All Asset Class Reports articles – Page 29
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Asset Class Reports
Hedge Funds: Rehabilitated
Since assets under management crashed during the financial crisis the hedge fund industry has experienced a phoenix-like revival in fortunes. But Joseph Mariathasan finds that it is far from back to business as usual
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Asset Class Reports
Hedge Funds: Hedge funds and the crisis
Citi Prime Services canvassed the opinions of hedge funds and hedge fund investors on the impact from and response to the liquidity crisis of 2007-08, and to gauge its longer-term implications for the sector. Sandy Kaul discusses the findings
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Asset Class Reports
Hedge Funds: Angling for alpha: pension funds talk hedge funds
When he isn’t managing the alpha traders at Denmark’s state pension fund, ATP Alpha CEO Fredrik Martinsson likes nothing better than to get out with his rod and line – so it’s no surprise that he reaches for an angling metaphor to explain his understanding of alpha.
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Asset Class Reports
Global Equities: History lesson on risk
Real stock market returns reveal the true frequency of ‘once in a century’ crashes,says Paul Kaplan
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Asset Class Reports
Global Equities: Towards true diversification
Yves Choueifaty, Tristan Froidure and Elizabeth Breaden wonder why the dynamic strategy implied by cap-weighted indices is regarded as ‘passive’ and posit their ‘anti benchmark’ portfolio as a true proxy for the equity risk premium
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Asset Class Reports
Global Equities: Breaking the constraints
Joseph Mariathasan finds that while modern portfolio theory and orthodox strategies can serve investors and fund managers well, there can be greater rewards for those willing to step away from convention
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Asset Class Reports
Global Equities: World betas
Stock-specific risk dominates equity returns, finds Sudhir Nanda. But stockpickers should be aware that the contribution of systemic factor risks varies significantly across regions, sectors and time
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Asset Class Reports
Sovereign Bonds: Calling in the plumbers
Joseph Mariathasan takes a look at proposals to unblock the pipes of Europe’s repo market
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Asset Class Reports
Sovereign Bonds: Macro madness
Emerging market strength versus developed market weakness, European core versus periphery, inflation versus deflation – Joseph Mariathasan finds a market rapidly rediscovering its complexity
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Asset Class Reports
Emerging Market Debt: Localising, globalising
Joseph Mariathasan finds that fast developing emerging debt markets present opportunities for risk-taking and challenges for benchmarking and performance measurement
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Asset Class Reports
Emerging Market Debt: What role do indices play?
The key sub-components of the emerging market debt (EMD) are the original hard currency sovereign debt, followed now by local currency sovereign debt and, increasingly, hard currency corporate debt. At some stage local currency corporate debt may also come to have significant size. There are two questions that need to ...
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Asset Class Reports
Emerging Market Debt: Local currency bonds
Emerging market debt (EMD) originated as a hard currency debt market but today it is the local currency issuance that dominates the sovereign debt marketplace, while hard currency issuance in 2007-08 was 70% corporate.
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Asset Class Reports
Emerging market debt: Emerging market debt goes local
Building out term structures, liquidity and diversity in emerging market debt will improve the efficiency of both emerging economies and investors portfolios, write Peter Botoucharov and Edouard Stirling
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Asset Class Reports
Emerging market debt – A reconfiguring world
High credit spreads and strong currency performance are just two reasons why emerging debt markets are set to eclipse the performance of G7 countries in the coming year, writes Peter Marber
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Asset Class Reports
Emerging Market Debt: Portfolio focus: Fringe benefits
As an asset class, emerging market debt (EMD) is generating a real buzz among asset managers and investors. It may take some time, but pension fund allocations are expected to rise, given the mismatch between current allocations to the emerging markets and their increasing economic importance. Insight Investment head of EMD, Colm McDonagh, says: “Less than 1% of global pension fund assets are in emerging markets; it should be significantly higher. Within 10 years, emerging market countries will have 50% of global GDP.”
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Asset Class Reports
Credit: New world order
Joseph Mariathasan finds corporate bond managers coping with the new realities around benchmarking, ‘risk-free’ rates and agency credit ratings
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Asset Class Reports
Credit: Graded ‘could do better’
Martin Steward talks to Standard & Poor’s about what exactly it means to rate a security AAA
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Asset Class Reports
Credit: Real yields for real money
Martin Steward speaks to Babson Capital Europe, which argues that the time has come for European pension funds to allocate seriously to the loans market
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Asset Class Reports
Credit: Qualities for the long term
Madeline Forrester makes the case for investing in high yield as part of a longer-term strategy
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Asset Class Reports
Credit: Far from junk
High yield was a screaming buy back in March 2009. Joseph Mariathasan finds that healthy fundamentals provide good support for latecomers to come in when the broader markets get jittery