Currency – Page 11
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News
Varma warns exchange rate risk returning to euro
Finnish pensions insurer sees 4.3% first-half investment return
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Features
Asset Allocation: The big picture
This year looks like it could be remembered as the Bund sell-off year, or perhaps even the Bund Blowback, with one of the intraday price falls larger than any recorded (by Bloomberg) in the past quarter century
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NewsInsurance company tenders €200m EM currency mandate using IPE-Quest
Strategy should combine top-down country/sector selection with bottom-up duration/issue selection
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Features
Asset Allocation: The big picture
Although the severe winter did have a significant impact on US economic activity in the first quarter, the strength of the headwinds from a stronger dollar and the collapse in capital spending within the energy sector have also taken their toll
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Features
Asset Allocation: The big picture
As the US economy continues to recover, the hour when the Fed starts to tighten is approaching
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News
Danish central bank blames pension funds for pressure on krone
Two-thirds of currency inflows came from domestic parties over January-February period
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Special ReportSmart beta and currencies
In currency markets there is arguably no beta, but risk-factor trading has a long history in the asset class
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Features
Asset Allocation: Fixed income, Rates, Currencies - The big picture
Getting the big picture right always helps and sometimes it makes subsequent investment decision-making blindingly obvious. But so often there seem to be diametrically opposed eventualities, with ambiguity everywhere. The dramatic fall in the oil price, for example, is creating plenty of puzzlement.
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News
Swiss Pensionskassen increase equities to counteract SNB losses
Snapshots offered by Credit Suisse, UBS show how pension market fared in wake of decision to end currency peg
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News
Swiss AHV’s FX hedge prevents CHF1bn loss
Selective currency hedging saved Swiss first pillar fund from major losses in the wake of SNB decision
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News
UK Coal scheme lodges legal complaint over Towers Watson advice
Trustee body for industry-wide fund alleges ‘negligent’ investment advice led to multi-million loss on currency hedge
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NewsSwiss pension funds cautious of 'captive' relationship with local banks
Schemes increasingly aware they must not be seen as captive clients of country’s largest banks
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Features
Asset Allocation Fixed Income, Rates, Currencies: The big picture
When the Fed embarked upon its first round of quantitative easing five years ago, there were fears of an inflation time bomb. The Fed has already purchased its last lot of Treasuries under QE3, but is still executing regular MBS purchases, as forward inflation expectations in the US and Europe are as low as they have been for years.
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Special Report
Special Report - Emerging Markets: Fed up with volatility
The Federal Reserve-sparked ‘taper tantrum’ of 2013 revealed how sensitive emerging market currencies could be to interest rates set in the developed world. Caroline Saunders asks whether that volatility told us more about investor sentiment than fiscal fundamentals
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Features
Asset Allocation: The big picture
There is an uncomfortable sense that many market outlooks and forecasts are too sanguine about future risks and the course of US interest rates. Some asset classes are already being severely buffeted.
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Features
Dollar storm ends 10-year FX calm
A full decade of range-bound trade in the dollar has dulled pension investors’ sense of the risks of currency exposure. As Christopher O’Dea reports, all that’s about to change
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Special Report
Currency Management: Taming the FX volatility dragons
Even before the money set aside to pay back the US’s debts threatened to run out at the end of October
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Special Report
Currency Management: Keep your FX hedge options
The environment since 2008 makes the case for dynamic hedging.
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Special Report
Currency Management: Side effects of short duration
The key active currency strategies of carry and momentum come into their own in a rising-interest-rate environment with greater dispersion of interest rate differentials.
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Special Report
Currency Management: Keep calm and carry on?
Consultants hope that a healthy volatility is returning to FX markets to lure back pension funds, writes Angela Henshall. But does the strategy debate still need to move on?
