Structured products
Bottom to top
The Amex European Equity Market Neutral Fund battles with volatile and irrational markets to achieve returns of Libor plus 4% to 8%
Knowing when the price is right
Volatile markets have led to a change in risk procedures, with VaR and manager-led stop/loss strategies being favoured over automated controls
Tighter controls
The FSA has strict rules governing retail funds to ensure investors understand exactly what they are buying. Could such regulation stretch to non-retail funds?
Shariah Funds Inc introduces the first Islamic hedge fund aided by scholars
Islamic hedge fund market could be worth trillions in assets under managemenT
Long-term tech gains to be had due to untapped global markets
Expansion is inevitable, according to some fund managers
Facing the Quest
With returns of 8.22% in the past year, Collins Stewart's strict portfolio decisions are made through its own ranking system
EVENTS
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A changing environment
After a difficult 2002, managers are turning to long/short strategies for success in 2003
The secret to success
After a slow start, ETFs have rapidly taken off and provide great value to institutional users as an alternative way to equitise cash
Finding the right balance
Rebalancing hedge fund of fund portfolios for optimal performance in a treacherous bear market poses difficulties
Measuring the operational risk of fund valuation companies
How can we model the losses due to operational risk in asset management? The loss process approach provides an answer specifically suited to this question for the fund valuation business and is in line with the work in progress of the Basel Committee on…
Synthetic CDOs lead growth in European securitisation, says Moody’s
Collateralised debt obligations (CDOs) saw the greatest volume of growth in the European structured finance market in 2002, said ratings agency Moody’s in a report today. Last year, issuance rose to €182 billion, an increase of 42% on the total in 2001,…
Asia's ABS market breaks records in 2002
The Asian securitisation market had its most successful year ever in 2002, with cross-border issuance reaching a record $5.56 billion, according to a report by ratings agency Moody’s Investors Service.
CreditTrade to supply benchmark data through Reuters
CreditTrade, the London-based inter-dealer broker and provider of credit derivatives data, has signed an agreement with Reuters, the UK information and technology group, to distribute CreditTrade's benchmark credit derivatives data via its screens.
Schroders to enter HK retail hedge fund market
Schroders Investment Management plans to launch its flagship fund of hedge funds products in Hong Kong, says Nicholas Chalmers, associate director in the alternative investment group at Schroders in Hong Kong. The move follows regulatory changes last May…
Hedge funds provide poor stress-testing disclosure, says Iafe
Hedge funds offer poor stress-testing results and ‘greeks’ disclosure to third parties, according to a new survey by the International Association of Financial Engineers (Iafe).
Icap signs BrokerTec purchase agreement
UK inter-dealer broker Icap has reached an agreement to buy the electronic cash bond and repo trading business units of BrokerTec for up to £181 million. But the deal is still pending clearance by the US Department of Justice, which Icap expects will…
Italian government spreads widen on ratings change
Italian bond spreads widened nearly two basis points against the euro swaps curve, following yesterday's announcement by credit agency Standard & Poor’s that it has revised its ratings outlook on the country from stable to negative. By the end of the day…
ABS market continues to grow despite volatility, says Moody's
Issuance in the US asset-backed securities (ABS) market reached $400 billion last year, with the market growing on average 26% annually since 1986, according to a new report issued by rating agency Moody’s Investors Services.