Investment Management
Review - Volume 3 : Issue 3
What's in Volume 3 : Issue 3?
EUROPEANS RIPPED OFF BY HIGH FEES?
It looks like fees might fall in the worlds of pensions and hedge funds, with new structures, but a top research house hints that Europeans are still being ripped off.
STARS DIM, GRAVY TRAIN CONTINUES
Though there are grounds for believing that stars are a dying breed, others blame the star culture for fund managers’ pay shooting through the roof. How are companies coping?
LONDON’S LEADERSHIP CHALLENGED
London’s lead status in the world of finance is believed to be coming under pressure. How justified is this perception?
WILL FIDELITY RISE AGAIN?
Fidelity is on the way to recovering some of its former illustrious reputation
CONFUSION IN FUND MANAGEMENT
Leading industry personnel, including consultants and asset managers, are at odds on two important structural issues.
STATE FUNDS IN THE SPOTLIGHT
Many love sovereign wealth funds, but the authorities are suspicious. The pros and cons of the two conflicting views are analysed
CONTRASTS ACROSS CONTINENTS
Asian and European investors have recently been providing sharp contrasts in their attitude to mutual funds. A newly fashionable type of fund has come under a heavy cloud for its failure to meet expectations in Europe.
SUBPRIME DISEASE SPREADS
The subprime disaster is leading to bigger dominos falling. The future of some investment banks might be in question.
SUBPRIME FALL-OUT FOR FUND MANAGEMENT
The damage from the subprime crisis is widespread throughout the global economy and the fund management industry is no exception. The philosophy of quantitative management has been badly tarnished. But there are also big winners from the crisis.
PRIVATE BANKING PROGRESS
Singapore has yet to establish credentials as a global centre. Investment bankers’ foray into private banking looked clever, but might now face difficulties.
MICROFINANCE APPROACHES A CROSS-ROADS
Profiting by helping the poor has been the basis of microfinance, but an ugly side is now rearing its head.
MASSIVE SHAKE-UP IN INVESTMENT DEALING
New regulations are shaking up the world of investment dealing, but it is not certain that investors will benefit in the end.
ARE TRADERS THE SAME AS ASSET MANAGERS?
Leading investment banks seem to suggest that there is not much difference between traders and asset management, which goes sharply counter to what many fund managers believe.
THE DANGERS OF ROGUE TRADING
The SocGen disaster raises questions about whether similar incidents are really occurring more often.
INVESTMENT BANKS UNDER SUSPICION
Academics and the Wall Street Journal have joined forces in suggesting that suspicious activity has occurred over the years inside leading banks.
COMPLEXITY OUT, DERIVATIVES IN
All derivatives strategies might be getting a bad name, some undeservedly. Others might actually be hastening corporate failures. Previously held back by the property boom, real estate derivatives are becoming popular, including those linked to housing.
THE DEATH OF SECURITISATION?
This industry was virtually paralysed by the subprime crisis, but many parts of it deserve to prosper.
HONEST ANALYSIS UNDER PRESSURE
The threat to analysts’ independence and honesty seems to be a worldwide phenomenon.
INNOVATIVE EXITS FOR PENSIONS
Innovative techniques are coming to the fore to help firms to run down pension schemes.
PENSION FUNDS FLEX THEIR MUSCLES
Not all pension funds justify their staid and boring image. Some are very enterprising.
SERIOUS FLAWS IN DC SCHEMES
Large numbers are approaching retirement having been pushed into defined contribution schemes. The gross inadequacies of these need urgent attention.
HEDGE FUNDS SUFFER A MAJOR BLOW
The credit crisis is leaving many hedge funds short of a vital tool that has helped them produce good returns.
MANAGERS’ BACKGROUND MATTERS
The returns that hedge fund managers produce seemingly depend on where they come from.
DISTRESSED DEBT A WINNER?
As more companies default, distressed debt is supposed to be a good bet. This may not be true.
EXCITING BETS ON SHIPS
An ancient pastime returns to life in the form of betting on ships and their voyages. The modern game naturally involves derivatives.
THE COMING SCARCITY OF FARMLAND
Trends already established worldwide might lead to farmland becoming increasingly scarce.
VC STILL ROBUST
The trends in the US and Europe continue to diverge. Angels play a pivotal role at the bottom of the ladder.
ACADEMIC CORNER THE EMERGING MARKETS BANDWAGON – A CAUTION
Governance is still a country phenomenon
SIGNIFICANT SNIPPET GOLF BAD FOR SHARES
RISK MANAGEMENT IN THE LIMELIGHT
Dr Wolfgang Mansfeld covers important and topical issues, such as the fund manager’s role in managing liquidity, and risk management in the context of the latest regulations and the subprime and liquidity crises.
INDUSTRY PERSPECTIVES IN FIGURES
Figures in trillions and billions are bandied around. Comparisons put them in perspective