Marcio Machado

Why do we believe that income-focused investors can benefit from exposure to the fast-growing Asset-Based Finance (ABF) sector? Check out the video below for KKR’s view on the attractive features of this asset class, and learn more about our differentiated approach to ABF investing here: https://go.kkr.com/3Uofrog

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Selecting a pricing vendor for your fixed-income instruments can be complex. Market coverage, alignment and consistency can vary widely across the industry. Understanding which vendors provide accurate pricing enhances the decision-making process across multiple asset classes, ensuring that holdings are valued fairly. We analyzed transaction data from 240,000 trades across 34 product types by comparing end-of-day prices from eight pricing vendors. Read Hama Hammond's blog about what we found and download the study for a more detailed analysis: https://ow.ly/2tvB30sI1GL

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Join June Lui, lead Portfolio Manager of Polen Capital's China Growth strategy, and me in the third instalment of our video series. We previously discussed WHY we think it’s an opportune time to invest in China, and WHO the team is at Polen Capital managing Chinese equities strategies. Now it’s time for the HOW. During June's visit, she went through her team’s approach to investing in Chinese equities, which I try to summarize below, though only experience and expertise can truly help you navigate a complex market shaped by numerous domestic and geographical factors. 𝐅𝐨𝐜𝐮𝐬𝐞𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐏𝐡𝐢𝐥𝐨𝐬𝐨𝐩𝐡𝐲: June emphasizes her view regarding the importance of long-term structural opportunities in the Chinese market. By prioritizing a deep fundamental analysis, her team seeks to identify companies with robust business models and management, to invest based on quality and not just market trends. This selective approach helps them navigate through the vast variety of sectors seeking to capitalize on attractive opportunities. 𝐁𝐞𝐲𝐨𝐧𝐝 𝐁𝐞𝐧𝐜𝐡𝐦𝐚𝐫𝐤𝐬: Unlike traditional investment strategies that closely follow benchmarks, June explains how Polen Capital's approach is to operate with a concentrated portfolio that is not tied down by the typical state-owned entities that dominate standard China-based benchmarks. This independence from benchmarks allows them to explore sectors and companies that can offer the potential for growth and returns. 𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐑𝐢𝐬𝐤𝐬: A highlight of the discussion is how June's team successfully avoided the pitfalls in the education sector, which faced significant government regulation in recent years. By integrating regulatory risk analysis into their investment process early on, they were able to recognize and sidestep sectors prone to negative governmental intervention, showcasing their proactive and strategic planning. Watch the full interview to gain deeper insights into Polen Capital's disciplined approach to Chinese equities and learn how their strategic methodology could lead to quality investment outcomes. To learn more about our Partner Polen Capital's investment philosophy, please visit: https://lnkd.in/eUaVK-_4  #AssetManagement #InvestManagement #Markets #China #Strategy #Equities #PeoplePerformance

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The secular backdrop for the next five years invites advisers to reverse the typical 60/40 per cent equity and bond asset allocations in portfolios, according to PIMCO fixed income experts. https://lnkd.in/erbU6C74

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The miracle of managed accounts! Clients of Activam Group actually DID get these performance outcomes on BT Panorama, because their portfolios rebalance promptly and consistently across all accounts. Meantime their advisers could focus on strategic advice and client engagement, where they most add value. "Execution alpha" is real and quantifiable. #BTPanorama #ManagedAccounts

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Inviting excess default risk by casting a wide net to capitalise on elevated yields? Read this recent interview with Ryan Kelly, PGIM Fixed Income’s Head of Special Situations, to learn how an active manager specialising in creative capital solutions can avoid potential pitfalls and accentuate opportunities while navigating complex credit market conditions. https://on.pru/3KjlNzj

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Gyrostat Risk Management Hong Kong Equity Class D Strategy: Designed to outperform the Morningstar® Hong Kong Index over rolling 12 months whilst mitigating against major losses on large Hong Kong market falls (downside protection always in place). The strategy could be described as Risk Managed Hong Kong Fund, holding Tracker Fund of Hong Kong with a risk management overlay.  Returns to 31st October 2024 Outperformance Vs Morningstar Hong Kong Index (benchmark) 1M + 8.55%    3 M + 11.81%    1 Yr + 16.35% pa  2 Yr + 10.79% pa Inception (1 Jul 2022) + 13.85% pa  #HongKongStocks #alpha https://lnkd.in/gmDNMKSJ

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Q1 Credit Risk Monitor – Goldilocks and the three bulls? Spreads tightened and strong investor appetite supported credit issuance as investors focused more on the benign implications for credit of upside surprises to macro data than to diminished expectations of interest rate cuts. We foresee the possibility of further spread tightening but accompanied by rates volatility if strong US growth causes supply-led disinflation to evolve into demand-led inflation. At this point in the cycle, we expect greater return dispersion within sectors. Issuer selection will be even more critical at this juncture. James Cielinski

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Many of the major central banks (excluding Japan) are beginning or set to begin interest rate-cutting cycles this year. Here are four fixed income themes we believe could present investors with opportunities during the remainder of 2024. Key takeaways: - In anticipation of future rate cuts, we favour steepeners in the US and Germany, while monetary policy normalisation in Japan over the coming years favours a flattening yield curve expression. - Following a high degree of correlation in the performance of developed bond markets, diverging economic outlooks will likely open up relative value opportunities across sovereign bond markets. - Caution is warranted in corporate bonds – especially high yield – given rich valuations. As economic performance and monetary policy diverge, and the US dollar starts to face headwinds, active currency management is set to play an increased role in fixed income portfolios. By Julian Le Beron, CIO Core Fixed Income and Ranjiv Mann, Senior Portfolio Manager, Core Fixed Income at Allianz Global Investors #NavigatingRates #FixedIncome

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Against a backdrop of politically induced volatility in European credit markets & rich valuations, we continue to trade up to higher quality issuers. Read more as part of our Q3 Active Fixed Income Outlook: https://bit.ly/4c0dwvC For professional investors only. Capital at risk.

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Register now for the presentation of our five-year market outlook by chief strategist Luca Paolini and Arun Sai, senior multi asset strategist on Wednesday 12 June at 10:00 BST/11:00 CEST/17:00 HKT. They will share asset class return forecasts and tackle some of the significant risks and opportunities on the horizon. Not sure you can make it? Register and we will send you the replay soon after. https://lnkd.in/gBYCK6Q8 #secularoutlook #multiasset #investmentoutlook

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This month, I appeared on the FT Advisor podcast speaking with Simoney Kyriakou at the Financial Times about the growth of Independent Investment Management Initiative and what this means for the outlook for specialist asset managers. We touched on regulation, DE&I, innovation and the opportunities for the most entrepreneurial firms and the most active, active asset managers in our sector. What a pleasure, thank you Simoney Kyriakou. #boutiques #assetmanagement #growth

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Read #TheBondBlog to find out why global hedged fixed income may offer the opportunity to reduce risk and improved risk-adjusted returns while offering a broader opportunity set for adding value via active management: https://on.pru/3Ndtw3y

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Catch Portfolio Manager Obe Ejikeme on the next Asset TV Fund Selector Masterclass alongside Morningstar Wealth EMEA, Jennison Associates and Federated Hermes. The panel will discuss topics on fund selectors’ minds, such as how to defensively position equity portfolios in the current market cycle, equity market valuations in sectors such as #AI or #obesity and the divergence between corporate earnings forecasts and economic growth. ▶️ Watch the masterclass on October 30th here → https://okt.to/JZy2t7 #assetmanagement #marketingcommunication #finance #investment #investinginyourinterest #equities #masterclass

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The ability of #ArtificialIntelligence to understand data continues to evolve as it is applied across #StateStreetAlpha. This feedback loop enhances the model, creating continuous improvement optimized for each data domain and adding further value for institutional investors. Learn More: #AI http://ms.spr.ly/6047YgVjf

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Many of the major central banks (excluding Japan) are beginning or set to begin interest rate-cutting cycles this year. Here are four fixed income themes we believe could present investors with opportunities during the remainder of 2024. Key takeaways: - In anticipation of future rate cuts, we favour steepeners in the US and Germany, while monetary policy normalisation in Japan over the coming years favours a flattening yield curve expression. - Following a high degree of correlation in the performance of developed bond markets, diverging economic outlooks will likely open up relative value opportunities across sovereign bond markets. - Caution is warranted in corporate bonds – especially high yield – given rich valuations. As economic performance and monetary policy diverge, and the US dollar starts to face headwinds, active currency management is set to play an increased role in fixed income portfolios. By Julian Le Beron, CIO Core Fixed Income and Ranjiv Mann, Senior Portfolio Manager, Core Fixed Income at Allianz Global Investors #NavigatingRates #FixedIncome

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In ‘The Portfolio Margining Imperative for Interest-Rate Derivatives’, Coalition Greenwich (a division of CRISIL) explores the evolution of #derivatives market structure, efforts to optimise margin and the mechanics and potential benefits of #LCH’s newly launched #ListedRates #clearing service in partnership with FMX Futures Exchange. Read the full article here: https://lseg.group/3BR895o

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Christian Dery, our Head of Macro Strategy, talks to Pensions & Investments about the benefits of macro strategies in portfolios and CFM's three pillars approach to systematising global macro strategies. Read the full article here: https://lnkd.in/e4fBswSQ #globalmacro #investmentstrategies #alpha #quantitativeinvestments

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