Fitch Ratings’ analysis of Europe’s five largest UCITS high-yield bond funds, with combined assets of €43bn at the end of March 2019, revealed that all these funds offer daily liquidity but their holdings of highly liquid securities were limited, indicating significant liquidity risk. On average, only 4% of their investments were in cash and only 14% in instruments rated ‘A’ or above, with ‘AAA’ instruments having the lowest allocation.
Swiss Re has suspended its initial public offering (IPO) plans for the British life insurer ReAssure, due to heightened caution and weak underlying demand in the UK primary market from large institutional investors.

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L'AGEFI's yearly international gathering for top-level institutional investors

October 10th and 11th 2019

Intercontinental Opéra | Paris