At the annual review of its fixed income portfolio, CalPERS staff explain how active management, value-add strategies and the hunt for alpha are paying off, with ESG integration giving it a valuable edge and informing it to invest in companies under pressure like Boeing at the right time.
The $26 billion Australian super fund, Sunsuper, is investing in an increasing amount of exclusive unlisted asset deals. Chief investment officer David Hartley says the difficulties of banks in Europe in particular have led the fund down the path of increasing the amount of debt investments in its unlisted exposure. Much of this has been
How should pension funds in the United Kingdom best prepare for the government unwinding quantitive easing (QE) and tightening monetary policy? The Bank of England isn’t showing any signs of ending QE just yet, its policy begun in 2009 and designed to stimulate the economy by creating new money to buy government bonds. But QE
Reaching-for-yield — the propensity to buy riskier assets in order to achieve higher yields — is believed to be an important factor contributing to the credit cycle. This Harvard Business School finance working paper analyses this phenomenon in the corporate bond market. The paper’s authors Bo Becker and Victoria Ivashina show evidence for reaching for
Monday 21 May 9:00 – 11:30 am The Codrington Room, Corinthia Hotel London Whitehall Place, London SW1A 2BD United Kingdom Over the next several years, it is estimated that European banks need to dispose of approximately €2.5 trillion of non-core assets. The €800 billion “firewall” against sovereign debt default in Europe and long-term
Towers Watson’s negative outlook for bonds and its advice to increase allocations to high quality credit is being reflected in portfolio shifts by institutional investors.
A majority of investors believe “stability bonds” could provide a partial solution to the euro zone sovereign debt crisis, but are concerned that these bonds carry a high moral-hazard risk, a CFA institute poll reveals. The poll found 55 per cent of European investment professionals believe that the common issuance of stability bonds can help
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Fixed Income