The three largest multi-strategy funds for sale in Europe have fared better than most other absolute return funds since the UK’s shock vote to leave the EU. However, the Standard Life GARS fund continues to underperform its peers on a longer-term basis.
A number of commentators have sought to reassure investors that the events of last week were not ‘a Lehman moment’.
Despite worries that current market stress could result in significant outflows from emerging markets in the short term, for Neuberger Berman’s fixed income CIO, Brad Tank, emerging market debt remains a fantastic place to invest over the longer term.
UK retail investor behaviour post-Brexit reveals growing fears about the prospects for property and UK equity funds and a growing preference for global and Japanese equities, according to analysis by Rplan’s online investment platform.
European investors hoarded cash in May. As Brexit-induced uncertainty dominated markets, they poured a net €14bn into USD money market funds, according to Lipper fund flows data.
The extraordinary rally in government bonds seen in the past fortnight has prompted Ian Spreadbury to cut duration in his funds by two years.
Faced with stubbornly low inflation the European Central Bank has taken a leaf out of the Bank of Japan’s playbook.
Last week, Janus Capital’s Bill Gross, a fixed income manager whose views I greatly respect, Tweeted the following: “Global yields lowest in 500 years of recorded history. $10 trillion of neg. rate bonds. This is a supernova that will explode one day.”
Courtiers has been selling down some of its long position on the US dollar to bank profit generated by the rising probability of Brexit.
Kames Capital has hired Rory Sandilands as an investment manager in its fixed income team.
Global bond markets continue to see strong inflows, despite broad swathes of them now being in negative territory.
Mario Draghi’s decision to extend the European bond buying programme has inspired several fund managers to dip their toes in the corporate bond pool, but no one knows how it will pan out, according to Chelsea Financial Services managing director, Darius McDermott.
