As a large lender in private markets, Aviva Investors has access to a pool of proprietary data they use to analyse market trends and enhance investment decision making. The data shows that during economic downturns or periods of market stress, illiquidity premia tend to be squeezed as private debt...
Janus Henderson Investors’ Credit Risk Monitor tracks key indicators which impact credit portfolios.
• “Cashflow and Earnings” and “Access to Capital Markets” indicators have moved to amber from red over the last quarter, but concerns remain over “Debt Loads and Servicing”.
• The widespread decline in inflation, accompanied by resilient consumer...
Rapid growth of this opaque and highly interconnected segment of the financial system could heighten financial vulnerabilities given its limited oversight.
From Charles Cohen, Caio Ferreira, Fabio Natalucci, Nobuyasu Sugimoto, International Monetary Fund
The private credit market, in which specialized non-bank financial institutions such as investment funds lend to corporate borrowers, topped $2.1 trillion...
BetaShares has two dedicated hybrid ETFs:
BetaShares Active Australian Hybrids Fund (ASX:HBRD), which is actively managed
BetaShares Australian Major Bank Hybrids Index ETF (ASX:BHYB), which is a passive fund that aims to track the performance of Solactive Australian Banking Preferred Shares Index
It’s important to note BetaShares’ two hybrid funds...
Commentary from Paul Miron, Managing Director and co-founder of Sydney-based private credit provider Msquared Capital, on the importance of transparency in the private credit market.
"As the secured private credit market increases in popularity in Australia, it is evident that the sector is experiencing growing pains. The media is rightfully waiving...
The combined US unemployment and inflation picture suggests the Federal Reserve (Fed) will take monetary policy easing slowly. Two more 25 basis point (bp) cuts are expected this year. Progress towards a neutral stance probably needs inflation to decline a bit more and the labour market to ease a...
Janus Henderson portfolio managers Tim Winstone and Tom Ross recently published a paper about credit rating downgrades during 2020 and the opportunities for companies listed as sub-investment grade to make a comeback. Higher credit ratings and a return to investment grade will likely result in higher bond prices, creating...
Dr Noah Weinsberger, Managing Director and Dr Xiang Xu, Senior Associate, at PGIM have drafted a very valuable, technical paper assessing stock bond correlations. Here we publish the key take aways.
Stock bond correlation is considered an important input for multi-asset portfolio construction.
For the last 20 years, Developed Market...
In trying to absorb the “new normal,” capital markets have re-priced assets in ways that create a more balanced picture between equity, fixed income and alternative options, according to Stephen Dover, head of Franklin Templeton Institute.
According to Dover: “In a recent discussion, the Franklin Templeton investment managers broadly agree...
