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SPDR ETFs, the ETF platform of State Street Global Advisors (SSgA), announced this week that it had launched the SPDR Barclays EM Inflation-Linked Local Bond UCITS ETF on the Deutsche Borse; the world’s first ETF to offer pure exposure to EM inflation-linked debt. The physically-backed ETF tracks the Barclays EM Inflation-Linked 20 per cent Capped Index, which includes inflation-linked sovereign bonds issued by Brazil, Mexico, Chile, South Africa, Poland, Turkey, Israel, Korea and Thailand.
Scott Ebner, global head of product development for SSgA, said: “The SPDR Barclays EM Inflation-Linked Local Bond UCITS ETF gives investors simplified access to a diversified
The Cayman Islands has indicated to the UK government that it is committed to joining the G5 pilot, recently announced by the UK, France, Germany, Italy and Spain, on multilateral automatic exchange of tax information.
This decision follows a statement made by Cayman’s Deputy Premier, who also is the country’s Minister for Financial Services, in the Cayman Islands Legislative Assembly on 15 March. The statement, announcing Cayman’s commitment to pursue a Model 1 IGA approach to FATCA with the US and UK, recognised the shift to the new global standard of automatic exchange.
By joining the G5 pilot,
Joel Copp-Barton, European Equities Product Director at Invesco Perpetual, shares his views on Europe’s recovery…
Recent Purchasing Managers Index data is questioning the speed at which Europe can recover. The uncertainty caused by Italy failing to elect a government and the impact on short term confidence from the prolonged Cyprus bailout process undoubtedly weighed on these surveys in February and March. The flash estimate for April was the first overall reading which didn’t disappoint expectations for a couple of months, though it still stayed below the key 50 level, at which point economic growth tends to re-emerge.
The make-up of
Long/short hedge funds are the top performing strategy in the first quarter of 2013, with cumulative net returns of 4.43 per cent, according to Preqin.
Preqin’s April edition of Hedge Fund Spotlight reveals that long/short hedge funds outperformed all other strategies in Q1 2013. Long/short equity is also the most commonly sought-after single strategy by institutional investors, with 43 per cent of investors that are planning on making new allocations to hedge funds in the next 12 months favouring this strategy.
Macro strategies hedge funds posted returns of only 1.17 per cent in Q1 2013, and fund launches
Investors who continue to search for yield in a zero interest rate environment may have finally found a solution in 2013: bank loan funds. Investors have poured nearly USD15bn into bank loan mutual funds in the first quarter of 2013, according to Morningstar.
But as quantitative easing continues and high yield bonds remain under pressure, will bank loans be the next victim of yield compression?
Mark Okada (pictured), co-founder, chief investment officer of Highland Capital, and its mutual fund affiliate, Highland Funds, disagrees. Now may be
The European Energy Exchange (EEX) will launch trading in Guarantees of Origin for Green Power on 6 June 2013.
Guarantees of Origin are certificates which prove that a given megawatt hour of power was generated from renewable resources. Used exclusively for disclosure and transparency purposes only, they are then cancelled after use.
By entering into the market of Guarantees of Origin for Green Power, EEX will establish an exchange platform for a product which has until now, only been traded over-the-counter.
Peter Reitz (pictured), chief executive officer of EEX, says: “By doing this, we are giving our
Sturgeon Ventures, the regulatory incubator, has launched the Clerkenwell Matterhorn Fund, an absolute return, open-ended long/short fund with a long bias. It will target a net total return of five to 15 per cent per annum by investing in real estate investment trusts and property development companies.
Domiciled in Malta, the fund is aimed at high net worth investors, family offices and institutions in the UK and Europe. It is the first time that Sturgeon, portfolio manager to the fund, has launched with an independent custodian, Kleinwort Benson Guernsey.
The fund, a thematic professional investor fund, is a sub-fund of
The Rothstein Kass global network has established Rothstein Kass Ireland and completed its admission as a member firm.
The member firms of the Rothstein Kass global network collectively now have 10 offices globally and more than 1,100 employees.
“This is an exciting and important move for Rothstein Kass given our focus on the global fund industry and Ireland’s importance as one of the leading fund domiciles in the world,” says Dan Byrne (pictured), member of the network’s global board. “Rothstein Kass Ireland will be focused on auditing investment funds domiciled in Ireland and certain other European jurisdictions, as well
Azentus Capital Management Ltd, led by former Goldman Sachs proprietary trader Morgan Sze, returned 8 per cent before fees this year through to 22 April, according to a person with knowledge of the matter.
Azentus’s assets stand at USD1.6 billion, said the person, who declined to be identified because the information is private. Hong Kong-based Azentus manages a global multi-strategy hedge fund focused on Asia. Roger Denby-Jones, Azentus’s chief operating officer, declined to comment. The Eurekahedge Multi-strategy Hedge Fund Index, tracking the performances of 254 pools globally, returned 2.3 per cent in the first three months.
Large hedge funds, which absorbed most of
MarketAxess, the operator of an electronic trading platform for fixed income securities and the provider of market data and post-trade services for the global fixed income markets, has reported record revenues of USD55.6m for the first quarter ended 31 March 2013.
“We are pleased to report another solid quarter with record revenues and pre-tax income, driven by continued momentum in our core US high-grade business and strong growth in high yield and emerging markets,” says Richard M McVey (pictured), chairman and chief executive of MarketAxess. “Our Open Trading initiatives continue to gain traction and yesterday we announced a strategic
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