Press & Articles

EDF’s Energy Boost – Exceptional conditions in global energy markets are having a wide impact on consumers, businesses and the wider economy. Oil prices stand at multi-year high, but the surge in prices for electricity, and especially for gas, to histo …

Extension Risk – Additional Tier-1 Contingent Convertibles (AT1 CoCos)  Extension risk, or the risk of price declines in AT1s due to a re-pricing to perpetuity, remains very much in focus. The market tends to be inefficient and cyclical when assessing …

 During the month of September, spreads within our securities remained relatively stable to slightly weaker, despite concerns linked to tapering, higher interest rates, China’s Evergrande and higher energy prices. This low volatility once again demonst …

During the month of September, spreads within our securities remained relatively stable to slightly weaker, despite concerns linked to tapering, higher interest rates, China’s Evergrande and higher energy prices. This low volatility once again demonstr …

During the month of September, spreads within our securities remained relatively stable to slightly weaker, despite concerns linked to tapering, higher interest rates, China’s Evergrande and higher energy prices. This low volatility once again demonstr …

Extension risk has come at the forefront of the AT1 market in 2018 when the “extension risk tantrum” hit. The market came to the end of its iterative process of assessing the biggest risks in the market, ultimately realizing that extension is by far the biggest one.

Why green bonds from European banks are pivotal to the low carbon transition Despite their central role in causing the global financial crisis, exactly 13 years ago this week, banks remain at the centre of the European economy. They finance more than 9 …

Despite their central role in causing the global financial crisis, exactly 13 years ago this week, banks remain at the centre of the European economy. They finance more than 90% of European small and medium-sized enterprises (SMEs) and approximately 80 …

Monthly comment  During the month of August, spreads of the securities held within our portfolio remained relatively stable, despite concerns linked to the Delta variant of Covid-19, China policy changes, and the potential for tapering by the Federal R …

Q2 bank results – another positive quarter underpins a strong recovery Banks reported another strong quarter, with most issuers beating consensus estimates. Again, a key driver of the results was very low and even negative loan loss provisions – boosti …

During the month of August, spreads of the securities held within our portfolio remained relatively stable, despite concerns linked to the Delta variant of Covid-19, China policy changes, and the potential for tapering by the Federal Reserve. During th …

During the month of August, spreads of the securities held within our portfolio remained relatively stable, despite concerns linked to the Delta variant of Covid-19, China policy changes, and the potential for tapering by the Federal Reserve. During th …

When the top reinsurers trade at the tightest spreads in the European insurance space driven by high ratings and positive perception – this raises the question of the investment case of the sector.

Passive investing has a clear role for investors but in the realm of green bonds, it does raise serious questions though.

Passive investing has a clear role for investors but in the realm of green bonds, it does raise serious questions though.

The ECB decision to lift its ban on dividend payment is a positive catalyst for the Rabobank certificates, the top holding of our fund. On Friday July 30, the ECB announced its decision to remove the cap on dividend payments for European banks, startin …

Spreads of the securities held within our fund remained relatively stable in July, despite concerns linked to the Delta variant of Covid-19 and Asian equities. We continued capturing strong income from our holdings. This, combined with the fall in inte …

Spreads of the securities held within our fund remained relatively stable in July, despite concerns linked to the Delta variant of Covid-19 and Asian equities. We continued capturing strong income from our holdings. This, combined with the fall in inte …

Spreads of the securities held within our fund remained relatively stable in July, despite concerns linked to the Delta variant of Covid-19 and Asian equities. We continued capturing strong income from our holdings. This, combined with the fall in inte …

EBA Stress tests At the end of July, the EBA released the results of its 2021 stress tests. Banks performed very well with an end-point 10% CET1 ratio even after assuming circa EUR 300 billion of credit losses after an already tough 2020. Another posit …