A new report from GFIA highlights some asset manager successes: in the Japanese markets riding the wave of Abenomics; in India benefitting from the weakness of the rupee; and in the Arab world thriving against the backdrop of political turmoil.
The need for risk management in general and, more specifically, the inability of HNW Chinese otherwise to hedge against RMB exchange risk, is driving them to invest overseas.
The U.S. Supreme Court has agreed to hear an appeal from a 2d Circuit decision in the long-running litigation between hedge fund NML Capital and the Republic of Argentina. Specifically, it is set to address whether a judgment against Argentina opens the door to discovery of Argentina's assets around the world, commercial and non-commercial alike.
Despite the uncertainties generated by contemporary politics, Cerulli is convinced that "investing in alternatives such as property and infrastructure funds should remain a major theme in the Thai mutual fund space in 2014."
Guest columnist Shane Brett looks at the year ahead.
Guest columnist Sourabh Jeswani explains regulatory changes in India's real estate market and the opportunities these changes may offer.
The numbers of undead mutual funds in China has created a sharp disparity between the fund count and the AUM count. Since no one ever drops out, the fund count only goes up.
It is certainly true that a lot of foreign-denominated debt would worsen prospects for South Africa. But even in the absence of such a trap: can a nation boast of anti-fragility (or even, more aptly, of robustness) simply because it has the option of devaluation?
Even after the worst of the U.S. debt ceiling crisis passed, concerns about the Yen and unsatisfactory second-quarter performance numbers weighed the Nikkei down.
The QFII advisory business will for tricky for the smaller fund management companies, because the private firms with which they compete there "tend to boast better investment teams."
The average billionaire owns four homes. Though most billionaires are “still based” we’re told, “in the same locations where they were raised,” it must certainly be nice to have the three getaway locales.
A new report from Celent wonders why the mutual fund industry is growing so slowly in India, and why it is so over-represented in just five of the cities of the subcontinent.
Guest columnist Doug Friedenberg turns over a few rocks in Cyprus and finds that there might still be something left.
On August 28, President Cristina Fernandez of Argentina announced a new bond swap plan. Argentina will offer to swap its outstanding bonds, apparently either of the FAA or of the exchange bondholder vintage, with newly issued bonds that will not have the New York or U.S. law connections the older issuances did.
Shane Brett looks at the remainder of 2013
The BRICs as a group have been a disappointment to those who thought they were at a take-off point at the turn of the millennium. In the cycles of investment-market hype, BRICs have been replaced by CIVETS. PrevInvest offers words of caution.
France has filed a brief with the U.S. Supreme Court making the case that a Second Circuit decision in the matter of NML v. Argentina "is based on an erroneous understanding of the meaning of pari passu clauses...." Why this is important.
Asset managers within the Asian boutique universe keep telling GFIA that "asset raising is hard" in the present climate. It isn't going to become easy any time soon, but there is a new level of stability.
Allen & Overy’s white paper puts it among those who take a rather gloom-and-doom attitude toward the likely consequences of a recent Second Circuit decision on Argentina's default. Personally, I don't agree that the sky is falling on the sovereign debt market.
One of the Africa-oriented hedge funds showcased, Altree, expects that as the African market matures short opportunities will become available. Another, Nubuke Africa Multi-Strategy, makes a point of limiting its exposure to South Africa and Egypt (presumably the two most tempting countries of concentration) to no more than half its portfoilio, to ensure that its investments will remain pan-African.
As Guillermo Calvo noted in 1991, one of the problems with sterilization is simply that the larger amount of government debt itself induces higher inflationary expectations "because sticking to a stable price level ... would make servicing the public debt excessively costly from a social and political point of view."