Investment Strategies – Page 14
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Features
Unconventional wisdom
The search for yield is leading investors to hunt down illiquidity premia. Florian de Sigy and Benjamin Keefe make the case for secondary hedge fund interests
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Interviews
Practising what it preaches
As one of the world’s leading mezzanine and credit managers, Intermediate Capital Group spends every waking hour analysing, interrogating – and worrying over – the way companies manage their balance sheets. So it should come as no surprise that the firm is pretty handy at managing its own.
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Interviews
The implementation game
Russell’s recent move to Seattle from its historic location in Tacoma, Washington, just a few miles to the south, had the inevitable effect of pleasing urbanite employees happy to work and live in the bigger city and inconveniencing others who liked the old panoramic view over Commencement Bay and who faced a longer commute or higher real estate prices.
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Special Report
The trouble with fracking
The full environmental impact of shale gas extraction is not known, so investors must engage with companies to make sure they are acting responsibly, says Nina Röhrbein
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Special Report
Commodities: Puffed-out dragon?
China’s slowing economy – and its longer-term transition away from investment-led growth – is raising questions about ongoing demand for commodities. But Martin Steward suggests that it’s too early to call time on the ‘supercycle’
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Special Report
Commodities: Equities suffer from dematerialisation
Is recent share-price disappointment a sign of things to come in the extractive industries? Lynn Strongin Dodds finds mining becoming more expensive just as China, one of the biggest commodity markets, begins to reduce its demand
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Features
Toxic assets, or toxic prices?
Charlotte Moore finds that the anticipated flow of bank assets is more likely to be a trickle – thanks to the very regulation that was supposed to open the floodgates
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Asset Class Reports
Structured Credit & Loans: Don’t go it a-loan
Jim Cass outlines the operational challenges involved in investing in leveraged loans – and why outsourcing could be the solution
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Features
Over-funded, over 2008… and over here
US players are set to rule distressed Europe, writes Jennifer Bollen, but local players could offer crucial cultural advantages
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Asset Class Reports
US Equities: Still value to be found on upside
Martin Steward finds some surprising potential for growth at the heart of generally defensive portfolios
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Asset Class Reports
US Equities: Storm clouds gather over US economy
Shaniel Ramjee worries that markets are misreading the seriousness of the US fiscal position – a situation complicated by a looming budget cut of $1.2bn
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Special Report
Smart Beta: A smart beta taxonomy
Daniel Leveau and Des Morris categorise the alternative indexing universe and recommend that investors build diversified, smart-beta portfolios. By focusing on risk and return, they should achieve the desired results
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Special Report
Smart Beta: How equal-weighting wins
Yuliya Plyakha, Raman Uppal and Grigory Vilkov discover a surprising crop of non-systematic alpha generated by the monthly rebalancing process
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Special Report
Smart Beta: Debt and demographics
Investors should look for risk to be compensated by attractive premia. But Christoph Gort argues that market-cap weighted bond indices fail to deliver this. New index methodologies will allow for more efficient global bond investing
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Special Report
Pay proposals in the shareholder spring
Shareholders are beginning to flex their muscles by voting against inflated executive remuneration packages in listed companies, says Nina Röhrbein
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Features
Smooth operators
The Swiss are taking pains to make their banks as risk-free as possible to ensure client loyalty, finds Iain Morse
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Asset Class Reports
US Equities: Squeezing the last drops
US corporate margins have expanded impressively since the crisis. Joseph Mariathasan asks where the next wave of growth is going to come from
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Features
Restless continent
Africa is set for a busy year of elections – and it has already experienced an old-fashioned coup. Charlotte Adlung assesses the political risks behind the investment opportunities
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Special Report
Smart Beta: New generation of choices
The ‘smart beta’ revolution is taking investors from one ‘passive’ solution – the cap-weighted index – to many. Rachel Fixsen looks at the questions this raises
