Investment Officer Global

The long-assumed stability of Europe is over. Wars on the periphery, a crumbling system of free world trade, and great powers using economic interdependence as a weapon: the continent is under pressure. “The world in which investors must navigate has become more unpredictable.”

This week’s overview of people transfers and appointments includes updates from Edmond de Rothschild Asset Management, KPMG and BDO Luxembourg, and Marktlink Capital.

Open defiance from Stephen Miran underscores political tensions at the Fed, though markets still expect gradual easing.

Van Lanschot Kempen is preparing to enter the active ETF market through a new partnership with State Street Investment Management. The Amsterdam-based boutique, known for its smallcap and euro credit strategies, will rely on State Street’s infrastructure and distribution networks to launch its first exchange-traded funds within six to nine months.

At ALFI’s private assets conference in Kirchberg, policymakers and asset managers championed private markets as vital for Europe’s growth and as a bridge for retail investors through ELTIFs. Yet speakers also warned that education gaps, transparency issues, and regulatory hurdles could constrain the sector’s ambitions.

Once seen as compliance or ideology, ESG is becoming part of ordinary risk management. Interviews with asset owners, managers and analysts in Amsterdam, the UK and the Netherlands show how sustainability is increasingly embedded in long term investment strategies.

Amundi and BNP Paribas pursue scale and expertise through mergers, but integration challenges create uncertainty over long-term benefits for investors.

It is March 2020 and Italy is in serious trouble. Italian long-term interest rates are rising rapidly, and the spreads with other eurozone countries are widening.