Report
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October, 2012
Skandia sees risk appetite returning in rising US bond yields
According to Skandia Investment Group (SIG), rising bond yields in the US are an indication of risk appetite returning to the market. SIG portfolio manager, Anthony Gillham, said the yield on US government bonds has moved out to nearly 0.5% on the 10-year point on the curve, which is 0.1% higher than UK Gilts. Gillham added: “This might not sound much, ...
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October, 2012
IMA opposes legislation in call for greater boardroom diversity
The Investment Management Association (IMA), the trade body for the asset management industry, has called for diversity in company boardrooms, but says it opposes legislation, such as quotas, which would boost diversity. In its written submission to the House of Lords, the IMA said that investors want an effective board that is the best fit for a company. ...
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October, 2012
AXA positive on ECB’s latest euro move
AXA Group chief economist Eric Chaney has said that the European Central Bank’s new flagship intervention tool of outright monetary transactions (OMT) is, overall, a good move. The use of OMT is designed to remove risk of a euro break-up by enabling the ECB to intervene in the sovereign markets of weaker Eurozone member countries once they have ...
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October, 2012
Industry bodies call for better pension cost disclosure
The Association of British Insurers (ABI) has set out plans for clearer pension charges in a letter to the Pensions Regulator and the Financial Services Authority (FSA). In it, the ABI has called for consistent and simple disclosure of charges to employees in contract and trust-based pensions, which should include transaction costs. The move is aimed at ...
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October, 2012
Morrow adds asset management to Aquantum
A quantitative trading expert from Winton Capital Management, Thomas Morrow, has announced his systematic managed futures index business, Aquantum, will expand into asset management. Morrow left Winton in 2008 to set up Aquantum, based in Luxembourg, which provides systematic investment indices to structured investment product issuers. It then made a ...
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October, 2012
Deloitte’s Stewart outlines factors behind low rates on bonds
Deloitte LLP chief economist Ian Stewart has commented on the extraordinary low level of interest rates on the bonds of the major industrialised nations. Stewart said that interest rates on 10-year bonds issued by the UK government are at the lowest level since 1703 and this year has seen negative yields on two year Swiss and German bonds. On the other ...
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July, 2012
Gold proves popular hedge against Europe risks
Gold exchange-traded certificates (ETCs) have seen nearly $900 million of inflows in the last few months, as investors have hedged against the risk of the European sovereign debt crisis. ETF Securities, a provider of gold and precious metal ETCs, said with Spanish and Italian bond yields approaching unsustainable levels, investors are seeking shelter in ...
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July, 2012
Fund managers to use more ETFs in future
Fund managers are to increase their use of exchange-traded funds (ETFs) and exchange-traded products (ETPs), according to a survey commissioned by Lyxor, itself an ETF provider. According to the research, 54% of fund managers plan to increase their use of ETFs and ETPs, and almost a quarter of them expect at least a 10% rise in these assets. At present, 81% ...
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July, 2012
Credit opportunities knock for Brevan Howard
Brevan Howard is one hedge fund manager which has benefited from opportunities in the credit markets in the first half of 2012 to produce a return of 6% from a range of strategies in one of its credit funds. Charlotte Valeur, chair of the BH Credit Catalysts investment trust commented: “Central banks have recognised that most Western countries have to ...
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July, 2012
NAPF positive on LGPS blueprint
The National Association of Pension Funds (NAPF) cautiously welcomed the agreement over the Local Government Pension Scheme (LGPS) between the Local Government Association and trade unions. NAPF policy director Darren Philp said: “Importantly, this agreement protects the lower paid from having to pay more into their pension. The last thing we want is for ...
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