NEW YORK, Feb. 16, 2011 /PRNewswire/ -- Credit Suisse today announced the release of the first quarter 2011 edition of the "Asset Management Alternatives Quarterly(1)," a thought leadership series offering investors authoritative insight on economic trends and capital markets around the world.
With perspectives spanning a wide spectrum of asset classes and investment styles, the Q1 2011 edition features articles by Stefan Keitel, Managing Director and Global Chief Investment Officer at Credit Suisse for Asset Management and the Private Bank, as well as contributions from Credit Suisse Asset Management's leading alternatives portfolio managers.
In his yearly outlook, Mr. Keitel says that "favorable macroeconomic and fundamental factors point to a mostly positive risk/reward ratio for 2011. However, the moderate reacceleration of the world economy, the still attractive valuations of risky assets in general—and equity markets in particular—the strong corporate sector, and the continuation of accommodative policies by developed nations' central banks might be disrupted by episodic bursts of heightened risk aversion."
Other key themes covered in the Q1 2011 issue include:
- Distressed credit managers anticipate that the continued deleveraging of bank balance sheets globally will likely be a prominent area of focus in 2011, especially in the Eurozone.
- There may be an acceleration of global M&A in 2011, with increased cross-border activity enlarging the opportunity set. An abundance of capital-rich buyers and unwilling sellers may result in a special focus on strategic transactions and hostile situations.
- Macroeconomic divergence between developed economies and emerging markets may lead to relative value trading opportunities in 2011.
- Fundamentals should generally improve for commodities in 2011. The structural shift in demand from developed economies to emerging markets is expected to support the asset class over the long term.
- Private equity investment activity more than doubled in both the US and Europe from 2009 to 2010, driven partly by the improved lending environment and record high-yield bond and leveraged-loan volumes.
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(1) The Asset Management Alternatives Quarterly was formerly known as the Asset Management Tactical Quarterly.
SOURCE Credit Suisse AG