Structured products
Zurich launches latest Guaranteed Account
Zurich, the insurance-based financial services provider, has released the latest Guaranteed Capital Account in its series. The Zurich Guaranteed Account 20 offers 120% of any growth in the FTSE 100 index over the five and a half-year term and returns 100…
No respite for Lehman after loss warning
Chief executive Richard Fuld’s plan to rescue Lehman Brothers by selling off many of its operations has failed to stem a fall in market confidence, after the bank predicted record losses in the third quarter of this year.
JP Morgan launches Confidence notes in Singapore
JP Morgan in Singapore has launched the JP Morgan AsiaConfidence Notes Series 3, which is designed to give exposure to the performance of four Asian equity markets comprising China, Hong Kong, Singapore and Taiwan.
Lyxor offers China volatility play
Lyxor Asset Management in Hong Kong has launched the China All Weather Guaranteed Fund, which is designed to provide exposure to the absolute performance of the Hang Seng China Enterprises Index (HSCEI).
SG Excels with ETFs
Société Générale Acceptance has launched the SG Excel Notes Series 37, which is designed to provide exposure to the economic development of China and Hong Kong through three ETFs.
Fannie and Freddie CDS to settle at October auction
The auction process to settle credit default swap (CDS) contracts written against Freddie Mac and Fannie Mae will take place in the first week of October, Risk has learned, although losses on the agreements are likely to be minor for most counterparties.
Ratings down and defaults up at Moody's
New York-based ratings agency Moody’s Investors Service reports downgrades in derivatives outlooks and increases in defaults.
Abbey launches Guaranteed Capital Plus and Guaranteed Growth
Abbey has launched its Guaranteed Capital Plus Plan issue 4 along with its latest Guaranteed Growth plan issue 17.
Natixis snares hedge fund replication index licence
Natixis Investment Bank has obtained a licence to use the IndexIQ hedge fund replication index to create multiple structured investment products for institutional and retail investors across Europe and Asia.
Update: Merrill lists hedge basket inverse tracker certificate on DIFX Trax
Merrill Lynch has listed a 10-year Gulf Cooperation Council hedge basket inverse tracker certificate on DIFX TraX, the structured products platform of the Dubai International Financial Exchange.
Fitch nears end of global CDO review
Almost a year on from its global collateralised debt obligation (CDO) ratings embargo, Fitch Ratings is months away from determining the final status of ratings on hundreds of corporate CDOs.
Dow Jones Indexes licensed to Commerz to underlie ETFs
Dow Jones Indexes and Stoxx have licensed a range of indexes to Commerzbank, to underlie 22 exchange-traded funds (ETFs) listed on the Deutsche Boerse. The licensed indexes comprise the Dow Jones Euro Stoxx 50, Dow Jones Euro Stoxx Select Dividend 30,…
ETF AUM to surpass US$1 trillion in 2009, iShares
Global assets under management for exchange-traded funds (ETFs) will surpass US$1 trillion in 2009, according to iShares, which also expects European ETF AUM to rise above US$200 billion.
Financial recovery structured fund offered to Malaysian investors
CMS Trust Management in Malaysia has launched its first structured fund, aimed to offer investors exposure to bottomed-out financial stocks. The fund has been launched in partnership with OCBC Bank, and will only be available at the bank’s 29 branches.
Sterling Waterford launches Carbon Credit note in South Africa
Sterling Waterford Securities has listed its second Carbon Credit Note on the Johannesburg Stock Exchange. The note offers investors exposure to the price of Certified Emission Reductions which are part of the Kyoto Protocol Clean Development Mechanism.
CPDOs under review as Moody’s announces further error
New York-based ratings agency Moody’s Investor Services announced on September 4 it might downgrade several constant proportion debt obligations (CPDOs) after discovering another error in its securities monitoring.
Quantum leaps into re-brand after Dawnay Day buy-out
Dawnay Day Quantum has re-branded itself Quantum Asset Management following the management buyout (MBO) that took place on August 27. The board and employees of the UK distributor now own 100% of the business’s equity after purchasing the stake…
BGI appoints Fuhr global head of ETF Research and Implementation
Barclays Global Investors (BGI) has appointed Deborah Fuhr as global head of exchange-traded funds (ETF) Research and Implementation Strategy, in a newly created role effective from September 15. Fuhr will also occupy the position of a managing director,…
US authorities step in to rescue GSEs
The US Treasury and Federal Housing Finance Agency (FHFA) announced on Sunday details of a rescue plan to place the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac into government conservatorship.
NDFA delivers tax benefits with latest income product
NDFA has released its latest Regular Fixed Income Plan September 08, offering favourable tax treatment on non-UK dividends.
China displaces UK in top five countries for renewables
China has moved into the top five most attractive countries for renewables investment, knocking the UK to sixth place, according to an Ernst & Young survey. The Energy country attractiveness indices, published by E&Y every quarter, look at a country’s…
Merrill raises the Mast for cross asset class exposure
Merrill Lynch has created Mast, a Multi Asset Strategy index based on investments across fixed income, currencies, commodities and equities. The asset classes are respectively represented in the index by Merrill’s 10-year US Treasury Futures Index (total…
Slowing inflation weakens structured note demand, Barclays Capital
Falls in the price of oil have weakened demand for inflation-linked structured notes, says Benoit Chiqrui, director of inflation trading at Barclays Capital in London. The recent US$40 fall in prices has caused inflation worries to fade along with demand…
Keydata delivers latest Dynamic Growth plan
Keydata Investment Services has launched the latest tranche of its Dynamic Growth Plan Plus issue 11, a six-year plan linked to the FTSE 100 index offering two investment options for the first time. The options are designed to address the needs of…