Institutional Asset Management News and Insights
It just got messy.
Just when it seemed that the central banks could focus solely on inflation, a potential banking crisis has emerged that may derail their plans for a smooth landing and lower inflation. While policymakers appear calm on the surface, like an elegant swan floating across...
ANDPAPERS Q2 2023 | THE BALANCING ACT
The first quarter of 2023 began with positive sentiment on the growth outlook, as energy costs fell and China’s economy showed tentative signs of reopening. However, the mid-March collapse of Silicon Valley Bank (SVB) and Credit Suisse (CS) served as a sharp reminder...
THE DEBRIEF | Q2 2023
We invite you to sit down with our Chief Investment Officer, Pau Morilla Giner, and Head of the Private Investment Office, Iain Tait, as they debrief on the last quarter and look ahead to potential market trends for Q2 2023. They examine the geo-political shifts,...
Q2 Economic Update
It just got messy Just when it seemed that the Central Banks could focus just on inflation, along comes a “potential” banking crisis that may yet derail their well-laid plans for a smooth landing and lower inflation. On the surface the policymakers look calm and...
The Shepherd and the sea. Should insurers invest actively or passively?
THE CALM INVESTMENT SEA In our previous instalment, Heracles (or Hercules) had battled the Lernaean Hydra - mirroring insurance companies’ battles against investment risk in various guises. This time we shift to a completely different story; (in my Greco-Roman...
Inflation forecast: what to expect in 2023?
Inflation is seemingly past its peak across most major economies, but of course it is still extremely high and well above target levels. A return to target is not likely until 2024, with average inflation rates looking high. However, this disguises the improvement...
A soft or harder landing?
The gap between official economic forecasts (the consensus is for a soft landing) and market expectations has widened further, with the latter discounting a greater probability of a steeper economic contraction. In our economic projections that underpin our asset...
Are central banks on a divergent path?
We reiterate our statement from last quarter that the major central banks are well advanced on the path of moving to a tight monetary regime through raising interest rates and starting QT (quantitative tightening). The Fed may well have deliberately adopted a hawkish...
ARE YOU COVERED? Eight key questions on Cayman’s new insurance regulations ‘Investment Activities of Insurers’, (‘The Rule’)
The Cayman Islands Monetary Authority (CIMA) issued a new piece of legislation in February last year that aimed to tighten up regulation around the investment activities of insurance companies on the island. The Rule was broadly designed to ensure assets are managed...
ANDPAPERS Q1 2023 | CENTRAL BANKS DIVERGING
“There are decades where nothing happens, and years when decades happen.” 2022 was indeed one of those years. In February, Russia’s amassing of troops on Ukraine’s border quickly erupted in an armed conflict that is still ongoing. This caused oil and gas prices to...
VANQUISHING THE INVESTMENT RISK HYDRA. CAN INSURERS SIMULTANEOUSLY OPTIMISE AGAINST ECONOMIC, REGULATORY AND ACCOUNTING RISK?
The investment risk Hydra Ancient Greek mythology speaks of the great hero Heracles (known as Hercules to the Romans); and of his twelve labours performed as penance. The second of his heroic labours was vanquishing the Lernaean Hydra, a serpentine monster with...
The Debrief | Q1 2023
We invite you to sit down with our Chief Investment Officer, Pau Morilla Giner, and Head of the Private Investment Office, Iain Tait, as they debrief on the last quarter and look ahead to potential market trends for Q1 2023. They examine the geo-political shifts,...