AAM Featured in SNL Financial List of Top 20 Insurance Company Asset Managers
OCTOBER 8, 2011
AAM Sponsors the Chief Investment Roundtable at the IASA Annual Conference
JUNE 22, 2011
Atlas Announces New Investment Manager
MARCH 15, 2011
AAM Announces New Equity Ownership
AUGUST 2, 2010
AAM 2010 Investment Conference
MAY 18, 2010
Gregory D. Curran, CFA Joins AAM as Vice President of Business Development
SEPTEMBER 9, 2008
AAM Announces New Equity Ownership
JUNE 18, 2008
“The Electric Utility industry is facing several new regulations, which will likely change the composition of how electricity is generated in the U.S., particularly in the eastern half of the country. We highlight two companies we believe will capitalize on the opportunities created by the regulations and provide details on several of the rules proposed by the U.S. Environmental Protection Agency.”
There are two items which we expect to drive the performance of bonds issued by electric utilities in the next 12 to 18 months. The first factor will be how issuers capitalize on the changing regulatory environment, which is the focus of this article. The second issue, which will continue to drive performance, is the flight to quality trade. Should market volatility be greater than it has been historically, the electric sector and its constituents will likely outperform. Issues from electric utilities operating in relatively healthy regulated jurisdictions are considered a safe alternative in a turbulent investing environment. Conversely, if progress is made at solving the European issues (achieving austerity measure targets, avoiding potential sovereign defaults, circumventing the European banks’ need for substantial write downs of investments, etc.) and the domestic economy improves, the electric utility sector will likely underperform, as wider spread sectors outperform as shown in Exhibit 1.
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