Alpha Journal

17/08/2023

I am sorry to share the sad news that Margie Lindsay died on Tuesday 25th July.
Her funeral will be held at St Andrew’s Church, Surbiton, KT6 4DS @ 12.30pm on Weds 23rd August.
For those who cannot attend in person, here is the zoom link for Margie's funeral from St Andrew's, Surbiton.
Time: Aug 23, 2023, 12:30 PM London.
Join Zoom Meeting
https://lnkd.in/eFssPWJt...
Meeting ID: 854 9737 2247
Passcode: 620507

02/05/2023

US companies raise less than a fifth of Chinese total this year as banking turmoil dulls enthusiasm for new listings

01/05/2023

The industry is braced for mass upgrades, analysts say, risking a new wave of greenwashing accusations.

New guidance that means fund managers can rely on their own methodology is expected to add to confusion

01/05/2023

Bank is planning a hiring spree and significant expansion of its investment bank advisory team, as it positions itself for a dealmaking rebound and to take advantage of market dislocation after the collapse of rival Credit Suisse.

Expansion designed to prepare for dealmaking rebound and reduce reliance on fixed-income sales and trading

30/04/2023

The total value of Italy’s bonds borrowed by investors to wager on a fall in prices has dropped by 40 per cent over the past month.

Short sellers pull back after fall in gas prices and less political turbulence than expected

30/04/2023

The agency moved the eurozone’s second-largest economy down one notch to AA- with a stable outlook.

Rating agency warns pensions reform battle could thwart efforts to improve public finances

29/04/2023

The four key takeaways of the report are:
1. Silicon Valley Bank’s board of directors and management failed to manage their risks.
2. Supervisors did not fully appreciate the extent of the vulnerabilities as Silicon Valley Bank grew in size and complexity.
3. When supervisors did identify vulnerabilities, they did not take sufficient steps to ensure that Silicon Valley Bank fixed those problems quickly enough.
4. The Board’s tailoring approach in response to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) and a shift in the stance of supervisory policy impeded effective supervision by reducing standards, increasing complexity, and promoting a less assertive supervisory approach.

“Textbook case of mismanagement” etc

29/04/2023

The report had harsh words for the California bank’s management and also pinned the blame directly on changes stemming from bipartisan legislation in 2018, which eased restrictions and oversight for all but the biggest lenders.

US central bank says its own supervisors were too slow to correct blunders by Silicon Valley Bank’s management

29/04/2023

Funds marketed with a sustainable label were hit with $12.4bn in net outflows in the US in the past 12 months.

Cash has flowed out of ESG strategies over past year even as sector continues to boom in Europe

29/04/2023

Crispin Odey and James Hanbury are among the hedge fund managers burned by a 16 per cent rally in the Nasdaq Composite this year.

Robust round of earnings fuel sector rebound that takes short sellers by surprise

28/04/2023

World’s largest sovereign wealth fund has called on governments to speed up the regulation of artificial intelligence.

CEO Nicolai Tangen says fund will set guidelines for companies it invests in on ‘ethical’ use of artificial intelligence

28/04/2023

The number of ETFs carrying an ESG label more than doubled in the past two years, reaching almost 1,300 at the end of 2022, according to consultancy ETFGI.

As regulators reclassify some investments, more due diligence on methodologies is needed

28/04/2023

Jonathan Hill points to cultural issues like executive pay and attitudes to risk as well as pension fund strategy

28/04/2023

Lenders under pressure on emissions as shareholders go against board recommendations

28/04/2023

“Invest, and then investigate”

28/04/2023

Dan Kamensky returns to distressed debt markets to shine light on industry’s hardball tactics

28/04/2023

Almost three-quarters of US corporate debt defaults last year were out-of-court “distressed exchanges”, where a company offers creditors assets worth less than their original bonds or loans, according to a report by Moody’s.

Private equity backers push out-of-court restructurings to preserve their stakes when businesses default

28/04/2023

The writer is a professor of sociology at Edinburgh university

Formula supported the development of trading in the instruments after Chicago Board Options Exchange launch

28/04/2023

ETFs now face heightened competition from the world of stockpicking.

Active fund performance has been patchy, yet some hope the tide has turned, or point to the funds’ specialist edge

28/04/2023

Volatile markets and a stream of redemptions at the end of last year pushed lenders’ managed assets down by more than Rmb1.36tn ($200bn), raising concerns about future growth.

Retail investors sell in panic after ‘risk-free’ investments tumble in value

28/04/2023

“The complexity of the demands on an asset manager are clearly increasing,” said Ali Dibadj, chief executive of Janus Henderson.

New generation of leaders warns of growing complexity and end of industry’s ‘golden decade’

31/03/2023

Countries such as Nigeria that had planned to issue bonds have avoided coming to market.

Banking turmoil has driven up spreads on sovereign bond yields over US Treasuries to levels that impair ability to raise funds

31/03/2023

The World Bank said the war in Ukraine together with the pandemic had created lasting damage to the global economy.

Fallout from pandemic and war in Ukraine could be exacerbated if financial turmoil sparks recession

31/03/2023

Kristalina Georgieva said: ‘The rapid transition from a prolonged period of low interest rates to much higher rates necessary to fight inflation inevitably generates stresses and vulnerabilities’.

Kristalina Georgieva says uncertainties in the world economy remain ‘exceptionally high’

31/03/2023

US regulator contacted UK authorities after large collateral calls

31/03/2023

Investor uproar prompts Brussels to consider scrapping flagship sustainable investment category

31/03/2023

Investment banking revenue at Jefferies fell 42 per cent to $567m this year.

More companies are getting their loans from private credit funds

31/03/2023

The City of London Corporation says a long-term plan is needed to ‘stimulate growth in the financial and professional services sector.

Tie with New York comes despite government efforts to reinvigorate UK listings market

31/03/2023

The writer is an associate at Oxford university’s China Centre and research associate at SOAS University of London

Greater centralisation in a politicised financial system may lead to more instability

31/03/2023

The collapse of Silicon Valley Bank in the US was a significant factor in the fall in dealmaking.

Value of mergers and acquisitions drops 45% year on year to $550.5bn