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trueOne of the most obvious outcomes of diverging monetary policy has been the depreciation of currencies in an effort to make markets more attractive. The euro vs. dollar was at 1.23 on Dec. 18, compared with 1.37 for the same date in 2013.
New concerns arise for asset owners, but an old one never left
trueAsset owners will have some relatively new worries in 2015 — geopolitical risk, oil-price declines and the impact of changes in mortality tables on funding — but there’s also a familiar concern revolving around interest rates.
Monetary policy divergence becoming unusually explicit
trueMonetary policy divergence — and the opportunities and downfalls it presents — is set to take center stage in conversations among global money managers in 2015, with expectations that divergence will accelerate.
Alpha opportunities seen from continuing volatility
trueHedge fund managers are confident that 2015 will — at last — bring the levels of volatility and dispersion they need to outperform equity markets and re-establish their reputation as alpha generators.
The SEC's "broken windows' strategy is misguided
trueThe Securities and Exchange Commission is unfortunately pursuing a fundamentally flawed strategy to police the capital markets and protect investors.
Institutional investment in Cuba 'could be years away' after U.S. restores relations
truePresident Barack Obama's announcement Wednesday that the U.S. and Cuba would restore diplomatic relations won't open up U.S. institutional investment in the Caribbean nation anytime soon.
Fed will be 'patient' in raising rates
trueFederal Open Market Committee members announced Wednesday they “can be patient in beginning to normalize the stance of monetary policy,” said a statement at the end of a two-day meeting.
BofA: Managers boost cash holdings, pull back U.S. equity, commodity holdings
trueMoney managers are increasing their cash holdings and reducing allocations to commodities, said Bank of America Merrill Lynch’s monthly fund manager survey.
Moody's: Large managers will benefit in 2015 from market conditions
trueThe largest money managers will benefit from benign market conditions in 2015, said an outlook report released Wednesday by Moody’s Investor Service.
eVestment: Equity strategies post first quarter of inflows in more than 2 years
trueInstitutional equity strategies experienced net inflows for the first time since the first quarter of 2012, eVestment’s quarterly report on global institutional asset flows shows.
OECD warns European Central bank needs stronger policies to avoid stagnation
trueThe European Central Bank must implement stronger policies if it is to avoid a prolonged period of stagnation, and to prevent unintended effects to other economies, warned the Organization for Economic Co-operation and Development.
Fed minutes show caution over foreign markets
trueSome members of the Federal Open Market Committee remain concerned about slower-than-expected economic growth in the coming months if foreign economies continue to struggle, said minutes from their late Oct. 28-29 meeting released Wednesday.
SEC to require backup operational plans for large-volume trading venues
trueThe SEC on Wednesday approved requiring large-volume equity exchanges, alternative trading systems and dark pools to submit to the agency backup operational plans in case those venues' technological systems break down.
Eurozone shows modest growth in quarter
trueThe eurozone economy grew 0.2% in the three months ended Sept. 30, with diverse contributions across member states as fiscal and structural reforms move at different rates.
18 banks sign ISDA rules to delay swaps termination rights
trueNew rules that will delay swaps termination rights and collateral demands were signed by 18 major banks, the International Swaps and Derivatives Association announced Wednesday.