Sarasin, Capital cautiously navigate rate transition
Investment specialists are singing from a common hymn book in predicting the world is on a path to lower inflation and treasury yields, though they carefully call attention to possible transitional effects, Investment Officer heard while covering two recent investment events in Luxembourg hosted by J. Safra Sarasin and Capital Group.
Transfer Thursday: Fidelity, Alma LED, Fundcraft
This week’s overview of transfers, appointments, promotions and other people news includes updates from Fidelity, Alma LED Luxembourg, Fundcraft and Better Finance.
Christine Baalham and Tom Record
Christine Baalham and Tom Record have been appointed as co-portfolio managers in the global equity team at Fidelity International. Veteran portfolio manager Jeremy Podger will transition to a senior advisory role in March 2024.
InsingerGilissen sees scope to take a bit more risk
In an uncertain geopolitical and macroeconomic environment, Iris van de Looij has recently taken charge of investment teams at InsingerGilissen, Quintet’s private bank in the Netherlands. The bank is currently in a slightly defensive mode, but sees scope to add some more risk to its portfolio again.
Deblanc named CIO of M&G’s private markets business
M&G Investments has appointed Emmanuel Deblanc as chief investment officer to lead its 86 billion euro private markets business. Deblanc, most recently at Allianz Global Investors, brings two decades of experience in investing in private credit, structured credit, impact and private equity, real estate and infrastructure.
Norway’s ‘Oil Fund’ reports record profit of 196 bln euro
Norway’s Government Pension Fund Global, the largest sovereign wealth fund globally, on Tuesday announced a record-breaking profit of 2.22 trillion Norwegian kronor (approximately 196 billion euro) for 2023. This achievement was primarily driven by substantial returns from investments in technology stocks.
The results marked a significant turnaround from its 1.64 trillion kronor (about 140 billion euro) loss in 2022, primarily due to a downturn in tech stocks.
Atoz Services buys money-bleeding Fund Solutions
Atoz Services, described as the largest tax advisory firm in Luxembourg outside the Big 4, announced on 29 January its acquisition of former rival Fund Solutions, a money-losing Luxembourg firm offering outsourced fund administration services for listed and unlisted corporations, private equity and real estate funds.
The time for true green investing is now
As the global investment community grapples with a fluctuating market and evolving attitudes towards ESG (Environmental, Social, and Governance) funds, a nuanced story is emerging from Europe. This narrative, against the backdrop of Amundi’s “Responsible Investment Views 2024” report and innovative steps by Mirova and Robeco, is further illuminated by Morningstar’s latest findings on global sustainable fund flows.
Group led by Mirova, Robeco plans emissions avoided standards
A consortium led by French and Dutch asset managers is progressing towards setting a global industry benchmark for quantifying greenhouse gas emissions averted through low-carbon solutions.
Allianz’s Dixmier sees no evidence of slowing Euro inflation
Allianz Global Investors’ Franck Dixmier expects faster monetary easing in the US now that inflation there is now largely under control. But only later in the year. In terms of allocations he favours investment-grade credit, emerging debt and sovereigns with short maturities.
ECB Watch: A turbulent 25th anniversary
What an extraordinary month the first month of this year proved to be for the European Central Bank (ECB), indeed! To begin, this month marked the 25th anniversary of the euro’s inception. To commemorate this milestone, major newspapers across eurozone countries published an article by ECB President Christine Lagarde, among others, just before the year-end.