1462 briefings from 399 companies
Hermes Credit has welcomed the decision from Bank of America Merrill Lynch to retain emerging market issuers in BAML’s benchmark Global High Yield Index. Fraser Lundie and Mitch Reznick, co-heads of Hermes Credit, believe emerging markets play a fundamental role in global high yield investing.
Aided by a Windows XP refresh cycle and solid growth in smartphone sales in 2014, the technology sector outperformed the US High Yield index last year. Recent developments, however, make us more cautious, says Audra Stundziaite, Analyst for Hermes Credit.
In the last two bear markets, duration has provided a valuable source of downside protection. Now, falling yields and the rising correlation between equities and bonds should compel investors to seek alternative defences, says Fraser Lundie, Co-Head of Credit and Senior Portfolio Manager.
Following a strong rally in hard-currency Russian corporate debt throughout the second quarter, Mitch Reznick, Co-Head of Hermes Credit, visited Moscow to gain an insight into the nation’s economic troubles and assess whether the market is being too optimistic.
Alpha to trump beta in 2013: After four years where beta dominated, we believe alpha will make up a bigger slice of the (smaller) returns pie in 2013. Asset classes, regions and countries will be less correlated, in our view, with lower systemic risk and higher company-specific risk.
Published:08 April 2013
In this briefing, UAE specialists Habib Al Mulla explain how precautionary attachment differs to executive attachment, how it is governed under UAE Civil Procedures Law and how it is one of the best ways for a creditor to protect their rights and money within the UAE.
Company:Habib Al Mulla & Company
Published:28 November 2011