Stuart Graham, Managing Director and Head of PIMCO Canada, joined Ungad Chadda, President, Capital Formation, Equity Capital Markets, TMX Group, to open the market to launch their initial suite of two Exchange Traded Funds (ETFs): PIMCO Monthly Income Fund (Canada) (PMIF); and PIMCO Investment Grade Credit Fund (Canada) (IGCF). PIMCO is a global investment management firm, with offices in 11 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a range of solutions to help millions of investors worldwide meet their needs. PMIF; IGCF and commenced trading on Toronto Stock Exchange on October 2, 2017.
Views: 375 TMX Group
Moderator Michael Milken Chairman, Milken Institute Speakers Ilfryn Carstairs Partner and Co-Chief Investment Officer, Värde Partners Sir Michael Hintze, AM, GCSG Founder, Chief Executive and Senior Investment Officer, CQS David Miller Global Head of Credit and Head of Global Credit Products, Credit Suisse Joseph Naggar Partner, GoldenTree Asset Management Jim Zelter Co-President, Apollo Global Management Over the past five years, a massive $600 billion has funneled into high-grade funds. In our annual look at the issues shaping global credit markets, industry leaders will assess the sustainability of this trend, given that higher bond yields gashed returns for U.S. and E.U. credit investors this year. What are some of the less obvious challenges facing this asset class? Will covenant light loans continue to dominate in 2018? Where are the bright spots? #MIGlobal http://www.milkeninstitute.org/events/conferences/global-conference/2018/
Views: 4114 Milken Institute
Active equity fund managers have lagged the S&P 500 for nine years in a row. But, one expert that manages $300 billion in bond assets says active management in the Treasury market tells a different story. "Active equity market-makers and portfolio managers have more of a challenge ahead of them. In fact, only about 25% of them end up overachieving their benchmark rates. But, on the bond side, it's actually much different: 80% or more, on average, actually outperform the benchmarks," Jerome Schneider, PIMCO managing director, told CNBC's "ETF Edge" on Monday. Pimco's actively-managed bond ETF has outpaced over the past three months with a gain of more than 2%; the TLT Treasury bond ETF and the AGG iShares Bond ETF are up around 1.5%. Over the past three years, the AGG ETF is down 2%, while the BOND ETF is down just 0.5%. "If you can look at a portfolio, understand the portfolio risks, find and highlight those risk attributes you like – not just interest rate, but create a diversified portfolio that includes credit risk, mortgage-backed opportunities, asset-backed securities, high-quality assets – you're able to generate additional income," he said. The BOND ETF holds 60% mortgages, 25% investment grade credit, 10% U.S. government bonds, and 4% high-yield credit. Schneider says the ETF is overweight "higher-quality assets that produce income," such as mortgages, while being underweight corporate credit. Schneider adds that the difference in active management in the bond market versus the stock market comes down to being able to exploit more inefficiencies. "As active managers, we're not simply trading to trade," he said. "You're trading to produce capital appreciation. So you're hoping to buy cheap bonds, selling them when the appreciation happens on the rich side." For example, in the fourth quarter when stocks plummeted and corporate credit repriced, Schneider says he added to positions. "At the same time, as those yields moved higher and they gradually moved lower as we entered January and February, that's a good opportunity to prune the risk, be selective and then take those gains," he said.
Views: 1 Stella Hamiltion
This video is one part of BondSavvy's 10-part video "The Crash Course on Corporate Bond Investing." The full Crash Course video is included with a subscription to BondSavvy https://www.bondsavvy.com/corporate-bond-investment-picks or can be bought on its own here https://www.bondsavvy.com/a-la-carte/corporate-bond-investing-101. This video explains the differences between interest rate risk and credit risk and how you can factor this into your next corporate bond investment. Many investors only invest in investment-grade bonds because they are afraid of the default risk of high-yield (or below investment grade) bonds. The challenge with this thinking is that investment-grade bonds often have longer durations (or time until maturity) and are therefore more sensitive to changes in interest rates. To alleviate these risks, it's important for investors to consider both investment-grade and non-investment-grade corporate bonds. You will learn the following by watching this video: * Difference between investment-grade corporate bonds and high-yield corporate bonds * Difference in default rates between investment-grade corporate bonds and high-yield corporate bonds * How bond prices are quoted * How owning high-yield corporate bonds can help reduce investors' interest rate risk * Why shorter-dated bonds are less sensitive to changes in interest rates * What happens to bond prices when interest rates increase?
Views: 472 BondSavvy
Fidelity's Bryan Collins - Head of Asian Fixed Income and Portfolio Manager - explains why Asia Pacific is the go-to destination for potential high income. Reflecting the tremendous economic growth in Asia over the past decade, the Asian bond markets have grown significantly and they're actually now bigger than the US and European bond markets. One primary driver of this growth has been the development of the onshore Chinese RMB bond market. For investors seeking stable income and potential capital returns, Asia is your go to destination because Asian bonds generally offer a slightly more attractive yield than their counterparts in US or Europe. RMB bonds whether they are onshore or offshore are generally quite high in credit quality with investment grade ratings and offer very attractive risk adjusted returns. However investing in Asian fixed income can be complex and each Asian country has its own local currency, fiscal and monetary policy and intricacies. The benefit of course of all of these is that this provides a wide range of potential return drivers and diversification benefits. And of course this is exactly what our Asia Pacific Strategic Income Fund is seeking to offer. The Fund is a flexible bond fund with a focus on providing an attractive level of income. It's also one of the first bond funds with an extensive investment universe that spans across traditional Asian US dollar denominated bond markets but also includes Dim Sum bonds, onshore RMB bonds as well as many other local currencies and rate markets across both the developed parts of Asia and the emerging market parts of Asia as well. Through the cycle by leveraging on our expertise in quantitative research, sovereign, corporate and financial credit analysis, we come up with a strategic and tactical allocation across all these markets to provide an all-weather high-income solution for investors. For more details on Fidelity's Asia Pacific Strategic Income Fund, please go to: https://www.fidelity.com.sg/investment/asian-fixed-income/asia-pacific-strategic-income/
Views: 185 Fidelity International
Nov. 14: Pimco paid its former CEO Bill Gross a bonus of about $290 million in 2013, a year in which his Total Return Fund trailed a majority of peers, according to documents provided to Bloomberg View by someone with knowledge of Pimco’s bonus policies. Bloomberg’s Bloomberg View Columnist Barry Ritholtz speaks on “Bloomberg Surveillance.” His opinions are his own. -- Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg "Bloomberg's Surveillance" is a radio and TV business news show, featuring in-depth interviews with well-known business leaders, market analysts and leading economists. The show is hosted by Tom Keene and Scarlet Fu and includes frequent insight and analysis from economics editor Mike McKee. "Bloomberg Surveillance" covers market news, breaking news, finance, investment, global economics, business leaders and influencers, as well as the headlines and companies impacting the day ahead on Wall Street. In addition to covering Wall Street, the show includes global economics, currency market moves, earnings news, mergers & acquisitions, and insights on the world leaders and influencers shaping these events, including: Federal Reserve chairman Ben Bernanke, JPMorgan CEO and chairman Jamie Dimon, Apple CEO Tim Cook, Yahoo! CEO Marissa Mayer, Goldman Sachs CEO Lloyd Blankfein, Goldman COO Gary Cohn, economist Nouriel Roubini, investor Marc Faber, IMF chief Christine Lagarde, world bank president Jim Yong Kim, Meredith Whitney, former Wall Street executive Sallie Krawcheck and more. "Surveillance" broadcasts from Bloomberg TV's New York headquarters. The show airs on TV at 6-8amET/3-5am PT and on radio 6-10amET/3-7am PT. For a complete compilation of Surveillance videos, visit: http://www.bloomberg.com/video/bloomberg-surveillance/ Watch "Surveillance" on TV, on the Bloomberg smartphone app, on the Bloomberg TV + iPad app or on the web: http://bloomberg.com/tv
Views: 1185 Bloomberg
As a credit manager, do you find yourself manually reviewing accounts, getting overwhelmed by requests and holds, and getting blindsided by unforeseen account risk? What if you could get a big-picture view of your accounts’ performance? Over time, credit risk can creep into a customer base, causing bad debt to pile up and consuming extra resources to follow-up with slow-paying or no-paying customers. At the same time, you might be leaving money on the table if your policy is too strict. Modern credit leaders are turning to portfolio management to manage their credit risk—and spot growth opportunities. Portfolio management is the proactive, strategic practice of managing and monitoring your existing customer account base to understand the impact of your credit policy - whether you have 500; 5,000; or 500,000 accounts. Portfolio management offers many benefits— strategic use of collections resources, streamlined engagement with sales, improved regulatory compliance and reporting, better understanding of corporate family exposure, and visibility into new accounts. This level of insight enables certain trends to emerge, providing opportunities to adjust your current credit and collections policies. There are several tools to make portfolio management both efficient and effective including predictive analytics, alerts, and dashboards. Predictive analytics help you spot future risks to prioritize reviewing potential high-risk customers, as well as those with additional spend capacity. Alerts proactively inform you of changes in your customer base that may affect risk levels. So you can know about critical changes before it’s too late. And dashboards allow you to segment customers by data elements such as business size, industry, or location to see the profile of your best customers. When you’re being asked to do more with less, portfolio management can help you get more time in your day to focus on the things that matter. Learn more about our Portfolio Management Products here: https://www.dnb.com/products/finance-credit-risk/dnb-credit-advantage.html
Views: 313 Dun & Bradstreet
Credit ratings are about relative credit strength. Bond spreads are about relative value. Many times, most times in fact, credit ratings and the credit markets line up with each other. But sometimes they don't and that can confuse market observers. Mexico is such a case. The credit default swap and the bond markets price Mexican credit risk as if the rating were at the higher side of investment grade. Yet today, we rate the Mexican sovereign at the lower end of investment grade. In this edition of Capital Markets Update, Standard & Poor's Senior Director Peter Rigby explains why the credit markets have priced Mexican credit risk since 2009 so differently than Standard & Poor's rating on the Mexican sovereign.
Views: 62 S&P Global Ratings
T-bonds are soaring while junk bonds plunge. That is a serious warning of money going to safety. Stock market investors beware. Our latest issue of the Wellington Letter, released Aug. 18, has some important charts. If you enjoyed the analysis in this video and would like to learn more about Bert Dohmen’s current outlook, click the link to download his latest FREE report on the various bubbles in the global markets right now. http://bit.ly/1erFp3p Subscribe To Bert Dohmen’s YouTube Channel: https://www.youtube.com/user/BertDohmen1?sub_confirmation=1 Sign up for Updates & Special Offers from Dohmen Capital: http://dohmencapital.com/sign-up-for-... Connect with us on LinkedIn: https://www.linkedin.com/in/BertDohmen Follow us on Twitter: https://twitter.com/BertDohmen Like us on Facebook: https://www.facebook.com/dohmencapital/ Auto generated Transcript by YouTube This is Bert Dohmen August 17th with making money hot stocks plunge or rags it's been an exciting weekend the growling bear is getting more ferocious 80s according to the signals that we look at and if you want more information just go to at the website dohmen capital.com and let’s take a look at the bond market right now and dirty bombs have absolutely sort years the ETF from Vanguard Vanguard extended duration this is long-term treasuries and your agency's big gain on trade a look at this story so that means that interest rates on long-term and instruments of the highest quality ice did the heels are declining and the prices are rising add this can only mean that there's a big flight to safety away from stocks away from at more am dangers investments and in to safety here we have another and chart that tends to confirm that junk bonds lot of people have been reaching for yield anything going into junk bonds say junk bonds at purchases at reach its record proportions but here you can see Anderson said the beginning of July and day bond market to 26th while ETF as absolutely prime should look at this waterfall decline called right into august 1st now since that time of course we at that natural rebound this always happens after severe plunge desist technical in nature this means that basically to bargain hunters are out but usually that is not a a good move to participate in we have seen now here's a sixty one point aid these data lines up several notches lines and we've seen it 61.8 percent rise or retracement of this decline accounting from the law close on August 1st so and 128 percent his in natural big shipman ashy resistance level this should be the end of this and move and now the high-grade bonds should start moving down again so all this confirms that there's a flight to safety a hears the testimony from a Valeria valued subscriber you can take a look at this what did people say we should sure these from time to time too so you have some confidence that we might know what we're doing with been doing this for almost thirty seven years now and when you've been around in the investment research business for that long you must be doing something right and check out our subscription services for investors and traders at Dohmen capital dot com and our news service hedge thank you very much for joining us and sure to go to our website dohmen capital dot com at Mill issuers are well insulator will come out on Monday and disses Monday the a of August and is said tremendous issue you world really see where we are now in a marketable we are probably going thank you very much wish you a wonderful evening this is Bert Dohmen signing off
Views: 372 Dohmen Capital
Ken Griffin became interested in Stock Market in Grade 6, at age 19, he started a hedge fund in dormitory of Harvard U. He found a mentor and investor Frank Meyer in 1989. In 1990, he founded Citadel Hedge Fund with $4.6M, In 2014, he was the highest paid Hedge Fund Manager in world, earning $1.3 Billion. He made largest donation to Harvard ever recorded
Views: 120 #SecretsSelfmadeBillionaires by Paul Chan
Former PIMCO strategist, portfolio manager, and Chief Economist Paul McCulley warned about the credit bubble years before it burst. What is he watching now? WEALTHTRACK #1540 broadcast on March 22, 2019.
Views: 25049 WealthTrack
Phillip Kibel, associate managing director at Moody’s Investors Service, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis. Kibel discussed the benefit some REITs are seeing by obtaining investment-grade credit ratings. Since the end of the financial crisis, “companies are realizing that an investment-grade credit profile is providing them with the opportunity to tap an unsecured debt market and to continue to unencumber their portfolios and make a commitment to earnings growth long term,” he said. Asked which economic indicators he will follow most closely in 2015, Kibel highlighted job growth and the macro-economic environment. Job growth in the U.S. remains frail, according to Kibel. Meanwhile, economic instability in Europe, China and the Middle East has the potential to impact equity and debt markets in the United States. Kibel also discussed whether REITs are at a point where they need to be more judicious in their use of leverage. “We haven’t seen it yet,” he noted. Leverage still appears to be stable, while some companies continue to de-lever because capitalization rates are attractive, according to Kibel. “The market is very good for them to cull their portfolio, so to some extent, some are still net sellers. They are using some of that cash flow to de-lever and pay off debts,” he said. Kibel noted that an increase in leverage could occur in the outlet center sector, where development pipelines are starting to grow. Yet, for the most part, companies are committed to a capital structure of 60 percent equity and 40 percent debt. By Sarah Borchersen-Keto
Views: 156 Nareit1
Shawna Millman, Vice President and Director, TD Asset Management, shares her analysis on the high yield bond market and the impact of rising rates.
Views: 1253 TD
Tactical credit strategies, such as the WHV/Acuity Tactical Credit Long/Short Fund, are becoming increasingly attractive for their potential to generate yield and reduce volatility in the latent fixed income universe. Unconstrained by any one asset class or style of investing, their dynamic nature allows them to move in and out of asset classes and capital structures to take advantage of the opportunity set that is offered by the market. Further, the ability to move long and/or short may offer additional advantages for credit, including the potential to insulate a portfolio in down markets.
Views: 126 WHV Investments
As the policy rate path grows more uncertain, investors should take a cautious approach but seek to take advantage of new opportunities. For more information, visit http://pimco.com Follow us for insights on economies, markets and investing: Twitter: https://twitter.com/pimco LinkedIn: http://www.linkedin.com/company/pimco Facebook: http://www.facebook.com/pimco Blog: http://blog.pimco.com Terms and conditions: pimco.com/socialmedia
Views: 449 PIMCO
When it comes to the high-yield bond market, Gundlach says we are all "summer insects" because it has only existed during a secular decline in interest rates. What will the default environment be like when companies have to roll over their debt loads at higher interest rates? --- The fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus, if available, contains this and other important information about the investment company, and it may be obtained by calling 1-800-960-0188, or visiting www.mastersfunds.com. Read it carefully before investing. Mutual fund investing involves risk. Principal loss is possible. Past performance does not guarantee future results. Diversification does not assure a profit nor protect against loss in a declining market. The Litman Gregory Masters Funds are distributed by ALPS Distributors, Inc.
Views: 3286 MastersFunds
Tony Crescenzi, Pimco executive vice president, and Sameer Samana, Wells Fargo Investment Institute global equity and technical strategist, discuss the current state of the markets as investors shrug off trade tensions.
Views: 468 CNBC Television
For the Artemis Monthly Distribution Fund, James Foster has been avoiding government bonds and focussing on high-yield bonds and financials. Jacob de Tusch-Lec discusses how the recent volatility has affected the funds equities.
Views: 41 ArtemisFundManagers
AVOID TIPS, TREASURIES; FOCUS ON SHORT-INTERMEDIATE INVESTMENT CORPORATES ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: Anthony do tips make sense at all at this point? ANTHONY VALERI, FIXED INCOME STRATEGIST AT LPL FINANCIAL (ENGLISH) SAYING: We're avoiding tips although they do provide some inflation compensation. What investors often forget is that why you do get half inflation protection with a tip the other half is a conventional treasury. Which is still very expensive and still holds interest rate risk. Also, a lot of the bundled products ETF and funds that invest in tips have an above average interest rate sensitivity. So, those are securities we avoid just to avoid the interest rate risk here. ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: Is there anything else that you are avoiding right now? ANTHONY VALERI, FIXED INCOME STRATEGIST AT LPL FINANCIAL (ENGLISH) SAYING: Well leave taken some with the EMD had a nice run, emerging market debt year to date. Reduced exposure there really is the highest quality segments as treasuries where we are avoiding. And focusing on short intermediate investment grade corporates again a lower rated as bank loans and high yield. Its those corporate securities that we think will benefit from an expanding economy is -- good credit quality metrics. So it's the most interest rates sensitive securities. Long term bonds are perfect example of what to avoid here. very expensive valuations of a lot of interest rate risk. ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: It's been a while since we've really talked about things like inflation and interest rates rising going forward. We know fed indicated that rates will start rising in 2015. When will the fixed income markets start pricing in those rate hikes because usually that happens well before the rates actually move higher. ANTHONY VALERI, FIXED INCOME STRATEGIST AT LPL FINANCIAL (ENGLISH) SAYING: Right you usually typically see that about three to six months before the Fed actually hikes interest rates so by that measure -- where you know ways away. What'...
Views: 73 Market Screener
Watch this video to hear a ground-breaking announcement from Gurtin Municipal Bond Management’s founding CEO, Bill Gurtin, and Emmanuel Roman, CEO of PIMCO! In the video, the two CEOs discuss the complementary nature of the upcoming partnership between Gurtin, a premier municipal bond management firm, and PIMCO, a premier fixed income manager—a partnership made possible by the strategic investment that PIMCO is making by acquiring Gurtin. The new PIMCO-Gurtin partnership is intended to enable PIMCO to grow their municipal bond capabilities and to deliver a broader suite of municipal bond investment solutions to their clients. Meanwhile, Gurtin’s specialized municipal investment team will now have access to the full breadth of PIMCO’s global resources, improved market access, and collaboration with the elite PIMCO team—all of which should only serve to enhance the superior client experience that Gurtin’s advisors and investors have come to expect. Learn more at www.gurtin.com, and subscribe to our YouTube channel to stay up to date on more breaking news! IMPORTANT DISCLOSURES Gurtin Fixed Income Management, LLC, dba Gurtin Municipal Bond Management, is registered with the SEC as an investment adviser. All content published or otherwise disseminated by Gurtin on any social media platform, including but not limited to Twitter, LinkedIn, Facebook, Google+, and YouTube (“Gurtin Social Media Platform”), is for informational and educational purposes only and should not be construed as investment, tax, financial, accounting or legal advice, or a recommendation to invest in any particular security, strategy or investment product. Investors should seek such professional advice for their particular circumstances. See more important related disclosures by visiting: https://www.gurtin.com/disclosures/.
Views: 939 Gurtin Municipal Bond Management
► Börse Frankfurt auf Youtube abonnieren: http://bit.ly/BoerseFrankfurtAbonnieren ► ► Kostenloser Newsletter, Webinare und Fachpublikationen zum Börsenhandel: http://www.boerse-frankfurt.de/ In Zeiten volatilen Handels und der EU-Schuldenkrise wünschen sich viele Anleger ein flexibles Depot. Diese Flexibilität bieten so genannte Wandelanleihen. Sie werden auch gerne mal als das Chamäleon an der Börse bezeichnet. Wir verraten Ihnen in der neuen Ausgabe von "Börse Frankfurt Bond TV" was sich hinter Wandelanleihen genau verbirgt... Während über Staatsanleihen viel berichtet wird, führen Wandelanleihen eher ein Nischendasein. Nur jede zehnte Unternehmensanleihe ist eine Wandelanleihe. Für Kleinanleger sind Wandelanleihen oft deshalb schwierig zu erwerben, "weil die Mindeststückelung oft sehr groß ist. Es geht dann oft gleich um 100.000 Euro", so Michael Prinz zu Salm-Salm von Salm-Salm & Partner. Er ist der Ansicht, dass es sich deshalb anbietet Fonds für die Anlage in Wandelanleihen zu nutzen. Ein großer Vorteil der Wandelanleihe ist ihre Flexibilität. Egal ob bei einer Deflation oder einer Inflation. Was man im Zusammenhang mit Wandelanleihen unter "asymmetrisch" und "Sensitivität" versteht, erfahren Sie hier bei "Bond TV". ► Wählen Sie aktiv Börse Frankfurt als Handelsplatz. Ihre Vorteile im Überblick: * Bester Preis * Hohe Geschwindigkeit * Jederzeitige Handelbarkeit * Sicherheit durch überwachten Handel ► Facebook: https://www.facebook.com/boersefrankfurt ► Twitter: https://twitter.com/boersefrankfurt ► Instagram: https://www.instagram.com/boersefrankfurt ► Börse Frankfurt Apps für iOS und Android: http://www.boerse-frankfurt.de/inhalt/apps
Views: 2852 Börse Frankfurt
PIMCO’s Global Economic Advisor and CIO Global Fixed Income discuss inflation, the risk of recession, oil, emerging markets and what keeps them up at night. For more information, visit http://pimco.com Follow us for insights on economies, markets and investing: Twitter: https://twitter.com/pimco LinkedIn: http://www.linkedin.com/company/pimco Facebook: http://www.facebook.com/pimco Blog: http://blog.pimco.com Terms and conditions: pimco.com/socialmedia
Views: 555 PIMCO
Christopher Wyke, Product Manager for Emerging Market Debt Fund, Commodity & Currency Funds at Schroder Investment Management, shares his views on what he thinks will be the best-performing fixed income class available now -- emerging markets debt.
Views: 201 FSMOne
SUBSCRIBE: http://jpm.com/x/i/NFPWfK0 Trish Devine, a managing director in Corporate Banking, help clients realize their objectives by leveraging different parts of the firm. About J.P. Morgan: J.P. Morgan is a leader in financial services, offering solutions to clients in more than 100 countries with one of the most comprehensive global product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years. Our business has been built upon our core principle of putting our clients' interests first. Connect with J.P. Morgan Online: Visit the J.P. Morgan Website: http://jpm.com/x/d/LPdzH4w Follow @jpmorgan on Twitter: http://jpm.com/x/i/NFPWLIB Visit our J.P. Morgan Facebook page: http://jpm.com/x/i/NFQoLBw Follow J.P. Morgan on LinkedIn: http://jpm.com/x/i/NFQoLGt #jpmorgan #jpmorgancareers Day in the Life of a Corporate Banker | J.P. Morgan
Views: 1269058 jpmorgan
June 24 (Bloomberg) -- Chris Osborne, chief executive officer of Troika Dialog USA, talks about growth in Russia and efforts to diversify the nation's economy. Osborne speaks on Bloomberg Television's "InBusiness With Margaret Brennan." (Source: Bloomberg)
Views: 128 Bloomberg
CNBC's Dom Chu takes a look at high-yield ETFs bouncing back after market turmoil. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC
Views: 348 CNBC Television
https://goo.gl/QPCkqk - Start earning with binary options like millions of traders do High-yield or junk bonds are those offered by issuers with credit ratings below investment grade. These bonds pay out higher returns or yields which is where they get their name. However, they also face a higher chance of default which is why they were originally referred to as junk bonds. The specific credit rating of issuers whose bonds are considered junk, is rated 'BB' or below with Standard&Poor's, and 'Ba' or below with Moody’s. High-yield ETFs are ETFs composed completely of non-investment grade securities like these. ETFs have also developed as a way for investors to minimize the risk such high-yield offerings inherently carry through diversification. This helps them avoid an all-or-nothing scenario that comes with investing all your capital in a single junk bond or merely a small basket of securities. According to C. Murphy (2016), the falling oil prices seen in 2015 caused non-investment grade bond ETFs to hit a multiyear low in response to fears that such price drops would lead to an increase in defaults. These trends have recently appeared to reverse course enough to legitimately allow investors to turn to high-yield bond ETFs as a viable investment tool once again. In the following, we provide a brief overview of some of the most important junk bond ETFs in the current market environment. The following four high yield bond ETFs (HYG, JNK, BKLN and SJNK) are the largest in the U.S. with regard to the total assets. HYG - The iShares iBoxx $ High Yield Corporate Bond The first major player to make a move in the high-yield bond market was HYG. According to ETF.com (2016), HYG, and JNK – a serious rival, has been among the largest and most liquid high-yield ETFs for years. It has a solid tracking on its core iBoxx index exposure, as it covers the junk bond market's most liquid parts of the U.S. high yield universe. The HYG ETF replicates the overall high-yield market’s performance. Compared to the competition of peer ETFs, HYG’s fees are slightly higher. It’s difficult to make any sort of direct cost analysis between HYG and its competition as HYGs index includes transaction costs while the industry standards others adhere to do not. No doubt, HYG holds an anchor position within the ETF junk bond market. As of the end of February 2016, the HYG US ETF has total assets of around 15,500 USD (mil). The inception date of this ETF was the 11th of April 2007, and its expense ratio is 0.50. (Bloomberg databases). A fund’s expense ratio is determined by dividing its annual operating expenses by the average value of the assets it manages. Any operating expenses incurred are deducted from the fund’s assets and thus from the return investors can expect. JNK - SPDR Barclays High Yield Bond According to ETF.com (2016), JNK is another widely popular, very liquid, high-yield bond fund. Its portfolio is and has been among the largest in the segment for years. JNK’s duration, yield, and credit risk al
Views: 32 ETFs
On November 30, 2018 Oliver Bäte (CEO), Giulio Terzariol (CFO) and further presenters gave an update on the Allianz Group strategy and targets. Presentation available on https://www.allianz.com/en_GB/investor_relations/conferences-presentations/capital-markets-day.html Please note the following disclaimers in English and German: https://www.allianz.com/en_GB/press/d... https://www.allianz.com/de_DE/presse/... Please SUBSCRIBE to Allianz on YouTube if you want to watch more videos like this or want to keep up to date with the latest content from F1, FC Bayern München, Lang Lang and other Allianz videos from around the world! (Just click SUBSCRIBE button on this page or visit http://www.youtube.com/subscription_c... Watch more video from these playlists: F1 Road Safety - https://www.youtube.com/watch?v=himIv... FC Bayern Munich - http://www.youtube.com/watch?v=k_PqVc... Paralympics - http://www.youtube.com/watch?v=SxooPB... One thing that matters - http://www.youtube.com/watch?v=o3vF2l... Allianz videos from around the world - http://www.youtube.com/user/allianz/v... Financial Information - https://www.youtube.com/playlist?list=PLhyiS8QYFhmm_0CnaqN6xsE8oCEz_hcqs Allianz Careers - http://www.youtube.com/playlist?list=... Follow us on Facebook: https://www.facebook.com/Allianz Follow us on Instagram at http://www.instagram.com/allianz About Allianz: The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group. Please visit http://www.allianz.com
Views: 2852 Allianz
While 2018 has been a mixed year for bond investors so far, with many indices posting negative returns, the US high yield market has – perhaps surprisingly – managed to navigate its way through the turbulence. The sector’s intrinsically shorter duration than its investment grade counterpart may explain part of the divergence, but this is only part of the story. Watch the latest episode of BVTV to find out what other factors have caused the performance of the two markets to decouple so far this year. Also – after a challenging first half of the year for the emerging markets, what do EM HY valuations look like today? https://www.bondvigilantes.com/?utm_source=youtube&utm_medium=video&utm_campaign=highyield
Views: 1919 Bond Vigilantes
The Carroll School of Management presents the 12th Annual Finance Conference: Success and Leadership in the Evolving Payments Ecosystem featuring Alfred F. Kelly, Jr., Chief Executive Officer, Visa and Marc Seidner ’88, CIO Non-traditional Strategies, PIMCO.
Views: 1123 Boston College Carroll School of Management
Nov. 14 (Bloomberg) -- Bob Pittman, chairman and chief executive officer at iHeartMedia, discusses singer Taylor Swift’s stand against Spotify and the economics of streaming music. He speaks on “Market Makers” from the Bloomberg The Year Ahead: 2015 summit in Washington. --Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg "Market Makers" brings you analysis, insight and A-list guests who influencing Wall Street and the global economy. The business news show is hosted by Erik Schatzker and Stephanie Ruhle and covers the biggest companies in finance and the leaders who run them. Companies of discussion range from bulge-bracket banks: Goldman Sachs, JPMorgan, Morgan Stanley, UBS, Credit Suisse and Bank of America to mid-size and boutique firms such as Jefferies, Piper Jaffray, Cowen and more. Whether the day's stories cover "too big to fail" Wall Street banks, billion dollar deals, the latest insider trading scheme, or the Street's reaction to Dodd-Frank, "Market Makers" taps leading analysis and A-list guests to shed light on global finance. Broadcasting live from Bloomberg's headquarters in New York, "Market Makers" breaks news and brings viewers exclusives with the likes of Goldman Sachs' CEO Lloyd Blankfein, Goldman Sachs COO Gary Cohn, Morgan Stanley CEO James Gorman, financier Ken Langone, billionaire investor Carl Icahn, hedge fund legends David Tepper and David Einhorn, pay czar Kenneth Feinberg, Credit Suisse CEO Brady Dougan and many, many more. The show airs daily at 10am ET/7am PT. For a complete compilation of Market Makers videos, visit: http://www.bloomberg.com/video/market-makers/ Watch "Market Makers" on TV, on the Bloomberg smartphone app, on the Bloomberg TV + iPad app or on the web: http://bloomberg.com/tv
Views: 20459 Bloomberg
Following the recent death of North Korean leader Kim Jong Il, Japanese markets closed downward due to succession uncertainties. However, Japan's investment-grade yield curves are gently sloping upwards, a signal that investors expect economic growth. In this Capital Markets Update, Senior Director Peter Rigby compares the Japanese yen and U.S. dollar corporate bond yields and how they factor into economic prospects. Topics include our credit expectations for Japanese and U.S. corporates and the challenges to GDP growth.
Views: 197 S&P Global Ratings
Panel discussion at 13th Annual Finance Conference hosted by the Boston College Carroll School of Management on June 7, 2018 at Boston College. Panelists: Kathleen Fisher, Head of Wealth and Investment Strategies, Bernstein Private Wealth Management Michael Tyler, Chief Investment Officer, Eastern Bank Wealth Management, Eastern Bank Marc Seidner ’88, CIO, Non-traditional Strategies, PIMCO Daniel E. Holland III ’79, P’07, ’08, Managing Director, Private Wealth Management, Goldman Sachs & Co. (Moderator)
Views: 149 Boston College Carroll School of Management
April 7 (Bloomberg) -- Bob Michele, chief investment officer of global fixed income and currency at J.P. Morgan Asset Management, talks about his investment strategy for bonds. Michele also discusses the possible impact of emerging-market inflation on bonds. He speaks with Lisa Murphy on Bloomberg Television's "Fast Forward." (Source: Bloomberg)
Views: 433 Bloomberg
https://goo.gl/QPCkqk - Start earning with binary options like millions of traders do As yields surge, investors have been flocking to exchange-traded funds (ETFs) providing exposure to short-term bonds. Recently, global bond markets have experienced a sell-off in the aftermath of Donald Trump's surprise victory in the Presidential election. Investors have also been watching inflation expectations closely, and Federal Reserve Bank of Boston President Eric Rosengren said November 15 that the central bank will probably hike benchmark rates in December, according to Dow Jones Business News. (For more, see also: Interest Rates And Your Bond Investments.) While market participants snap up ETFs based on short-term debt, Todd Rosenbluth, director of ETF and Mutual Fund Research at CFRA, wrote a note singling out some specific funds he thinks are worth exploring, according to Barron's. The SPDR Bloomberg Barclays Short-Term High Yield Bond ETF (SJNK) delivered a 5.6% yield at the time of report. Containing speculative-grade bonds, SJNK has a duration of 2.4 years. Investors seeking an ETF with more robust credit quality might consider the iShares Barclays 1-3 Year Treasury Bond Fund (SHY), which provides a 30-day SEC yield of 0.70% and has a duration of 1.9 years. SHY also benefits from high liquidity, as market participants trade more than 2 million shares of this fund every day with a bid/ask spread of a penny. PIMCO Enhanced Short Maturity Strategy Fund ETF (MINT) provide active management for investors looking to do more than simply track an index. MINT, which owns mostly investment-grade corporate bonds from both domestic and foreign businesses, offers a 30-day SEC yield of 1.2% and a duration of 0.26 years. Investors should keep in mind that if the U.S. economic recovery continues, the Federal Reserve will likely keep hiking benchmark interest rates, a development that could have implications for inflation, bond yields and bond prices. (For related reading, see: Will the Fed Raise Rates in 2016? (SPY, VTI).)
Views: 27 ETFs
An interview with a pioneer of high yield bonds and philanthropist, Michael Milken. In this interview, Michael discusses his early life and developing the high yield bond market at Drexel Burnham Lambert. Michael also talks about his philanthropic work and the American dream. 📚 Books about Michael Milken are located at the bottom of the description❗ Like if you enjoyed Subscribe for more:http://bit.ly/InvestorsArchive Follow us on twitter:http://bit.ly/TwitterIA Other great Stock Market Investor videos:⬇ Ray Dalio on Hedge funds, Success and Life/Work: http://bit.ly/RDVid1 Charlie Munger on Common sense and Investing:http://bit.ly/CMVid1 Video Segments: 0:00 Introduction 1:12 Giving pledge? 1:38 Met your wife in high school? 2:19 Grew up in L.A? 2:38 Were you a good student? 3:07 Why did you change from science? 4:36 Wharton? 4:46 High yield bonds? 6:29 New York? 7:33 Moving to L.A? 8:55 BREAK 9:25 California lifestyle? 9:57 Inventing high yield bonds? 12:36 Did you reject any successful companies? 13:36 Leaving Drexel? 15:25 Prostate cancer? 18:12 Financing health? 19:22 BREAK 19:37 Education? 20:41 Regrets? 21:55 What is the American dream? Michael Milken Books 🇺🇸📈 (affiliate link) The Predator’s Ball: http://bit.ly/PredatorsBall Den Of Thieves: http://bit.ly/DenOfThievesMM Interview Date: 21st October, 2018 Event: David Rubenstein Show Original Image Source:http://bit.ly/MMilkenPic Investors Archive has videos of all the Investing/Business/Economic/Finance masters. Learn from their wisdom for free in one place. For more check out the channel. Remember to subscribe, share, comment and like! No advertising. #InvestorsArchive
Views: 2831 Investors Archive
#moneymarketdebtinstruments #moneymarket #debtmarket GET REGULAR FREE VIDEO LECTURES AND OTHER VALUABLE INPUTS Click here to like our Facebook page :- https://www.facebook.com/CA-CS-Student-Support-581396102285175/ Follow this Link to join our TELEGRAM GROUP :- t.me/cacsstudentsupport09
Views: 90 CA CS Student Support
What is High Yield Bond? | Definition of High Yield Bond: In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade. These bonds have a higher risk of default or other adverse credit events, but typically pay higher yields than better quality bonds in order to make them attractive to investors. Sometimes the company can provide new bonds as a part of yield which can only be redeemed after its expiry or maturity. Risk: The holder of any debt is subject to interest rate risk and credit risk, inflationary risk, currency risk, duration risk, convexity risk, repayment of principal risk, streaming income risk, liquidity risk, default risk, maturity risk, reinvestment risk, market risk, political risk, and taxation adjustment risk. Interest rate risk refers to the risk of the market value of a bond changing due to changes in the structure or level of interest rates or credit spreads or risk premiums. The credit risk of a high-yield bond refers to the probability and probable loss upon a credit event (i.e., the obligor defaults on scheduled payments or files for bankruptcy, or the bond is restructured), or a credit quality change is issued by a rating agency including Fitch, Moody's, or Standard & Poors. A credit rating agency attempts to describe the risk with a credit rating such as AAA. In North America, the five major agencies are Standard & Poor's, Moody's, Fitch Ratings, Dominion Bond Rating Service and A.M. Best. Bonds in other countries may be rated by US rating agencies or by local credit rating agencies. Rating scales vary; the most popular scale uses (in order of increasing risk) ratings of AAA, AA, A, BBB, BB, B, CCC, CC, C, with the additional rating D for debt already in arrears. Government bonds and bonds issued by government-sponsored enterprises (GSEs) are often considered to be in a zero-risk category above AAA; and categories like AA and A may sometimes be split into finer subdivisions like "AA−" or "AA+". ………………………………………………………………………………….. Sources: Text: Text of this video has been taken from Wikipedia, which is available under the Creative Commons Attribution-ShareAlike License Background Music: Evgeny Teilor, https://www.jamendo.com/track/1176656/oceans The Lounge: http://www.bensound.com/royalty-free-music/jazz Images: www.pixabay.com www.openclipart.com
Views: 31 Free Audio Books
The advantage of active management in bond investing with two top performing mutual fund managers from Thornburg Investment Management. WEALTHTRACK #1349 broadcast on May 26, 2017.
Views: 3794 WealthTrack
Hey Folks, there is an old nursery rhyme that goes something like this; Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall; All the king's horses and all the king's men, couldn't put Humpty together again! Does this apply this this market? Or to the Tech Sector? Get my take in this week's Weekly Update. This week's Sound bites: • Trade & Interest Rates continue to dominate these markets…since the Mid Term Elections in the US markets have fallen about 4% taking another 1.3 Trillion of stock wealth out of the markets…price action halted its downward path on a speech by Powell on the fact he recognizes Global Growth is slowing and on Trump’s comments regarding moving closer to a possible trade deal with China…a Fed rate hike still seems in the works for this upcoming Fed Mtg on Dec 18th/19th of 25 bps but going into 2019 the odds have dropped on the Feds being able to play out 3 more hikes with 1 or 2 at best being the favored number.. • The current market Volatility does not seem to be too concerned regarding an upcoming meeting with Trump and Xi at the G20 Summit on Nov 30th…the bet is Trump will announce “progress” and suspend further tariff hikes (this past week he hinted as much)…the markets will respond very bullishly if this is the case…if not, we can expect a much colder Holiday season… • Thus far Corporate debt has been under control with the High Yield (Junk Bonds) maintaining tight spreads with Corporate Investment Grade Debt, but should this widen the turmoil could surface with the US Corporate Debt standing at over $9 Trillion… • Theresa May’s issues surfaced again this past week in her efforts to bring about a BREXIT divorce from the European Union…although towards the end of the week things seem to cool a bit the British Pound felt the pain falling to 1.28 to cap the week…the deadline for the U.K. to come to a deal and leave the E.U. is March 2019 so this will play out and get more volatile as we move closer to that date… • Oil has had a very tough time over the past month with it falling 26% and into a bear market and over 7.1% one day this past week…if you will recall. I had indicated going short Oil a month ago was the play and many of our members did extremely well…now with Oil finding consolidation around the upper 50s folks want to know where to next? Fundamentals vs Perception is where the battle lines are being drawn out…and keep in mind that Fundamentals ALWAYS win out over time…Perceptions are a stimulant to price action but not the cure…I will note that since 2000 there have been 14 times that Oil has fallen over 20% in 20 days and that prices have then risen on average by 1.9% in the following 20 days…The only except was in 2008 and 2014…however, NatGas has soared over 24% for the month on colder weather forecast a lower inventory levels…if the $4 NatGas price levels are sustained we could see this prompts some fuel switching among utilities bringing some coal fired plants back on line… • And finally there is the Chinese currency, the Yuan which we’ve seen falling to just slightly under 7 to the USD, a key level most international market funds feel are key to keeping China’s capital flight under control…China has hinted they will help control the Yuan to stay at or under this level but most analysts are not convinced…Should it fall lower, then investments in China will slow and this will in turn bring more pain to emerging markets… My Weekly Round-Up Monthly Membership $300.00 All Access including the Option Masters Education Series BONUS: "One Free Private Coaching Session with Hal Brent" ONLY $199 All Three this month Coupon Code: HAL199 "Click Here" https://www.traderusergroup.com/membership-options/monthly-membership-wbonus/
Views: 250 TraderUserGroup
Gurtin Municipal Bond Management (Gurtin), an asset manager specializing in high-grade municipal bond portfolios and funds for high net worth individuals, received Charles Schwab & Co., Inc.’s 2017 Pacesetter IMPACT Award™. Schwab Advisor Services recognized Gurtin for their unique specialization in municipal bonds, pioneering work in fundamental municipal credit research and socially responsible municipal investing, and strategic investment in proprietary technology. The firm, which works with a network of more than 100 wealth managers and independent advisors nationwide, received the award on the main stage at Schwab IMPACT®, the nation’s largest and longest-running annual gathering of independent advisors. About IMPACT Awards® The Charles Schwab & Co., Inc.’s IMPACT Awards® program recognizes excellence in the business of independent financial advice. A panel of prominent leaders from both the business world and the financial services industry evaluate and select nominees. For more information on the IMPACT Awards® program and criteria, visit http://impact.schwab.com/awards/. The Pacesetter IMPACT AwardTM is not based on Gurtin’s investment performance or any one or more client experience or opinion. Based upon the information provided by Charles Schwab & Co., Inc., to be eligible for consideration an investment adviser must use Charles Schwab, Charles Schwab Advisor Services™, or Charles Schwab Bank to custody client assets and must apply for the award. Advisors are selected based on an application process detailed on the link above, with Gurtin being awarded the sole Pacesetter Impact Award® for 2017. Neither Gurtin nor its employees paid a fee to Charles Schwab & Co., Inc. in exchange for consideration for the award but Gurtin and some of its employees do use Charles Schwab & Co., Inc. for investment services and custody client assets. Third party rankings and recognition are no guarantee of future investment success. Working with an advisor award recipient does not ensure that a client or prospective client will experience a higher level of performance or results. Awards and ratings should not be considered an endorsement of the advisor by any client or third party. By clicking on any of the links above, you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements, or representations whatsoever by us regarding third-party websites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products, or services available on or through them.
Views: 325 Gurtin Municipal Bond Management
May 28 (Bloomberg) -- Axel Merk, president and chief investment officer of Merk Investments LLC, talks with Bloomberg's Lori Rothman about Fitch Ratings' decision to cut Spain's AAA credit grade and the possibility of further downgrades in Europe. Fitch lowered the grade one step to AA+ as Spain struggles to cut debt amid a fiscal crisis that prompted the European Union to forge an almost $1 trillion bailout package. (Source: Bloomberg)
Views: 220 Bloomberg
Join the Allianz World Run 2018, a pure digital and truly global running competition promoting health, well-being and team spirit among all running enthusiasts worldwide. After two years of Allianz World Runs only accessible for the 140,000 Allianz employees around the globe, the World Run will go into its third edition and it’s now open to ALL. That means, everyone can join: you of course, your colleagues, your pen pals, board game group or your triathlon team. Your parents, nieces, neighbors, dogs or soulmates, you get the idea. For 90 days we will run on 5 continents. You can race, run, walk or hike, the main thing is to track your kilometers. Because every step will directly benefit an SOS Children’s Villages project, helping to create a better future for the explorers of tomorrow. Together, we can do amazing things. So let’s get going. Let's explore our neighborhood and the trail in the woods. Let's explore friendship, team spirit and the great feeling to master challenges. And let’s explore our hearts and our empathy. Because we believe: Explorers run the world. Please SUBSCRIBE to Allianz on YouTube if you want to watch more videos like this or want to keep up to date with the latest content from F1, FC Bayern München, Lang Lang and other Allianz videos from around the world! (Just click SUBSCRIBE button on this page or visit http://www.youtube.com/subscription_center?add_user=allianz) Watch more video from these playlists: F1 Road Safety - https://www.youtube.com/watch?v=himIvaTEtaU&list=PLDB527DD34A51440E FC Bayern Munich - http://www.youtube.com/watch?v=k_PqVcP2PMk&list=PL4D4846EF0F9F25FB Paralympics - http://www.youtube.com/watch?v=SxooPBhwsKc&list=PL7849488D35847E8E One thing that matters - http://www.youtube.com/watch?v=o3vF2lw5vzs&list=PLhyiS8QYFhmnrG0TG_S4GLNavCHDkQxR2 Allianz videos from around the world - http://www.youtube.com/user/allianz/videos?sort=dd&view=50&shelf_id=6 Allianz Careers - http://www.youtube.com/playlist?list=PLhyiS8QYFhmmOyVhM57ecB6CEbam5Ppyy Follow us on Facebook: https://www.facebook.com/Allianz Follow us on Instagram at http://www.instagram.com/allianz About Allianz: The Allianz Group serves 86 million retail and corporate customers in more than 70 countries, making it one of the world’s largest insurers and asset managers. In 2016, over 140,000 employees worldwide achieved total revenues of 122.4 billion euros and an operating profit of 10.8 billion euros. Allianz Group managed an investment portfolio of 653 billion euros. Additionally our asset managers AllianzGI and PIMCO managed over 1.3 trillion euros of third-party assets. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property and health insurance to assistance services to credit insurance and global business insurance. As an investor, Allianz is active in a variety of sectors including debt, equity, infrastructure, real estate and renewable energy. The Group’s long-term value strategies maximize risk-adjusted returns. Please visit http://www.allianz.com
Views: 789 Allianz
In Gurtin Municipal Bond Management’s 2018 Year-End Investor Update, our firm’s founder, head of Advisory Services, and co-head of Investment Research & Strategy share firm updates as well as their answers to the following questions: • How can asset managers or investors generate structural alpha from high-coupon callable bonds in the municipal bond market? • What does the taxable-equivalent spread of municipals relative to Treasuries at similar durations look like? • How does the performance of Gurtin’s Intermediate Value strategy compare to the firm’s Ladder – Intermediate strategy? • How did all of Gurtin’s strategies perform in 2018? • How did Gurtin’s Opportunistic Value perform relative to a long-duration index? • How did volatility in Opportunistic Value compare to that of an intermediate-duration index? • How did the Stability strategy perform compared to an intermediate-duration benchmark? • What was the amount of tax losses harvested in Gurtin strategies in 2018? • What was the estimated amount of federal and states taxes that the tax swaps offset for Gurtin clients? • How did different asset classes perform in 2018, a year which was characterized by market volatility, including a fourth-quarter market correction? • What is the correlation of high-grade municipal bonds to equities? • What was primary market issuance like in 2018? • What drove outflows in municipal bond funds and ETFs in late 2018? • What did Treasury yields do in 2018? • What did the AAA municipal MMD curve do in 2018? • What are professional forecasting expectations for the path of rates in 2019? • Did states experience an increase in tax revenues in 2018? • Why is ESG analysis crucial for all municipal bonds? • How might election results affect states’ credit quality? • What credit events is the Gurtin credit research team monitoring in 2019? To learn about our professional opinions regarding the topics above, including ways we believe we can generate sustainable structural alpha by exploiting inefficiencies in the municipal bond market, please watch this on-demand webinar or contact us today by calling 858-436-2200 or by emailing [email protected] See important related disclosures by visiting: https://www.gurtin.com/disclosures/.
Views: 81 Gurtin Municipal Bond Management
Part two of Consuelo's exclusive double interview with two of the investment world?s biggest stars! Bill Gross and Mohamed El-Erian, Co-Chief Investment Officers of money management powerhouse PIMCO, sit down together to discuss outlook and strategy.
Views: 5341 WealthTrack
Portfolio Manager Katie Glass explains what sets high-yield investing apart from core fixed-income investing, and which factors make an issuer more attractive. Views as of 10-4-2016. For disclosure, visit http://bit.ly/FederatedYouTube. For more information, visit http://www.federatedinvestors.com.
Views: 6656 FederatedInvestors
Pour chaque catégorie primée, nous présentons les 3 finalistes et le lauréat (surligné en gras). Actions France Grande Capitalisations Finalistes : Amundi ETF MSCI France (fonds indiciels), Banque Saint-Olive France, Cholet Dupont France Expertise Lauréat : CD France Expertise / FR0010249672 http://www.morningstar.fr/fr/funds/snapshot/snapshot.aspx?id=F0GBR04QZL Ce fonds est géré par la même équipe depuis 10 ans, et fait preuve d’une grande stabilité avec peu de mouvement dans le portefeuille pour les positions les plus importantes. Actions France Petites et Moyennes Capitalisations Finalistes : Moneta Micro Entreprises, deux fonds de la société Tiepolo, Tiepolo Rendement et Tiepolo PME Lauréat : Moneta Micro Entreprises / FR0000994980 http://www.morningstar.fr/fr/funds/snapshot/snapshot.aspx?id=F0GBR04HIJ Ce fonds a été lancé en 2003 et met en avant une stratégie d’investissement pragmatique, avec un portefeuille constitué de titres « value » et « croissance ». Ce fonds n’a pas échappé à la tempête boursière qui a fortement pénalisé les petites et moyennes valeurs l’an dernier, mais en baissant de 18%, il a fait mieux que la moyenne de catégorie qui a perdu 24%. Actions Europe Finalistes : MFS Meridian European Value, Odey European Focus, Ossiam iStoxx Europe Minimum Variance ETF Lauréat : Odey European Focus / IE00BWZMLC31 http://www.morningstar.fr/fr/funds/snapshot/snapshot.aspx?id=F00000W0YB Ce fonds est noté Bronze par la recherche Morningstar. La stratégie repose sur un portefeuille concentré de 15 à 20 titres avec une utilisation du cash quand le gérant ne trouve pas de titres suffisamment attrayants. Actions Internationales Finalistes : Comgest Growth World, JOHCM Global Opportunities, State Street Global Managed Volatility Equity Lauréat : Comgest Growth World / E00BJ625P22 http://www.morningstar.fr/fr/funds/snapshot/snapshot.aspx?id=F00000UI4D Ce fonds est axé sur les grandes valeurs internationales de croissance avec un biais qualité très marqué. Le portefeuille est concentré avec une trentaine de titres. Il a surperformé ses concurrents et son indice l’an dernier et affiche un excellent historique de performance sur longue période. Obligations Euro Finalistes : PIMCO GIS Euro Bond, BGF Euro Bond et BGF Euro Corporate Bond Lauréat : BGF Euro Corporate Bond / LU0162660350 http://www.morningstar.fr/fr/funds/snapshot/snapshot.aspx?id=F0GBR04EM2 Ce fonds est noté Silver par la recherche Morningstar. Il mise avant tout sur la diversification. Le portefeuille est investi dans une centaine d’émetteurs privés de notation « Investment Grade », combinant des paris en valeur relative et des paris plus directionnels. Ce fonds cherche à surperformer son indice dans toutes les configurations de marché. De fait il a surperformé le Bloomberg Barclays Euro Corporate sur 9 des 10 dernières années. Allocation Finalistes : BL Global 75 (Banque du Luxembourg), GlobalStar Growth (J. Safra Sarasin), Tikehau Income Cross Assets Lauréat : Tikehau Income Cross Assets / FR0011530948 http://www.morningstar.fr/fr/funds/snapshot/snapshot.aspx?id=F00000QB80 Ce fonds est géré avec une approche discrétionnaire. Il investi de manière flexible sur le crédit, les instruments monétaires et les actions (-50% à +110% des actifs). Il utilise aussi les produits dérivés à des fins de couverture. L’an dernier, ce fonds a été sous-exposé aux actions et a gardé la majeure partie de ses actifs en liquidités, ce qui lui a permis de mieux résister à la baisse des marchés que ses concurrents dans la catégorie Allocation flexible. Meilleure gamme actions Ce prix est attribué sur la base de la performance des fonds sur le long terme (5 ans), ajustée du risque. Cette mesure du risque donne davantage de poids à la volatilité à la baisse que celle à la hausse. Nous calculons un score de performance ajustée du risque pour tous les fonds gérés par une même société de gestion puis nous calculons une moyenne. Lauréat : Unigestion Cette société est spécialisée en gestion quantitative. Elle a été pionnière dans la mise en place de stratégies minimum variance et est restée fidèle à sa philosophie d’investissement. Meilleure gamme obligations Lauréat : T. Rowe Price Cette société se distingue par une gamme de grande qualité, en particulier dans l’univers high yield. Elle est également reconnue pour sa capacité à attirer et garder les talents dans ses équipes de gestion. Meilleure gamme de fonds toutes classes d’actifs Lauréat : First State Cette société se distingue par une bonne culture d’investissement, axée sur le long terme. Elle a développé une gamme obligataire avec un certain succès, qui explique en partie l’attribution de ce prix. Retrouvez l'ensemble de la présentation: https://www.morningstar.co.uk/static/UploadManager/Other/16_9_AwardsPresentation_2019_France.pdf
Views: 26 Morningstar France