In Depth – Page 39
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Features
Ahead of the Curve: Contagion spreads
Achilles Risvas assesses the potentially devastating knock-on effects of a fall in bond prices and a flight from credit
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Features
ECB exercise to beef up ABS
The ECB hopes its plans to invest heavily in the asset-backed securitisation market will encourage other investors and ultimately help boost real economy lending, writes Anthony Harrington
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Interviews
Strategically speaking - Majedie Asset Management: Global, naturally
Before this year, Majedie Asset Management had rolled out just five products since it was established in 2002 – one of which was a concentrated version of another. By those standards, 2014 has seen riotous activity, with the summer launches of a US equities fund and two global funds adding to the existing line-up of UK equity and global long/short funds.
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Asset Class Reports
Dangerous liquidity
Following another summer of high-yield bond market volatility, Emma Cusworth asks whether ETFs are to blame for credit markets getting riskier
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Features
Race for solutions picks up pace
Incumbent managers have a natural advantage with mature pension funds in the provision of solution-type services, finds Pádraig Floyd
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Interviews
Three years of the 300
Liam Kennedy spoke to Alan Brown and Saker Nusseibeh, two architects of the 300 Club of investment professionals who seek to challenge mainstream investment practice
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Interviews
Experience, leveraged
Babson Capital immediately springs to mind for institutional investors around the world seeking global fixed-income managers, but that is a key goal for CEO Tom Finke. Having raised $5bn (€3.9bn) from European investors alone in 2013 it certainly looks well-positioned to one day be ranked among the market leaders.
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Features
Post-crisis or pre-crisis?
History warns us that the next crisis is just around the corner. Arturo Bris outlines the shapes it is taking and what we can do to mitigate it
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Features
Miracle redux?
Investors are hoping Mexico’s reforms spark another growth surge. As Christopher O’Dea reports, the best play may be in the local bond market
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Features
Not the destination but the path
Vassilios Papathanakos and David Schofield explain why it’s easier to estimate volatility than forecast returns, and why it matters for superior returns and better risk management
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Features
Minimum variance, maximum duration
The prevalence of highly-indebted companies and sectors in minimum-variance portfolios could expose investors to interest rate risk, warns Mehdi Guissi
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Features
Teenage years
Fiona Reynolds faced a protest storm soon after coming on board at PRI as executive director. Jonathan Williams caught up with her 18 months into her job
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Features
No place like homes
Christophe Caspar looks into whether or not European housing is a safe home for fixed income investors
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Features
Vital statistics
Headline numbers may obscure the fact that smarter business models are reversing outflows in the fund of hedge funds industry. Emma Cusworth looks at the trends behind the figures
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Features
Financing the real economy
The credit funds industry is evolving fast to meet the needs of the world’s SMEs. Claudio Bocci and Gianmatteo Guidetti provide a survey of the products on offer
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Features
Sounding boards
Charlotte Valeur argues that fund governance should be improved with more pro-active communication between investors and boards, independent of the investment adviser
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Features
Burmese days
Rachel Fixsen finds mixed views about Burma as an investment destination for European pension funds
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Interviews
Success assured
When Russell Büsst was coaxed from Amundi in 2011 to head Conning’s expansion into Europe, he had three objectives: break even and hit $10bn (€7.38bn) under management within three years; use the firm’s insurance-industry relationships as a platform to build the pan-European business; and balance property-and-casualty (P&C) with life-and-pensions (L&P) assets.
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Features
Bolt the penthouse door
The apparent recovery in the UK and converging spreads in euro-zone bond markets mask deep structural flaws in economies that have seen little genuine reform, argues Eamonn Butler
