Structured products
Hong Kong’s PCI sees opportunities in US, Europe synthetic CDOs
Hong Kong-based PCI Investment Management, which recently closed a $500 million Asian managed synthetic collateralised debt obligation (CDO), is in no hurry to market another synthetic CDO, but managing director Herman Fung reckons that there could be…
Declines in credit quality provide opportunities
In the current economic climate, there are opportunities for the debt market
Valuation process
Calculating an accurate NAV for certain hedge fund strategies is not as straightforward a process as some may believe
Building a real estate nest
The Phoenix Four portfolio focuses on real estate and real estate financial products in the US. Hedge Funds Review finds out what makes the fund tick
On the move
With forward planning and the help of a property consultant, moving office can be a hassle-free experience
Regulatory changes look set to prove pivotal for industry
The introduction of new regulations means a huge upheaval for Luxembourg's hedge fund industry, but the boost it will bring to the region will be worth it
Allocation to sector to rise as institutions show interest
The new year may bring much needed growth to this sector
The nextgeneration
Research suggests performance from new funds compares favourably with their seasoned counterparts, but how do investors go about spotting emerging talent?
Cad 3 - Against their will [full story]
Europe's asset management industry is chiding Brussels bureaucrats for trying to bury it under a mountain of Basel-inspired regulation, which could boost costs and capital charges.
Small firms welcome EU proposals
BRUSSELS - European investment firms welcomed the European Commission's decision to create a special regime for them in terms of the operational risk provisions of proposed new capital adequacy rules, according to trade bodies representing the firms.
Financial institutions must take lead in rebuilding public trust, says PwC
Financial institutions need to lead the way in improved transparency, but are uncertain about how best to improve their own standards of disclosure and governance, according to a study by financial services firm PricewaterhouseCoopers (PwC).
BNP to offer derivatives based on S&P Hedge Fund Index
BNP Paribas has been granted a licence by Standard & Poor’s (S&P) to deliver derivatives products linked to the S&P Hedge Fund Index. BNP is the first bank to be given permission to develop derivatives based on the index.
Europe's credit outlook remains bleak, says S&P
The most severe stage of the credit cycle may be over, but the creditworthiness of European companies and institutional borrowers will remain weak in 2003, according to rating agency Standard & Poor’s.
JP Morgan Chase and UOB Asset Management close $1.7 billion synthetic CDO
US bank JP Morgan Chase said today it has closed United Global Investment Grade CDO II, the largest synthetic collateralised debt obligation (CDO) managed by an Asian fund manager - Singapore-based UOB Asset Management. It is the second United Global…
JF Funds launches Hong Kong’s first retail hedge fund
Hong Kong-based fund manager JF Funds is launching a hedge fund targeted at Hong Kong retail investors, and is preparing to launch a second similar fund some time next year. The two hedge funds, JF Greater China Absolute Return Fund and JF Asia Absolute…
Fitch to investigate credit derivatives risk concentrations
Credit rating agency Fitch Ratings is concerned that the rapid growth and lack of transparency in the synthetic credit markets could be leading to alarming concentrations of risk with specific market participants.
MBIA and S&P join war of words with Gotham over reinsurer’s AAA rating
Jay Brown, chairman of US monoline reinsurance company MBIA, entered into a row with Gotham Partners Management yesterday over comments made in a report issued by the US hedge fund. Brown called the report, which suggested MBIA should lose its coveted …
BIS: OTC derivatives notionals rise 15% in the first half of 2002
The Bank for International Settlements said total notional volume of over-the-counter contracts outstanding increased 15% to almost $128 trillion in the first half of 2002.
Cal-Comp Electronics offers US dollar-denominated convertible bond
Thailand’s Cal-Comp Electronics has closed the country’s first US dollar-denominated convertible bond since the Asian financial crisis of 1997, said sole bookrunner SG, the corporate and investment banking unit of French banking group Société Générale.
France Telecom’s imminent €1.5bn bond hits spreads by 7bp
France Telecom’s plans to tap the bond market for the first time this year with a seven-year, €1.5 billion bond issue caused its cost of credit protection on five-year debt to widen by 7 basis points to 280/290bp today.