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Shenkman lifts out Brookfield European high-yield investment team
trueA three-person European high-yield bond investment team joined Shenkman Capital Management, said Nicholas Keyes, senior vice president and director of business development.
Inflation protection — better to be safe, not sorry
trueSometimes it takes a crisis to make us all realize that, yes, inflation can always be lurking just over the horizon.
Rerisking without regret
trueWith new actuarial tables threatening lower funding status, pension investors should consider reversing the course of de-risking embedded in their glide paths and increasing their allocation to return-seeking assets.
NYC Retirement Systems post 17.4% fiscal year return
trueNew York City Retirement Systems achieved an estimated return on investments of 17.4% for the fiscal year ended June 30, said a news release issued Monday by Comptroller Scott Stringer, adviser and custodian for the five pension funds that make up the retirement system.
Managers pessimistic on credit defaults, survey finds
trueCredit portfolio managers are more pessimistic about the outlook for credit defaults in the next 12 months but see stable credit spreads in North America and tighter spreads in Europe over the next three months
Greenwich Associates: Goldman Sachs leads U.S. fixed-income dealers in market share
trueGoldman Sachs holds the top spot among U.S. fixed-income dealers, according to a report from Greenwich Associates released Tuesday. Goldman had 12.1% of all market share based on institutional trading volume over the past 12 months, followed by Deutsche Bank (11.7%) and Citi (11.5%), according to ...
Poll results: How long after the Fed ends bond purchases will long-term rates rise?
trueAlmost half of P&I Online readers responding to last week's poll believe it will take several months for rates to rise after the Federal Reserve stops bond purchases, expected in October.
Emerging markets debt is attracting investors again
trueEmerging markets debt, pummeled during last year's “taper tantrum,” is now tempting institutional investors back into the fold.
Navigating the fixed-income market: The calm before the storm
trueThere are no safe harbors at present in fixed-income investing.
Texas pension fund executive discusses ins and outs of ETFs
trueNot long after Leighton Shantz joined the $26 billion Employees Retirement System of Texas, Austin, as director of fixed income in April 2012, his review of the nearly $6 billion bond portfolio called for a shift in strategy. Moving to a bifurcated mandate of “rates” and “credit,” however, would ...
Treasury asks dealers if it should sell bonds above 30 years
trueThe Treasury Department is asking bond dealers whether it should consider issuing a security with a maturity exceeding 30 years.
Louisiana Municipal Police Employees picks high yield, emerging markets debt finalists
trueLouisiana Municipal Police Employees Retirement System named finalists in its searches for a domestic high-yield fixed-income manager to run about $83 million and an active emerging markets debt manager to run about $52 million.
Cambridge urges longer duration for fixed-income portfolios
truePension funds that want to reduce risk in their portfolios should consider moving away from traditional core fixed-income strategies benchmarked to the Barclays Capital Aggregate Bond index, a paper from Cambridge Associates stated.
Eurozone still in recession
trueDuring the second half of the 1990s, the looming introduction of the euro led to a sharp drop in borrowing costs among the peripheral economies of the eurozone. That boosted their economies and the region’s overall economy. The Italian unemployment rate fell to 5.8% in 2007 from its 1998 peak of ...
Sarasota Police adds Garcia Hamilton to bond lineup
trueSarasota (Fla.) Police Officers' Pension Fund hired Garcia Hamilton & Associates to run an active domestic core fixed-income portfolio