|
By Eduard von KYMMEL, Head of VP Fund Solutions
Secondaries can have an excellent risk-adjusted return profile and defensive characteristics while offering attractive long-term returns. Nevertheless, there are some specifics that need to be considered in order to take full advantage of this asset class.
Background
Investors are confronted with a historically difficult macro environment, with significant headwinds in various asset classes, which in turn has a significant impact on return targets. Interest rates are at an unprecedentedly low level, resulting in tight yields for the safest investments and a significant primary risk for fixed income returns. Stock markets,...
|