| The credit outlook for 2009 |
Issue: 01 / 2009 |
| A continuing constriction in bank credit availability will induce governments towards further tinkering with the regulatory regime and perhaps some form of separation between banks and their bad assets. Certainly it is very hard to postulate any recovery in bank lending until such measures are taken, writes Ciaran Kane. |
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| The year of the great test: 2009 |
Issue: 01 / 2009 |
| There is a great urgency for decisive action on the key fronts of the Exchequer funding crisis (of which we write on Page 4), and the re-funding of the domestic banking system (see below). The task of restoring stability to both will take all of 2009, it is likely, at least. |
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| Upside in tech & resources most likely in latter half of 2009 |
Issue: 01 / 2009 |
| The perceived defensive qualities of both technology and resources stocks brought relative strength to these sectors in 2008, but this ‘strength’ proved to be very much the case in the first half of the year rather than the second as weak global economic fundamentals impacted both sectors. Gerry Hennigan, winner ‘Technology and Energy & Resources Analyst of the Year’ looks at the outlook for both sectors in 2009. |
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| Valuing insurance contracts at market |
Issue: 01 / 2009 |
| Adopting a market consistent approach to valuing insurance companies is a more objective way of allowing for risk. Using the market value equivalent for each liability should ensure that there is less scope for subjectivity and that the risks involved are being priced by the market rather than assessed by management as part of the valuation write Brian Morrissey and Marie Phelan. |
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| Venture capital and public to private activity set to increase in 2009 |
Issue: 01 / 2009 |
| Despite the fact that a more robust fundamental picture will not emerge for Irish corporates until 2010 opportunities are available for investors and strong Irish corporates in 2009. These will arise as liquidity improves, private company valuations become more realistic, the effect of lower interest rates are felt, and greater visibility around future earnings begins to emerge writes Jim Barry. |
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| Asset revaluation - challenges for property developers and others |
Issue: 12 / 2008 |
| The level of asset revaluations in the market has triggered serious issues for property investors, particularly where leveraging with third party financing is involved.
Michael Quinn looks at the difficulties faced and some of the options open to property developers and secured lenders alike. |
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| Background to the crisis - and the hedging implications |
Issue: 12 / 2008 |
| In an uncertain market there is a greater need for cashflow planning, budgeting, protection and certainty - and some hedging products provide flexibility which will tick all those boxes, says Criona Fitzgerald. |
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| Different approaches to fx exposure, as one size won’t fit all |
Issue: 12 / 2008 |
| Des Leavy of Ulster Bank sets out an approach to debt hedging strategies, and a forex exchange hedging strategy as the credit crisis continues to unfold. |
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| Exchange traded funds - opportunities for portfolio diversification |
Issue: 12 / 2008 |
| Brian Healy, and Niall Gibney review recent developments in Exchange Traded Funds and their role in portfolio diversification. |
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| Finance (No.2) Bill 2008 |
Issue: 12 / 2008 |
| While there are no VAT measures introduced in Finance (No 2) Bill 2008 which relate directly to the financial services sector, there are a number of measures which, when taken together, will have a subtle and material impact on the sector. In particular, additional VAT costs will arise for the sector together with additional compliance obligations and a new relationship with the Revenue Commissioners. |
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| Finance jobs: Q1 will be a challenge |
Issue: 12 / 2008 |
| In this latest FINANCEJOBS.IE symposium of leading recruiters’ assessments of the market, the first quarter of the new year is forecast to produce sharp jobs cuts, particularly in the domestic sectors, though 2009 may bring some respite further out. |
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| Foreign exchange hedge - a November case study by BOA |
Issue: 12 / 2008 |
| In this case study, based on rates and forecasts applying last month, Eric Ohayon of Bank of America highlights a tailored solution for a European corporation operating in EUR, and wishing to hedge against a dollar appreciation. |
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| Foreign tax credits and double taxation agreements |
Issue: 12 / 2008 |
| Successive Finance Acts have introduced measures that have improved Ireland’s attractiveness as a holding company location and as a gateway for international investment. Conor O’Brien examines some of the matters that still need to be addressed, if Ireland is to consolidate its position and seek out new opportunities in the face of increased competition and the global financial crisis. |
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| Has an effective UCITS management company passport finally arrived? |
Issue: 12 / 2008 |
| Brian Higgins looks at details of the soon- to-arrive UCITS management company passport. |
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| Irish property - back to basics |
Issue: 12 / 2008 |
| The Irish commercial property world has changed fundamentally. Whilst change was not totally unexpected, the extent and rapidity of the recent events has left market observers shell-shocked. The commonly held perception that property values only increase has been exposed as a fallacy. The performance of Irish commercial property in recent years has defied basic rational analysis. This period is over and unlikely to return, it’s back to basics.
Frank O’Neill considers how investors shall assess property investment in a changed investment climate and the impact of the new market realities on the relationship between landlords and tenants. |
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