Transfers: Ida Lerner swaps DNB to join ING as CFO
This week’s overview of people moves in the investment industry includes new leadership appointments at ING Group, Carne Group, and Haca Partners.
Bluemetric: private equity – one step back and two forward?
Private equity has never lagged so far behind publicly listed equities in terms of returns. The asset class faces major challenges, including disappointing distributions, higher financing costs, and geopolitical uncertainty. Has private equity lost its shine, or is this just a temporary phase in a cyclical pattern?
Private-credit LPs told to worry about returns, not cockroaches
The problem with private credit is not that it might blow up the financial system. It’s that it might just not be a very good investment.
Passive by default: is euro credit sleepwalking through a shifting landscape?
Euro credit is often treated as the quiet corner of portfolios – stable, low maintenance, and easy to overlook. That assumption is under pressure. Structural biases and shifting market dynamics are making passive exposure harder to justify.
Chart of the week: 海 市 蜃 楼
The title of this column is the Chinese word for “mirage” or “illusion.” Hot air, in other words. Just like the impressive Chinese growth figure that was proudly announced this week.
Morningstar: Candriam versus Robeco in global high yield bonds
During the third quarter of 2025, investors who assumed moderate credit and duration risk were rewarded, as the European Central Bank kept interest rates unchanged at its July and September meetings, while the U.S. Federal Reserve cut rates once in September.
Investors are rediscovering Europe’s value, says M&G
Bhavneet Ahluwalia, investment specialist at M&G, says value investing in Europe is reasserting itself in a changing global landscape.
Vive la France!
Last week, the French government survived two motions of no confidence, mainly by promising not to raise the retirement age from 62 to 64 for the time being. For S&P, however, this was reason enough to downgrade France’s credit rating from AA- to A+. It may seem like a minor detail, but for managers of fixed income funds that require at least AA-rated investments, it created an immediate problem. Did all those French government bonds suddenly need to be dumped?
Why water investments are struggling
Disrupted supply chains, volatile market conditions, and lagging investments have made investing in the water theme challenging. In recent years, European investors have withdrawn billions from water funds.
Last wave of traditional managers embraces the active ETF model
As active ETFs grow beyond niche status, some of the last traditionally active managers, including Columbia Threadneedle and M&G, are entering the European market with strategies that blend research conviction and daily oversight.