The Brexit outlook: trading fish for Mifid equivalence?
‘Cod quotas traded for Mifid equivalences,’ is how Luxembourg For Finance CEO Nicolas Mackel humorously characterised how the on-going Brexit discussions might unfold. He was introducing the Focus On Brexit webinar hosted by LFF on 13th October, in which industry insiders traced some possible future scenarios.
‘Growth/value debate is pointless’
The debate between value and growth is pointless, says Guy Lerminiaux, CIO of Degroof Petercam Asset Management. ‘This is not a productive debate. You have to look at it on a company-by-company basis. In every sector you find winners and losers.’
Pimco: more volatility, less return
Investors will face tough challenges in the coming years, according to Pimco. While volatility will remain high due to the presence of numerous potential ‘disruptors’, return prospects have never been lower.
‘No need to worry about Chinese debt’
Foreign investors and central banks will continue increasing their allocation to Chinese government bonds. They offer a relatively high yield and are a safe investment, says Freddy Wong, head of Fixed Income Asia-Pacific at Invesco.
UBS AM: Biden victory will lift value stocks
Although different election outcomes may introduce more uncertainties into the economic outlook, they are unlikely to change fundamental realities.
AIFMD & UCITS reform cloaked in Brexit fog
On-going high-level talk about reform of AIFMD and UCITS is generating nervousness in the European asset management industry. Was the 18 August letter on this topic from ESMA to the European Commission really about seeking to promote efficiency, or is it more a post-Brexit reckoning that could upset current successful arrangements?
Schroders: Why sustainability matters to global cities
Despite a reputation for air pollution and high consumption, global cities can be a force for good in terms of sustainability, as fund manager Tom Walker tells us in this Q&A.
Quintet: sustainability ‘starting point’ of discretionary mandates
Sustainability will be the starting point for Quintet’s discretionary mandates, says James Purcell (photo), the new head of sustainable management at Quintet Group, in an interview with Investment Officer.
'Shopping centre valuations are 30-40% too high'
External valuations of retail properties are unreliable. Our models indicate considerably lower prices and therefore much higher debt ratios, says real estate specialist of Egbert Nijmeijer of Kempen Capital Management.
Retail property has been hit hard by the coronavirus crisis. Nevertheless, external surveyors were remarkably lenient in their half-yearly valuations. For example, for Eurocommercial Properties and Klépierre, which operate comparable medium-sized shopping centres in Europe, the downward revaluation was limited to just under 3%.
Déconfinement – Entre normalité et répits
Après le redémarrage de l’activité, les sociétés financières luxembourgeoises ont globalement gardé les pratiques qu’elles avaient instaurées durant le confinement. Si celles-ci sont désormais bien ancrées dans les esprits et dans les organisations, des questions fiscales et réglementaires pourraient en réduire la portée… une fois la pandémie éradiquée.