Portfolio

There ought to be a relationship between yields available on equities (earnings or dividend yields) and those on index-linked gilts and other inflation-linked bonds Ex-ante, and adjusted for risk, expected returns should be similar across asset classes. In the case of equities and index-linked bonds, both asset classes give you… Read More »

The depreciation of the Yuan against the US dollar by 3.4 percent last week caused by reform to the fixing method sent reverberations across commodity markets, revitalizing gold’s safe haven status Long WTI and Brent crude oil ETPs received US$ 48.2mn and US$12.0mn respectively marking the seventh consecutive week of… Read More »

The Shenzhen and Shanghai Stock Exchange ranked first and second in the world, respectively, in 1H15 by deal numbers. NASDAQ is now the third-busiest exchange globally and NYSE the fourth Asia overtakes the US with China that leads Asian IPO boom. According to the quarterly EY Global IPO Trends: 2015… Read More »

2015 could be the year we finally see rising interest rates in the U.S. This creates an opportunity to reassess portfolios and asset classes and evaluate how they performed during historical periods of rising interest rates. While the past can never guarantee the future, historical context is important for understanding… Read More »

Interestingly gold remained resilient, seeing its price rise in US dollar terms for a second straight week, despite outflows from gold ETPs. The key to the commodity complex’s fortunes is China’s growth path and the market is on the lookout for further stimulus in the country Inflows into long WTI… Read More »

European ETF market flows continued their positive trend in July 2015. Net New Assets (NNA) during this month amounted to EUR 7.8BN, after a positive month of June with EUR 1.5BN of inflows. Total Assets under Management are up 22% compared with the end of 2014, reaching EUR 444BN, and… Read More »

Given the ongoing normalisation of US-Cuba relations, M&G has been looking at the impact that this unprecedented shift in policy could have on the region Although the embargo and travel restrictions remain in place and still need to be modified by the US Congress, an eventual lifting of sanctions would… Read More »

The US dollar continued to appreciate (Dollar Index up 0.4% in the week), weighing on the commodity complex Contrarian investors drive inflows into long crude oil ETPs to a 19-week high. Marking the fifth consecutive week of inflows, we saw US$52.5mn of flows into long Brent and WTI crude oil… Read More »

Chair Janet Yellen continues to transparently telegraph the thinking of the Federal Reserve. We believe the Fed intends to hike at least one time this year and that future rate increases will be well paced US: US fixed income markets were generally flat to slightly positive this month?to?date. US high… Read More »

Switzerland is one of the biggest investors on ETFs. The company entered in this market in April 2015 and now have 8 UCITS ETFs listed on the SIX Swiss Exchange. McNeil (WTE): “A potential solution is to employ smart beta indexing strategies” Switzerland is one of the biggest investors on… Read More »