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Manager Intelligence and Market Trends
bfinance’s quarterly report in August 2021: read the team’s latest insights on institutional investor activity, risk appetite, market developments and asset manager performance across all major asset classes.
IN THIS PAPER
As populations in developed markets gradually gain protection from Covid-19 infection, managers are embracing risk-on positioning despite the regional difficulties created by the ongoing spread of the Delta variant: At the end of Q2 2021, multi-asset managers’ average equity exposure sat nearly 8% above the longterm average.
bfinance recorded a remarkable 53% increase in new manager searches through the 12 months to 30 June. Investors are seeking to participate in the global economic recovery and diversify their holdings to address, among other things, inflation and interest rate risks.
As the global economic recovery gained ground in Q2, equity markets continued their upward trajectory and active managers struggled to keep pace in terms of performance. The quarter put a pause on the resurgence of the Value style.
Private market search activity remained robust in Q2, accounting for 45% of all search activity in the trailing 12 months to 30 June. Industrywide fundraising statistics indicate that Q2 may be one of the strongest on record, with a total of USD 379 billion raised across all strategies—when all contributions are fully tallied, the final total may actually exceed USD 400 billion, which would constitute a new quarterly record.
With inflation rising and the risk of interest rate increases looming on the horizon, fixed income investors have continued to shift from conservative strategies to higher-yielding market segments, such as emerging market debt and US corporate high yield. We have also noted an increased in searches for multisector strategies.
Each quarter, bfinance publishes information on investor activity, key market trends and manager performance. A quarterly snapshot of the key developments within equity, fixed income and alternative investments, including analysis of which asset manager groups performed well and which didn't.
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This commentary is for institutional investors classified as Professional Clients as per FCA handbook rules COBS 3.5R. It does not constitute investment research, a financial promotion or a recommendation of any instrument, strategy or provider. The accuracy of information obtained from third parties has not been independently verified. Opinions not guarantees: the findings and opinions expressed herein are the intellectual property of bfinance and are subject to change; they are not intended to convey any guarantees as to the future performance of the investment products, asset classes, or capital markets discussed. The value of investments can go down as well as up.
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