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Jersey Finance has welcomed the awarding of a AA+ Long Term Issuer Default Rating – one of the top international credit ratings – to The States of Jersey by Standard and Poor’s (S&P).
In addition, S&P has also given Jersey a stable outlook and a short term rating of A-1+, again the highest level possible.
Geoff Cook (pictured), chief executive, Jersey Finance, says: “Jersey being awarded the highest international credit rating possible is clearly very welcome news indeed, and provides us with a further globally recognised metric that can support Jersey’s reputation as a stable, robust jurisdiction on the
Veteran high-yield portfolio manager William M Nelson has assumed portfolio management of the Ivy High Income Opportunities Fund, effective immediately.
He takes over fund from Bryan C Krug, who had managed the fund since its inception and is leaving to join Artisan Partners Asset Management.
Nelson joined the firm in 1995 as a fixed income investment analyst specialising in high yield securities. He was appointed vice president and portfolio manager of Ivy Funds VIP High Income (USD644m in assets) in 1999 and portfolio manager of the Waddell & Reed Advisors High Income Fund (USD2bn in assets) in 2008. He
UCITS funds recorded net outflows of EUR15billion in September (compared to net inflows of EUR15billion in August) according to the latest investment fund industry factsheet released by the European Fund and Asset Management Association (EFAMA).
Looking at the figures in more detail, net sales of equity funds rose to EUR14billion, a substantial increase on August which attracted just EUR2billion, while bond funds registered net outflows of EUR9billion; a sign perhaps that investors were willing to put more risk on the table in September. Long-term UCITS recorded net inflows of EUR9billion, up from break-even point in August.
The most revealing
Fixed income portfolio manager Bryan C Krug is to join Artisan Partners Asset Management.
Krug has 14 years of industry experience and seven years of portfolio management experience leading a high-yield investment strategy.
At Artisan Partners Krug will lead a credit opportunities strategy that the firm expects to launch in 2014. Upon joining Artisan Partners he will have the flexibility to develop a team in a way that fits his own investment beliefs and process.
Eric Colson, president and chief executive, says: "Our process for evaluating new investment talent is very thorough and we are extremely patient. As
Tikehau IM, Tikehau Group’s regulated, credit-orientated investment management subsidiary, has launched a pan-European leveraged loan fund – the FCT Tikehau Corporate Leveraged Loan Fund.
Launched in early November, the fund’s objective is to invest in senior secured loans made primarily to European private equity sponsored companies in order to support buyout, expansion, and recapitalisation transactions.
The fund has completed a first closing enjoying strong traction amongst European institutional investors looking to increase exposure to the senior leveraged loan market in Europe.
The FCT Tikehau Corporate Leveraged Loan Fund is the latest offering from Tikehau Group’s EUR2.3bn AUM credit
1650 Wealth Management, a private wealth management firm located in Fort Lauderdale and Miami, Florida, has published an investment guide looking at how the wealthy invest.
The guide reveals investment strategies used by not only the ultra-wealthy, but major institutions and endowments that create total diversification strategies, using alternative investments to protect, grow and preserve their wealth.


Tom Balcom, founder of 1650 Wealth Management and author of the guide, says major institutions and endowments, such as Harvard, Yale and Stanford, face the same challenges as retirees, such as meeting current and future cash flow needs, in addition to addressing
Guernsey’s banking, private wealth, investment and insurance sectors are all featuring in meetings between an island delegation and regulatory authorities, association networks and financial services businesses in Beijing and Shanghai.
Kevin Stewart, Guernsey’s commerce and employment minister, says: “This week has been very positive. We have had a large number of meetings with a range of different regulatory authorities, industry bodies and financial services businesses.
“They have given us the opportunity to highlight that Guernsey is a well-regulated, compliant and cooperative international finance centre and also showcase the strength of the four main pillars of our finance industry –
Dev Sanyal has been appointed as a non-executive director of Man Group with effect from 1 December 2013.
Sanyal is executive vice president and group chief of staff of BP and has held a number of senior financial and line management positions within BP in a global career of more than 20 years.
He has in-depth experience of capital markets, asset management, trading and foreign exchange gained from his role as BP group treasurer.
As executive vice president and a member of BP’s group executive committee, he is responsible for group strategy and planning, group risk management, government
The HFRI Emerging Markets (EM) Total Index gained 3.0 per cent in 3Q13 and 2.5 per cent in October, bringing YTD performance for the EM Index to +4.7 per cent, outdistancing most individual EM local equity markets, according to HFR.
Total hedge fund capital invested in Emerging Markets increased to USD161.0 billion (Chinese RMB 980 B, Russian Ruble 5.29 trillion, Brazil Real 377 B, Indian Ruppee 10.3 trillion, Saudi Riyal 604 billion), the fifth consecutive quarterly record asset level for EM hedge fund capital.
EM performance gains in 3Q13 were led by funds investing in China, Korea, Russia and the
LME Clear has selected The Depository Trust & Clearing Corporation (DTCC), an approved trade repository, as its strategic partner for the new LME reporting service, LMEwire.
The service, powered by LME Clear, will be available by 12 February 2014, the confirmed start date for the reporting obligation for all asset classes, as set out by the European Market Infrastructure Regulation (EMIR).
LMEwire will enable members and their clients to efficiently comply with the new rules mandated by EMIR. LME Clear will be able to transpose and transport all relevant exchange-traded data from the LME's matching system, LMEsmart, directly to
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