XxX | Feature Contents Editorial
VOLATILE TIMES
So, are you a Bayern Munich fan? Borussia Dortmund? Eintracht Frankfurt? Or, per- haps Bayer Leverkusen? It has to be one of them or their peers in the Bundesliga, Germany’s elite football divi- sion. There are no other teams to watch at the weekend…anywhere. It appears that Germany is the only country in the world to resume its football season after the sporting calendar was decimated by the arrival of the Covid-19 virus and the social distancing that was ordered as a response. This is one of a few examples of life returning to normal after the lockdowns were announced across the world more than two months ago.
And that is just it. It is a case of new month, same story since our last edition was pub- lished in April. Little has changed, especially in the markets, which are still largely blighted by volatility, which is likely to become a recurrent challenge for institutional investors. Yet one of the biggest concerns investors have about the current market disruption is to decide if volatility is their friend or not.
The crisis was not caused by economics or an overheating financial services industry, but by a virus. So, have the lockdown measures altered the fundamentals? This could be a time to snap up a few bargains, but it could also be a time to proceed with caution, to move more slowly and see what happens. Our cover story this month examines how institutional investors are managing volatility. Our coverage starts on page 20, where you can find out why Yu Meng’s timing is so bad that it may have cost public sector workers in California $1bn. Cybercrime is a topic that has risen up the news agenda at a time when more people are working remotely. We look at how investors can limit such risk and how to gain expo- sure to the theme (page 34). We also examine how defined contribution schemes are dealing with the upheaval in the markets and their members’ lives (page 38) and look at if real assets are proving to be immune to the volatility (page 42).
Stay safe.
Mark Dunne Editor
m.dunne@portfolio-institutional.co.uk
Issue 93 | May 2020 | portfolio institutional | 3
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
