Money managers under the microscope
News and views on the fund industry from Reuters and elsewhere:
We still like cash – Reuters
Harvard SWF prop. deal on ice – Bloomberg
…while other prop. buyers head for Japan – Reuters
Know your bubbles – AllAboutAlpha
from Jeremy Gaunt:
Reuters asset allocation polls for August are out. They show very little change from July, which suggests investors are still cautious and uncertain about what is happening.
One big difference, month-on-month, was a large jump into investment grade corporate debt. Andrew Milligan of Standard Life Investments reckons this may in part have been because sovereign debt rallied so much over summer that returns from government bonds are now too meagre.