German institutional investors have faith in emerging markets

first_imgFixed income remained the dominant asset class in the portfolios of the surveyed institutions. While most investors manage such assets in house, Scope reported that outsourcing had increased as investors had diversified.“Investors are increasingly shifting towards other segments – not just emerging markets but markets such as convertibles too,” the ratings agency said in its analysis. “The expertise required to operate in these sectors is usually provided by external managers.”Scope also asked which asset managers investors would trust most with emerging market fixed-income and the ranking showedGAM, Lazard and HSBC GAM were ranked by investors as the most popular emerging market fixed income managers. For corporate bonds investors rated Fisch Asset Management, Union Investment and JPMAM.Currently only 3% of the investors’ fixed income exposure was in high yield bonds, Scope reported. This is unlikely to change as regulatory frameworks for insurers and banks in Germany are generally risk averse, requiring a high exposure to high-quality fixed income assets.Trends in equities and altsScope also reported that three-quarters of investors had a positive outlook for emerging market equities.Faith in European equities was almost as strong, with 71% having a positive outlook. US equities and Japanese stock markets were viewed more cautiously.JPMAM, UBS Global Asset Management and HSBC GAM were highly rated by investors for their emerging market equity offerings. For European stocks investors preferred Union, Deka and Deutsche Asset & Wealth Management.Pension funds were the leading allocators to equities, Scope reported, with an overall exposure to the asset class of 14%. By comparison, insurers allocated 3% and banks even less.Scope also said there were “significant differences between investor groups” when it came to asset allocation in alternatives or real estate.Pension funds led the pack on allocating to alternative asset classes with a 6% exposure, while other institutions held less than 3%.In real estate, pension funds increased their exposure to 11% while banks still stood at 5%, Scope said. German institutional investors are turning to emerging markets and backing third-party asset managers to increase their exposures, according to ratings agency Scope.Groups such as HSBC Global Asset Management (HSBC GAM), JP Morgan Asset Management (JPMAM), GAM and Lazard were named by Scope among the most popular managers as investors sought to diversify into emerging markets.The group surveyed 106 German institutions managing €535bn, 23 of which were pension fund providers. It found that 41% of investors thought the outlook for emerging market investment grade debt was “very good or good” over the next three years.In high-yield bonds in emerging markets, more than 28% had a positive outlook. This compared to just 10.5% of investors with a positive outlook for US debt, and 5.2% with a positive outlook for European fixed income.last_img read more

Ulivieri: ‘Juve new manager  Pirlo knows more than most coaches’

first_img Pirlo was taught by Ulivieri and the teacher was very impressed with his student. “He’s very focused, smart, can analyse possible instruments looking to the future of football. Pirlo is someone who looks forward. He was always there, taking notes. read also:Ronaldo reacts to Sarri’s sack by Juventus “Pirlo was a great player who knows football, so he’s versatile and will adapt the system to the characteristics of his players. Is it a gamble? Andrea Agnelli thought about this carefully. “I won’t say whether it was a wise move to sack Sarri, because it is always sad when one of our own is dismissed. At the same time, I am happy to see more of our young coaches take flight with jobs after leaving our classes.” FacebookTwitterWhatsAppEmail分享 Andrea Pirlo was appointed head coach at Juventus in his first managerial job, but Renzo Ulivieri reveals he ‘knows more about the game than most coaches who have been working for years.’ The decision to fire Maurizio Sarri was not entirely surprising, but Pirlo was promoted from the Under-23 job to the main bench without overseeing a single game. “Pirlo doesn’t actually have his coaching badges yet, but he’s got permission because he was at the most recent course. He’ll hand in his final thesis in October and then he’ll be a coach,” President of the Italian Coaches’ Association Ulivieri told “I can confidently say that Pirlo is currently one of the deepest thinkers in world football. He knows more about the game than most coaches who have been working for years. He’s studious, he really looked into the subject and he is ready.” Before being allowed to work as a coach in Italy, you must go through a course at the Coverciano training ground, complete with exams and final thesis.Advertisement Promoted Content10 Phones That Can Work For Weeks Without Recharging11 Most Immersive Game To Play On Your Table TopBest & Worst Celebrity Endorsed Games Ever MadeCouples Who Celebrated Their Union In A Unique, Unforgettable WayWho Is The Most Powerful Woman On Earth?7 Non-Obvious Things That Damage Your PhoneEverything You Need To Know About Asteroid ArmageddonYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime7 Things That Actually Ruin Your PhoneThe Highest Paid Football Players In The WorldLaugh, Cry, Or Just Relax With The Best Series Streaming On HBO7 Ways To Understand Your Girlfriend Bettercenter_img Loading… last_img read more

Regional Four-day championship

first_imgRed Force, Jaguars face off in top-of-the-table clash todayBRIDGETOWN, Barbados (CMC) – The top-of-the-table clash between Guyana Jaguars and hosts Trinidad and Tobago Red Force will highlight the fourth round of the Regional Four-Day Championship which bowls off today.Denesh RamdinBoth teams are unbeaten so far and the day/night clash at the Brian Lara Stadium could prove decisive ahead of the first break of the fast-moving, 10-round season.Three-time champions Jaguars have won two of their first three matches to be top of the standings on 46.6 points, but faltered in their last outing against Leeward Islands Hurricanes and needed a massive effort on the final day at Warner Park to avoid defeat.Their key men have been West Indies-A left-hander Vishaul Singh who has gathered 258 runs at an average of 46, and left-arm spinner Veerasammy Permaul whose 17 wickets have come at 15 runs apiece.However, their captain Leon Johnson’s lack of form has been worrying, with the left-hander managing only 124 runs from his six trips to the crease.His opposite number Denesh Ramdin has had no such worries with two hundreds already in an aggregate of 316 runs at an impressive average of 105.Red Force have been lifted by his form which has seemingly inspired the other batsmen, with Jason Mohammed, Tion Webster and Yannic Cariah all having scored hundreds so far.Leg-spinner Imran Khan, who tops the bowling aggregates with 18 wickets, will also be key as Red Force attempt to inflict Jaguars with a first defeat.Hurricanes, the only other unbeaten side in the tournament, will host Jamaica Scorpions at Warner Park and will be hoping to continue the form which has put them third in the table.Both their batting and bowling have clicked so far this season leaving them as formidable threats, and Scorpions will have their work cut out for them.While the hosts are unchanged for the encounter, Scorpions have been strengthened by the return of regular captain Nikita Miller, who missed the first three rounds recuperating from surgery last September.The leading wicket-taker last season with 58 scalps with 461 wickets from 90 first-class matches, Hurricanes will be wary of his ability to be a game-changer.In the other game at Arnos Vale, bottom-placed Windward Islands Volcanoes welcome Barbados Pride who have struggled and lie fourth in the standings.While Volcanoes have lost two of three, the big highlight for them has been veteran left-hander Devon Smith who has already reeled off two hundreds to top the batting charts with 337 runs at an average of 84.Volcanoes, who boast two Barbadians in Kyle Mayers and Kirk Edwards, are unchanged but Pride have gone for former Young West Indies speedster, Keon Harding, to give their bowling attack teeth.last_img read more