Sovereign risk is reflected in returns on credit default swaps (CDS) ◦ in a factor analysis we find little influence of the usual fundamentals, instead we find that the single most important explanatory variable is simply an indicator of whether or not the economy is designated as an emerging market.
Expertise > Asset Management
Investment strategies aiming for diversification ask for a broader approach including a view on Asian markets and global inflation.
Marlene acted as Head of Investment Strategy and Financial Market Analysis at the Swiss National Bank and served as a member of the SNB investment committee. She specialized in inflation analytics and Asian markets and is a regular speaker at investment conferences and board meetings for public and private sector financial institutions.
Advisory work and seminars for asset managers at central banks ◦ regular speaker at investor conferences ◦ covering level, composition and framework of reserve management ◦ special focus on inflation linkers and Asian bonds
developed and implemented best practice models in Strategic Asset Allocation (SAA) for bonds, equities and currencies ◦ specialised on investment strategies based on the identification of long-term trends in inflation, credit and business cycles ◦ headed and worked in internal and international working groups on financial market topics
The investment committee oversaw SNB’s currency reserves, a CHF 250bn AuM multi-asset and -currency reserve portfolio at the time.
Research on the challengs of diversification before and after the financial cirsis.
Coordination of the Asian Bond Fund (ABF) initiative by EMEAP at BIS Asset Management in Hong Kong ◦ contacts to Asian financial institutions and private sector asset managers ◦ knowledge of fixed income benchmarks, differences in pricing sources, and local trustee/custodian and financial market regulations
As Regional Adviser and Asset Management Representative at BIS in Hong Kong, Marlene coordinates the Asian Bond Fund (ABF) initiative by EMEAP.