Erste Asset Management - Blog

Posts on: Bond Funds
https://blog.en.erste-am.com/wp-content/uploads/sites/13/2017/05/iStock-519361751-890x390.jpg
Johann Griener am 05th May 2017

Curves (part 4) – the premium, or spread, is the clincher

(c) iStock

The interest rates, or coupons, that bonds pay differ due to a variety of parameters. If bond A pays a higher interest rate than bond B, this premium is referred to as spread.

Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2017/04/iStock_kurs_aktien_000020656499_XXXLarge-890x390.jpg
Gerold Permoser am 27th April 2017

Are we heading for inflation?

(c) iStock Photo

The rate of inflation has been quite substantial most recently, in comparison with the recent past and surprisingly so for many market participants. The harmonised consumer price index for the Eurozone was 2% higher on a year-on-year basis in February, which was also the highest value since 2013.

Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2017/04/Fotolia_14375812_L-890x390.jpg
Gast-AutorIn / Guest Author am 06th April 2017

Czech National Bank removes currency floor

(c)Fotolia

Author: Anton Hauser
Senior 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 the Euro. In the short term the currency will remain volatile, as a lot of speculative money is involved. In the long run I expect that the Czech koruna will continue to appreciate given the strong fundamentals of the Czech economy.
Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/12/iStock_000013878393XLarge_FED-890x390.jpg
Gerhard Winzer am 16th December 2016

US central bank confirms trend reversal

(c) iStock

We have seen a number of trend reversals this year, one of them being the end of the negative growth surprises. The forecast of economic growth and inflation are currently not subject to downwards revisions any longer. Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/12/Fotolia_117389232_Shanghai_L-890x390.jpg
Gabriela Tinti am 12th December 2016

High dividends with real estate funds

(c) Fotolia

Authors:Gabriela Tinti (Senior Fondsmanagerin Aktien Schwellenländer)
Stephanie Clam Martinic (Senior Fund Manager Multi Asset Management) and Gabriela Tinti (Senior Fund Manager Equities Emerging Markets)

In spite of the increase in prices, the interest in real estate is unwaning

In view of the current level of real estate prices, direct real estate investments are hardly affordable anymore for private investors. The purchase of real estate requires substantial equity at the outset, which for the investors is associated with high risk. In addition, incidentals and administrative costs for the construction and maintenance of the construction project are a burden. Whoever wants to buy real estate, should also have the necessary know-how in the field, because any two properties are never the same. An alternative solution to participate in the rising value of real estate is to invest in real estate funds.Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/10/iStock_Bangkok_Thailand_Tourists_ride_Khaosan_Road_Nov_2013-890x390.jpg
Paul Severin am 25th October 2016

Emerging markets bonds in demand

© iStock.com

Economic growth in the emerging markets has picked up substantially, while that in the industrialised economies has been rather stable. This has led to an increase in the growth differential in the emerging markets’ favour. Investor demand for emerging markets bonds has been on the rise in search of higher yields and interest rates.

Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/08/Fotolia_107008750_L-890x390.jpg
Paul Severin am 31st August 2016

Spotlight on: corporate bonds

© Fotolia.de

ESPA RESERVE CORPORATE: 3 questions for Bernd Stampfl, fund manager.

 

Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/08/iStock_16367603_XLARGE-890x390.jpg
Gast-AutorIn / Guest Author am 10th August 2016

Brazil: Hope for change stimulates bonds

© iStock.com

Author: Felix Dornaus, Senior Fund Manager Emerging Markets Bonds

Felix Dornaus, Senior Fund Manager Emerging Markets Bonds
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 of -2.7%. This comes as a surprise, given that investors had been used to primary surpluses from Brazil. The current account is also slightly in deficit. The only silver lining is the low foreign government debt of less than 20% of GDP, accompanied by high foreign exchange reserves. We therefore do not expect any issues for bondholders with regard to the payments they are due.

Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/07/iStock_76142303_XLARGE_Kuala-Lumpur-890x390.jpg
Paul Severin am 21st July 2016

The comeback of the Emerging Markets

© iStock.com

Interview with Christian Gaier, Senior Fund Manager for emerging markets government bonds

Emerging equity and bond funds have borne the brunt of the consequences of the global uncertainties in the past years.  Wars and conflicts in the region, slumping commodity prices (especially oil), and fears of an interest rate reversal in the USA have caused many investors to withdraw their capital and “park” it in safe havens. Now signs are indicating that investors have been staging a comeback.

Read more

https://blog.en.erste-am.com/wp-content/uploads/sites/13/2016/05/Fotolia_44983429_XL-890x390.jpg
Harald Egger am 31st May 2016

How stock ratios can help build a sector-strategy portfolio (part 2)

© Fotolia.de

In the first part of our sector analysis we explained and examined numerous stock ratios. In this part, we want to have a look at how these ratios can inform strategic considerations and what insights can be gained for the composition of an attractive sector-strategy portfolio.

Read more

Subscribe to Blog by E-Mail