Is it time for Irish investors to look at commercial property again? BlackRock, the global investment giant, last week told its clients that the outlook for property is brightening, with falling interest rates and reduced yields in other assets. Does Ireland fit into this “brightening” picture? Portfolio allocations to the sector have been dragged downContinue reading “Time to add to Property in your Portfolio?”
Author Archives: Eugene Kiernan
Are Irish Investment Managers charging too much?
Fees charged for managing money have been coming down. This has been a long term trend which has picked up pace. A recent global survey by Morningstar shows that over the past 4 years, management fees for all active funds in their universe have shifted down from 0.68% to 0.6%. Most of this decline tookContinue reading “Are Irish Investment Managers charging too much?”
Back to School! What Irish Fund Managers are saying today
2024 has been a good year so far for investors. But now, as we put away the buckets and spades and head into the home straight for the year, how do Irish investment managers see market prospects? Well, all in all, they seem to be a reasonably positive bunch. Not too concerned about recessions, expectingContinue reading “Back to School! What Irish Fund Managers are saying today”
Big Question: Has the US Consumer run out of Gas?
Maybe the single most important question for investors. Economists discuss, debate and differ over whether or not the US economy is headed for a recession. Let’s put the theories to one side, focus less on Wall Street, and look at what’s actually happening on Main Street. Just how healthy is the US consumer? This is theContinue reading “Big Question: Has the US Consumer run out of Gas?”
And the Winner is….
What’s driving the strong performance of Irish investment funds? What’s driving the winning performances amongst Irish fund managers today? And can it be sustained? Firstly, it’s been a good period to be invested in markets. Over the past year, Irish fund managers have on average returned around 20% in Global Equities and about 12 toContinue reading “And the Winner is….”
ESG funds in Ireland – What’s the Story?
Not all ESG funds are the same We all know that there has been a seemingly never-ending avalanche of investment funds that fall into the wide ESG, sustainable, impact, climate, renewable etc. bracket launched in recent years. It’s a broad church. There are so many variations on this theme in the market place. Some areContinue reading “ESG funds in Ireland – What’s the Story?”
For investors, does China matter anymore?
The South China Morning Post is worried about a recession in China. Fortune magazine speaks of a dead-end for the Chinese economy. And Bloomberg talks of China’s economic miracle fading. Chinese consumers lack confidence and the property sector’s problems seem to be intractable. It seems a far cry from the years when China was growingContinue reading “For investors, does China matter anymore?”
So….you still want to be an Investment Manager
Asset Management should be a great business. If you’re successful, you can grow, scale up your business, while keeping your costs under control, and generate huge profits. Also the demand for your product looks set to grow persistently as pension and wealth flows increase globally. However all is not well in investment management – certainlyContinue reading “So….you still want to be an Investment Manager”
Does Debt Matter?
The amount of debt that governments owe gets called out on a regular basis by commentators and analysts as one the key economic risks that we face. The IMF has been to the fore talking about the fiscal and financial risks of a high debt, slow growth world. In their view, higher long term interestContinue reading “Does Debt Matter?”
The Numbers Are Wrong!
For many investors in financial markets, economic data is crucial. The latest instalment on inflation, growth, or jobs, can have huge influence on market sentiment and market moves. Battalions of analysts and commentators pore over such numbers in the greatest of detail and then rush to publish their findings. But it seems that the onlyContinue reading “The Numbers Are Wrong!”
Are Investors too complacent today?
Stock markets around the world have hit record highs this year. In fact, markets have enjoyed a good run since end October last year – the US S&P index is up about 25% in that period. Principal driver was probably a benign view on where interest rates may go in 2024, coupled with a resilientContinue reading “Are Investors too complacent today?”
Interest rates will fall in 2024…..but when?
2024 will provide some relief for borrowers and potential borrowers as interest rates fall. But the question is how long they may have to wait, and how much should they expect, in terms of a reduction. Last night’s comments from the chief at the US Central Bank suggest we may have to wait a bitContinue reading “Interest rates will fall in 2024…..but when?”
Will Economists do any better in 2024?
Throughout 2023, the war-cry from many economists and market experts was for an imminent recession in the US. A tightening US Central Bank was going to derail consumption and investment and knock between 2 and 3% off economic growth. A stronger dollar would undermine exports. In a Wall Street Journal survey of economists at the startContinue reading “Will Economists do any better in 2024?”
The Central Bankers’ Christmas Party
‘Twas the night before ChristmasAnd all the markets were closed.Dealers all snuggled up in their bedsNo asset positions left exposed. But soft in the distance, the bells rang outAnd cherubs sang hale and heartyCoz after another year of decision makingThis was the night of the Central Bankers’ Christmas Party. The biggest night for governors pastContinue reading “The Central Bankers’ Christmas Party”
Why is the US economy in better shape than Europe?
Today the European Central Bank described Europe as being fragile and vulnerable. In contrast, the US Central bank spoke of broad based strength across all categories. What are the facts? Compared to the US, Europe has higher inflation, higher unemployment, weaker stock-markets and significantly lower economic growth. And the gaps aren’t marginal – unemployment in Europe isContinue reading “Why is the US economy in better shape than Europe?”
Understanding China
Last week, two of the world’s most powerful leaders met in San Francisco. One representing a resilient economy with continuing impressive growth in numbers of people working. The other heading up an underperforming economy with huge issues in key sectors such as property – but China still matters. For many investors, China is just aContinue reading “Understanding China”
Understanding Christine Lagarde
Central Bankers: Financial markets hang on their every word. Speeches are parsed and pored over to gain the smallest clue as to where policy may be headed. And if we’re close to a peak in interest rates, with an extended period of little change ahead of us, what Central Bankers say may matter more, thanContinue reading “Understanding Christine Lagarde”
The next crisis will start with empty office buildings
The above headline ran in the Atlantic magazine last week in the US. Also, the Financial Times speaks of a “financial storm” bearing down on the US commercial property market. Many analysts are talking of commercial property as the biggest systemic risk in the US today and being the next shoe to drop. Is thereContinue reading “The next crisis will start with empty office buildings”
Are Investment Funds getting too Big?
One trend that has been persistent, protracted and powerful in the Asset Management industry is consolidation. And it’s not just the mega deals. Mergers, acquisitions and restructurings have been an ever present feature, on both buy-side and sell-side, at all points on the size spectrum. Recent names in the headlines include Franklin Templeton, Liontrust, Crux,Continue reading “Are Investment Funds getting too Big?”
Beyond the Taverna
Just over 10 years ago, it’s major cities were on fire. Bank buildings were burnt and foreign owned stores set alight and looted. Mass demonstrations were violent and fatal and met with riot police and tear gas. The political system was on the verge of collapse. Today, Greece is one of the fastest growing economiesContinue reading “Beyond the Taverna”
Tradewinds 