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Credit profiles remain stable, but maturities lengthen in euro and sterling funds
Paris, November 26, 2014 —
In the third quarter of 2014,
US and euro money market funds (MMFs) increased their exposures to European financial institutions in Q3 2014, according to the latest quarterly MMF reports from Moody's Investors Service.
Maturities in euro and sterling funds increased, owing to the low rates in Europe and ongoing attempts by funds to compensate for dwindling yields.
In third-quarter 2014, assets under management in US-domiciled prime MMFs grew 1.6% to USD637 billion, following a 4% decline in the second quarter. In European
- 27/11/2014
The London Metal Exchange (LME) has approved China Merchants Securities (UK) Limited (CMS) for category 2, associate broker clearing membership.
CMS has also been approved as a member of LME Clear, the LME’s new clearing house.
“We welcome CMS to the LME and look forward to extending our user base further in the Asia region,” says Garry Jones, chief executive of the LME.
“LME Clear is delighted to approve CMS as a new member as we further strengthen our presence in the global clearing space,” says Trevor Spanner, LME Clear chief executive.
CMS is the LME’s third Chinese-owned clearing member.
- 27/11/2014
Signia Wealth has reached a major growth milestone, with its hedge fund proposition now passing GBP500 million in Assets under Management (AUM).
The entrepreneurially led boutique wealth manager has been increasing hedge fund expertise, most notably with the appointment of Michael Rosenthal in March 2014, to offer clients an alternative to the diminishing returns of fixed income. This GBP500 million milestone illustrates the firm’s dedication to continually refine its investment strategy to meet client demand.
Since Mr Rosenthal’s appointment, the majority of clients at Signia Wealth have increased their exposure to hedge funds by around 10%, with the focus
- 26/11/2014
ICAP’s is holding it’s latest Charity Day – the single biggest annual fundraising event in the financial sector – on 3 December, when ICAP staff, customers and suppliers come together to raise money for a host of charities.
More than 60 offices in over 32 countries donate 100% of revenue and commission on the day.
Last year, ICAP Charity Day – which began 22 years ago – raised an amazing GBP9.5 million in 24 hours, bringing the total amount that ICAP has raised over 21 years to more than GBP110 million. ICAP has supported 1,600 charities globally to date.
- 26/11/2014
- 26/11/2014
Singapore Exchange (SGX) is to launch a bond trading platform by mid-2015. It will initially trade Asian corporate bonds in G3 currencies, with Asian local currencies to follow.
To drive this initiative, the first of its kind focused on Asian bonds, SGX has formed a new subsidiary, SGX Bond Trading (SGX BT).
The development of this platform will be executed in close consultation with the industry, and the platform aims to become an Asian Liquidity Centre for both high-yield and investment-grade corporate bonds. SGX held an inaugural Steering Committee meeting with senior representatives of 32 leading Asian fixed income dealers
- 26/11/2014
- 26/11/2014
Hedge fund capital invested in Emerging Markets (EM) posted a narrow gain for the third quarter as EM, Currency and Commodity Volatility all increased driven by geopolitical and macroeconomic developments.
Total hedge fund capital invested in EM hedge funds increased to USD185.15 billion (1.13 trillion RMB, 475 billion Brazilian Real, 8.58 trillion Russian Rouble, 694 billion Riyal, 11.5 trillion Indian Rupee), according to the latest HFR Emerging Markets Hedge Fund Industry Report, released today by HFR, the established global leader in the indexation, research and analysis of the global hedge fund industry. Despite the small increase of USD700 million from
- 26/11/2014
Rajawali Group and GIC, Singapore’s sovereign wealth fund, are to jointly invest up to USD500 million in equity in property projects in Indonesia, with a focus on Jakarta’s CBD.
The joint venture will explore opportunities in sectors including office, retail, residential as well as mixed-use projects.
The joint venture follows a successful collaboration between Rajawali and GIC in the development of a 47-storey International Grade A office tower on Jalan Jenderal Gatot Subroto, in the heart of Jakarta’s Central Business District. The office tower, now named Capital Place, is part of a mixed-use development, which includes the first all-suite luxury
- 26/11/2014
The introduction of the AIFMD has fuelled strong growth in European fund domiciles, with the number of alternative investment funds increasing by 10% since 2010, and assets under management increasing by 13%.
That’s according to a report published by the Association of the Luxembourg Fund Industry, carried out by Oliver Wyman.
“The introduction of the AIFMD increased the attractiveness of European onshore domiciles,” comments Marc Saluzzi, Chairman of ALFI. “Whilst many were against it when it was first introduced because of the fear of high compliance costs and additional complexity, this piece of regulation has brought significant benefits, allowing
- 26/11/2014
Total hedge funds assets were virtually unchanged in October, decreasing 0.0002%, to USD3.020 trillion, according to eVestment’s latest Hedge Fund Asset Flows Monthly Summary Report.
Performance gains among many large funds accounted for an asset increase, while redemptions outpaced new allocations for an outflow of USD2.9 billion during the month.
The USD2.9 billion outflow in October was the second consecutive month in which investor flows were negative. The industry has not had two consecutive months of net outflow since mid-2012, in the wake of volatility from the European sovereign crisis.
Investor sentiment towards equity strategies was negative for the second
- 26/11/2014
The City of Zurich Pension Fund has chosen Citco to provide administration, custody and related financial services to its USD1.3bn hedge fund portfolios.
The mandate follows a series of other key wins from institutional investors, driven by demand for customised portfolios.
Earlier in the year Baloise Group, a European provider of insurance and pension solutions with CHF54bn of insurance assets, strengthened its long standing relationship with Citco by deploying the ÆXIMO technology for outsourced middle office operations. It allows investors full portfolio planning and dealing, including liquidity reporting, asset allocation breakdown, compliance checks and performance reporting. The custodial system has
- 26/11/2014
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