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...And DS Smith isn’t alone....
...Robert Smith is an FT capital markets correspondent Follow @FTMag to find out about our latest stories first...
...Holdings of UK-listed companies by British pension and insurance funds have plunged from about half of their portfolios to 4 per cent over the past two decades, according to data from Ondra....
...“It is, to me, a glaring market mispricing,” said Rebecca Patterson, head of investment strategy at Bridgewater Associates....
...Summer events and outdoor receptions continue to drive the market recovery, it said....
...Bridgewater Associates and Renaissance Technologies, both considered among the best hedge funds in the world, suffered steep losses....
...Associates from the time remember him as a fun boss who led a tight-knit group of employees....
...His title was associate, one of the lowest ranks in banking, but his colleagues gave him the unofficial status of “managing associate”, one former banker recalls, after noticing that he often provided answers...
...Andrew Smith: At the moment, it’s out of their hands....
...He added that the trading suggested asset managers believed there could be “a temporary surge in inflation and thus they are shortening the duration of their Treasury portfolios.”...
...India, which passed 5m cases, will buy 100m doses of Russia’s Sputnik-V vaccine candidate. Eli Lilly’s antibody treatment reduced hospitalisations....
...Law firm Reed Smith has hired Christopher Jackson and Adam Longney as partners in its London aviation group. Both join from REN Legal....
...The biggest fiscal question in 2021 will be when and how the furlough scheme is unwound, with jobs at stake “if wage subsidies are prematurely withdrawn” noted James Smith at ING....
...If the economic trajectory does indeed look more like an “L” than a “V” or “U”, portfolios will need to combine recovery stocks with cash and lower-risk bonds as well....
...James Smith, economist at ING: A full 2021 recovery is unlikely....
...He is also encouraged by a “V-shaped” recovery in Asia, its largest market, and less dire forecasts for UK consumers....
...Europe continued to perform well with pleasing recovery in S Europe & E Europe since May. In N....
...The investment stimulus will come on top of what is expected to be a sharp economic recovery as the UK emerges from the pandemic, probably sooner than other developed economies....
...Smith & Nephew goes up to “overweight” at Morgan Stanley. A V-shaped recovery in kneecaps isn’t in the price, they say....
...those factors,” says Peter Brunt, associate director of manager research at Morningstar....
...While I would not advocate for helicopter money in normal circumstances, we need to use every tool to ensure this is a ‘V’ shaped recovery — and helicopter money could be an effective tool....
...“We are convinced that ‘liquid markets’ are not necessarily liquid,” Robert Koenigsberger, chief investment officer, wrote in a letter with senior adviser Mohamed El-Erian and two other associates of the...
...A mixed asset approach can allow other holdings to be sold to provide capital to live on, says Smith at Sandaire....
...“Value managers have faced a perfect storm,” says Samuel Meakin, associate director for equity strategies at Morningstar....
...We also think that the muted recovery in June (sales still -90% YoY) may disappoint, given SSP’s diversified global portfolio....
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