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Archive » 2009 » March
NPRF to establish ethical guidelines

A new committee will ensure the Irish National Pensions Reserve Fund invests in a socially and environmentally responsible manner. By Henry Smith.

In brief

Muzinich & Co has launched a socially responsible high yield bond fund. The fund will invest in US dollar denominated bonds issued by companies with strong environmental, sustainable and governance policies as well as solid creditworthiness and quantitative attractiveness. Josh Hughes, director of institutional sales at the firm, said the fund would offer attractive returns with the added benefit of having a positive impact on the environment.

Russia suffering liquidity shortages

The absence of a domestic pension fund base and the collapsing wealth of Russia’s oligarchs have left serious liquidity shortages in both long-only and alternative investments, according to Moscow-based money managers.

MARKET ANALYSIS: Europe

Now may be a good time to start investing in private equity, writes Dr Katharina Lichtner.

Robert Stheeman

Hunger for government bonds remains high

The appetite for government debt from investors is as strong ever, despite fears that a huge rise in issuance could swamp the market after new plans to rescue banks was announced.

MARKET ANALYSIS: North America

Before any meaningful economic recovery can take place in the US, housing prices must stabilise, writes Scott Simon.

Equities continue to lose out

Investors remain nervous about equity and bond funds preferring the safety of money market funds, though financials have enjoyed their first inflows in months. By Spencer Anderson.

MARKET ANALYSIS: South America

There are some very attractive valuations among Latin American companies for investors with a long-term view, writes José Costa Buck.

Toby Nangle

Barings calls for regulatory easing

Baring Asset Management has called for an immediate suspension of pensions accounting standard, FRS17, following the Bank of England's announcement that it is going to buy up to £150bn (€167bn) of government and corporate debt in a bid to stimulate the UK economy through “quantitative easing”.

MARKET ANALYSIS: Asia Pacific

Asia ex Japan economies are in strong fiscal positions and should be among the first to recover, writes Hiroshi Yoh.

Allianz puts off Scandinavian push

Allianz Global Investors has postponed part of its expansion into Scandinavia, despite a profitable year.

Time to stop rewarding failure

Institutional investors must do more to ensure that large payouts to those whose actions destroy shareholder value become a thing of the past, writes Henry Smith.

Ensuring independence

Pension fund trustees should be getting properly independent advice, writes Patrick McCoy, but is this the case?

Bob Parker

Waving goodbye to traditional fund management

In offloading its long-only business to Aberdeen Asset Management in return for shares in the company, Credit Suisse has a vested interest in a successful takeover and will need to reassure clients to stay where they are, writes Yuri Bender.

Know your counterparty exposure

Too many fund managers are not able to easily calculate their counterparty exposure, but this need not be the case, writes John Mayr.

Ricardo Manrique

Staying on the front foot

Ricardo Manrique, the new CEO at Stoxx, believes that the correct approach to the financial crisis is to take advantage of the opportunities that it offers rather than trying to ‘hunker down’. By Nat Mankelow.

Jeffrey Molitor

The successful approach to SWFs

Jeffrey Molitor at Vanguard Global Investors believes that a key part of any strategy for dealing with sovereign wealth funds is to treat each one individually, and that calls for greater transparency are likely to fall on deaf ears. By Spencer Anderson.

Anne Richards

Keeping a level head

Anne Richards discusses the motives behind Aberdeen Asset Management’s purchase of parts of Credit Suisse’s global investors business, and how she believes that there is value to be found in Asian markets. By Spencer Anderson.

Mitesh Sheth

Time for a new model?

Pension funds are able to take a longer term strategic view than most investors, but with assets under management suffering alarming falls in 2008 and more of the same likely this year, will they stick to their guns or decide to change their asset allocations? By Spencer Anderson.

Henning Rasche

German issuers pin hopes on the long view

Pfandbrief banks are losing out as government-guaranteed bonds are proving very attractive to investors. But the covered bond market is confident that there will always be an appetite for their products among those with a longer term outlook. By Nat Mankelow.

Antoine de Salins

Keeping an eye on the big picture

The crisis in the banking sector has led to calls for remuneration to be carried out in an intelligent and accountable manner, but issues such as climate change and forced labour should not be forgotten in these times of financial turmoil. By Henry Smith.

The proactive approach to structured investments

The financial crisis has proven asset allocation a challenge and confirmed investors’ need for diversification. Active management of structured investments can accomplish these two goals at the same time, say Emmanuel Naim and Fabrice Tenga.

The benefits of a cautious approach

Asia-ex Japan equity funds have suffered huge redemptions over the past 12 months, but the funds that fared the best followed conservative strategies that focused on high quality companies with less leverage. By Spencer Anderson.

David Butler

A platform for greater transparency

Hedge fund platforms can provide the independent oversight that may reassure investors and prove cost-effective, but can they provide a long-term solution or are they best suited to new start-ups? By Henry Smith.

Scott Dowie

Evaluating data to manage risk

The Lehman blowout left big credit investors like hedge funds with highly- leveraged portfolios stuffed full of hard-to-value instruments. But if the tools for valuing these complex assets and the risk management systems supporting the process had been better, things might have been different. By Nat Mankelow.

Stuart Condie

Keeping customers in the loop

Pension fund trustees are demanding more detailed and more frequent updates from their asset managers, and these must be delivered in a language that the clients can understand. By Nat Mankelow.

Adapting to a changing landscape

The dire economic situation towards the end of 2008 saw asset-servicers battening down the hatches, but now the institutions have to convince their clients that they provide a safe haven in these troubled times. By Gerry O'Kane.

Jack Klink

Global players circling private equity firms

There are huge opportunities in private equity, but can boutique houses offer the services and security that are in demand? By Gerry O'Kane.

Geoff Cook

Remaining profitable in the downturn

Asset servicers with multiple sources of income are managing to weather the credit crunch, but what does the future hold for asset managers who have outsourced their back and middle office functions if their partners run into trouble?

Jervis Smith

Keeping pace with an evolving market

The asset servicing industry is having to respond to demands for greater efficiency when carrying out over-the-counter derivatives transactions, and partnerships with external services firms provide an effective solution. By Kalpana Fitzpatrick.

Katja Rosenkrantz

Bringing harmony to the settlement arena

Target2-Securities promises to clear up the fragmentation issues that have hampered Europe’s post-trade clearing and settlement arena. But the platform remains a long way from completion and are there other options available? By Rekha Menon.

Going back to basics to put clients first

Catherine Brady, managing director, head of investor services EMEA, Global Transaction Services, explains how focusing on client relationships has helped Citi to perform well during the current market turmoil.

Jeff Conway

Cashing in on the new appetite to offload

Fund managers’ desire to concentrate on their core activities during the financial crisis means plenty of outsourcing possibilities for administrators. By Kalpana Fitzpatrick.

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