TURNKEY SOLUTIONS FOR WEALTH MANAGER AND FUND MANAGER
UBS announced that it will charge clients negative interest from July 2021 if cash balances exceed CHF 250’000. Many other banks have followed suit and are also charging negative interest on CHF and EUR cash balances. This measure is dictated by current money market rates, which are severely negative as demonstrated in Chart 1 for […]
Cash Plus Solution Read More »
Last Week, the Fed announced that it is going to buy single corporate bonds to ensure a functioning secondary corporate bond market, which is a historical move and a positive sign for a market that was close to collapsing in March this year, when liquidity disappeared just in a matter of days. The Fed is
Fed installs Backstop for Corporate Bonds Read More »
Direct lending returns have historically been driven by consistent double-digit income returns, with a range between 10% and 12%. The slow decline in credit spreads within the CDLI over the last several years is a product of overall credit spread compression, but also the gradual increase in the proportion of lower-yielding senior loans in the
Direct Lending – Performance Analysis Read More »
In einer Serie von Fachartikeln thematisieren und präsentieren wir Investment Opportunitäten, welche aktiv als Bausteine in unseren Absolute Return Portfolios eingesetzt werden. Bislang haben wir die folgenden Themen vorgestellt: “Structured Credit”, “Direct Lending” und Anlagen in “Indian Fixed Income”. In unserer neuesten Ausgabe stellen wir das Thema “Secured Lending” vor. Nach wie vor befinden wir
Secured Lending – Insight Read More »
Generally, a “secured” loan is backed (or secured) by an asset. Hence, the borrower pledges an asset (i.e. in our example a property), as collateral in favour of the loan. In the event that the borrower defaults, the creditor takes possession of the asset and sells it to recover the amount originally lent to the
Secured Lending backed by an asset Read More »
Most recently, the real yields (nominal 5-year government bond yield adjusted for inflation) in Indian bonds have exceeded the threshold of 5%. While we believe this elevated level will be only temporary, we still expect continued positive real rates in the Indian Rupee as it was the case since 2014, when inflation started to fade.
Indian local bonds offer attractive Yields Read More »
In a world of historical low interest rates and (very) high debt burdens combined with an economic outlook that foresees only moderate global GDP growth, it is a fair assumption that structural inflation pressure should remain tame – at the minimum for the next few years to come. Moreover, central banks responded to the lackluster
Direct Lending – a growing Asset Class Read More »
