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

Spurs post brilliant Oscars-inspired film posters including Son in 60 Seconds

first_imgTOTTENHAM have released some fantastic Oscars-inspired film posters ahead of the 92nd Academy Awards.The North London club flooded their social media with some hilarious mock-ups of famous Hollywood film posters with a twist.8 Heung-min Son and Lucas Moura have had their names adapted into famous Hollywood films ahead of the OscarsThe names of the renowned blockbusters have been altered to include some of Spurs’ most recognisable stars.Superstar actors have had also had their faces replaced by shots of some of Tottenham’s current squad on the posters.Tottenham have been enjoying the Premier League’s new winter break ahead of their clash with Aston Villa next Sunday and the players will all have had a chuckle at the club’s banter.The Spurs social media team had a field day with a number of cracking film-based puns ahead of the 2020 Oscars ceremony taking place in Los Angeles tonight.One example included the 2000 film Gone in 60 Seconds starring Nicolas Cage which became “Son in 60 Seconds” in a nod to Spurs’ South Korean star Son Heung-min.SPURS NEWS LIVE: Follow all the latest news on TottenhamWhile the Adam Sandler classic Happy Gilmore was changed to “Happy Gilmoura” in honour of Brazilian winger Lucas Moura.Moura would have felt like a film star last season when he played the starring role in Spurs’ dramatic Champions League comeback.The former PSG man was Spurs’ superhero as he scored a hat-trick in the Champions League semi-final second leg against Ajax.Moura’s 95th minute winner sealed Tottenham’s place in the final after an improbable comeback from 3-0 down on aggregate at half-time.And it is not just Moura’s heroics on the pitch that make him fit to be a movie star as his rags to riches life story could easily be mistaken for a film script.The 27-year-old rose from poverty in Brazil to play for boyhood side Sao Paulo before excelling in Europe.MOST READ IN FOOTBALLTHROUGH ITRobbie Keane reveals Claudine’s father was ’50-50′ in coronavirus battleTOP SELLERGavin Whelan has gone from League of Ireland to David Beckham’s InstagramPicturedAN EYEFULMeet Playboy model and football agent Anamaria Prodan bidding to buy her own clubI SAW ROORodallega saw Rooney ‘drinking like madman’ & Gerrard ‘on bar dancing shirtless’ExclusiveRIYAD RAIDMan City’s Riyad Mahrez has three luxury watches stolen in £500,000 raidNEXT STEPJonny Hayes set to move to English Championship having been let go by CelticREF RELEASEDChampions League ref Vincic released by cops after arrest in prostitution raidKEANE DEALEx Man United youth ace David Jones says Roy Keane negotiated a contract for him8 Eric Dier replaces Bruce Willis as Die Hard 4.0 becomes “Dier Hard 4.0″8 Jan Vertonghen is “Super Jan” in this Super Man film posterEngland star Eric Dier is renowned for his no-nonsense tackling and he replaces legendary hardman Bruce Willis as Die Hard 4.0 becomes “Dier Hard 4.0” in another poster.Belgian defender Jan Vertonghen did not look great when he was hauled off against Southampton but perhaps his new role as “Super Jan” will raise his spirits.On a day where Storm Ciara caused a number of matches to be cancelled, Tottenham’s funny film posters will have helped put a smile back on the face of some football supporters.8 Reserve goalkeeper Michel Vorm replaces Jason Bourne8 Ryan Sessegnon becomes the star of 1998 Oscar winning film Saving Private Ryan8 Davinson Sanchez turns James Cameron’s Avatar into “Davatar”8 Juan Foyth stars in “Juan Flew Over the Cuckoo’s Nest”8 Erik Lamela finds himself on the poster of the 1991 horror film The Silence of the LambsHarry Kane shares training video and insists he is ‘making gains’ after injury in huge boost to Tottenham and Englandlast_img read more