DURATION and currency bets provided global bond managers with opportunities for alpha generation in 2006, according to Standard & Poor's.
The market intelligence provider described 2006 as a tough year for managers in the global fixed interest sector as central banks tightened monetary policy. However, while duration and currency bets were important, Randal Goldsmith, lead analyst at Standard & Poor’s, said the timing as well as directionality of duration positioning was significant. He highlighted that within the dollar and sterling areas, Paul Thusby and Peter Geike-Cobb at Thames River, were examples of managers who made money on duration from backing their convictions. In terms of currency, Goldsmith said: “Gett...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes