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Commissions paid by institutional investors to brokers on trades of US equities are falling far short of projections to this point in 2010.
The results of Greenwich Associates’ latest US Equity Investors Study reveal that the amount of brokerage commissions paid by US institutions on trades of domestic equities decreased 13 per cent to an estimated USD12.1bn from Q1 2009 to Q1 2010.
Despite that falloff, US institutions entered this year predicting that commission payments would surge in calendar year 2010 in step with expected strength in both stock market performance and trading volume.
Buy-side traders at US institutions projected
- 08/06/2010
New York City based hedge fund manager Buckingham Capital Management is providing access to its two flagship hedge fund strategies, with USD1.38bn in total assets under management, through Innocap’s Managed Account Platform.
The Innocap platform was designed for leveraging National Bank of Canada’s managed account expertise developed since 1996.
Buckingham will also be using the placement agent services of NBF International, the Geneva based subsidiary of National Bank of Canada, which has been providing financial services to institutional investors in Europe for the past 50 years.
Buckingham Capital Management has been managing two US long/short equity strategies: the Buckingham RAF
- 08/06/2010
At a time of high market volatility, the latest consultation by the Committee of European Securities Regulators (CESR), which closed on 31May 2010, would allow UCITS funds to be twice as risky as the riskiest equity markets, says Peter Ainsworth (pictured), Managing Director of EM Applications, a supplier of investment risk solutions to asset managers and securities firms.
These new rules pose significant risks for investors and could severely damage the reputation of UCITS funds, a globally trusted regime. Furthermore, the range of Value at Risk (VaR) calculated during a year will be at odds with the risk figure published
- 08/06/2010
Julian Thompson (pictured), Head of Emerging Market Equities at Threadneedle Asset Management, outlines his emerging market equity outlook for Brazil.
A recent trip to Brazil confirmed that the “land of the future” is presently booming. Brazil has consistently failed to live up to its promise in previous cycles, with every boom quickly leading to an even deeper bust. However, since 2003, Brazil has been on a virtuous path of debt reduction as the trade surplus generated from selling commodities such as iron ore and soybeans, mostly to China, has been used to build up reserves and reduce the country’s reliance
- 07/06/2010
- 07/06/2010
Members of the International Capital Market Association favour end of day publication of trading prices, a survey has found.
The members were asked for their views on post trade transparency – i.e. the availability of prices on trades in corporate bonds that have been done between two counterparties directly rather than on an exchange.
Asked at what point, post trade, prices should be published, respondents indicated strongly (57 per cent) that end of day pricing was ideal with a strong preference for high/low/median end of day prices rather than actual or aggregate trade prices.
Most respondents (77 per cent) also
- 07/06/2010
Asia Debt Management Hong Kong has launched a fund dedicated to investing in recovery situations in the Central Asian republic of Kazakhstan.
The ADM Kazakhstan Capital Restructuring Fund will focus on privately-owned, small to medium-sized companies over a wide range of sectors with limited access to external capital as a means to grow.
"In the aftermath of the global economic crisis, Kazakhstan’s troubled banking system has paralysed the country’s economic growth," says Robert Appleby, chief investment officer of ADM Capital. "However, access to external credit can propel debt-burdened companies with otherwise healthy fundamentals back into profitability. We see
- 07/06/2010
BlueCrest Capital Management has appointed Daniel Kajiya as a portfolio manager for its emerging markets fund.
Kajiya will be based in London.
He joins from Morgan Stanley in Brazil where he was responsible primarily for USDBRL market making and proprietary trading.
The appointment follows the hiring last month of Marcin Wiszniewski to the same fund. Wiszniewski also joined from Morgan Stanley where he was head of European foreign exchange and emerging markets trading.
The fund was launched in September 2005 and there is now a team of seven working across BlueCrest’s offices in London, Geneva and New York,
- 07/06/2010
- 07/06/2010
HPC Platform, a provider of data packet processing solutions, has changed its name to NovaSparks.
Founded in 2007 by Marc Battyani and Eric Le Rolland, HPC Platform offers stable sub- microsecond latency for ticker plant, market data distribution and other data services.
Le Rolland says: “After an intensive period of research and development, we decided it was time to raise our profile further. This involved reviewing our brand and we are delighted to officially announce our new change of name to NovaSparks.”
NovaSparks offers the latest disruptive technology which reduces the latency involved in market data ticker plant
- 07/06/2010
- 07/06/2010
M&G has launched a Ucits III version of a global macro investment strategy employed for the Prudential life fund for the last decade.
The M&G Macro Episode Fund aims to offer institutions and sophisticated investors higher total returns than global equities over the medium to long term but with lower volatility.
The minimum investment in the fund is GBP1m.
The fund combines M&G’s traditional long-term approach to investment management with insights gleaned from behavioural finance. It is managed by Dave Fishwick and Eric Lonergan, who have a combined investment and economics experience of nearly 40 years.
The fund takes
- 07/06/2010
Liontrust Asset Management has appointed Nick Wells as a consultant to advise on business development.
In this newly created role, Wells will contribute to the development of a number of parts of the business. These will include product development and planning for the implementation of the Retail Distribution Review in 2012.
Wells was previously product and communications director of Artemis until he retired from the company in March 2010. Prior to that, Wells worked for ABN Amro Asset Management and Baring Asset Management.
“Nick is a great addition to the team at Liontrust. He has a vast array
- 07/06/2010
- 07/06/2010
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