Norway’s central bank, Norges Bank, has confirmed it will become a net buyer of NOK as it executes transfers linked to the assets of the country’s giant sovereign wealth fund – Government Pension Fund Global – helping send the local currency higher on FX markets. The policy is being introduced because of the fact that […]
Sovereign wealth funds will play a key role in the “disappearance of hundreds of billions of dollars” from the private sector asset management industry over the coming decade, as some of the world’s largest investors become investment managers by buying into the sector, says KPMG.
Europe’s central bankers “crossed the Rubicon” by buying Spanish and Italian debt and brought “a much-needed and credible external balance sheet” to fight the eurozone debt crisis, but significant uncertainties remain around how to do the purchasing, says Pimco’s Andrew Balls.
Pimco founder Bill Gross has set out an extensive plan for Washington to tackle its debt mountain, but still suggested Beijing stop lending more to the US.
Introducing Brady Bonds, akin to Latin America’s in the 1980s, to Europe would represent a humiliating admission Europe’s peripheral states are in essence emerging economies, but would be preferable to the current death by one thousand spending cuts, according to Renaissance Asset Managers.
BlackRock is strengthening its senior management’s experience in European fixed income, the most troubled but most important asset class for many clients, by appointing bond specialist Michael Krautzberger chief investment officer of its German unit.
Morningstar is to reveal quarterly returns of about three quarters of the world’s largest hedge funds – dubbed the ‘Billion-dollar Club’ – but only to institutional clients.
A comprehensive report of intermediaries and their clients in the Gulf region suggests that political instability is behind the noticeably short-term time horizons of local investors.
A group of European third party hedge fund marketers is planning to establish an association to represent their industry and set out a code of conduct, in a further sign of the $2trn industry regulating itself.
Moody’s has cut its credit rating of Greece by three notches, placing it deeper into the junk category, on concerns it will not be able to stabilise its debt pile.
Genevan asset manager Reyl & Cie and emerging markets specialist Samena Capital have formed a joint venture to integrate their activities including wealth management, and hedge fund seeding in Asia.