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Bailey McCann, Opalesque New York: Long-only beta plays can still provide some opportunity for managers according to delegates at the recent Opalesque South Africa Roundtable. This opportunity is just one of many for investors moving in to 2015. "Conditions which precede crashes are not currently evident: yield curves are still
steep, real economies are picking up, specifically in the U.S, and there still seems to be a fair amount of commitment
by authorities to fight the deflationary threat and to stimulate economies, where they perceive a need," said Bradley Anthony, Head of Distribution & Product Strategy, Fairtree Capital of his outlook.
His points were echoed by Pieter Viljoen, Chief Investment Officer, Edge Capital. "Interest rates, both locally and offshore, are very low
compared to their long-term historical values. Volatility levels are still relatively low
although we do expect levels to increase in 2015. The low oil price and strong dollar
are strong headwinds for several emerging economies and this will be an
interesting space to watch in 2015."
Other strategies too may provide an expansion to the opportunity set including relative value, Anthony adds. On the commodities side, the global price plummet for oil as well as certain metals plays will likely make things interesting for all players.
"We think that correlations continue to break down.
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