Mutual funds
BNP Paribas grew share of MMF Treasury repo over Q3
French bank accounted for 13% of traded volume as of end-September
Eurozone funds favoured US equities in Q2
Investment funds also bought up eurozone bank stocks
Credit Suisse traded most with top Pimco funds in 2019
Bank’s US securities arm conducted trades worth $639 billion over 12 months to end-March 2020
EU insurers’ fund holdings battered by Covid in Q1
Total asset portfolios declined 6% through Covid shock
Eurozone insurers dived back into bonds in Q2
Net purchases of debt securities amounted to €15.1 billion over Q2
Eurozone hedge funds put cash to work in Q2
Deposit and loan claims made up 20% of total assets in Q1
Eurozone funds charged into overseas debt in Q2
Net purchases almost reversed the first quarter’s fire sale
BlackRock's muni funds slow to rebound from Covid crunch
Cumulative returns have barely edged up for these funds since end-March
Short funds’ moment in the sun is over
DSB funds are in the red year-to-date after a spectacular performance through March
Margin calls on eurozone funds rose fivefold in March
ECB data shows some funds faced liquidity squeeze as VM calls flooded in
Bond managers relaxed ahead of bumper index rebalance
Fed’s credit facilities boost confidence as downgrades hit corporate bond indexes
Some quants fear more deleveraging to come
Buy-siders brace for further selling after hedge funds dumped risk in March
Eurozone real estate funds build equity holdings
Net purchases of equity hit €18.2 billion
EU funds loaded up on US debt in 2019
Net purchases of US debt up +962% in 2019
‘Fallen angels’ pose little threat to EU funds
Passive fund outflows in a credit crisis would put pressure on high-yield bond prices
EU insurers pile into loans, funds and private equity
Fund investments make up 12% of exposures as of Q3 2019
Ties between banks and non-banks at pre-crisis levels – FSB
Other financial intermediaries grow share of total financial assets to 30.5% in 2017
Growth of shadow banks slowed in 2018 – FSB
Funds susceptible to run risk make up 72% of narrowly-defined non-bank universe
SEC derivatives rule may lead to new products
Proposed VAR limit is expected to benefit risk parity and defined outcome strategies
EU funds buy €89bn of overseas debt in Q3
Net purchases year-to-date almost three times total transactions in 2018
Non-banks muscle in on UK financing
Non-banks account for 51% of total financial sector assets
Some EU funds leveraged more than 500% using CDS
1,337 funds held €387 billion of CDS notionals at end-2016
Fund ratings flip as 2008 losses fade from view
Over 90% of top-rated US equity funds have betas greater than one
Fund-linked structured products face extinction under FRTB
Global market risk capital standards carry sky-high charges for fund derivatives