Leicestershire to commit entire credit portfolio to direct lending

Direct lending has become more popular in recent years, as tighter regulation on banks has discouraged many from giving loans to certain sectors and opened up the space for institutional investors. Greg Fedorenko, associate at investment consultancy Redington, suggests pension schemes could find greater returns in direct lending than on the syndicated loan market. News […]

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Group Ratings: Euro corporate bond stars

There has been much uncertainty in Europe of late. While  market sentiment improved at the end of the year, with positive US economic data bolstering investor confidence, prospects in Europe remained less certain with the slide into deflation in the eurozone a leading concern. CityWire highlights the funds that have fared best, including the T […]

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Student loans: the real cost could be £40,000 more than official estimates

A damning report has warned that the Government has severely underestimated the cost of funding a university degree with a student loan, the Telegraph reports. The analysis, compiled by RedSTART – an education arm of the consultancy firm Redington – claims the Government’s mathematicians have used “outdated” sums to calculate the size of repayments graduates […]

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Linehan backs M&A to drive US equities in 2015-02-19

T Rowe Price’s John Linehan has backed merger and acquisition activity to become a prominent theme driving the US market in 2015. The manager of the T Rowe Price US Large Cap Value Equity Fund said the backdrop of current equity valuations, healthy corporate balance sheets and buoyant cash reserves lent itself to an increase […]

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HY star Cohen: every reason to underweight Europe right now

European high yield bonds are overpriced and offer lower returns than their US counterparts, reports Citywire Global. Lou Cohen, manager of MacKay Shields, said most of the companies in Europe are operating in materially weaker markets than the US right now. On average, he thinks US bonds offer a much better credit quality, a higher […]

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Six ways to rethink your derisking plan in a volatile world

Around 40 years ago we experienced the 1970s oil shock, with rising oil prices, rising inflation and rising interest rates. Recently, the opposite has been true: oil prices fell by almost 50 per cent in 2014, inflation is falling and, particularly in Europe, low inflation is adding to growing fear of deflation taking hold. These […]

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High Yield Bonds Commentary: Happy to be bullish contrarians

Although people have been bullish on high-yield over the past few years, that sentiment has turned. Louis Cohen – senior managing director of Mackay Shields, which manages five fixed-income UCITs funds on behalf of Nordea Asset Management – would rather be contrarian. He contends that the market has been through numerous cycles, with many periods […]

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