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Until now, UK house prices had benefited from nearly three decades of decline in the risk free real interest rate. A 2019 working paper from the Bank of England predicted that “a 1% increase in real interest rates that was persistent could move real house prices by just under 20% across many years”.
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The Ministry of Defence has selected a preferred bidder to build support ships for the Royal Navy, with a contract that aims to create 1,200 UK shipyard jobs, hundreds of graduate and apprentice opportunities, and an expected 800 further jobs across the UK supply chain.
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Dr. Christian Adler, Co-founder and Director, Astra Asset Management
The now infamous mini-budget announced by former Chancellor of the Exchequer Kwasi Kwarteng on 23rd September 2022 sent shockwaves in financial markets, as investors balked at the complete lack of funding details to support tax cuts.
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LONDON, United Kingdom, 9th November 2022 – Astra Asset Management, a leading European alternative credit manager and private credit manager, has been selected as the exclusive financing partner to Harland & Wolff.
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Albertus Rigter, Partner , Astra Asset Management
Investment Chief, Vincent Mortier brings up a really interesting point on hidden leverage in the financial system today. The recent volatility in Gilts and the Liability Driven Investments (LDI) caused margin calls for pension funds when gilts started falling in value. Away from the crisis at hand, the article talks about leverage in the private markets.
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Anish Mathur, Founder and Chief Investment Officer, Astra Asset Management
Since the global financial crisis upended the markets in 2007/8, there has been a singular commitment by central banks and governments, at least in the West, to prop up the economy by any means possible.
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With thanks to our friend Keith Pangretitsch at Relevance Wealth
The most recent market fluctuations have returned attention to tail risk managers. Mark Spitznagel, a Nassim Taleb prodigy, posted a 4,144% return in March. Nassim Taleb is the famous author of several books including Black Swan, Fooled by Randomness and Skin in the Game.
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We thought it would be interesting to issue our first blog with a question we received from an allocator. The question concerned how we compare the current crisis to the one in 2000 and 2008, and what data sources we use to construct our view on the cycle.