Investment Strategies – Page 24
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Asset Class Reports
Credit: Different dimensions of style
Joseph Mariathasan reports on a new set of indices that add a defensive/dynamic dimension alongside market cap and value/growth
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Features
Credit to lending
Many pension funds canned their securities lending programmes outright in 2008 but have now recovered their nerve. However, Iain Morse argues that regulation is now likely to drive the future shape of the industry
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Special Report
Taking climate change in your stride
Nina Röhrbein looks at Mercer’s project to help institutional investors tailor their investment portfolios to manage the risks as well as exploit the opportunities thrown up by climate change
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Features
X marks the spot
The hinterland between investment grade and high yield delivers an intriguing risk profile. But Martin Steward also finds that profile changing
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Features
Maltese persuasion
Malta is benefiting from the trend of near-shoring in the securities services business, writes Iain Morse
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Features
How independent is the Old Lady?
Neil Record worries that the Bank of England’s bias towards low rates correlates with a political imperative to inflate away public and financial sector debts. So is monetary policy now controlled by Whitehall, rather than Threadneedle Street?
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Interviews
Five years on
When Peter Wilby begins our conversation by remarking on Stone Harbor Investment Partners’ imminent fifth birthday, it is as if, stepping back, he suddenly realises what a thrill ride it has been.
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Asset Class Reports
European Equities: A heterogeneous marketplace
Top-performing European equity portfolios are both concentrated and very diverse in outlook and composition, finds Joseph Mariathasan
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Asset Class Reports
European Equities: UK equities: The Liontrust approach
The UK equity market is still distinct from that of continental Europe because of factors such as its size, the large number of multi-nationals and mid-sized companies with global presence, and a still large domestic institutional investor base in the form of pension funds with relatively high domestic equity exposures.
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Asset Class Reports
European Equities: Corporate strength abounds
The picture is complex, but in general low indebtedness and high return on equity will cause capital flows to CEE corporates, writes Juraj Kotian
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Special Report
Hedge fund paradox
Nina Röhrbein looks at how the few responsible hedge funds are reconciling their short-term outlook with the medium to long-term nature of ESG investing
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FeaturesForest funds snapshot
Céline Claudon presents the key findings from IWC’s comprehensive database of institutional timberland investment funds
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Features
Call off the funeral
Since the dotcom bust investors have endured a long period of headlines announcing the ‘Death of Venture Capital’. So why are practitioners telling Martin Steward to expect a new lease of life?
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Interviews
Breaking the bonds
Last month’s Strategically Speaking looked at how the dynamics of ageing, pension fund decumulation and tighter capital adequacy had influenced Schroders’ transformation from UK equities investor to global multi-asset manager.
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Features
Belgium’s conservative custodians
Iain Morse finds regulation change may force some smaller captive custodians to re-think their business model
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Asset Class Reports
Small & Mid-Caps: Global opportunities emerge
Surprisingly modest historical volatility and excellent diversification benefits: Rob Feldman, Chris Steward and Yogesh Borkar explore the under-analysed world of emerging market small-caps
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Features
Still at the station
Investors cursing themselves for missing the private equity secondaries train in 2009 can still get onboard, finds Martin Steward
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Interviews
Positioned for the new era in pensions
There are some clear long-term trends in pension asset management in Europe. Collective is giving way to individual provision. Defined benefit (DB) schemes are closing, crystalising liabilities and deficits, and implementing LDI programmes. This, together with accounting and capital adequacy standards and the decumulation phase of an ageing demographic, is pushing funds into fixed income. Where growth assets are still required, investors look beyond domestic markets because growth is expected to come from emerging economies.
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Interviews
Consolidating and concentrating
There has been a lot of change at Finasta Asset Management over the last two years. In 2009 parent company Finasta Group was sold by Lithuanian heavyweight Invalda to Bank Snoras, which had its own asset management outfit. This division was merged with Finasta Asset Management at the beginning of 2010, creating a rather odd-looking entity that was ripe for ‘synergies’.
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Asset Class Reports
Small & Mid-Caps: Small is beautiful
epoThe global small-caps universe is one of great diversity and opportunity. Joseph Mariathasan and Martin Steward speak to some top managers about their portfolios
