Morningstar: Robeco vs Van Lanschot Kempen
This week, we are comparing two asset managers rather than individual funds. When analysts evaluate a fund, they assess and assign ratings to its People and Process pillars while the methodology for Morningstar Medalist Ratings also incorporates and assessment of the Parent pillar. This Parent pillar is our focus this week.
Defense stocks struggle to keep up with the expectations treadmill
The German Bundestag’s decision to boost defense spending through debt issuance triggered a correction in European defense stocks. Investors are taking profits on high valuations as questions arise about whether they are still justifiable.
Supervisory gaps threaten cross-border access to private markets
ESMA has asked the European Commission to clarify Eltif 2.0 implementation rules, as inconsistent supervision across member states risks delaying investor access to semi-liquid private market funds.
Fannie Wurtz (Amundi): ‘Appetite for European stocks has increased significantly’
Fannie Wurtz from Amundi Asset Management, notes that a striking number of Asian investors are channeling their savings into European funds. The French executive is also optimistic about the sector’s long-term prospects. “Several megatrends are driving the European market.”
Analysts surprised by European bank rally
European banks are in solid financial shape, and interest income is exceeding expectations. Still, bank analysts are raising eyebrows at the sector’s sharp rally.
NRF: New circular issued to resolve the VAT saga on directors' fees
Final clarity at last? Luxembourg ends long-running VAT saga on directors’ fees with new guidance and refund framework in Circular 781-2.
After ‘years of work,’ Blackrock’s bitcoin-ETP has arrived
Blackrock has been working for “years” on launching a European bitcoin ETP. The asset manager officially introduced it this Tuesday morning on the Dutch, German, and French exchanges.
Raif growth continues, but signs of caution emerge
Luxembourg’s Raif market shows resilience in 2024, but Investment Officer’s data analysis shows slowing sub-fund launches, revealing growing caution in alternative fund markets.
El-Erian: ‘Yields won’t drop further without a recession’
The probability of a U.S. recession is rising, but it is not yet the base case for markets, former Pimco chief executive Mohamed El-Erian told Investment Officer. While the economy is slowing, it has not yet reached “stall speed,” and unless a full-blown downturn materializes, bond yields are unlikely to fall significantly.
The underestimation of artificial intelligence
The training landscape of artificial intelligence has taken an unexpected turn—one that challenges classical economic principles. More data leads to better performance, with no signs of saturation.