Turkey witnessed a totally unexpected coup d’état attempt on 15 July 2016. Istanbul Ataturk Airport and the two bridges over the Bosphorus were taken over and blocked by a group of soldiers. Tanks, F16 jets and helicopters were all over the place in a matter of a few hours. State TV was occupied and a statement, which suggested that the military took control of the country, that hurdles to freedom would be removed, that a secular and democratic state would be established and that corruption would come to an end, was announced.
Emerging and frontier markets moved sideways during the start of the second quarter of 2016, slightly underperforming developed markets up until mid-May. When expectations of further FED hikes were revised down, it provided some relief to investors in risk assets, which then powered ahead of developed markets up until the end of the quarter.
GILTS - LOWER RETURNS MEAN HIGHER RISK
A strange thing happened in the UK bond market this week. It went down – a bit. It has been an incredible run from the early 1980s when the Gilt yield was almost 16% to a level of 0.71% last week. Of course it hasn’t been a straight line from high to low but if an investor had been disciplined enough to hold a 10 year Gilt and re-invest the coupons over those 34 years the annualised return would have been over 10% p.a. Who needs equities?
Just as it is obvious that the outcome of the Brexit referendum will have very substantial implications, it is equally unclear exactly how and when those implications will manifest themselves. This brief is an attempt to categorise and understand the political and economic implications for Europe and the world, written on the day after the Brexit vote.
Read more ...
Am frühen Morgen des 24. Junis stand es fest: Die Briten wollen die Europäische Union verlassen! Für Europa brach in diesem Moment mit hoher Wahrscheinlichkeit ein neues Zeitalter an und die erste Reaktion an den Börsen fiel dementsprechend drastisch aus: Der Pfund-Sterling/US-$-Wechselkurs fiel auf das niedrigste Niveau seit 1985 und der DAX eröffnete bei -11%.
BI SICAV Emerging Markets Corporate Debt - Investor Letter Q2 2016 and Outlook
Emerging Market corporate bonds delivered strong returns in second quarter. The Brexit referendum hardly affected the returns, as increasing spreads were offset by declining US Treasury bond yields.
BI SICAV New Emerging Markets Equities - Investor Letter Q2 2016 and Outlook
For our investors as well as the managers of this fund, the last quarter was quite satisfactory. The fund return of 7.6% was higher than Global equities (3.6%) and Emerging Markets equities (3.3%, both in EUR-return). The fund's outperformance of +3.8 percentage points (net of fees) relative to the benchmark was also encouraging.
Der Brexit ist kein Auslöser einer Krise in Europa, sondern deren Folge. Schon lange wächst das Unbehagen der Bürger gegenüber den europäischen Institutionen, werden die eurokritischen Bewegungen gestärkt.
Sometimes you wake up to a new day and it feels almost unreal. That was the feeling many of us had on Friday 24 June, the day after the British voted to leave the EU.
Im vergangenen Monat haben sowohl China als auch Indien betont, dass „grüne Investments“ eine wichtige Rolle bei der Bewältigung drängender Probleme wie Umweltschäden, einer Verringerung der Treibhausgasemissionen und im Kampf gegen den weltweiten Klimawandel spielen könnten.
Die Briten verlassen Europa! Entgegen der Vorhersagen der Buchmacher, vieler Wahlforscher und auch entgegen der Erwartungen des Kapitalmarktes haben sich ca. 52% der Briten gegen die weitere Mitgliedschaft in der Europäischen Union entschieden.
The MSCI Inc. annual review process outcome has just been released. At a glance, the announcement is positive for Pakistan, Argentina and Saudi Arabia, neutral for Peru and Korea, and potentially negative for Nigeria and China.
In europäischen Aktien sind wir aktuell gar nicht investiert. Einen Monat zuvor waren es immerhin noch 6% in Europa. Im Laufe des Mai haben wir unsere Europa-Position vollständig abgebaut", sagt Carsten Vennemann, Partner der Vermögensverwaltung, im Gespräch mit Citywire Deutschland.
Long Term Trends China Environmental protection, A new Growing market
SC Fonds STARS Multi-Faktor - ETF-Dachfonds-Pionier Markus Kaiser hat sich jetzt der Smart-Beta-ETFs angenommen. Aus rund 100 ETFs hat er einen trendfolgenden Smart-Beta-ETF-Dachfonds gestrickt
Nachfolgend finden Sie unsere Pressemitteilung zur Research-Studie „Langfristige Aktienmarktprognose: Das Shiller-CAPE auf dem Prüfstand“ von Norbert Keimling, Leiter Kapitalmarktforschung der StarCapital. Die wichtigsten Erkenntnisse:
The week of the 15th February was a critical one. As the level of stress in the market...
The financial market turbulences that accompanied the New Year reached a high
Der Vermögensverwalter und Fondsmanager Andreas Hauser von der Habbel, Pohlig und Partner - Vermögensverwaltung, nutzt den massiven Kurssturz an der griechischen Börse und erhöht seine Bestandsposition in der Hellenic Telecom.
Habbel, Pohlig & Partner überzeugt mit Aktien Südeuropa UI
Fonds erwirtschaftete mit Südeuropa in 2015 rund 18% Rendite
Aktien Südeuropa UI (DE000A1J9A74) im Februar 2016 drei Jahre am Markt
The last quarter of 2015 ended a year that we will remember with very mixed feelings. The frontier, emerging and developed market indices all declined; by 4%, 9% and 7% respectively in 2015. At the same time, it was also one of the best years ever for East Capital in terms of relative market performance across our public equity strategies. Seven out of eight of our investment funds outperformed their benchmark indices over the year.
The climate agreement reached at COP21 in Paris on 12 December 2015 underscores, once and for all, that climate change is a common issue that needs to be addressed in a strong and coordinated manner. A major diplomatic achievement, bridging the views of developed and developing nations, the agreement leaves no nation behind as it provides nearly 200 countries with a global roadmap for accelerating the vital transition to a low-carbon economy.
Two major things have happened over the past month; the 25 basis point US interest rate hike dominated the end of the year and the 1% depreciation of the Chinese yuan against the US dollar has been the focus during the beginning of the new year.
Das Vermögen der Kunden bewahren und in jeder Marktphase angemessen wachsen lassen: Das ist das Ziel der Vermögensverwaltung Habbel, Pohlig & Partner. Und dieses Credo gilt auch für die hauseigenen Fonds, wie den HP&P Euro Select oder den Aktienfonds Südeuropa
Die Security KAG, steirischer Nachhaltigkeitsspezialist aus dem GRAWE- Konzern, hat sich endgültig an der Spitze der ethisch-nachhaltigen Fondsanbieter etabliert. Das dritte Jahr in Folge rangiert die Security KAG unter den volumensstärksten drei Anbietern, hinter den Fondshäusern zweier Großbanken.
Yielding an average return of 1.61% p.a. in the 3-years period ending at 31 December 2015, BI SICAV - Emerging Markets Corporate Debt I is best in class in Europe according to a survey by Morningstar.
Active Fund Placement (AFP) is a leading third party marketer in Europe, currently with offices in Frankfurt, Germany and Linz, Austria. The company was founded in 2009. The experienced, highly qualified team of senior sales and sales support professionals offer best practise placement services for leading fund managers. We believe that experience leads to performance. Our focus is on UCITS fund solutions, managed accounts and customized mandates.
We offer significant market access and a transparent and professional sales approach. This includes not only our extensive investor network, but also a transparent comprehensive reporting. We are more than introducers, since we develop a customized sales approach internally and in co-operation with our product partners. We also offer the administration of platform services and organization of retrocession payments to our clients. We work with the Morningstar database and assist in positioning the investment expertise of our partners to attract valuable investors in the market place. The Active Fund Placement (AFP) business model is a combination of a fixed fee and a success fee for the amount of assets raised. You as a product partner pay a success fee in addition to any applicable retrocession payment; thus will reduce your net fees. We are success driven and a cost-effective alternative to internal customer relationship teams in the region. With AFP you can scale your business faster with less capital expenditures.
We offer investors access to managers entering the regional market with a strong track record and different levels of assets under management. The available investment expertise have clear USP’s and are taylored to complement potentially existing well-known regional competitors. We only engage in co-operations with product partners that canconvince us in our due diligence process of their quality and investment capabilities. For AFP exceptional investment management plays a more important role than the pure quantitative track record or any current rankings. Due to our extensive market reach on structured products (i.e UCITS funds), we also solicit customized managed mandates to investors. Please feel free to contact us if you are interested in new ideas or new opportunities for any given segment. We are happy to share our knowledge.