Apex appoints BDO’s Alfonso as global head of valuation
Financial services provider Apex Group on Monday said it has appointed Tony Alfonso as global head of valuation, a newly created role that will be in charge of valuation advisory services.
AT1 bank bonds in focus as Swiss force CS write-off
So-called AT1 bonds, also known as CoCos, were in focus on Monday as shares of European banks showed significant declines in the wake of the rescue of Credit Suisse engineered by Swiss authorities by merging it with UBS.
UBS, Credit Suisse merge into Europe’s largest G-SIB
UBS is acquiring industry peer Credit Suisse for 3 billion Swiss francs. They will pay 0.76 Swiss francs in UBS shares. The opening offer was initially 0.25 Swiss francs per share. As recently as Friday, Credit Suisse closed at a closing price of 1.86 Swiss francs, representing a market capitalisation of 7.3 billion Swiss francs. The combined entity will become Europe’s largest Globally Systemically Important Bank, also known as a G-SIB.
PGIM Investments: Where are the best REIT opportunities today?
After the severe REIT selloff in 2022, many property types remain significantly mispriced or undervalued. Rick Romano shares his optimistic outlook for these historic growth opportunities and which sectors offer the most value.
Investors scratch their heads over cursed 60/40 portfolio
After a formidable start for the capital markets in 2023, followed by the “SVB correction”, a consensus on the sense and nonsense of the 60/40 formula still remains to be found. Investment Officer takes stock again.
Chart of the week: and then everything was different
Little is more volatile than financial markets. One minute equity markets are stumbling over yet another mountain of additional interest rate hikes by central banks, the next we are waiting to see if those same central banks need to act to prevent another banking crisis.
Silicon Valley Bank collapse: What does it mean for interest rates and banks?
Silicon Valley Bank collapse: What does it mean for interest rates, inflation and banks?
Nordea AM: Positioning Stable Equities to combat higher inflation
Portfolio manager Claus Vorm believes the most successful companies in 2023 will be those with steady earnings and robust balance sheets, which can be stabilising forces against economic weakness and rising rates.
Lack of liquidity not seen as show-stopper for Eltif 2.0
Luxembourg is strongly enthusiastic about the prospects of the new Eltif 2.0 regime as experts here point to untapped demand for such a product in Europe. While acknowledging the oft-mentioned concerns about the lack of liquidity for retail investors, there was optimism at a recent investment event hosted by Clifford Chance that solutions could be found. Investors though would have to be open-minded, and some in-built tensions need to be addressed.
Top 5: UBS gold mine tracker leads precious metals funds
In a turbulent year like 2022, investors needed refuge, which was almost nowhere to find. Investments in oil showed outstanding performance, as one of the few areas in the financial markets. And then there were precious metals. Not all metals performed equally well though, and positive returns were mostly measured in euros.