This chart book presents representative marketable and hedge fund manager performance for fourth quarter 2015. The median US REIT manager again posted the highest median quarterly return, 7.7% for fourth quarter 2015. The lowest median returns for the quarter (-1.4%) were posted by the median High-Yield Bonds manager and the median Credit Opportunities manager.
Investors navigating the marketplace in 2015 faced numerous challenges, including US$ strength, commodity market stresses, and global growth concerns. To a large extent, asset class returns were either unexceptional or downright difficult. This brief chart book reviews returns and other metrics for the calendar year.
December’s publication summarizes two articles on interest rates. The first argues that the persistence of negative yields on several developed countries’ sovereign debt may encourage market instability, and the second suggests investors looking for more stable returns next year focus on US government bonds with long maturities versus short.
Despite seemingly high yields, today is not a particularly attractive time to buy emerging markets debt, whether hard currency or local currency.
Yields have indeed risen sharply over the past several months, but given the cyclical nature of the asset class, along with worrisome trends in issuance volume and quality, we still do not find them compelling.
This chart book presents representative marketable and hedge fund manager performance for third quarter 2015.
Investors should be wary of modifying their bond exposures solely based on what they think interest rates might do, and focus instead on bonds’ role in the portfolio and on mitigating risk/return asymmetry at current yields.
In this edition of C|A Answers, two members of our Capital Markets Research team provide different viewpoints on the Fed’s recent decision not to raise rates.
This chart book presents representative marketable and hedge fund manager performance for second quarter 2015.
Both the strengthening US dollar and decline in oil prices impacted markets in fiscal year 2015. The year also witnessed a number of reversals, namely strong performance in the second half of the year relative to the first. This brief chart book looks at returns and other market metrics for fiscal year 2015.