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Alternative Market Briefing

Only few opportunities left in mortgage market - Ayaltis

Monday, December 03, 2012

Ernesto Prado
From Precy Dumlao, Opalesque Asia:

A good number of high risk premium asset class managers benefited when Federal Reserve Chairman Ben Bernanke started the next round of QE3. QE3 lifted the equity markets to more than 15% so far this year and helped deliver "QEsubsidized" performance, said Ernesto Prado Ayaltis, a boutique fund of funds, during the recent Opalesque 2012 Zurich Roundtable.

The Zurich Roundtable took in the offices of our series sponsor Eurex; it was also sponsored by IDS Funds Services and Taussig Capital.

Without the latest QE, fund managers would not have seen such gains neither for corporate bonds nor for equities, Prado explained, "for that reason, during the next couple of years, we prefer to invest into the lower risk premium assets while still trying to anchor ourselves as close as we can to the printing power of Bernankes and other central bankers printing presses - the same mortgage asset classes we targeted since December of 2008 and which have strongly helped our returns be fantastic."

In September, Bernanke announced a third round of quantitative easing, or QE3. It included a plan to purchase $40bn of mortgage-backed securities per month. ......................

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