Structured products
Lyxor to list five ETFs on SGX
Lyxor International Asset Management (Lyxor AM) will launch five exchange-traded funds (ETFs) on the Singapore Stock Exchange (SGX) on November 5, with a focus on Asia and commodities. The Lyxor ETF MSCI Asia Apex 50 will be the first ETF to track the…
Barclays Capital builds up indexes after Lehman acquisition
Barclays Capital has rolled out the re-branded version of the Lehman Brothers index platform that it acquired as part of its takeover of the now defunct US investment bank. Barcap has confirmed that the calculation of the indexes will continue as before,…
Barclays releases Guaranteed Deposit Accounts for offshore bonds
Barclays Capital has launched two deposit accounts as the latest in its structured deposit series for offshore bonds. The five-year Guaranteed Arabia Titans 50 Deposit Account provides exposure to 50 leading Arab stocks, represented by the Arabia Titans…
Carbon and waste ETFs hit Euronext Paris
EasyETF listed both low carbon and global waste exchange-traded funds (ETFs) on NYSE Euronext today. The EasyETF Low Carbon 100 Europe offers investors exposure to 100 blue-chip European companies that have the smallest carbon footprint relative to their…
Direxion burst into ETF market with eight leveraged ETFs
Direxion, a provider of alternative investment strategies, has entered the exchange-traded fund (ETF) arena with eight leveraged bull and bear ETFs, offering 300% leveraged exposure. The Direxion Shares 3x ETFs provide 300% of the daily performance, or…
RBS announces further credit market hit
Royal Bank of Scotland (RBS), one of three British banks to receive capital injections under a £50 billion government bailout package, on Monday announced writedowns of £206 million of credit assets in the third quarter, following £5.9 billion of…
UK government sets up investment manager
Daily news headlines
SG takes a €370m hit on exotics and €447m loss on Lehman in Q3 2008
SG Corporate & Investment Banking reported a 14.3% increase in equity flow business over the third quarter of 2008, compared to the same quarter of 2007; also a 17.4% increase on the previous quarter. “However, structured products were penalised by an…
Morgan Stanley launches four new plans for UK
Morgan Stanley has launched four new structured products for UK retail investors including three protected growth plans and a capital plus plan.
HSBC launches government-guaranteed steepener in US
HSBC has launched a new rates-linked certificate of deposit (CD) in the US. The deposit product lasts 15 years and is linked to the spread between 30 and five-year constant maturity swap (CMS) rates.
Keydata International releases Renewable Energy Fund
Keydata International has launched its Renewable Energy Fund, offering returns generated by the development and operation of a range of small-scale Renewable Energy Power Plants (Repps) across Europe, covering the UK, Germany, Italy, Sweden and Spain.
Close of Constellation credit facility extended
Constellation Energy’s credit facility with UBS and RBS will now close on 26 November 2008 with commitments from the banks expected to total between $1bn and $1.25bn.
November target for CDS central counterparty
Dealers have pledged to the Federal Reserve Bank of New York to begin using a central counterparty for clearing credit derivatives by the end of November.
Bernanke: covered bonds "attractive" replacement for GSEs
Government-sponsored enterprises (GSEs) could be replaced by a US mortgage-backed covered bond market, Federal Reserve chairman Ben Bernanke suggested on Friday.
Hedge funds harness volatility in turbulent markets
Trading volatility can help hedge funds to diversify their portfolios and generate alpha in a challenging market. Kris Devasabai and Stephen Quigley report on the strategies employed by volatility traders and its emergence as an asset class
ABL strategy rocked by US fraud case may mean greater demand for due diligence
One of the better-performing strategies this year has been asset-backed lending. In the US an investigation into alleged fraud that has severely impacted some hedge funds using the strategy has knocked investor confidence. Stephen Quigley talks with…
Investors' interest intensifies in hedge funds as countries compete for business
With vast sums looking for attractive investment opportunities, the Middle East is ripe for hedge fund development. While there are significant challenges still to overcome, liberalisation and the development of viable financial service centres are…
Hedge fund industry looks set to grow as Benelux improves regulations and laws
While the Benelux union of Belgium, the Netherlands and Luxembourg does not offer a common solution for hedge fund marketing or establishment, there are opportunities to attract investment to funds and expand the industry. Jamie Wynn-Williams reports
CTAs find a profitable course in risky waters
CTA/managed futures funds have been the top performers in the hedge fund world this year. US Editor Kris Devasabai and reporters Stephen Quigley and Jamie Wynn-Williams analyse the risks facing the funds and investors in a volatile market
Indices offer diversification for portfolios
As an asset class, commodities demonstrate unique characteristics that make them useful for portfolio diversification. Often seen as too risky for investors, the use of an index gives exposure and diversity with a lower risk element. Jamie Wynn-Williams…
Hedge funds fill gap left by lack of bank-based trade financing
As avenues of traditional trade finance have dried up as a consequence of the banking crisis, hedge funds have seen an opportunity. Jamie Wynn-Williams reports
Shipping fund tames stormy waters to provide rewards for investors
The success of M2M Management is challenging long-held preconceptions about investing in the volatile shipping market. US Editor Kris Devasabai talks to the company's joint managing directors about its extensive experience and its investment strategy