Structured products
Claymore and Delta offer shipping exposure
Claymore and Delta have listed a new exchange-traded fund (ETF) on the Arca platform of the New York stock exchange which exposes investors to shipping equity. The fund is linked to the Delta Global Shipping Index, which reflects the performance of…
Investec unveils inflation product in release of third series
Investec Structured Products has released its third series of plans, including an inflation-linked product and its latest issues in the accumulation and investment categories. In total, Investec has devised four categories for its product offerings,…
NDFA offers income with tax incentives
NDFA has launched two structured products which offer tax efficiencies by allowing the investor to buy preference shares in an offshore wrapper. Consequently, basic rate taxpayers receive non-UK dividends tax-free, while higher-rate tax payers have had…
Morgan Stanley builds access to global infrastructure for retail
Morgan Stanley has released five capital-protected structured products offering exposure to themes including global infrastructure and UK commercial property. These products follow an 85% increase in uptake since the last retail offering in May.
Arc creates watershed with H2O plan
Arc Capital & Income has unveiled the six-year Arc H2O Plan, its first utility-based investment linked to water. The plan is based on the S&P Global Water index, offering 1.25 times the rise in the index with no cap. Return is calculated according to the…
Deutsche launches Asian inflation index
Deutsche Bank in Singapore has launched the db Asian Inflation Proxy index, which is designed to hedge inflation in the Asia ex-Japan region, as measured by the International Monetary Fund’s (IMF) GDP PPP-weighted Asian inflation index. The index can be…
MSCI offers GCC and Arabian exposure
Index provider MSCI Barra has launched four new indexes as part of its MSCI Gulf Cooperation Council (GCC) countries and Arabian Markets indexes family. The new indexes are designed to underlie financial instruments such as structured products and ETFs.
IFAs opt to increase portfolio allocation to structured products
Over 88% of independent financial advisers (IFAs) have decided to increase their structured products allocations for client portfolios during the next year, according to a recent survey conducted by Keydata Investment Services. The telephone poll, which…
Barclays Wealth releases range of growth and income products
Barclays Wealth has launched a suite of structured products designed to offer growth, income or the ability to recoup previous capital losses. The range is available between September 1 and October 31.
Actinver offers Mexican investors US financials
Mexican distributor Actinver is offering local investors Financial Rebound Callable Notes, providing exposure to a basket of US financial stocks.
Meteor launches latest Prima Growth Plan
Meteor Asset Management has released its Prima Growth Plan 9, a six-year plan linked to the FTSE 100 index. The plan offers two options: the first option provides 14% after the first year, as long as the index is at or above its opening level. If this…
Romanian wind farm to be largest in Europe
European utility giant CEZ Group has bought two adjacent wind farms in Romania from Eastern European renewables developer Continental Wind Partners (CWP).
FSB raises concerns about South African hedge funds
In its efforts to licence the country's hedge fund managers, the South African Financial Services Board (FSB) has found problems with mandate compliance, levels of professional indemnity cover and the use of external business partners.
Slowing economy hits inflation markets
Poor economic prospects and falling commodity prices have changed the face of inflation markets around the world, easing the shortages that constricted them earlier this year.
Meagre $5bn profit for US commercial banks, says FDIC
Federally insured US banks posted total profits of just $5 billion for the second quarter of 2008, an 87% drop on the $31.8 billion earned over the same period in 2007 and the second-worst earnings results since 1991.
FGIC in MBIA reinsurance deal
Financial Guaranty Insurance Company (FGIC), the New York-based monoline insurer, has signed a reinsurance deal with MBIA, the Armonk, New York-based monoline. The deal, which sees MBIA reinsure $184 billion of municipal bonds, was overseen by the New…
Banks' latest ARS settlement falls short
Merrill Lynch has agreed a $7 billion settlement with its auction rate securities (ARS) customers, but the deal leaves the larger purchasers uncovered, as did a similar settlement at Goldman Sachs.
Canadian ABCP restructuring faces last hurdle
Efforts to restructure C$32 billion ($30.6 billion) of Canadian asset-backed commercial paper (ABCP) moved closer to a resolution on August 18, when the Ontario Court of Appeal unanimously dismissed the claims of a group of corporate investors that…
Lone Star to buy KfW’s stake in troubled IKB
A conclusion was reached last week for one of Germany’s recent banking crises as Texas-based private equity firm Lone Star agreed to purchase KfW Bankengruppe’s (KfW) stake in struggling IKB.
Foreign banks face $475 billion subprime losses
Although banks such as UBS have reported massive subprime-related writedowns in the early stages of the mortgage crisis, European banks are not over-represented in the subprime market, according to research published by the US Federal Reserve.
CEIOPS seeks views on supervisory review
Daily news headlines
New ETNs offer exposure to professor’s method
Deutsche Bank has listed three new exchanged-traded notes (ETNs) on the Arca platform of the New York Stock Exchange (NYSE). The Elements notes will be linked to the performance of the Benjamin Graham Intelligent Value Indexes.
Lehman launched version six of Enhanced Returns Plan
Lehman Brothers has launched the sixth version of its enhanced returns plan. The product comes with both three and five-year options and is linked to the performance of the FTSE 100 index. Potential return rates are the highest so far in the series, with…