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FRIDAY TICKER: OCTOBER 31TH 2014: - The re-election of President Dilma Rousseff on Sunday has important implications for Brazil's Baa2 sovereign rating, as well as for the credit quality of the country's banks, corporations and securitisations, says Moody's. The rating agency says the narrow margin of her victory underscores the challenges she faces as she looks to revive Brazil's lacklustre economic performance - Facebook has reported third quarter results, again showing strongest year-on-year growth in mobile, where daily active users (DAUS) rose by 39% to 703 million, while overall daily users rose 19% to 864 million DAUS - Francisco Partners, a global technology-focused private equity firm, today announced it has completed the acquisition of Vendavo, Inc., a leader in business-to-business (B2B) pricing solutions. David Mitchell, an operating partner of Francisco Partners, will join Vendavo as CEO and lead the company’s worldwide business strategy and operations. Incumbent CEO Neil Lustig will transition into an advisory role with Vendavo. Francisco Partners now has a controlling stake in the Silicon Valley company. The acquisition by Francisco Partners provides additional resources to bolster Vendavo’s aggressive growth strategy, enabling the company to expand sales and marketing while accelerating cloud development. Vendavo completed a record first half of 2014, with nearly 30-percent growth in bookings, and the release of two breakthrough solutions for price and sales effectiveness. Based in Mountain View, Calif., Vendavo provides revenue and price optimisation solutions for B2B mid-market and enterprise companies.Francisco Partners was advised by JMP Securities, and Vendavo was advised by William Blair. Financial terms of the transaction were not disclosed – The International Finance Corporation, or IFC, issued the four-year, triple-A rated bond only to Japanese retail investors, tapping into the growing interest in low-risk investments with a social or environmental focus. The World Bank, has sold several billion dollars in green bonds over the past six years, with proceeds going to help countries and firms cut greenhouse gas emissions and adapt to climate change. The latest offering, Inclusive Business bonds, would finance firms that work with or sell to the 4.5bn people in the world that make less than $8 a day. IFC said while most poor people do not spend a lot individually, as a whole they represent an estimated $5trn consumer market that firms could tap into - NAKA Mobile, a telecoms and technology specialist based in Switzerland, has claimed the industry’s first virtualised evolved packet core (vEPC). Utilising Cisco’s NFV services, NAKA claims it will transform its network architecture, expand beyond Switzerland, and provide its mobile Internet services to customers across the world - The Internet Society and Alcatel-Lucent have agreed to provide support and equipment for the development of the Bangkok Internet Exchange Point (BKNIX). The project will utilise the Internet Society’s Interconnection and Traffic Exchange (ITE) programme and is intended to deliver a stronger and more robust Internet infrastructure for South East Asia.

AUM in Luxembourg at record high in April

Wednesday, 20 June 2012
AUM in Luxembourg at record high in April The Association of the Luxembourg Funds Industry (ALFI) today announced that the assets under management of Luxembourg-domiciled funds  reached a historic level at the end of April 2012, at €2,225bn under management. Luxembourg remains the largest European fund centre, followed by France and Germany. http://www.ftseglobalmarkets.com/

The Association of the Luxembourg Funds Industry (ALFI) today announced that the assets under management of Luxembourg-domiciled funds  reached a historic level at the end of April 2012, at €2,225bn under management. Luxembourg remains the largest European fund centre, followed by France and Germany.

“Following a year of political uncertainty which has led to turmoil in financial markets, we believe that this growth in assets under management in Luxembourg marks a return of confidence in investment funds. “ says Marc Saluzzi, Chairman of ALFI.

According to ALFI’s 2011 Annual Report, released today, 2011 was characterised by strong caution on the part of investors.  Despite net inflows of €5bn, Luxembourg funds finished the year €102bn down on the previous year, with €2,096bn under management.



However, 2011 was an "excellent year in terms of creation of new funds" says ALFI with 3845 funds domiciled in Luxembourg at the end of December 2011. "This growth confirms the extent to which specialised investment funds have become an essential part of the Luxembourg funds industry, accounting for 277 of the 459 new funds created under the Luxembourg domicile in 2011".

Commenting on the regulatory environment, Saluzzi says that “ALFI remains concerned by the regulatory pressure faced by the industry. The Financial Transaction Tax in particular could have a substantial negative impact on investors, and ALFI continues to work to ensure that policies are beneficial to the fund industry and its clients.”

 “It’s an interesting time in the fund management industry, and ALFI is particularly supportive of the growth of socially responsible investing, including the development of vehicles and benchmarks for so-called impact funds, microfinance funds and environmental funds. ALFI is also delighted at the opportunities the new European AIFM Directive offers to fund managers and institutional investors who are looking to develop alternative funds.,“ he

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