Monday 8th February 2016
NEWS TICKER: February 8th 2016: SimCorp, a provider of investment management solutions says Vescore AG, a Swiss asset manager with $14bn in assets under management, has completed the implementation of SimCorp Dimension. Other divisions of the Vescore group will migrate to SimCorp Dimension in phase 2 of the implementation project, so the whole business will then operate on an integrated platform, designed to support modern, internationally active asset managers as they realize their growth potential. Frank Häusgen, senior sales & account manager at SimCorp says: “Vescore is another example that the ‘Investment Book of Record’ (IBOR) is so much more than a buzzword.” - S&P Capital IQ and SNL has rebranded as S&P Global Market Intelligence. The division’s new name is a strategic move forward as part of the integration of the two previously separate businesses, S&P Capital IQ and SNL Financial, under parent company McGraw Hill Financial (NYSE: MHFI). The businesses originally combined following the successful completion of the SNL Financial acquisition by MHFI on September 1, 2015. MHFI also recently announced its intention to rebrand at the corporate level as S&P Global, subject to shareholder vote in April of this year - RPMI Railpen has announced three new appointments to the in-house investment team for the Railways Pension Scheme. Sweta Chattopadhyay has joined as senior investment manager of the Private Markets team, joining from Adveq, a global alternative investment firm. Matthias Eifert has also joined the £22bn pension scheme from Macquarie Securities, and will take up the role of investment manager focusing on fundamental equity analysis and managing concentrated equity portfolios. Meanwhile, Tony Guida has joined the Alternative Risk Premia team at Railpen as an investment manager, from EDHEC Risk Institute - BCA Research, a provider of investment research, says has partnered with FiscalNote, a technology startup building a platform for analysing government risk, to integrate US policy data and analysis onto BCA’s digital platform BCA Edge. The collaboration will enable investors to factor in today’s complex regulatory landscape into their investment strategies and better understand how individual companies and industries are impacted by legislative actions, to identify alpha generating investment opportunities. The agreement with FiscalNote follows BCA’s collaboration with crowdsourced financial estimates platform Estimize to incorporate earnings and revenue estimates data on the BCA Edge platform - BroadSoft, Inc. (NASDAQ: BSFT), a global unified communication software as a service (UCaaS) provider, has acquired Transera, a provider of cloud-based contact center software for small-medium business (SMB) and large enterprises. The acquisition positions BroadSoft to lead the fast-growing Contact Center as a Service (CCaaS) market, while enabling service providers to offer a comprehensive cloud contact center portfolio with minimal new investments, rapid time-to-market, and seamless integration with BroadSoft's BroadWorks and BroadCloud solutions. BroadSoft believes that Transera's omni-channel (voice, email, chat and social) and analytics-driven cloud contact center software will enable businesses to optimise operational efficiency, strengthen financial performance and improve the business outcomes of customer interactions. "Today's acquisition brings together the leading cloud unified communications provider with a pioneer redefining contact center performance through omni-channel and big data analytics," says Michael Tessler, chief executive officer, BroadSoft. "The multi-billion-dollar contact center market is ripe for cloud disruption, and we now offer service providers a single stack solution with the flexibility to scale from SMB to large enterprise." "Cloud is rewriting the rules when it comes to how businesses can deliver a superior customer-engagement experience through simplicity, on-demand scalability, and advanced analytics," adds Prem Uppaluru, chairman and chief executive officer, Transera, who will assume the role of General Manager and Vice President of BroadSoft Cloud Contact Center - Singapore state-fund Temasek Holdings’ wholly owned investment arm Vertex Venture Holdings’ fourth Israel fund has been oversubscribed by as much as 50%, and is set to see its final close at $150m, according to Singaporean press reports. In the meantime, Temasek says it is set to close a new fund, Red Dot, also worth up to $150m to invest in mature Israeli high tech firms - Wealth manager Charles Stanley says it has appointed Vicky Casebourne and Elizabeth Feltwell as intermediary sales managers. Feltwell joins from The Ingenious Group and will work with financial advisers, solicitors and accountants across Scotland, Northern Ireland and London. Casebourne joined Charles Stanley in 2011 as a trainee investment manager from Brewin Dolphin. She worked as a central investment product specialist, assisting intermediaries with in-depth product analysis before moving to an intermediary sales manager role - Thin and thinner news from Asia today as Chinese New Year celebrations take over from worries about falling stock markets. The focus today is all on Japan: the Bank of Japan released the notes backing its decision to introduce negative interest rates (see news story below). Japan's Nikkei Stock Average rose 1.1%, but is still down 12% from the beginning of the year and is still at 12.8 times this year’s earnings according to S&P Capital IQ. Thailand's SET was up 0.4%. India's Sensex is up 0.1% (essentially flat), while Australia's S&P/ASX 200 ended down 0.01%. Other markets in Asia were closed for the Lunar New Year holiday. The pace of the US Federal Reserve’s tightening on monetary policy still hangs heavy on the market, as last Friday’s jobs figures showed a 151,000 increase in jobs while insurance claims for joblessness stayed flat overall on the previous month. Contrast that with slower and still slowing growth in China, a nervous monetary policy from the PBOC, which is being steered rather than steering markets, still volatile crude oil prices (which can only get worse not better as inventories continue to rise), a collapsing market in Brazil, concerns about NPLs at Indian banks, and the threat of ever looser monetary policy in Europe and you can see why investors are running on empty. Crude oil prices remain sharply lower compared with several months ago, but the pace of falls might be easing. New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at $30.86 a barrel, down three cents from the previous close. The words rock and hard place come to mind this week as the US Federal Reserve will have to steer a delicate monetary course. On the one hand an increase might help cool the economy (but that won’t help US stocks); but if it says that the reason it doesn’t raise rates is because of worries about the global outlook, it will shake investor confidence in the markets and trigger another round of sell offs. The other key trend has been the steadily appreciating US dollar. The US dollar has risen since Friday, factoring in perhaps the possibility of an additional rate rise. The dollar was at ¥ 117.28 in late Asia, up from ¥ 116.82 late Friday in New York. The euro was at $1.1139, down from $1.1160. We’ll find out midweek, as Federal Reserve chair Yellen will testify before Congress on the progress of monetary policy on Wednesday.

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BlackRock index update reveals global market moves

Wednesday, 16 January 2013
BlackRock index update reveals global market moves BlackRock has released its quarterly update of the BlackRock Sovereign Risk Index (BSRI), showing key movements by Australia, China, India, Japan, New Zealand, South Africa and the United States. The BSRI provides investors with a framework for tracking sovereign credit risk in 48 countries, drawing on a pool of financial data, surveys and political insights. http://www.ftseglobalmarkets.com/

BlackRock has released its quarterly update of the BlackRock Sovereign Risk Index (BSRI), showing key movements by Australia, China, India, Japan, New Zealand, South Africa and the United States. The BSRI provides investors with a framework for tracking sovereign credit risk in 48 countries, drawing on a pool of financial data, surveys and political insights.

The update also contacts the newly created interactive BSRI, which allows for viewing individual country scores, comparing two countries and sorting overall rankings by index components. The BSRI was developed through the BlackRock Investment Institute (BII) in June 2011, in recognition of the growing focus by investors around world on sovereign risk debt. The BSRI uses more than 30 quantitative measures, complemented by qualitative insights from third-party sources.

Highlights of the report include Japan’s fall in the rankings as a result of its sharply deteriorating fiscal balance – a space worth monitoring in 2013 as a new government and central bank governor settle in. “The fiscal profile of Japan worsened enough to cause it to slip two spots to 35th place, even as its other BSRI components improved. Japan now ranks just ahead of South Africa but below the likes of Turkey, Indonesia and Slovakia,” according to the BII.



The US remained at 15th place even as it teetered on the edge of the “fiscal cliff” of automatic tax hikes and spending cuts. "The last-minute deal was better than nothing, we think, but its limited scope means more tortured budget talks – and market volatility – ahead,” BII strategists said.

China, Australia and New Zealand moved up in the rankings, with Australia jumping three spots due to an improved primary budget balance. “China rose two spots to 16th place on the back of higher government revenues as a percentage of GDP. China’s ‘Willingness to Pay score’ improved due to the relatively smooth once-a-decade leadership change,” according to the report.

India remained at 39th place, but the country’s profile improved on most fronts, according to the BII: “India’s ‘Fiscal Space’ improved on a lower debt-to-GDP level and an improving primary balance. Among major BSRI movements, the BII also noted that South Africa dropped two notches to 36th place: “South Africa slid two spots to 36th place mainly due to a rapidly worsening current account deficit. Anecdotal evidence has money fleeing the country at a rapid pace, and the BSRI appears to reflect this.”

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