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Opinion - Dave Lafferty : "If you were waiting for evidence that European monetary policy has turned the corner, you'll definitely be disappointed... if not surprised."

David Lafferty — 2019-03-10T23:20:00Z

Draghi essentially confessed to what everyone already knows - the European economy , after a short bout of strength in late 2017/early 2018 - is decelerating again.

Opinion - Lehman: 10 Years After

David Lafferty — 2018-09-12T23:15:00Z

It's often said that you should never let a good crisis go to waste. As we approach the 10-year anniversary of the seminal event of the Global Financial Crisis – the collapse of Lehman Brothers – investors may wonder if we've learned anything from past mistakes. Through the varying lenses of policymakers, investors, and markets, the answer is decidedly mixed.

Opinion - End of an Era?

David Lafferty — 2018-01-30T23:08:00Z

Do investors realize how good they've had it over the last 8+ years ? On the obvious side, the length and strength of the equity bull market has been well publicized. Since the March '09 bottom, US equities are up over 300% (S&P 500®) while global equities are up over 200% (MSCI World).

Strategy - Will Passive Save Active?

David Lafferty — 2017-11-14T23:06:34Z

According to David F. Lafferty, CFA®, Senior Vice President – Chief Market Strategist at NGAM, the pressures exerted by passive indexing are forcing active managers to tackle longstanding sources of inefficiency and underperformance. By setting more appropriate fees and weeding out closet indexers, active strategies should rise in the competitive rankings.

Opinion - The French election represents a win for EU continuity and integration.

David Lafferty — 2017-05-08T23:56:02Z

According to David Lafferty, Chief strategist, Natixis Global Asset Management, the French election represents a win for EU continuity and integration. As Le Pen risk passes, the next hurdle for the EU project is likely to be the Italian banks which remain mired in non-performing loans and poor capital positions with little political stability to address the problem...

Opinion - Central Banks and the Definition of Insanity

David Lafferty — 2016-09-22T00:00:00Z

It is often said that that the definition of insanity is doing the same thing over and over and expecting a different result. This appears to be a lesson that central bankers have been unable – or unwilling – to grasp.

Opinion - Thursday's historic “Leave” vote in the UK will have both immediate and long-term consequences for the global economy and financial markets.

David Lafferty — 2016-06-27T05:52:13Z

The initial flight-to-quality reaction across asset classes has been exacerbated by the market's misplaced confidence in a “Remain” victory leading up to the vote.

Opinion - Brexit : While a “leave” vote is likely to cause a quick sell-off in risk assets, the more important market implications would play out over a much longer time frame.

David Lafferty — 2016-06-23T06:31:51Z

According to David Lafferty, Chief Market Strategist, Natixis Global Asset Management, event risks that are accurately, or close to accurately, priced are difficult to hedge on the fly...

Opinion - The More Things Change …

David Lafferty — 2016-01-13T00:32:14Z

For all that happened in 2015, one has to wonder if it will be lost in the textbooks as a pretty uneventful year. Sure it was the year of Ukraine, the Volkswagen scandal, “Unicorns”, ISIS, China's slowdown, Fed “liftoff”, and another chapter in the Greece drama, but what really changed?

Opinion - The Fed's Three Problems

David Lafferty — 2015-10-30T08:41:17Z

First, let's start with an apology: All too often this year our notes have focused on the U.S. Federal Reserve, or global monetary policy in general. In our defense, as the global economy becomes more dependent on debt, in all its forms, the importance of servicing that debt cannot be overstated. Moreover, as fiscal policies have become exhausted in an era of European austerity and U.S. Congressional dysfunction, the role of monetary policy has been magnified. Until recently, we have been fairly optimistic concerning the Fed's ability to navigate the course to higher rates. We are less so today.

Who's who - Sébastien Denry

2016-11-17T00:40:58Z

Sebastien Denry, Investment specialist Quant Equity, THEAM Sébastien Denry is an Investment Specialist at THEAM, the partner of BNP Paribas Investment Partners specialized in Protected, Indexed and Model-Driven management. Sebastien is in charge of the development of the Quantitative Equity (...)

News - Euronext in exclusive talks to acquire 20% of EuroCCP and to offer user choice clearing model for equity markets

2016-05-12T15:57:16Z

• MOU signed to finalise the acquisition of a 20% stake in EuroCCP for €14M (including contribution to regulatory capital) subject to closing adjustments • Euronext to create user choice for clearing of Euronext equity markets, through a preferred CCP model followed by interoperability • This (...)

News - ING completes sale of Taiwanese asset management business

2014-04-18T07:12:33Z

ING has completed the sale of ING Investment Management Taiwan, its Taiwanese asset management business, to Japan-based Nomura Asset Management in partnership with a group of investors. The transaction, which was announced on 10 January 2014, is in line with ING's earlier announced strategy to (...)

News - Swiss Re denies being in discussions with the Agnelli family or any of its investment vehicles

2014-03-12T23:21:45Z

Contrary to market speculation, Swiss Re is not in discussion with the Agnelli family or any of its investment vehicles regarding the possible acquisition of a stake in Swiss Re.

News - ING finalises agreement to make Dutch Defined Benefits Pension Fund financially independent

2014-02-28T09:34:38Z

ING announced today that it has finalised the previously announced agreement in principle to make ING's closed Defined Benefits (DB) Pension Plan in the Netherlands financially independent. The finalisation of the agreement releases ING from all future financial obligations arising out of this (...)

News - ING posts 2013 underlying net profit of EUR 3,255 million

2014-02-12T20:29:19Z

ING Group full-year 2013 underlying net profit of EUR 3,255 million, up 22.2% from full-year 2012 2013 net result EUR 3,232 million, or EUR 0.85 per share, including divestments, special items and discontinued operations 4Q13 net result of EUR 539 million, or EUR 0.14 per share, vs. EUR 0.39 (...)

News - Fitch Publishes Tikehau Credit Plus 'Strong' Fund Quality Rating

2014-02-02T19:23:52Z

Fitch Ratings has published Tikehau Credit Plus ‘Strong' Fund Quality Rating. The fund is France-domiciled and managed by Tikehau Investment Management (Tikehau IM).

News - Fitch Affirms CPR Croissance Reactive 'Strong' Fund Quality Rating

2014-02-02T19:22:30Z

Fitch Ratings has affirmed CPR Croissance Reactive's ‘Strong' Fund Quality Rating. The fund is a flexible multi-asset global fund, managed by CPR Asset Management (CPR AM), a wholly owned subsidiary of Amundi Asset Management.

News - ING completes sale of stake in China Merchants Fund

2013-12-04T01:06:17Z

ING announced today that it has completed the sale of its 33.3% stake in China Merchants Fund, an investment management joint venture, to its joint venture partners China Merchants Bank Co., Ltd., and China Merchants Securities Co., Ltd. The transaction, which was previously announced on 8 (...)

News - ING completes sale of investment management business in South Korea to Macquarie

2013-12-02T18:04:31Z

ING announced today that it has completed the sale of its investment management business in South Korea to Macquarie Group, an Australia-based, global provider of financial services. As previously announced on 10 July 2013, the transaction does not have a material impact on ING Group (...)

News - ING prices offering of ING U.S. shares at USD 29.50 per share

2013-10-23T22:49:23Z

ING announced today the pricing of 33 million shares of common stock of ING U.S., Inc., its U.S.-based retirement, investment and insurance subsidiary. Based on the final price of USD 29.50 per share, the offering size is approximately USD 974 million (approximately EUR 706 million at current (...)

News - Fitch Affirms Austria at 'AAA'; Outlook Stable

2013-09-29T18:32:25Z

Fitch Ratings has affirmed Austria's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AAA' with Stable Outlook. The agency has also affirmed the Short-term foreign currency IDR at 'F1+' and the Country Ceiling at (...)

News - Fitch Affirms European Stability Mechanism at 'AAA'; Outlook Stable

2013-09-10T19:06:15Z

Fitch Ratings has affirmed the European Stability Mechanism's (ESM) Long-term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and Short-term IDR at 'F1+'.

News - Fitch Affirms Denmark at 'AAA'; Outlook Stable

2013-09-05T06:07:31Z

Fitch Ratings has affirmed Denmark's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AAA' with a Stable Outlook. Fitch has simultaneously affirmed the Short-term foreign currency IDR at 'F1+' and the Country Ceiling for Denmark at (...)

News - Fitch Affirms Sweden at 'AAA'; Outlook Stable

2013-07-17T21:37:42Z

Fitch Ratings has affirmed Sweden's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'AAA'. The Outlook on both ratings is Stable. Fitch has also affirmed Sweden's Short-term rating at 'F1+' and Country Ceiling at (...)

News - Fitch Downgrades Major French Banks

2013-07-17T21:35:01Z

Fitch Ratings has downgraded the Long-term Issuer Default Ratings (IDRs) of Credit Agricole (CA), Societe Generale (SG), Groupe BPCE (GBPCE), Dexia and Dexia Credit Local (DCL) to 'A' from 'A+' and Short-term IDRs to 'F1' from 'F1+'. Fitch has also downgraded BNP Paribas' (BNPP) and CM11-CIC's (...)

News - Fitch Downgrades European Financial Stability Facility to 'AA+'

2013-07-16T06:07:31Z

Fitch Ratings has downgraded the European Financial Stability Facility's (EFSF) guaranteed and long-term debt Long-term rating to 'AA+' from 'AAA'. The EFSF's short-term (less than 12 months contractual maturity) guaranteed debt instruments' Short-term rating has been affirmed at (...)

News - Fitch Downgrades France to 'AA+'; Outlook Stable

2013-07-12T17:50:31Z

Fitch Ratings has downgraded France's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'AA+' from 'AAA'. The Outlook is Stable. At the same time, the agency has affirmed France's Short-term foreign currency IDR at 'F1+' and the Country Ceiling at (...)

News - ING to sell Investment Management business in South Korea to Macquarie

2013-07-10T20:56:23Z

ING announced today that it has reached an agreement to sell its investment management business in South Korea to Macquarie Group, an Australia-based, global provider of financial services. The transaction is not expected to have a material impact on ING Group results. Subject to regulatory (...)

News - Fitch Affirms Japan at 'A+'; Negative Outlook

2013-05-16T20:15:08Z

Fitch Ratings has affirmed Japan's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A+' with a Negative Outlook. The Short-term IDR has been affirmed at 'F1+'. The Country Ceiling has been affirmed at 'AA+'. The affirmation of Japan's sovereign ratings in part reflects the (...)