Why currency matters in HY credit allocation

When comparing regional credit markets, Vivek Bommi, senior portfolio manager at Neuberger Berman, urges investors to take into account the differentials in risk-free rates and the consequent costs of currency hedging. He explains in Investment Europe how this should lead more investors to see the benefits of investing in European high yield bonds. Link

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MailOnline: Want to bet on $100 oil in 2018? Some investors already have

Richard Robinson, manager of the Ashburton Global Energy fund, is confident oil markets will remain a compelling investment for the next three to five years. He explains in the MailOnline that periods of poor performance have historically been followed by periods of outperformance – which we are potentially entering.  Link

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Why investors should still fly Ryanair: top managers’ view

Mike Clements, head of European equities at Syz Asset Management, comments on the recent crisis surrounding Ryanair. In Citywire Selector, he notes that “despite an apparent perfect storm of negativity around the stock, there has not been an attractive entry point for contrarian, long-term investors”. Link

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Hermes Investment Management: High Yield Investors Sweat for Return in Europe ‘Sellers Market’

Mitch Reznick, co-head of credit at Hermes Investment Management, comments on the declining covenant quality in the primary market for European high yield bonds. He notes in Bloomberg Markets that low-quality credit may also suffer if interest rates increase next year. This has led him to look for alternative investment opportunities in reverse-yankees. Link

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Investing in oil for now, the next year and the next decade

Geir Lode, head of Global Equities at Hermes Investment Management, believes that with the stabilisation of oil prices and rising oil demand, producers will have to increase capital expenditure in 2018. He tells Pensions & Investments this presents investment opportunities in undervalued sectors such as oil rig operators. As well, Geir recommends investing in companies […]

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ThinCats launches £200m fund for SMEs

Alternative finance lender ThinCats has announced a £200m funding programme for UK SMEs. The Leicester Mercury covers how this will allow ThinCats to provide growing businesses with loans of up to £5m, as SMEs face funding scarcity from traditional bank lenders. Link

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Concerns Mount over U.K. Infrastructure Funding

Mike Pinggera, manager of the Sanlam FOUR Multi-Strategy fund notes that Brexit presents additional challenges to infrastructure funding. In Institutional Investor, he explains that the uncertainty caused by Brexit is increasing investor reticence which has been around since the financial downturn when international banking groups that provided much of the funding withdrew from the market. […]

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Neuberger Berman: Will the longstanding US equity bull market continue?

Richard Nackenson, manager of the Neuberger Berman US Multi Cap Opportunities fund, notes that the second highest bull market in US history provides opportunities for bottom-up active managers. In FE Trustnet, he explains that the end of free money and zero interest rates re-establish a rational market pricing mechanism that may discourage index allocations in […]

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