Latest News,
Views & Blog

Multi-Asset Blog

Read More

Emerging Market Viewpoints

Read More

G10 Macro Rates Blog

Read More

In the News

Read More

Emerging Market Viewpoints – June 2019

28 June 2019

Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team

The hunt for yield is back
Over the past nine months the world has changed dramatically. Towards the end of last summer, US 10 year bond yields were at 3.2% - levels almost recognizable to someone from a time before QE and ZIRP. German 10 year bond yields were low but clearly positive. Emerging markets were responding in ways that reflected their fundamental strengths and weaknesses – a collapse in Turkey and Argentina, steadily rising yields elsewhere. Normalization of interest rate policy was expected and asset prices were going to reflect this. 

Read More

G10 Macro Rates Blog – The Great Liquidity Trap

28 June 2019

Latest G10 Macro Rates Blog
With Shayne Dunlap, Co-Portfolio Manager

When is daily liquidity not daily liquidity?
Easy, when the fund is gated, or more technically when there is a mismatch between the liquidity of the wrapper (daily UCITS etc) and the less liquid underlying investments.  

Read More

G10 Macro Rates – Roundtable Event

27 June 2019

G10 Macro Rates – Lunchtime Event
The Clubhouse, St. James's Square, London, 26 June 2019

Pacific Asset Management was delighted yesterday to host a G10 Macro Rates Roundtable event in St James’s and many thanks to those who joined us who helped make it a success. 

Read More

Multi-Asset Blog – It's War!

03 June 2019

Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
The importance of being genuinely multi-asset in the face of global trade wars

It looked as though trade peace had broken out between the US and China. Now Trump’s latest salvo of new tariffs and ban on Chinese telecom giant Huawei threatens to usher in a long-term conflict over technology supremacy. 

Read More

G10 Macro Rates Blog – Take away the punchbowl

16 May 2019

Latest G10 Macro Rates Blog
With Shayne Dunlap, Co-Portfolio Manager

Take away the punchbowl/Kill the Zombies!
At a recent meeting with a respected economic research firm, they alluded to the fact that the quick back track by the Fed earlier this year may have avoided yet another recession and lengthened the economic cycle by a few more years – To which I questioned – “Are Central Banks meant to avoid recessions or depressions?”  

Read More

Latest 2019 Multi-Asset Master Class

07 May 2019

In the latest of our Multi-Asset Master Classes, Matthew Lamb, CEO of Pacific AM and Will Bartleet, CIO/Portfolio Manager of Pacific Multi-Asset discuss some of the reasons behind recent movements in the markets and the Federal Reserve’s input into these movements. They discuss market opportunities in this environment including EM equities, EM debt, gold and macro funds and the potential impact of inflation. They conclude by explaining the continued importance of diversification.
 

Read More

Emerging Markets Webcast

30 April 2019

Emerging Markets Webcast with North of South Capital
The Danger of the Monetary Illusion

Kamil Dimmich, Co-manager and Partner of North of South Capital was recently asked by Brooks MacDonald to participate in their latest webcast.

Kamil discusses the Monetary Illusion, a term made famous by John Maynard Keynes which describes the tendency of investors to fixate on higher nominal returns rather than focus on real returns. He explains why this is particularly true in some emerging markets and how it is possible to ensure you don’t fall foul of this common investor trap. 

Read More

G10 Macro Rates Blog – The evolution of discontent

10 April 2019

Latest G10 Macro Rates Blog
With Shayne Dunlap, Co-Portfolio Manager

With developed markets exhibiting the lowest unemployment levels in generations, why are their workforces not happier?
Over the last two decades the force of globalisation has pushed much of the worlds manufacturing and heavy industry to lower cost base economies into emerging markets (EM). This flow has resulted in many millions of EM workers being dragged out of poverty. That is a global success story that we should long remember and celebrate! Additionally, the populations of the developed market (DM) economies have directly benefited with the resulting access to cheaper goods and products – yet they are not happy! Even with many unemployment levels in the DM world hovering around multi year lows, this would seem to be at odds to the reality of discontent. 

Read More

International Adviser, 2019 Guide to Multi-Asset

02 April 2019

Freddie Streeter, Sales Director - Pacific Asset Management
The Alpha Project

Pacific Asset Management is very glad to be part of the 2019 International Adviser Guide to Multi-Asset. The guide is designed to help advisers assess some of the options available within multi-asset and better understand some of the benefits of multi-asset investment strategies. 

Read More

Emerging Market Viewpoints – March 2019

29 March 2019

Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team

Even before the current Mexican President Manuel Lopez Obrador (AMLO) had taken office, he and his party (Morena) caused a significant sell off in both the equity and currency markets. 

Read More