RECENT Active Management RESEARCH
Socially responsible investing is known by several terms, including sustainable investing, green investing, and ethical investing.
In this series, we’ll look at how 2016 has panned out for Europe-focused mutual funds so far. We’ll take an in-depth look at the portfolios of 12 funds and conduct attribution analysis to see which sectoral or stock picks helped or hurt these funds.
Worries about Brexit’s impact on US financial markets have given way to concerns about US elections. But so far in 2016, US stocks and funds have done well.
In Richard Bernstein Advisors’ October newsletter, Richard Bernstein noted that although the bull run in US stocks is in its seventh year, investors remain afraid of equities.
The US dollar is at more than a six-month high compared to its peers. Let’s take a look at the US Dollar Index, which weighs the dollar against seven major currencies.
Alternatives are positioned for improved performance in the second half of 2016 on rising equity valuations, stabilizing oil prices, and a recovery in metals.
Carlyle expects EPS of $0.44 in 3Q16. For the full year, analysts have revised earnings expectations up to $1.44 with an implied price-to-earnings of 10.8x.
BlackRock (BLK), the world’s largest asset manager, is expected to post earnings per share (or EPS) of $4.96 in 3Q16, 1% lower than the prior year’s quarter.
Blackstone is the world’s biggest alternative asset manager. The company has underperformed its peers in recent quarters due to the weak performance of its private equity holdings.
Closed-end asset managers (PSP) are expected to see higher interest costs on their leverage positions if there is a substantial hike by the Federal Reserve by the end of 2016. Portfolio yields are expected to remain stable, as the demand for quality borrowers is high among lenders.
KKR & Co. is expected to post earnings per share (or EPS) of $0.50 in 3Q16, compared to EPS of -$0.37 in 3Q15 and EPS of $0.23 in 2Q16.
Berkshire lost $1.4 billion in valuations after the scandal related to Wells Fargo (WFC) unearthed. Berkshire stock has fallen 3% over the past one week.
Prospect Capital is expected to post EPS of $0.24 in the September quarter—lower than the previous quarter and the corresponding quarter one year ago.
The process of Brazil’s political impasse’s passing began in May 2016, when the case against Dilma Rousseff was found to be strong enough for impeachment proceedings to begin.
With one-third of 2016 yet to go, international funds have already had an action packed year. Events haven’t been restricted to a specific region or market.
Richard Bernstein believes that the corporate profit cycle in the US has turned for the better and if it comes about, the bull run in US equities may continue. In this series, we’ll evaluate 12 large-cap equity funds that invest in US equities.
T. Rowe Price Group (TROW) posted a $1.15 decline in earnings for 2Q16, excluding a one-time charge. Wall Street analysts estimate that TROW should maintain its current earning trajectory for 3Q16 at $1.15 per share.
AMG has managed to beat estimates over the past four quarters. It has seen a steady performance of its affiliates and is expected to post EPS of $2.98 in the September quarter.
Billionaire investor George Soros, who said in April 2016 that gold was the only asset that could outperform in the current market environment, is now getting out of gold.
In this series, we’ll be looking at alternatives’ deployments, fund performances, assets under management, strategic initiatives, and valuations.