Portfolio

Boring, expensive and reliable

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Bond yields have failed to rise in line with expectations. Taking a long-term view it’s not hard to see why. To get the sort of bond yields that many commentators think we should have requires global nominal growth to reverse its long-term trend and move significantly higher. Quantitative easing has… Read More »


Equities weighting increased to overweight

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Columbia Threadneedle has recently increased its equity rating to favour from neutral on the back of lower political risk and positive earnings developments. Since last summer we have had a neutral stance towards equities, though within that we have favoured Japan, Asia and Europe, and since March this year have been… Read More »


Calm in the Emerging Markets

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After years of capital flight, deteriorating economic policy conditions and high political risk, all is now relatively quiet in the emerging markets. President Trump’s protectionist ambitions seemed to throw a spanner in the works for a while, but this risk has largely disappeared as well. Since the beginning of the… Read More »


Political risk drives precious metal inflows

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Precious metals inflows (US$126mn) continue for a second week on rising political uncertainty Precious metals inflows (US$126mn) continue for a second week on rising political uncertainty. Gold (US$50mn) and Silver (US$73mn) ETPs had another strong week of inflows. The main catalyst has been the increasing political tension in the US,… Read More »


Bargain-hunting continues among ETP investors

Morgane Delledonne -

Silver prices are attractive relative to gold, both have seen inflows of US$130m Crude oil ETPs saw US$128mn inflows representing 7% of crude assets under management, as investors see buying opportunities in recent price weakness. US crude inventories sharply declined (5.2mn barrels) last week, resulting in a 3% rebound of… Read More »



New SPDR ETF Analysis Reveals Surge in ETF Sector Investments

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New analysis from State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), reveals there has been a five fold increase in global assets of sector exchange traded funds (ETFs) since 2008, reaching $394 billion in assets under management (AUM) at the end of 2016, with… Read More »



France and Europe narrowly survived populism

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The announced structural reforms and budget control would improve the long-term outlook for France. The ability of Macron to pass his reforms is contingent on the parliamentary election mid-June Macron’s victory diminishes eurouncertaintyMacron gathered 66% of the votes in the second round of the French presidential elections – three points… Read More »


Deutsche Asset Management’s UCITS ETFs and ETCs get new ‘Xtrackers’ branding as sales momentum increases

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Deutsche Asset Management (Deutsche AM) is harmonising its exchange-traded fund (ETF) and exchange-traded commodities (ETC) branding to ‘Xtrackers’ as the next step in pushing forward its growing Passive business. The current branding (db X-trackers ETFs and db-X ETCs) will be replaced with the single, unified Xtrackers to reflect Deutsche AM’s… Read More »