Studies
In this paper we take a look at why Europe's economic recovery caught most observers by surprise in 2009 and we examine the outlook for Europe in 2010.
The debate about the merits of active and passive investment management has received much attention recently in the aftermath of the global credit crisis and in light of the failure of a number of active strategies to meet investors' requirements during that crisis.
The debate about the merits of active and passive investment management has received much attention recently in the aftermath of the global credit crisis and in light of the failure of a number of active strategies to meet investors' requirements during that crisis.
The debate about the merits of active and passive investment management has received much attention recently in the aftermath of the global credit crisis and in light of the failure of a number of active strategies to meet investors' requirements during that crisis.
Over the course of the decade or so that preceded the onset of the credit crisis in 2007, Newton had grown increasingly concerned about the over-indebtedness of the Western consumer and financial system.
With authorities around the world seeking to repair defective credit markets and to alleviate the consequences of the credit 'crunch' for consumers and companies, the rates of income payable on most asset classes have changed significantly.
Since October, major Western government bond yields (in the US, the UK and Europe) have fallen to unprecedented lows. Global economic growth has fallen off a cliff and the authorities have moved beyond 'normal' monetary policy responses to adopt radical measures to combat the growing global slowdown.
Investors are subject to several different risks, one of which is the risk that their investment returns will differ substantially from those they envisage (in relation to their benchmark). In this article, we consider one particular measure of such risk,'tracking error'.
The trouble with economic statistics is that they really don't discriminate between 'good' and 'bad' economic activity. For instance, the sale of drugs to combat lung cancer and the selling of cigarettes are both included in GDP statistics as if they were both equally positive for society and economic health.
Welcome to the first edition of our new quarterly institutional update, inPerspective. We hope, via the publication of this update, to provide over time an insight into how we invest and, in particular, as to how we use a distinctive, thematic approach to achieve perspective and fulfil our clients' objectives.
Negative sentiment currently dominates the equity markets. Retail investors are exiting equity markets throughout Europe (and the world) as the credit crunch continues to destabilise the financial system.
We don't seem to know very much for certain right now (except that we aren't allowed to use the phrase "bail out" because it has too many negative connotations and that we must substitute the much nicer "rescue plan").