• FT: ECB needs to be original on tapering

    March 22nd 2017

    The Fed is on a clearly flagged path to reduce stimulus, with at least two more rate rises to go this year. But if normalisation was difficult to start for Janet Yellen, Mario Draghi faces three policy dilemmas that make a tightrope walk look easy.

    The eurozone has consistently beaten growth expectations over the past quarters. Yet under the hood there is a two-speed recovery in growth and inflation among its members. Core countries are leading together with Ireland and Spain, who have been early on reforms — while France, Italy and Portugal remain behind. Armed with mostly one-size-fits-all tools, the ECB will need extra skill to withdraw stimulus and keep the eurozone together.

    Click here to view the full article. 

    Alberto Gallo is Head of Macro Strategies and Partner at Algebris Investments, and Portfolio Manager for the Algebris Macro Credit Fund (UCITS).

  • Bloomberg: Serra Sees Fed on Slow, Steady Rate Path

    March 17th 2017

    Davide Serra discusses expectations for the IIF G-20 meeting in Germany, the Federal Reserve raising interest rates, and the future of European Central Bank monetary policy. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)

    Click here to view the interview.

  • FT: Why the eurozone will defy sceptics in 2017

    February 12th 2017

    “Europe is just uninvestable" says a fund manager at a dinner in Mayfair, "with [Marine] Le Pen in France and Brexit, there is just too much political risk." The others in the room nod, in silence.

    The case for investing in the eurozone has never been harder to make than in 2017. The forthcoming calendar indeed looks like a political minefield. Anti-euro candidates are gaining ground in the Netherlands and France. The UK is about to start its Brexit split, while Greece's Syriza government is struggling to agree on a deal with creditors. Against this backdrop, investors often decide to give up on Europe altogether. We have not.

    Click here to view the full article.

    Alberto Gallo is Head of Macro Strategies and Partner at Algebris Investments, and Portfolio Manager for the Algebris Macro Credit Fund (UCITS).

     

  • Precisazioni sull'articolo del Corriere della Sera:'Ora l'innovazione finanziaria spaventa l'Europa'

    January 11th 2017

    All’inizio di gennaio, Il Corriere della Sera ha pubblicato un ampio articolo dal titolo “Ora l'innovazione finanziaria spaventa l'Europa”, che abbiamo letto con grande attenzione.
    Rispetto a quanto riportato, abbiamo riscontrato alcune inesattezze che ci preme chiarire, poiché temiamo che si crei una percezione non corretta dello strumento dei Contigent Convertible bond, ingenerando preoccupazioni fondate su informazioni sbagliate.

    Trovate qui, punto per punto, alcuni chiarimenti che confidiamo possano permettere una corretta comprensione dei CoCo bond, nell’interesse del mercato e di tutti gli investitori.

  • Bocconi University Lecture: Escaping the QE Infinity Trap

    December 16th 2016

    Alberto Gallo, Partner and Portfolio Manager at Algebris Investments, presented at the Bocconi University a lecture on "Escaping the QE Infinity Trap".

    To view the presentation please click here

  • FT: Turning Europe from a good trade into a good investment

    September 7th 2016

    Quantitative easing is broken.

    Central bankers have fought the crisis with low interest rates and asset purchases. This playbook has worked in the US but failed in Europe and Japan, due to their bank-centred financial systems and ageing demographics.

    Today, there are signs that central bankers are growing increasingly uncomfortable with this cycle of QE infinity and more aware of its collateral effects. The tide is turning, and I believe we will witness a radical shift in policy.

    Click here to view the full article.

    Alberto Gallo is Head of Macro Strategies and Partner at Algebris Investments, and Portfolio Manager for the Algebris Macro Credit Fund (UCITS).

  • QE Infinity: Are we heading into the unknown?

    August 26th 2016

    Markets are currently riding on the wave of uncertainty and speculation over whether the world's central banks will continue to pump in more and more cash into the economy though bond-buying programs known as quantitative easing (QE). But as we go deeper into the world of easy money from central banks, there are other areas of the economy that could see a knock-on effect.

    Click here to view the full article

  • Algebris launches Macro Credit Fund strategy designed for a world of negative rates

    July 11th 2016

    Algebris launches Macro Credit Fund strategy designed for a world of negative rates

    Algebris Investments (UK) LLP, a leading global asset management firm, is launching a Macro Credit Fund, managed by Head of Macro Strategies and Partner Alberto Gallo. The Fund will start trading on Tuesday, 19 July.

    Credit markets are at a multi-decade turning point. Private debt has outgrown GDP by four times since the 1960s, sustained by loose monetary policy. Yet monetary easing is becoming increasingly ineffective and is generating several collateral effects, including asset bubbles, resource misallocation and rising inequality. The result is a world of negative rates, reduced trading liquidity and increased economic and political volatility. To survive this volatility, diversification and flexibility are paramount. At the same time, investors have few options left to find positive returns in this world of QE-infinity.

    Click here to view the press release 

     

     

    For more information about the Algebris Macro Credit Fund (UCITS) please contact our Investor Relations Team on algebrisIR@algebris.com or Sarah Finley, Investor Relations, Direct +44 (0) 207 851 1741.