Banks

TwentyFour Asset Management's annual conference took place virtually for the second year running on September 15 & 16, with hundreds of attendees tuning in live for interactive sessions with TwentyFour's portfolio management team. All the insights from the Multi-Sector team are now available

We agree that banks are sitting with an abundance of excess capital and will use some of it to repay shareholder support. However, capital buffers will remain elevated for some time to come,

In TwentyFour's Multi-Sector Bond update on Thursday 13th May 2021, Partner & Portfolio Manager Eoin Walsh provided an update on investment themes and positioning in the fixed income market.

Additional Tier 1 bonds, or AT1s for short, are part of a family of bank capital securities known as Contingent Convertibles or ‘Cocos’. They are bonds issued by banks that contribute to the total level of capital they are required to hold by regulators.

Having been at the heart of the GFC and then contributing to the Eurozone sovereign crisis, we have long argued the European banking sector would have to prove its newfound resilience to investors by successfully navigating a challenging period.

What is most interesting about the CS situation though is that to us it illustrates the ability of large banks to bolster capital when such events occur, and the range of options they have to do it.

ESG conscious investors, ourselves included, of course, are applauding this brave decision by Barclays to put their conscience before profit, but they are not the first to do so.

George Curtis discusses how credit markets have performed in Q1 2021 and provides his outlook for the year ahead.

In this virtual session, Partners & Portfolio Managers Gary Kirk & Gordon Shannon will share their views on the current opportunities within financials.

The Bank of England have just added to the debate about how much of the recent surge in savings will be deployed in the form of consumption as we return to ‘normality’.

George Curtis discusses credit markets in Q4 2020 and provides his outlook for the year ahead

After a tumultuous 2020 which nonetheless delivered strong returns in many asset classes, fixed income investors are expecting a more normalised trading environment in 2021.