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IPE Real Assets (September/October Issue)

2018/ 10/ 01 by jd in Global News

“Real estate is often said to be a long-term, buy-and-hold asset class for institutional investors. But the success of investments invariably comes down to getting the timing right.” Recently, “a handful of fund managers” have “sold to bigger parties, either fully or partially.” This raises the question whether the latest round of M&A is a signal. Though it is a “possible canary,” there are other reasons for M&A. The prevailing outlook amongst investors and managers is for “a supportive market environment in the short to medium term” and “an extended cycle, albeit a flat one in terms of capital value growth.”

 

Institutional Investor (December 1)

2017/ 12/ 02 by jd in Global News

“Next year’s first review of Europe’s Solvency II regulations has given fund managers and consultants a platform to voice their concerns.” Though “most asset managers agree that the rules have enhances insurers’ understanding of investment portfolio risk” many also feel that the “policymakers mispriced asset risks” leading to unintended consequences. In particular, restrictions that “effectively ruled out some assets which could have provided higher, albeit riskier, returns” have proven particularly odious for annuities.

 

Institutional Investor (September 12)

2016/ 09/ 13 by jd in Global News

“Weak markets and worries about growth are putting pressure on fund managers across Asia. Chinese stocks barely began recovering from the summer 2015 meltdown before taking another hit earlier this year, while investors in Japan turned bearish on Prime Minister Shinzo Abe’s economic policies as growth slowed.”

 

Bloomberg (May 31)

2015/ 06/ 01 by jd in Global News

“Recent scandals at Takata (deadly airbags) and Toshiba (dodgy accounting), and Sharp’s ongoing angling for a government rescue when it should be shedding unprofitable businesses, are a reminder of how far Japan still needs to go.” Despite recent governance reforms, “Japan remains 30 years behind its peers in how its companies are run. Corporate Japan still indulges in cross-shareholdings and permits itself male-dominated boards, and the country’s timid media does little to hold it to account.” Still, progress is being made. “Some companies are starting to display the behavior Abe wants, and for which” overseas fund managers have “been agitating.”

 

Institutional Investor (June 19)

2014/ 06/ 20 by jd in Global News

“Income potential and low interest rates are fueling pension fund interest in commercial real estate.” Fund managers struggling to find “investments that can match long-term liabilities and fight inflation”  are finding “some measure of calm” in real estate.

 

Wall Street Journal (December 26, 2013)

2013/ 12/ 28 by jd in Global News

“The Nikkei’s strong performance this year hasn’t dented the enthusiasm of international fund managers.” In the first 11 months of 2012 foreign investors brought inflows of 830 billion yen into Japan’s stock market. In 2013, inflows from foreign investors soared to 14.8 trillion during the same period.

 

Reuters (September 25)

2013/ 09/ 27 by jd in Global News

“Long-term foreign investors are looking into small cap Japanese shares…. Some fund managers have been dabbling in subcontractors of big Japanese exporters while others look at companies whose coverage by analysts is low and have been neglected by international investors.” At recent Tokyo conferences, the number of overseas money managers has dramatically increased, with many attendees driven by a desire to find out more about small caps.

 

Investment Week (May 14, 2013)

2013/ 05/ 16 by jd in Global News

A recent sentiment poll by Bank of America Merrill Lynch shows that worries over the commodity sector are moving to the fore as fears over Europe dissipate. “A quarter of respondents to the Bank of America Merrill Lynch’s monthly poll on manager sentiment said a commodity collapse is the number one tail risk, an increase from 18% in April.” In contrast, respondents identifying “EU sovereigns and banks as the number one tail risk dropped to 29% from 42% in April.”

 

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