All Special Report articles – Page 104
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Special Report
Carry on recovery
Uncertain economic recovery and the global rebalancing to a ‘new normal’ argues for volatility and directional emerging market FX trades, but Lynn Strongin Dodds finds that it’s too early to write off the carry trade
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Special Report
The convexity of convertibles
The logic for a tactical position in convertibles was clear at the beginning of 2009. CQS told Martin Steward about the strategic case as we enter 2010
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Special Report
SMID sweet spot
Patrick Quinn argues for specific small and mid-cap mandates – and active management – as attractive risks at this point in the economic cycle
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Special Report
Stock responses
The speed and extent of this year’s equity bull market has arguably made it trickier to position for the longer-term economic recovery. Martin Steward asks portfolio managers about the courses they are setting
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Special Report
Governance push in Japan
The Japan Engagement Consortium aims to improve Japanese corporate governance standards at the same time as companies realise they must improve to attract investors, reports Nina Röhrbein
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Special Report
Dark forces
Uncertainties govern any future projection of the equity risk premium, argue Wim Barentsen and Svetlana Rodionova, making scenario analysis essential to APG’s asset-liability matching process
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Special ReportPricing equity risk appetite
Historic excess returns from equities tell us little about the risk premium embedded in valuations at any given time. Toby Nangle and Hartwig Kos explain how a forward earnings-based model allows them to take account of extreme economic scenarios that could disrupt those earnings
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Special Report
Dynamic alpha risk budgeting
Dynamic management of core/satellite allocations might seem an ideal strategy for maximising return while minimising costs. But this approach can be difficult to execute, argues Daniel Wallick
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Special Report
SMART portfolio management
Static portfolio management techniques fail because they cannot respond to changing economic conditions. Arun Muralidhar offers an alternative
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Special Report
SWFs – case for ALM
Work needs to be done to develop optimal asset allocation and liability-management strategies for sovereign wealth funds, argues Lionel Martellini. The first step is to define each fund’s purpose and source of revenue
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Special Report
Copenhagen – will it matter?
Conclusive climate change strategies probably won’t emerge in Copenhagen but investors must start planning for them as the clever money needs to think ahead, says Nina Röhrbein
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Special Report
Surviving stagflation
As the dreaded ‘s’ word edges onto the periphery of economists’ radar screens, Martin Steward assesses the options for defending against it – and the risks those options present
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Special Report
Refashioning beta
The emergence of alternative systematic equity indices raises profound questions about how we define ‘the market’, and how pension funds should benchmark and invest their core portfolios, writes Martin Steward
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Special Report
Case for new forms of equity indices
Stockmarket index providers should design their indices to help investors construct efficient portfolios rather than just focusing on being representative of the overall market, argues Felix Goltz
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Special Report
FoHFs – a good move for institutional investors?
As more and more investors begin allocating direct to hedge funds or using replication and index products, Stephen Oxley and Lisa Fridman offer a defence of the fund of funds
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Special Report
Multi-strategy gains currency
Investors should adopt a broad and diversified approach when investing in currency markets, finds Lynn Strongin Dodds
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Special Report
Tap into secondary market
Attractive opportunities are continuing to emerge in the secondary market for hedge funds as a result of recent liquidity challenges, writes John Anderson
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Special Report
ESG concerns for cash funds
SRI money market funds might be growing in popularity, but levels of screening and transparency can leave a lot to be desired, find Dominique Blanc and Caroline Estimé
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Special Report
An emerging prospect
Pension funds investing in microfinance should take a patient and responsible approach to their investments, says Ivo Knoepfel
