UBS AM: Job market resilience could prolong the late-cycle
Investors may be surprised at the resilience of the global economy in 2023. Here, Evan Brown and Ryan Primmer discuss how the Fed’s desire to keep financial conditions tight means risk assets are not out of the woods.
Bluebell wants Fink out, sees greenwashing at BlackRock
British activist investor Bluebell Capital Partners is aiming its guns at BlackRock, the world’s biggest asset manager, and its CEO Larry Fink, criticising the firm for its ‘hypocrisy’ over its ESG and sustainability practices while drawing attention to its failure to exercise proper ESG stewardship. The asset manager’s behaviour risks becoming “an obstructive force” to the effective functioning of capitalism, it said, calling for Fink to step down.
Merit flagship fund renamed as Dierickx Leys Fund III
Following the precarious situation surrounding troubled Belgian broker Merit Capital and its financial problems, the management of its flagship Merit Capital Global Investment Fund has now been full transferred to Belgian private bank Dierickx Leys. The 400 million euro fund will be renamed Dierickx Leys Fund III.
IO Talks: valuation experts move centre stage
Luxembourg has recently seen the launch of the Luxembourg Valuation Professionals Association, known as LVPA. Valuations are “extremely strategic for building trust with your investors,” said Hind El Gaidi, one of the LVPA’s co-founders. For this Luxembourg edition of the IO Talks podcast, El Gaidi spoke to Investment Officer together with three fellow co-founders: Christophe Vandendorpe, partner at EY; Rafaël Le Saux, director at PwC; and Antoine Boggini, co-founder at BHB & Partners, an independent advisory firm.
Due diligence directive: EU on course to exempt funds
Ministers of the 27 EU member states have backed a proposal that makes it possible for countries to exempt banks and investment funds from planned EU rules that will require companies to report their impact on human rights and the environment.
Gold reserves at highest level in nearly half a century
Central bank gold reserves have risen to their highest level in nearly half a century. Particularly emerging market central banks bought the precious metal big this year, influenced by a strong dollar and international sanctions against Russia.
Fidelity - Overview: Rates overshoot risks inflation bust
Inflation has dogged markets this year and is likely to remain high, bringing an end to the era of easy money and increasing the risk that overtightening by central banks will trigger a sharp recession, an ‘inflation bust’.
BLI’s Wagner expects deeper global slowdown in 2023
Although the global economy finds itself in a slowdown phase, it continues to demonstrate resilience thanks to domestic consumption in the US and government relief measures to reduce energy bills in Europe, Guy Wagner, Chief Investment Officer at Luxembourg asset manager BLI - Banque de Luxembourg Investments, said in his latest investment report. Over the next year however, he expects the global slowdown to deepen.
Chart of the week: why easy? Difficult is also possible!
No, this is not a column about the Netherlands’ performance at the World Cup. Although, of course, the title fits this seamlessly. This column is about China and its Covid issues.
PGIM Investments: Uncertainty Means Opportunity for Global Macro
Liquid alternative solutions can provide answers to pressing questions posed by current conditions, according to PGIM Wadhwani’s Michael Dicks.