In Part two of this series on alternative investment strategies, we described the most important strategies “trend following”, “global macro”, and “long/short equity”. In this Part three, we will be looking at approaches that are less well-known but equally tried and tested.
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Alternative investment strategies: part 2
After illustrating what alternative strategies are in part 1 of this series, how they work, and what benefits and disadvantages they come with, we would now like to discuss some of the most important representatives of this set of strategies. In the following strategies (also called hedge funds), the majority of the capital invested is allocated to alternative models.
A niche product with solid returns: hybrid and subordinated bonds with investment grade rating
Author: Christin Bahr, Product Management Securities Erste Group It has been half a year since the launch of the new hybrid bond fund. Reason enough for us to talk to Roman Swaton, Senior Fundmanager.
Alternative investment strategies: part 1
Author: Christian Süttinger Senior Fund Manager Multi Asset Management In the USA, gradually rising interest rates have already become reality. In Europe and in another large economic area, i.e. Japan, the subdued economic development has prevented interest rates from increasing to date. The European Central Bank manages interest rates in such a way as to […]
Afterthoughts on the Turkish referendum
After the ballots were counted on 16 April 2017, the state-run Anadolu news agency reported that “Yes” had won by securing 51.4% of the votes, which was later also confirmed by the Electoral Commission. Serious concerns were raised by the OSCE. It is also important to note that the referendum took place during a “state of emergency”. That is to say, in a highly repressive climate in which the President and the government controlled the media, jailed critical journalists and leaders of pro-Kurdish parliamentary opposition, and arbitrarily detained and prosecuted the President’s opponents. The result of the referendum has paved the way for the most controversial changes that Turkey has faced in its history.
My impressions from IMF meeting in Washington: Emerging markets “alive and kicking”
The spring meeting of the International Monetary Fund was held in Washington from 20 to 23 April. This event was the reason for an investor conference that I attended in order to get an idea of the status quo of the global economy as well as of risks and opportunities.
What the Turkish referendum means for the capital markets
A “Yes” to Erdogan’s planned constitutional amendment in Turkey would constitute a double-edged sword for investors: the planned presidential system could mean a short-term relief for the markets and for the economy. However, in the long run, this scenario harbours big risks. That being said, a “No” would not help investors either.
Czech National Bank removes currency floor
Author: Anton HauserSenior Fundmanager Emerging Market Bonds Three and a half years after introduction, the Czech National Bank decided today to remove its 27 CZK/EUR currency floor. Many investors were expecting this decision. Indeed, this trade is currently one of the most popular ones among investors. As expected, the Czech koruna appreciated slightly against […]
High yields and a potential turnaround make LATAM bonds an interesting investment
Autor: Christian Gaier, Head of Fixed Income Rates, Sovereigns & FX, Erste AM I would like to share my impressions from my latest investor conference in London that I attended on 16th January 2017. The conference was organized by Banco Bilbao Vizcaya Argentaria (BBVA), a leading global financial group with a strong franchise in 35 […]
Brazil: Hope for change stimulates bonds
Author: Felix Dornaus, Senior Fund Manager Emerging Markets Bonds Brazil tactically overweighted at the moment Most of the fundamental economic data are currently not good. In 2016, the country is in recession; for 2017, a minor growth rate of +0.7% is expected. The nominal budget deficit of 2016 is about -10%, with a primary deficit […]