Jupiter’s Pidcock bulks up liquidity and slashes stocks
Jupiter’s Jason Pidcock has begun 2018 in a more defensive frame of mind and has been bulking up the liquidity of his Asian Income fund in case of a “mini-credit crunch”.
Liquidity
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PA ANALYSIS: Funds playing a dangerous game of liquidity
On 22 August, doorstep lender Provident Financial hit investors with a devastating triple-whammy – a profit warning (its second in a matter of months), an FCA investigation into its credit card subsidiary Vanquis Bank and the resignation of disgraced CEO Peter Crook.
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Jupiter Merlin team warns on risk of ETF liquidity crisis
Jupiter’s respected Merlin team of multi-managers has sounded a warning on exchange-traded fund (ETF) liquidity, as part of a downbeat series of predictions for global markets.
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The importance of liquidity ahead of Brexit cannot be overstated – Coombs
“As a total return manager it is not the volatility that kills you it is the sheer drop,” said David Coombs, head of multi-asset investments at Rathbone Unit Trust Management.
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PA ANALYSIS: Fixed income funds leak as liquidity fears linger
Fixed income funds saw outflows of £267m in January 2016, the Investment Association said on Monday, which accounted for more than half the total outflows of -£463m recorded for the month.
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Vanguard targets Europe with first active ETF range
Vanguard has launched its first range of active ETFs as it seeks to extend its presence in Europe into active funds.
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‘No silver bullet’ for bond liquidity issues – City Financial
Markets are in a ‘troubling, bifurcated state’ and there is no such thing as a ‘silver bullet’ in terms of the bond liquidity problem, warned Gill Hutchison, head of investment research at City Financial.
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PA ANALYSIS: Should certain bond funds ditch daily trading?
Bond fund managers have taken a kicking from the money pages of late with accusations of bad decision making, as well as being overpaid and, more importantly, ill prepared for a liquidity squeeze.
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FCA mulling increased ‘soft closure’ flexibility
The Financial Conduct Authority is considering improving the flexibility with which funds are able to ‘soft close’.
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PA OPINION: Carney’s conversations beg a few questions
Mark Carney has, according to the Sunday Times, told fund managers to prepare for a mass sell-off in stocks and bonds that could be triggered by a Bank of England rate hike.
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PA ANALYSIS: Is there really a bond liquidity crunch coming?
The concept of daily liquidity for bond funds could soon be tested like never before if some of the more pessimistic market commentators are proved right.
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pa analysis alternatives illiquidty
The proliferation of multi-asset funds has led to an increased number of asset classes being open for investors, and some less accessible ones moving more into the mainstream.