12042016Sun
Last update: Sun, 04 Dec 2016 07pm

Australia

Markets - Fixed Income - Australia

Australia pension fund Hostplus upbeat on credit, shuns govt bonds SYDNEY: Australian pension fund Hostplus is keen to invest in credit, property and infrastructure, but sees no value in sovereign bonds, its chief executive said on Friday. David Elia, CEO of Hostplus which manages A$22 billion ($16 billion) of assets, said the balanced fund's credit exposure rose to 6 percent from none in 2009, but it holds no sovereign bonds.Elia is particularly keen to lend directly to middle-market companies in the United States and Europe in the face of tighter bank lending standards after the global financial crisis.Hostplus is also keen to invest in unlisted infrastructure and real estate assets, which combined account for around a quarter of the portfolio, due to the fund's strong tolerance of illiquid assets.The chief executive, however, has little patience for fees charged by some external fund managers, having recently ended a 12-year-old partnership with a US hedge fund because of weak returns."Private equity managers ...

Markets - Fixed Income - Australia

Rising rents in Sydney matched by increase in homeless SYDNEY: An informal "street count" by staff of City of Sydney council and volunteers has identified 486 homeless people sleeping rough in the inner city, the highest figure since the initiative was launched in 2010. "This is a tragic situation and I am deeply saddened by the dramatic rise in numbers," Lord Mayor Clover Moore said in a statement."We all know Sydney is in the grip of a housing crisis, and now even middle-income earners ...

Markets - Fixed Income - Australia

Yields rise on manufacturing data, Fed's Fischer notes on inflation NEW YORK: US Treasury yields rose on Thursday, reversing earlier bond strength, after a manufacturing survey showed economic improvement and as Federal Reserve Vice Chairman Stanley Fischer cited rising inflation and wage pressures.Treasuries have rallied in recent weeks as a weaker-than-expected March employment report and other data pointed to slowing growth that is expected to keep the Fed on hold for longer.Investors have also been reluctant to have large exposure to the bonds, however, on ...

Markets - Fixed Income - Australia

Japanese demand feeds Kangaroo spree SINGAPORE: The retreating Australian dollar and the resumption of monetary easing have yet to dampen offshore demand for Kangaroo bonds. Japanese investors, in particular, are turning to Australian dollar debt in the hunt for yield.The elevated international bid has contributed to a sharp increase in Kangaroo offerings from sovereign, supranational and agency issuers, with IFC, Rentenbank and Kommunalbanken among those in the market again last week.So far this year, SSA issuers have raised A$8.6bn (US$6.7bn), ...