Fixed income

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  1. Green shoots

    trueThe market for green bonds — proceeds of which are used for projects with perceived positive environmental benefits — tripled in 2014.

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  2. Secondary loan trading volume shatters previous record in 2014

    trueU.S. secondary loan trade volume was $628 billion in 2014, according to the Loan Syndications and Trading Association quarterly data released Wednesday.

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  3. New Hampshire Retirement System commits to 2 private debt funds

    trueNew Hampshire Retirement System, Concord, made two new private debt commitments totaling $90 million.

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  4. Hawaii Employees moving bond managers to new risk-based allocation

    trueHawaii Employees’ Retirement System, Honolulu, is in the process of transitioning its fixed-income managers to two of its four new risk-based categories.

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  5. Fitch: U.S. high-yield default rate ended 2014 at 2.4%

    trueThe default rate for U.S. high-yield issuers ended 2014 at 2.4%, up from 1.5% a year ago, according to Fitch Ratings. The firm noted that it was the fifth straight year the default rate was below its 35-year average of 4.1%.

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  6. FRR seeks corporate bond managers to run $9.6 billion

    trueFonds de Reserve pour les Retraites is searching for one or more managers to run a combined €8.5 billion ($9.6 billion) in euro- and U.S. dollar-denominated corporate bonds.

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  7. Alcentra hires head of Americas

    trueJack Yang was named head of the Americas at Alcentra, a BNY Mellon investment boutique that specializes in subinvestment-grade corporate credit.

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  8. Damage of low rates

    trueThe best thing that could be done for pension funds in 2015 is something they can't do themselves: increase interest rates.

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  9. Pension fund performance up on strong markets

    trueAnother strong year for equity markets, coupled with the year's comeback in bonds, propelled the investment returns for pension funds in seven major markets in 2014.

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  10. Harvest Global CEO: Chinese managers must use “window of opportunity” to set stage for long-term growth

    truePeng Wah Choy, the vice chairman and CEO of Hong Kong-based Harvest Global Investments Ltd., has high hopes that his parent company, Beijing-based Harvest Fund Management Co. Ltd., will emerge from the rapid ongoing opening of China’s capital markets as one of the local Chinese managers best ...

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  11. T. Rowe Price's head of fixed income joins Capital Group

    trueMichael Gitlin was named partner and head of fixed income at Capital Group, effective this spring.

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  12. Managers surprised by scope of ECB's bond-buying program

    trueThe European Central Bank announced it will begin €60 billion ($69.4 billion) of public and private debt purchases per month as part of a quantitative easing strategy, in what money managers said was a surprise move in terms of size and one that is expected to further weaken the euro and spark ...

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  13. Cat bond issuance up 13% in 2014

    trueCatastrophe bond issuance (non-life) totaled $8.1 billion last year, breaking the record set in 2007 when $7.2 billion in cat bonds were issued, according to data released Friday by Willis. The total in 2014 was 14.1% higher than the $7.1 billion of issuances in 2013.

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  14. Forecasting capital calls proves challenging for pension funds

    trueA CalPERS-sponsored study on treasury management finds that only 38% of pension funds responding said they are confident in their ability to accurately forecast cash needs for private investments beyond 30 days.

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