Time to dump the bond proxies
The IMF has this week trimmed its growth forecasts and warned of a “subdued” trajectory for the global economy, but that’s still unlikely to push investors back into the relative safe haven of bonds.
Analysis
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pa analysis commodities
Commodity hedge funds are coming under pressure after the prolonged bear run across commodities markets. Many large funds have been wound down as the commodities super-cycle that had supported them apparently draws to a close. But as Chinese economic indicators start to turn, could the negative sentiment towards commodities start to shift?
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Risk targeted investors should not lose sight
A new breed of multi-manager/multi-asset funds are making waves in the retail market, but with the move to risk-targeted and risk-rated could investors be sacrificing upside return potential?
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Daily dealing limits property funds
Last night I joined the (fifth of a) mile-high club courtesy of a trip up The Shard. Yes, a primary rule of financial hackery states the higher the FTSE, the loftier the shindig.
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pa opinion cofunds revenue sources
For a business that does not give investment advice, does not design or manage portfolios, does not make asset allocation decisions and does not run any money, Cofunds has an extraordinary influence on the rest of the UK investment world.
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analysis an inflection point for quality growth
For some time, the only game in town for equity markets has been ‘quality growth’ to the extent that early this year, fund managers had started to talk of a two-speed market significant over-valuation in quality growth and significant under-valuation in cyclical companies. The best way for that particular disparity to unwind would have been…
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analysis us debt ceiling
In many ways the US appears to have judged the recovery right. Its economy has emerged stronger and faster from recession than any other, and its banking system and housing markets are by and large mended. Superficially at least, it is possible to justify the relatively high valuations for US stocks. Yet as it careers…
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emerging markets cheap or a value trap
In the recent BofA Merrill Lynch Fund Manager survey, a net 36% of the respondents said that global emerging markets are the most undervalued of all markets, the strongest reading since 2004.
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pa analysis aberdeen rumoured SWIP bid
It may have been mere rumour and speculation a couple of days ago, but there could well be something in the story of serial acquisitor Martin Gilbert, Aberdeen Asset Management’s chief executive, taking a look at SWIP, the investment arm of Lloyds Banking Group.
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pa analysis income total return
For many reasons, income has made a huge contribution to total returns over the past decade but with investors needing more of this income paid out where should portfolio managers look for the medium-term income opportunities?
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Why tracking EMs is like nailing jelly to a wall
As emerging markets continue to struggle, so has investors’ patience been tested, but what can a conscientious asset allocator really do about it?
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pa analysis german election uk investors
If the market response is anything to go by, Angela Merkel’s re-election as German Chancellor and her Christian Democrat party’s emphatic victory at the polls has little relevance for investors.