Hedge funds may have been the winners in the bear market of 2002, but in the crisis of 2008 they were among the biggest losers. Locked in to losses by “gates” and other “side-pockets”, private investors have been disappointed by their performance in the market rally over the past four years. Today aversion to liquid [...]
Hedge Funds have performed poorly for the last 3 years compared to treasuries and corporate bonds, therefore people are questioning their relevance in portfolios. We believe there’s a place in each portfolio for this kind of investment as long as it is allocated in the relevant asset class and, most importantly, when the managers are [...]
Equities Cyprus convincing investors to bide their time Bonds Cyprus crisis brought underlying trends to a halt Even though news from the eurozone has been dispiriting, with the Cyprus crisis and disappointing Q4 2012 company results, equity markets in the developed world have proved quite resilient, bolstered by investors reshuffling portfolio allocations towards equities. Since [...]
Mixed releases in terms of countries In terms of countries, the figures were mixed as 7 out of 13 reporting countries posted a monthly contraction. As for core countries, Germany, France and the Netherlands reported a monthly rise in February, by respectively 0.9% m-o-m, 0.8% m-o-m and 3.4% m-o-m, whereas Finnish production declined by 1.6% m-o-m. Meanwhile, for the [...]
In this issue: Editorial outlook: Financial repression reaches Cyprus (p2) Macroeconomics: Eurozone holding its breath over Cyprus (p4) Strategy: Cyprus has sown confusion rather than contagion (p6) Headline news from around the world (p8) Asset classes: Banking shares under pressure (p10) Topic of the month: Solving the Cypriot crisis (p12) Key figures (p15) Download Perspectives in your language: English / Français / [...]
Just as investors had begun to regain some confidence in recent months in the EU’s ability to respond appropriately to the crisis of the single currency, the proposed means of financing the bailout of Cyprus’s banks has abruptly reminded them of growing financial repression in the large, overindebted Western economies. As the following chart shows, [...]
Following his recovery from leukaemia in 1988, the celebrated tenor José Carreras created a foundation dedicated to the single objective of making the illness 100 per cent curable.
Though some have roundly criticised the impact the commodities boom has had on the environment and sustainable development, the changes it implies might well turn out to be to Mother Nature’s advantage in the much longer run.
The redesigned Perspectives features: a strong emphasis on readibility and clarity, allowing you to quickly scan headlines and jump into the articles you are interested in; a link to related articles and themes shown at the bottom of each article; a new mobile version optimized for smartphones and tablets; a simpler site architecture, differentiating the various [...]
The Cypriot parliament’s overwhelming rejection of the proposed levy on bank deposits has piled confusion upon uncertainty. In this note, we have looked back at the origins of the crisis, explored the kind of options left open to the authorities and pinpointed some of the consequences for investors. Origins of the crisis The attractiveness of [...]
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