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...Industry-level aggregate data from the Pension Protection Fund shows that UK defined benefit pension plans invested 10 per cent of their equity allocations into domestic listed companies in 2022, down from...
...The piece also contains this quite striking chart: More evidence of UK stock unpopularity comes from the monthly Bank of America global fund manager survey....
...Jackson, a BoE executive director, added in a speech that “very few firms carry out routine, bespoke and comprehensive stress testing for aggregate [private equity firm] related exposures”....
...Policymakers can fund debt relief, and can progress frameworks that would allow quick responses to failing banks....
...“We want to invest behind global brands that have the predictability and the durability and resiliency and the dynamics that are commonplace in North American sports assets,” he added....
...Over the past 20 years, their picks have now beaten 97 per cent of all US equity funds....
...The $2.7bn Global X Robotics & Artificial Intelligence ETF (BOTZ), the largest fund with AI in its name in the US, has pulled in $672mn since the start of 2023, according to data from VettaFi, a consultancy...
...At around the same time, FTSE Russell changed its recognition of Saudi equities, moving them into the FTSE Global All Cap index — a popular global equity index....
...Looking at their component parts in aggregate can enlighten us....
...The recent oil price increase is as much about geopolitics as firm global demand, gold’s rally is baffling analysts and industrial metals are being supported by recovering Chinese demand....
...From Morgan Stanley again: We wonder whether equities may be attributing too much weight to the aggregate pricing that the Fed Funds futures curve presents as opposed to thinking about the underlying set...
...Kirkbi, an investment vehicle run by Lego’s founding family, teamed up with private equity group Blackstone and Canadian pension fund CPPIB on the £6bn takeover....
...This depresses aggregate demand, because those savers are reluctant to spend the repaid funds on consumption. That feeds into an already depressed growth picture....
...These dynamics have also lifted hedge fund exposure to the Momentum factor to a near record....
...Five of the largest managers of private capital have announced new equity or debt private climate capital funds in recent months....
...Competitors such as Apollo Global, KKR, Carlyle Group and Brookfield have all designed similar funds for rich individual investors....
...Europe’s equity markets are at a record high but beneath the surface they are in crisis....
...To be fair to my ex-colleagues though, measuring their balanced funds against benchmarks comprising two passive indices (such as MSCI World for equities or Bloomberg Global Aggregate for bonds) is harsh....
...Since 1961, the ca 44 days a year where there has been major economic news account for over 71 per cent of aggregate equity market returns....
...“It’s been a bad year for equity flows, and particularly bad for US equity flows, and particularly bad for actively managed funds....
...The largest companies in my ETF are not the most dynamic in Japan, nor the cheapest. Overall, the fund has a price-to-earnings ratio of 15 times and a price to book of 1.4 times....
...So, to get the volume of investment in UK equities, the government needs the much larger pension fund industry on board, where investment into UK equities has fallen to about 6 per cent....
...with an aggregate overall figure for companies....
...By far the most popular active funds have been JEPI, with net inflows of $12.7bn, and its sister JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), with $5.4bn....
...Plain vanilla equity funds were the hardest hit with fees dropping from an average of 0.12 per cent to 0.113 per cent....
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