Thursday 24th July 2014
slib33
THURSDAY TICKER: JULY 24th 2014 - New opportunities for European businesses, affordable energy bills for consumers, increased energy security through a significant reduction of natural gas imports and a positive impact on the environment: these are some of the expected benefits of the energy efficiency target for 2030 put forward today by the European Commission in a Communication. The proposed target of 30 % builds on the achievements already reached: new buildings use half the energy they did in the 1980s and industry is about 19% less energy intensive than in 2001. The proposed target goes beyond the 25% energy savings target which would be required to achieve a 40% reduction of CO2 emissions by 2030. At the same time the framework on energy efficiency put forward today aims to strike the right balance between benefits and costs - The California Pension Fund (CalPERS) has told the American press that it might cutting back on its investments into the hedge fund arena by as much as 40%. A CalPERS spokesman told papers that the investment staff will make a formal recommendation to the board in the fall. CalPERS reported a preliminary 18.4% return on investments for the 12 months that ended June 30th this year. CalPERS’ assets at the end of the fiscal year stood at more than $300bn - The number of funds notifying the Jersey Financial Services Commission (JFSC) of their intention to privately place into Europe under AIFMD rules broke through the 150 mark ahead of the end of the AIFMD transitional phase this week. The JFSC figures show that, as at 22 July, a total of 164 funds had opted to make use of Jersey’s private placement route into Europe, and that the UK was the top intended market for managers, followed by Sweden, Belgium, and the Netherlands - Vodafone Group’s debt rating was cut one level at Moody’s Investors Service after the carrier made multibillion-dollar acquisitions to expand in Spain and Germany. The second-largest wireless company’s senior unsecured debt was cut to Baa1, the third-lowest investment grade, from A3, says Moody. The outlook is stable. Newbury, England-based Vodafone reported net debt of £13.7bn ($23.3bn) for the quarter ended March 31st. It is the first time Moody’s has given Vodafone a rating lower than A3 since 2007. Standard & Poor’s and Fitch Ratings rank Vodafone’s debt at A-, the fourth-lowest investment grade. Vodafone’s acquisition of cable operators in Europe and falling revenue in some of its biggest markets contributed to the cut, Moody’s said - In a separate report issued this week, Moody's says the stable outlook on the European Bank for Reconstruction and Development's Aaa rating reflects the bank's conservative capital and liquidity practices, which should support its solid financial performances despite the challenging operating environment. The rating agency's report is an update to the markets and does not constitute a rating action. Moody's also notes that the bank benefits from very high liquidity, owing to its prudent treasury management policies, favourable debt structure and strong market access.

Mercer launches FX transaction cost monitoring service

Wednesday, 25 January 2012
Mercer launches FX transaction cost monitoring service Mercer has launched a new and enhanced foreign exchange (FX) transaction cost monitoring service to ensure institutional investors are aware of how much transacting in foreign exchange is costing them. http://www.ftseglobalmarkets.com/

Mercer has launched a new and enhanced foreign exchange (FX) transaction cost monitoring service to ensure institutional investors are aware of how much transacting in foreign exchange is costing them.

Historically, FX costs have been opaque and very hard to manage and the new service is designed to help bring greater clarity and control of FX costs. The launch of this service reflects the growing interest that investors are paying to foreign exchange execution costs following recent lawsuits against a number of institutions alleged to have applied uncompetitive foreign exchange rates.  

Due to the opaque nature of FX markets there has been a lack of investor oversight on FX transactions often leading investors to pay more for trades than they should, which can erode the value of their assets considerably. Through Mercer’s new service, pension funds and other institutional investors can request reviews of all spot and forward FX transactions undertaken at multiple trading locations to determine the competitiveness of transactions undertaken on their behalf. It is Mercer’s experience that FX costs can be substantially reduced by undertaking an FX monitoring programme.

Ben Gunnee, European director at Mercer Sentinel, says: “Many investors focus their attention on the overall portfolio performance rather than drivers of cost. This often means that perfectly avoidable costs are incurred. Our enhanced FX service provides clear analysis and recommendations on how to address current excessive costs and prevent recurrence.”

Related News

Related Articles

Related Blogs

Related Videos

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP