Telephone 01260 226 610
Mobile 07429 652 970
Email enquiries@laforum.co.uk

White Papers

White Papers

In-depth, expert analysis on the changing landscape of investments around the world. Leading asset managers reports uncover trends, highlight changes and consider future strategic impact.

Municipal market dynamics bode well going forward

The municipal bond market has proven resilient this year, despite the headwind of rising interest rates. This relative stability has been driven by favourable credit developments, attractive valuations and an improving technical backdrop. 

Company: Nuveen
Date added: 08-08-2018
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Newton Investment Management - Seeking a ‘glass half-full’ approach to bond investing

Bond investors have been focused on whether the Federal Reserve will raise rates. Paul Brain, leader of our fixed income team, considers the implications of an increase and identifies steps investors can take to try to manage risk and avoid being damaged by short-term volatility.

Company: Newton Investment Management
Date added: 19-01-2016
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Capital Group - High Income Bonds, Macro/Market views

Low inflation, a strong dollar, modest wage growth and other factors may lead the Fed to normalise rates slowly. In this paper, investment specialist Jim Hurlin discusses how investors who diversify away from their domestic bond portfolios and take a discrete approach to global bonds and currencies may benefit from more varied sources of income.

Company: Capital Group
Date added: 01-01-2016
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Capital Group - High income bonds: Q&A with portfolio manager David Daigle

A decline in energy and commodity prices and weakness across a broader selection of industries has led to a widening of spreads on corporate high-yield bonds. In this new Q&A, GHIO portfolio manager David Daigle shares his outlook on the corporate high-yield bond market, including his view on valuations and the potential impact of US interest rate rises.

Company: Capital Group
Date added: 01-01-2016
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Deutsche AM - The Fed: A good start to what could be a bumpy ride

 

 

 

The Fed has finally increased the range of the federal funds rate by 25 basis points, from 0.25 to 0.5%. The decision was unanimous. This is in line with our and the overall market expectations.

There were few surprises in the accompanying statement. According to the Fed, the labor market and the economy are in a reasonably good shape, and the risks are now "balanced", as opposed to "nearly balanced" in October.

Company: Deutsche AM
Date added: 17-12-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Deutsche AM - The Fed: Time for more excitement

 

 

 

There is now near unanimous agreement that the Fed will raise rates at the FOMC meeting ending on December 16 – federal funds futures imply a 74% probability. Anything else would surprise markets. Markets are on the edge already, due to a plunging oil price, downward pressure on the Chinese yuan, and troubles in the high-yield market. With the hike widely anticipated, low liquidity in many asset classes ahead of Christmas would further accentuate price movements. This is hardly what the Fed would possibly want.

Company: Deutsche AM
Date added: 14-12-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Deutsche AM - The new Draghi: what can be expected from the ECB?

 

 

 

The ECB did decide to extend the duration of its asset-purchase-program (APP) to at least March 2017, to reinvest proceeds and to include purchases of debt issued by regional and local governments. This last move will make any further increases in APP easier to implement, by mitigating any shortages in the debt issued by some countries, notably Germany. The ECB also cut its deposit rate from -0.2% to -0.3%.

Company: Deutsche AM
Date added: 07-12-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Legg Mason - Income optimiser fund, Manager Q&A

As bond yields race to zero, the Legg Mason Income Optimiser Fund continues to deliver its objective of relatively high levels of income and capital protection. This Q&A is based on a webcast that took place on 20 April 2015 in which Regina Borromeo outlines the opportunities and risks in global bond markets.

Company: Legg Mason
Date added: 01-12-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Legg Mason - Macro opportunities bond fund, Manager Q&A

Joe Filicetti believes global pressures are dampening the outlook for inflation. This Q&A is based on a webcast that took place on 18 February 2015, in which Joe considered the implications for Fed policy and highlighted recent changes to the portfolio.

Company: Legg Mason
Date added: 01-12-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Deutsche AM - Bond-market turmoil – specific or systemic risks?

 

 

 

Increasing investor risk aversion has become even more evident in late September. While equities started their pronounced correction back in August, high-yield (HY) bonds, and a couple of investment-grade (IG) bonds took deeper dives in September. Higher risk assets are the main targets for sell-offs. The volatility measures for both the S&P 500 Index as well as the Euro Stoxx 50 Index remain at elevated levels.

Company: Deutsche AM
Date added: 02-10-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

ICG - Investing in Europes CLOs

In the heady days before the financial crisis, Europe’s collateralised loan obligation (CLO) market was thriving, with at least 60 active CLO managers issuing funds. While smaller than its US stable-mate, the European CLO market entered the downturn with around Û130bn of funds outstanding, virtually all of which financed European leveraged loans in corporate buyouts. Banks, insurance companies, pension and other funds globally were investing into European leveraged loans through CLOs and it seemed that the asset class had come of age.

Company: ICG
Date added: 01-01-2015
Sector: Developed Market Sovereign Bonds

>> DOWNLOAD WHITE PAPER

Sectors

Company