RESEARCH
The Babson Capital Staff Letter -4th Quarter 2009
January 13, 2010
Markets Rebound But Headwinds Remain. 2009 was a year of turnaround for the fixed income markets. The asset classes that fell the most in 2008 performed the best in 2009; high yield bonds and loans led the pack with returns above 50% for the year and commercial mortgage backed securities and asset backed securities returned over 20% actually beating the S&P 500 by a few percentage points. The year ended well with the fourth quarter exhibiting decent performance, though the second quarter was the star.
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SPOTLIGHT
Global, Full Service Real Estate Platform Created Through Integration of Cornerstone, Babson Capital Real Estate Finance Group and Protego Real Estate
November 19, 2009
Cornerstone Real Estate Advisers LLC and Babson Capital Management LLC announced today that they will integrate Babson Capital’s Real Estate Finance Group (REFG) into Cornerstone effective in the first quarter of 2010. Additionally, Cornerstone announced its pending acquisition, subject to certain approvals, of London-based Protego Real Estate Investors LLP, Protego Real Estate Investors Finance LLP and their subsidiaries (Protego), which establishes Cornerstone’s presence in the European market. With these moves, Cornerstone will become one of the world’s largest real estate investment advisors.
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