All Loans articles – Page 4
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White papersUnlocking the potential of European Leveraged Loans
We believe that in 2025 the European leveraged loan market will broaden its appeal to investors as a significant asset class to consider. While it has been well established in the US, it has grown significantly in recent years in Europe, with its market size currently close to that of the European high yield bond market.
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White papersThe strategic and tactical case for loans
Floating-rate loans can offer attractive yields, low duration risk, and diversification benefits, making them a compelling option in today’s market
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White papersHow project finance fits into a trade finance strategy
Project finance is a natural complement to trade finance, offering enhanced diversification and attractive risk-adjusted returns.
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White papersEverything you wanted to know about tariffs and trade finance
A new trade war between the US and China could have unexpected consequences.
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White papersBeneath the surface: market structure considerations for syndicated loans
Assumptions in syndicated loan indexes on reinvestment timing, liquidity, and cash drag can distort returns - key insights to navigate structural inefficiencies.
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White papersCLOs: 4 Factors to Watch
CLOs look well-positioned in the current environment, particularly given their floating-rate nature, robust structural protections, and potential for incremental yield—but risks remain on the horizon.
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White papersFixed Income prepares for a shiny new year
Bonds finished 2024 with positive returns, and we believe fixed income assets can continue to shine. Solid economic growth, sticky inflation and a slow pace of U.S. Federal Reserve rate cuts should keep shorter-term yields elevated. And relatively stable longer term rates mean higher yields can help build portfolio income and return potential. In this environment, we like well-diversified multisector and core plus bond strategies in particular.
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White papersNo Need to Stress About Less Distressed
Following the Global Financial Crisis (GFC) of 2008, the distressed credit landscape has been substantially reshaped by regulatory changes, shifts in economic cycles and the growing influence of alternative investment strategies. This article explains why the economic and market trends of the past 15 years mean outright distress has become rarer and asks, are there other areas of the credit markets where insurers can look for a similar return profile?
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White papersEuropean Insurance Regulation in 2025: Investment Implications
We expect a transformation of the insurance regulatory landscape through 2025. Solvency UK reforms and the comprehensive review of the European Union’s (EU) Solvency II regulation offer new perspectives on risk management and capital efficiency. In addition, sustainability frameworks are set to continue developing at a fast pace, requiring insurers to stay abreast of changes to reporting, fund-disclosure and transition-risk requirements. In this article, we survey some of the key developments ahead and note their investment implications.
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White papersAsset-Based Lending: Does It Work for Insurers?
Asset-based lending became a key topic in investor discussions last year and looks like the new frontier in private credit—but does it suit insurers’ needs?
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White papersWhy invest in trade finance?
The demand for trade finance continues to increase, despite a global shortage of financing to facilitate the deals. As we outline in this paper, this shortfall has created an array of potentially high-yielding investment opportunities for providers with the right resources, analytical teams and banking connections.
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White papersEuropean leveraged loans outlook 2025: The recovery continues
As we enter 2025, optimism surrounding the European leveraged loans market builds despite the geopolitical backdrop remaining unpredictable. This outlook reviews the factors that defined the European loans market in 2024 and discusses the key drivers likely to impact it over the next 12 months.
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White papersDeveloped APAC: Capitalizing on a Compelling Growth Story
The developed APAC direct lending market is relatively nascent compared to the U.S. and Europe but offers similar risk and return characteristics—with the added benefit of diversification and access to a compelling global growth opportunity.
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White papersRise of the Residential Whole Loan
Given the potential for yield and capital efficiency, residential whole loan mortgages have been the fastest growing asset class in life insurers’ investment allocations in recent years. Partnering with a manager that has the experience and resources to navigate this dynamic market is key.
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White papersInsurance Fixed Income at the Top of the Cycle
How a fixed income portfolio split between core government bonds and high quality private assets can both augment yield and build strength for an economic slowdown.
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White papersABS: Normalizing Delinquent Behavior
Economic uncertainty and recession fears, combined with deteriorating metrics for consumer ABS, have given some investors pause, but we are relatively optimistic.
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White papersThe U.S. Office Debt Opportunity
We see a compelling thesis, with multiple complementary investment approaches, forming for investors around the office sector’s current and anticipated capital needs.
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White papersHigh Yield: Resilience Amid a Shifting Backdrop
With the favorable fundamental and technical backdrop firmly in place, and attractive income opportunities remaining in both bonds and loans, the case for high yield continues to be compelling.
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White papersDemystifying the world of structured credit
As an asset class, Structured Credit has been around for decades. However, despite not being new, many investors remain slightly mystified by it and the role(s) it could play in their portfolios, being labelled as overly complex or an investment area reserved largely for highly experienced investors. Despite the perception, structured credit in fact is very straightforward with a focus on loan and credit products that help provide an integral source of funding for the real economy.
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White papersRelative Value & Tactical Asset Allocation Q4 2024
We are anticipating a stable macro environment in the near future, with some uncertainties stemming from U.S. elections and monetary policy. We continue to look for spreads to mostly remain range bound, with a low chance of further tightening. With a low risk of recession, a carry strategy is preferred in the next quarter or two, meaning we prefer investments with attractive yields, while remaining cautious about potential weakness.
