Fallen angels

Angel wingsThe number of global “fallen angels” has increased by eight to 32, according to Standard & Poor’s (S&P) Ratings Services. In comparison, the count was 28 at the same time last year. In finance, the term refers to bonds or stocks that have fallen substantially from their all time highs. S&P said there were 32 bonds that were once investment grade but had been downgraded to speculative grade. This is the largest increase of any reporting period this year. There were “fallen angels” in both emerging and developed markets, including the US and Europe, but S&P said Italian banks led the trend. ©2012 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.