Credit – Page 3
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Asset Class ReportsPortfolio strategy – Fixed income & credit
Factors including rising inflation and interest rates, the war in Ukraine, and the uncertainty surrounding the global economy might have significantly slowed down the growth of an alternative asset class like private debt. But this has not been the case, and while fundraising by private debt managers for 2022 and 2023 might be challenging, investors are making new long-term commitments.
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Asset Class ReportsFixed income & credit – No turning back for alternative credit
Investor demand for alternative lending strategies remains strong as the opportunity set grows
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NewsVelliv divests BP, TotalEnergies, Shell in climate strategy rethink
Danish pension provider divests DKK3.4bn of upstream oil and gas stocks and bonds
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Asset Class ReportsPortfolio strategy – Fixed income
Last year ushered in a new era for global fixed income and credit markets. It was the worst, in terms of returns, for bond investors in years, but it signalled a regime change. Investors need to be prepared for structurally higher inflation and rates, as well as higher volatility. But for fixed income managers, this is an environment where value is easier to find. Our report looks at this new beginning for fixed income investors, and at how selectivity has become key in the high yield and loan markets.
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NewsAP Pension divests further €42m fossil stocks including TotalEnergies, Shell
Danish pensions firm blacklists further 73 companies after tightening fossil fuel exclusion criteria
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NewsSwedish watchdog grills Alecta, others as US bank losses pile up
NBIM ‘closely monitoring the situation in the market’ after €281m exposure to collapsed banks
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NewsSweden’s AP funds claim ‘major improvements’ in cocoa farming’s child-labour issue
Buffer funds’ Council on Ethics to extend reactive work to cover more asset classes
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NewsIlmarinen switches €17bn listed equities to new climate action benchmark
Finnish pensions insurer has started using the MSCI Climate Action index, which it helped develop
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NewsERAFP awards €1.2bn in SRI credit bond mandates
The scheme has awarded the active mandates to AXA Investment Managers and FundLogic
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Asset Class ReportsFixed income: Paradigm shift for investors
Credit is looking more attractive on a risk/reward basis for new investment, but the factors that led to the 2022 volatility have not disappeared
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Asset Class ReportsAsset class report – Fixed income
Last year was the worst in recent decades for both government bonds and credit, with portfolio returns worse than most professionals have experienced in their careers. But is the tide finally shifting as inflation starts to moderate and terminal policy rates are in sight? In any case, geopolitical risks and inflation are not set to go away, and recession will inevitably take a toll on corporate issuers.
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NewsIlmarinen adds foreign property and corporate bonds to climate goal
Finland’s number two pensions insurer adds new asset types to climate road map published last year
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Norway liquidates crisis bond fund despite resurgence of high rates
Folketrygdfondet announces gradual shutdown of Government Bond Fund, set up in 2020 to help lockdown-hit Norwegian companies
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Opinion PiecesThe biggest test for private credit is upon us
Non-listed asset classes are sometimes touted as the weatherproof investment that can deliver positive returns no matter what, in both strong and weak economic environments.
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Opinion PiecesAustralia: Super funds shift focus to private credit
An ambition of the architects of Australia’s universal superannuation system, when it was set up in 1992, was to create what would become a fifth pillar of the nation’s banking system.
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FeaturesAhead of the curve: Beefing up guardrails as risks rise in private credit
For US and European private credit firms, storm clouds are gathering.The recent rate hikes by the Federal Reserve, European Central Bank (ECB) and the Bank of England (BoE)have numbed activity in the leveraged loan and high-yield spaces.
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Folksam stows €276m into private credit for North European firms
Swedish pensions and insurance group picks P Capital Partners’ fifth credit fund for fixed income exposure across the group
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PGGM, Alecta sign €2.1bn credit risk sharing deal with German bank
The transaction on a portfolio of corporate loans shifts 20% of default risk to the two pension investors
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Top business school proves ESG does not harm corporate bond portfolios
Academic evidence can give comfort to bond investors, says Insight Investment RI chief
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Asset Class ReportsCredit: Inflation and the bond markets
Risks look likely to be building in credit as central banks wreak collateral damage on economies in their bid to tame inflation
