Structured products
iShares launches two new ETFs on the London Stock Exchange
iShares, the Exchange Traded Fund (ETF) arm of Barclays Global Investors, has launched two new ETFs on the London Stock Exchange (LSE) including the first emerging markets bond fund in Europe. The ETFs were formally listed on the LSE today.
Deutsche Bank lists first ETFs tracking frontier markets
db x-trackers, the Exchange Traded Fund (ETF) arm of Deutsche Bank, has listed in London the first two ETFs tracking the frontier markets. The two funds offer exposure to the new emerging countries by tracking the FTSE Vietnam index and the S&P Select…
Man aim high with Stratum Notes
Hedge fund provider Man Investments has launched the Man AP Stratum Series 2, index notes which reference over 50 hedge funds selected by Man Global Strategies (MGS) and the futures investment scheme, the AHL Institutional Programme.
Norway tightens rules on retail structured products
Norway’s Financial Supervisory Authority (FSA) has tightened rules regarding the sale of structured products to retail investors. The revised regulations are an attempt to prevent financial institutions selling complex instruments to retail investors,…
Natixis losses top €1 billion
Paris-based investment bank Natixis has announced a €1.1 billion writedown, as a result of the global credit crisis due to US subprime mortgages.
Crédit Agricole Asset Management creates in Australia
Crédit Agricole Asset Management Group (Caam Group) has created a wholly owned subsidiary - Crédit Agricole Asset Management Australia (Caam Australia) – following the opening of a rep office in Sydney in early 2007. The group has been created to cover…
US regulators reveal plan to split monolines
Monoline insurers could be split into two separate entities under plans being considered to stave off further credit rating downgrades of the troubled municipal bond guarantors.
Credit Suisse contains credit crisis impact
Zurich-based Credit Suisse has unveiled a lower than expected Sfr1.3 billion writedown on leveraged finance, and structured debt and mortgage investments in the fourth quarter of 2007.
Monolines show no appetite for Buffett
Warren Buffett’s plan to reinsure wrapped municipal bonds has been given short shrift by monoline bond insurers.
Hervouet to head commodities for BNP Paribas in Asia
Frederic Hervouet has been appointed as head of commodity investor derivatives (CID) Asia for BNP Paribas, reporting to Lionel Semonin, global head of CID. The position is a new one for the bank, reflecting the extension of the bank's business to include…
Pioneer appoints Madar for France and Benelux distribution
Pioneer Investments has named Fabian Madar as general manager of its Paris-based French operation, with responsibilities for distribution into Belgium, Luxembourg and Monaco. Madar, who will report to Sandro Pierri, region head of South Europe and Latin…
AIG admits errors in credit loss estimates
American International Group's (AIG) writedowns on its US subprime exposure were more than triple the original estimate, it emerged yesterday.
Société Générale Asset Management launches three ETFs on Borsa Italiana
SGAM Alternative Investments (SGAM AI) has launched three ETFs linked to the S&P MIB index traded on the Borsa Italiana. Two of the ETFs offer a bear strategy, providing reverse exposure to the variation of the S&P MIB and are the first bear ETFs…
RBC names Morotti to head equity structured product trading
Franck Morotti has joined RBC Capital Markets as head of equity structured product trading, Europe. The appointment is the first in a series of hires marking the company’s expansion in both equity and mutual fund derivatives.
Société Générale reshuffles its Global Equities and Derivatives Solutions Division
Société Générale has made the first move to restructure its global equities and derivatives team, in the wake of the multi-billion euro fraud which led to the removal from the bank of Luc Francois, the former head of global equity derivatives.
Premier Asset Management to launch its FTSE-linked growth plan
Premier Asset Management will launch its Premier UK Growth Plan, a six-year product linked to the FTSE 100 index. The plan has been designed to deliver an annual coupon of 16%, while providing 50% downside protection.
Investigators step up pressure on rating agencies
Criminal investigators and regulators in the US have increased the pressure on credit rating agencies, saying they were "central" to the subprime crisis.
SEC and EU start mutual recognition talks on exchange trading
Daily news headlines
Crédit Agricole Asset Management creates a new subsidiary in Italy
Crédit Agricole Asset Management (Caam) has unveiled its new organisational structure, following the joint venture between Intesa Sanpaolo SpA and Crédit Agricole.
HVB rolls out capital guaranteed structured fund
HypoVereinsbank (HVB) in Germany has launched a new open-ended structured fund with a capital guarantee. The fund is linked to the performance of the DJ Eurostoxx 50 and offers investors up to 45-55% returns over the first five years.
Unicredit launches first Polish product as secondary market swells
Unicredit group is introducing its first listed certificate in Poland. The launch comes as The Warsaw Stock Exchange (WSE) announces record trading figures for structured products throughout January, up 174% from the previous all-time high in November…
S&P launches ESG India index
S&P, risk advisory firm Crisil and social and environmental research firm KLD Research and Analytics have launched the S&P ESG India Index, which comprises companies whose business strategies and performance demonstrate a high level commitment to meeting…