All Fixed income articles – Page 8
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Opinion
Which types of credit generate the highest returns?
How have different credit types performed, and why should schemes tread carefully when it comes to direct lending? Bestrustees’ Bob Hymas, PGIM’s Jonathan Butler, PTL’s Richard Butcher, Redington’s Greg Fedorenko and Willis Towers Watson’s Chris Redmond share their views.
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Opinion
What role does credit play in a portfolio?
How can schemes of different sizes get the best exposure, and is the asset class liquid when it needs to be? Bestrustees’ Bob Hymas, PGIM’s Jonathan Butler, PTL’s Richard Butcher, Redington’s Greg Fedorenko and Willis Towers Watson’s Chris Redmond discuss credit investment.
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FeaturesMPs’ scheme votes for secured loans over REITs
The Parliamentary Contributory Pension Fund has simplified its property portfolio and invested proceeds in a European loans mandate, with a view to generating income.
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OpinionWill government infrastructure investment crowd out pensions?
A development mandate from the government could mitigate the risk of crowding out private investors from infrastructure investments, argues BlackRock’s Vivek Paul.
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Features
Brexit, pooling and transparency: Top investment stories from 2016
Year in review: Investment fees and the impact of Brexit on schemes’ portfolios stood out among the most salient subjects for pension schemes in 2016, while the ongoing low-yield environment prompted funds to seek higher returns and cut back on costs.
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FeaturesReuters scheme simplifies strategy in liquidity search
As part of a push to simplify its asset allocation and achieve greater liquidity, Reuters Pension Fund is exiting its property investments, putting some of the proceeds into a new buy-and-maintain mandate and an existing diversified growth fund.
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Opinion
Where to look for global credit investments
Goldman Sachs Asset Management’s Jeremy Cave suggests where investors should look to find credit investment opportunities.
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Opinion
What is limiting scheme uptake of smart beta products?
Is a lack of education and transparency around smart beta confusing schemes and trustees? AQR's Scott Richardson, Capital Cranfield's Jonathan Reynolds, RPMI Railpen's Steve Artingstall, SpenceJohnson's Robert Holford and Xerox HR Services' Simon Hill examine the challenges facing the sector.
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Opinion
Data crunch: Investors revise fixed income mindsets
Data crunch: Fixed income isn’t so boring anymore, as the low yields force funds to change their strategies, says Spence Johnson’s Magnus Spence.
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FeaturesStrathclyde earmarks £750m for MAC and private debt
The Strathclyde Pension Fund has made large allocations to both private debt and multi-asset credit as it looks to take advantage of the growth in non-bank intermediaries.
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Features
Comet scheme enters alternatives space
In a bid to improve diversification and returns, the Comet Pension Scheme has added alternatives to its portfolio, as rising deficits and the current economic environment prompt many pension funds to hunt for yield.
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Opinion
How to invest in fixed income in the current environment
The world of ‘lower for longer’ seems to be going lower and lower for longer and longer. Insight Investment’s Alex Veroude explains how schemes can ensure they make the most of the opportunities.
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Features
RBS scheme diversifies with US life settlements
The RBS Pension Scheme has made a number of new investments as part of its long-term plan to diversify its portfolio.
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Opinion
Negative yields raise fundamental questions
Severe defined benefit pension funding shortfalls have been made worse by the significant post-Brexit fall in yields, and there are renewed concerns over whether pension trustees are using the full range of weapons in their arsenal to plug the gaps.
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Features
RSA scheme targets buy-and-maintain strategy to derisk
The RSA Insurance Group’s Sal Pension Fund is focusing on buy-and-maintain credit as part of an investment strategy overhaul as the scheme looks to further derisk its portfolio following the results of its latest actuarial valuation.
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Opinion
Why US high yield looks attractive
From the blog: Corporate bonds issued by companies perceived to be under financial stress are currently trading at very low prices. This could be an attractive investment opportunity.
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Features
MPS mines for income with alternative credit and shipping
The Mineworkers Pension Scheme is hunting for income with new allocations to shipping and special situations debt, alongside increased exposure to private debt and property.
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FeaturesSainsbury’s marks down deficit by £262m
Sainsbury’s Pension Scheme has reduced its post-tax deficit by £262m in the past year, following exceptional employer contributions and an increase in the discount rate.
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Opinion
Choppy waters: How schemes can invest in volatile markets
Pension schemes have been grappling with the impact of low returns since the global financial crisis, but the environment became even trickier to navigate when the equity market fell sharply at the start of this year.
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Opinion
The promise of European private placements
Mid-market companies in Europe are turning to the private placement markets to raise money in ever greater numbers, joining forces there with investors seeking to diversify risk and improve yield, says S&P Global Ratings’ Alexandra Krief.