Friday 22nd May 2015
NEWS TICKER: THURSDAY, MAY 21th: Moody's Japan has assigned rating of A1 to total of $2.5bn bonds due 2020 and 2025 issued by Japan Bank for International Cooperation (JBIC). The rating outlook is stable.The debts are guaranteed by the Government of Japan. The specific debt issues rated are $1bn Fixed Rate bonds, Series 11 JBIC Government-Guaranteed Global USD Bond due 2020 and $1.5bn Fixed Rate bonds, Series 12 JBIC Government-Guaranteed Global USD Bond due 2025. Moody's concludes that the creditworthiness of JBIC reflects that of the sovereign, given the integration of its mandate with the government's foreign economic policies and the high level of government oversight of its operations – Salvepar’s combined general shareholders meeting yesterday approved a proposed ordinary dividend for fiscal year 2014 of €2.20 per ordinary share, and has decided that each shareholder will be allowed to opt for the payment of the dividend in full in cash, or for the payment of the dividend in full in ordinary shares, or for the payment half in cash and half in ordinary shares. The option to receive the dividend payment in new shares can be exercised by the Company’s shareholders between May 28th, 2015 and June 10th, 2015 (inclusive. After June 10th, 2015, the dividend can only be paid in cash. The maximum aggregate number of new ordinary shares of the company which may be issued is 455,888 shares, which represents 6.65% of the share capital and voting rights of the company as at the date of the General Meeting - Two WisdomTree equity index ETFs launched on Xetra ETFs based on Japanese and European companies with strong dividends - plus a currency hedge. Two new exchange-listed index funds issued by WisdomTree have been tradable on Xetra since Thursday. WisdomTree is primarily a Smart Beta ETF provider, using fundamental data to weight companies in the reference index. The new WisdomTree ETFs weight the stock corporations contained in the reference index on the basis of the annual dividends they pay. Companies with higher dividend yields have a heavier weighting. WisdomTree Japan Equity UCITS ETF is a USD Hedged Asset class: equity index ETF (ISIN: DE000A14SLH0), with a total expense ratio: 0.48% and is benchmarked against the WisdomTree Japan Hedged Equity Index. The WisdomTree Japan Equity UCITS ETF - USD Hedged enables investors to participate in the performance of Japanese companies that generate at least 20% of their revenues outside Japan. The currency hedge covers the exchange rate risk of the Japanese yen to the US dollar. Meanwhile, the WisdomTree Europe Equity UCITS ETF - USD Hedged Asset class: equity index ETF (ISIN: DE000A14SLJ6) has a total expense ratio of 0.58%. The ETF provides access to the performance of European companies that generate at least 50 percent of their revenues outside Europe. This ETF also offers investors the additional benefit of the currency hedge, which reduces euro-US dollar exchange rate risk – PowerShares has launched an equity index ETF on Xetra, the first ETF for high dividend, low volatility US companies says the firm. PowerShares S&P 500 High Dividend Low Volatility UCITS ETF Asset class: equity index ETF (ISIN: IE00BWTN6Y99) has a total expense ratio of 0.39% and benchmarked against the S&P 500 Low Volatility High Dividend Index. The PowerShares S&P 500 High Dividend Low Volatility UCITS ETF provides investors access for the first time to performance of US companies with high dividend yields and low volatility. The reference index firstly comprises 75 companies with the highest dividend yields from the S&P 500, and then proceeds to identify the 50 with the lowest volatility - MTN Rwanda shareholder, Crystal Telecom, launched its much-awaited Initial Public Offering (IPO) this morning. The company is selling a 20% stake in MTN Rwanda, the largest telecom operator in the country, to the public. The move is part of the strategy by Crystal Ventures, the holding company, of monetising their mature holdings in firms with the intention of redeploying the capital in early-stage enterprises.The IPO comes after the Capital Market Authority approved Crystal Telecom's application to float its MTN Rwanda shares on the stock exchange. Once listed, Crystal Telecom will become the third domestic company with shares trading at the bourse, after Bank of Kigali and Bralirwa. The last IPO at the stock exchange was in 2011 when Bank of Kigali listed its shares for trade at RWF125 each. Crystal Telecom shares starting price will be announced during the launch - Welltec’s revenues reduced in the first quarter of 2015 as mar¬ket activity contracted sharply in response to the lower oil price. This overshadowed growth in some geomarkets and the de¬cline in revenue was accentuated by strong currency headwinds. EBITDA reduced accordingly, with margin impacted by lower levels of utilisation and increased redeployment of fleet and per¬sonnel to match the local demand. Proactive cost management and working capital discipline allowed for improved cash flows in the period. Revenues of $68m were 14% lower compared to the same period last year. On an adjusted currency basis rev¬enues were 7% lower. In Europe, Middle East, Africa and Russia CIS (EMEAR), revenues decreased by 22% to $33m. Revenues in the Americas fell 8% to $25m, while Asia Pacific revenues were level at $10m.

Troika Dialog launches UCITS-compliant funds focused on Russia

Monday, 23 April 2012
Troika Dialog launches UCITS-compliant funds focused on Russia Troika Dialog Asset Management today announces the launch of Luxembourg based UCITS umbrella – Troika Dialog UCITS SICAV with two funds focused on Russia. The funds will offer international investors access to the Russian equity and bond markets. Each fund will be seeded with $50m. Sberbank, Russia’s largest bank, will be the key investor. The funds will be managed by the team of experienced investment professionals and will adhere to the same investment principles and follow the same investment process as the rest of the company’s investment products. http://www.ftseglobalmarkets.com/

Troika Dialog Asset Management today announces the launch of Luxembourg based UCITS umbrella – Troika Dialog UCITS SICAV with two funds focused on Russia. The funds will offer international investors access to the Russian equity and bond markets. Each fund will be seeded with $50m. Sberbank, Russia’s largest bank, will be the key investor. The funds will be managed by the team of experienced investment professionals and will adhere to the same investment principles and follow the same investment process as the rest of the company’s investment products.

The Russian Long Term Capital Appreciation Fund will invest in a diversified portfolio of Russian equities, including blue chips, mid- and small cap stocks. The fund will source  ideas from existing fund strategies, such as the flagship Dobrynia Nikitich fund (launched in 1997) and the small cap Potential fund (launched in 2005). The Russian Fixed Income Fund meanwhile will invest in a portfolio of ruble-denominated sovereign, municipal and corporate bonds with medium to long term duration and high credit quality. The fund will focus on issuers with expected improvement in credit quality and / or rating upgrades and will be similar to Troika’s flagship fixed income Ilya Muromets fund (launched in 1996).

 

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