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RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, has been designated a primary dealer in Germany and France, effectively immediately.
Harry Samuel, global co-head of fixed income and currencies, RBC Capital Markets, says: “In the UK, we have been a gilt-edged market maker for over a decade and in the US, we were designated as a primary dealer to the Federal Reserve of New York in July 2009. We are now looking to build on our success in these markets and are focused on establishing a trading capability across multiple jurisdictions in Europe.”
Herald Fund Services, working in conjunction with the Jersey law firm Crill Canavan, has launched the Comprehensive Investment ICC.
The new product enables advantage to be taken of Jersey’s regulatory system whilst reducing the set-up costs to a level more often associated with other jurisdictions.
Mike Capraro, managing director of Herald Fund Services, says: “Jersey leads the way in the regulation of international finance centres but regulatory excellence comes at a price to the customer and this premium can be an obstacle, particularly for start-up fund managers.
“By commoditising the set up of a fund within a product like the
Union Bancaire Privée has made three hires within its asset management division, as part of the expansion of its sales activities in Europe and Asia.
UBP believes that there is significant potential in European markets and has appointed a new head of sales – Europe to focus on augmenting the service it provides to both private and institutional clients in the region.
Nicolas Faller joins UBP on 1 November to take up this new role; he also joins the asset management executive committee. Faller was previously global head of distribution sales and a member of the executive committee at BNP
Designed to track the credit default swap market for sovereign entities, Standard & Poor’s has launched a series of CDS Sovereign Indices.
The index series is comprised of the S&P International Developed Nation Sovereign CDS Index and S&P Eurozone Developed Nation Sovereign CDS Index.
“The feedback that we have received from some market participants is that sovereign CDS indices should be more representative of the portfolio holdings and market weights,” says J.R. Rieger, vice president of fixed income indices at S&P. “The launch of the S&P CDS Sovereign Indices not only meets this market demand, but allows users of
Threadneedle has launched the Threadneedle Apex European Fund, an Ireland-domiciled equity long/short hedge fund.
The fund has been launched to provide greater flexibility for investors wanting to access Threadneedle’s track record in a European-domiciled fund.
It will be managed by Paul Doyle, using the same strategy applied over the past ten years for the Threadneedle European Crescendo Fund. Year to date the Threadneedle European Crescendo Fund has achieved 7.97 per cent, with annualised returns of 6.10 per cent over ten years.
In managing the Apex European Fund, stock selection is the dominant driver of returns with a strong
New hedge fund and securities regulation through measures such as the Dodd-Frank legislation in the US and the European Union’s Directive on Alternative Investment Fund Managers are indicative of a changed global order, according to the International Organisation of Securities Commissions.
Iosco’s new principles for securities regulation represent a paradigm shift for regulators and a marked change from the long-standing confidence in self-regulation, says the organisation’s deputy secretary-general, Tajinder Singh (pictured).
“Financial stability depends on prudential market regulation,” he told delegates at the recent Channel Islands Stock Exchange Summit conference in Jersey. “What is important is implementation and co-operation
Skandia Investment Group has awarded Aviva Investors a GBP8m mandate to help further boost its Skandia UK Strategic Best Ideas Fund, the only long/short Ucits III multi-manager fund in the IMA’s UK All Companies sector.
Launched just over three years ago, the fund has outperformed the FTSE All Share Index by over ten per cent since its launch in September 2007, placing the fund in the top quartile of the IMA UK All Companies sector.
The fund is currently managed by seven UK based long/short equity managers: Paul Casson of Henderson, Richard Plackett of BlackRock, Tim Steer of Artemis,
Guernsey’s finance industry has significant opportunities to win business in India, according to Peter Niven, chief executive of Guernsey Finance, the promotional agency for the island’s finance industry.
Niven was speaking at the culmination of a week-long delegation to Delhi and Mumbai organised by Guernsey Finance and led by Carla McNulty Bauer (pictured with Sarvjit S Dhillon, group director at Bharti Enterprises), minister for the commerce and employment department within the Guernsey Government.
Guernsey opened an office in China nearly three years ago but this is the island’s first official delegation to India.
“There are plenty of opportunities and not
Dow Jones Indexes will use the Centaura Solutions Asset Management System to provide data capture services in connection with the Dow Jones Credit Suisse Hedge Fund Indexes.
Dow Jones Indexes will use the Centaura Solutions Asset Management System to provide data capture services in connection with the Dow Jones Credit Suisse Hedge Fund Indexes.
Centaura’s AMS is designed with a set of performance data capture capabilities which will be used for the Dow Jones Credit Suisse Hedge Fund Indexes.
The system is capable of integrating with a number of market data or hedge fund data providers to price hedge funds
Overlay Asset Management has launched the BNPP/OAM Wealth Preservation Currency Index, a joint initiative with BNP Paribas Corporate and Investment Banking.
The index will offer investors access to a “virtual world reserve currency” and will help preserve the purchasing power of currency allocations.
The index tracks the performance of the 15 largest currencies, representing 80 per cent of the world’s economy. Currency allocations are determined by GDP then adjusted according to purchasing power parity, which boosts the weight of emerging market currencies.
The index can be used for investment, hedging, or as a benchmark for currency exposure. BNP
