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Samena Capital has launched its first Asia bond fund, to be managed in a joint venture with Argyle Street Management, an Asian debt specialist established in 2002.
Following its recent acquisition of Vision Asia Pacific and the launch of its Japan Fund, the Asia bond fund sees Samena Capital further expand its presence in Asia, and broaden its product range.
The Cayman-registered fund will be seeded with USD70m to invest in quality corporate issuance in Asia.
Argyle Street Management chairman V-Nee Yeh (pictured), who is also one of the founder shareholders of Samena Capital, says: “The prospects for the
Some 84 per cent of institutional investment managers expect corporate earnings to increase in the coming quarter and 84 per cent believe that global growth will accelerate in the next six months, according to a poll by Northern Trust Global Advisors.
The NTGA survey showed the most optimistic economic expectations from investment managers since the quarterly poll was begun a year ago. But managers, still hesitant to call a buoyant V-shaped recovery, see potential fragility in the system.
Three-quarters (76 per cent) of survey respondents expect interest rates to hold steady, reflecting a view that central banks will be hesitant
Alaris Trading Partners has hired Adam Capon, formerly of Goldman Sachs, as vice president of sales and trading.
Capon will concentrate on prime brokerage sales and further development of the institutional agency execution services of Alaris.
Most recently he was a specialist on the NYSE with Spear, Leeds & Kellogg Specialists, a wholly owned subsidiary of Goldman Sachs, focusing on US equity and high profile ADRs.
Mark McGoldrick, head of prime services at Alaris, says: “Adam comes to Alaris at a perfect time. His extensive experience handling customer orders in an agency capacity on the floor of the NYSE combined
Barclays Stockbrokers has launched two FTSE 100 structured products.
The firm says the recent rally in global stock markets has been significant, but investor opinion is divided as to what the future holds for the market over the medium term. While some investors are confident of growth opportunities, more cautious investors may be deterred by the prospect of a market correction or general stock market volatility.
The two products aim to accommodate the sentiment of these different investors. They are available exclusively until 28 October 2009.
The Protected FTSE 100 Note is designed for cautious investors who want access to
The share values of listed exchanges grew by 6.4 per cent during September 2009, amid further signs that the sector is returning to buoyancy and outperforming the rest of the market in terms of recovery.
Sixteen of the 18 exchanges listed on the Mondo Visione Exchanges Index experienced growth in the past month, with BM&F Bovespa leading the charge having grown 17.6 per cent in September and 65.7 per cent over the past year.
The index, which aims to reflect market sentiment, closed at 23,625.71 on 30 September 2009 and, overall, the recent trend remains positive since a four-year
Investor demand for Ucits funds continues to strengthen, with net Ucits sales of EUR36m in August, according to the European Fund and Asset Management Association.
From January to August 2009 total net sales of Ucits reached EUR128bn.
Long-term Ucits (excluding money market funds) increased their net sales to EUR32bn in August, reflecting net inflows into equity, bond and balanced funds.
Money market funds also attracted positive net inflows (EUR4bn) in August, albeit at a slower rate than in July (EUR11bn).
Special funds reserved for institutional investors continued to attract net inflows in August of EUR3bn.
Total assets of Ucits and
Asia Pacific’s population of high net worth individuals fell 14.2 per cent to 2.4 million in 2008 amid a global economic downturn and market volatility, according to a report from Merrill Lynch Wealth Management and Capgemini.
The combined wealth of the region’s high net worth individuals dropped 22.3 per cent to USD7.4trn.
Ultra-high net worths, or individuals with investable assets of at least USD30m, witnessed steeper wealth erosion with the number of ultra-HNWIs in Asia Pacific falling 29.6 per cent to 14,300 and their total wealth shrinking 35.1 per cent.
Growth in Asia Pacific’s HNWI population and wealth is
Hedge Fund Research has selected Castlestone Management’s Aliquot Gold Bullion Fund as a constituent of its HFRX indices.
The HFRX indices are investable products built using a Ucits III-compliant method.
The Aliquot Gold Bullion Fund offers 100 per cent direct unleveraged exposure to physical gold bullion, with no equity exposure and no corporate risk. The fund thus offers true portfolio diversification away from traditional asset classes.
Castlestone Management’s Angus Murray says: “We are pleased that HFR has selected Aliquot Gold Bullion Fund for its platform. The selection of the fund shows the acceptance not only of the fund,
European Central Counterparty will begin clearing and settling 120 of the most heavily-traded listed depositary receipts on 16 October.
EuroCCP has further extended its relationship with Citi’s Global Transaction Services, by appointing the firm as EuroCCP’s settlement agent for these instruments.
Initially all transactions will settle at Euroclear Bank. Some ISINs are eligible both at Euroclear Bank and the Depository Trust Company and, for these, after the initial period the settlement location will be determined at the ISIN level at the one location most convenient to the majority of participants – either Euroclear Bank or DTC.
James Cressy, head of
