Friday 27th March 2015
NEWS TICKER, FRIDAY MARCH 27th 2015: Moody's Investors Service has assigned an A2 rating (stable outlook) to the certificates of deposit issued by Barclays Bank Plc, New York Branch. The certificates of deposits will be direct, unsecured, senior obligations of Barclays Bank plc, issued by its New York Branch and will rank pari passu with all other present and future unsecured and unsubordinated obligations of Barclays Bank Plc - The Straits Times Index (STI) ended +18.51 points higher or +0.54% to 3450.1, taking the year-to-date performance to +2.52%. The FTSE ST Mid Cap Index gained +0.18% while the FTSE ST Small Cap Index gained +0.47%. The top active stocks were SingTel (+1.38%), DBS (-0.15%), UOB (+1.13%), Golden Agri-Res (+7.41%) and Keppel Corp (-1.11%). The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+2.32%). The two biggest stocks of the FTSE ST Basic Materials Index are Midas Holdings (unchanged) and Geo Energy Resources (-0.51%). The underperforming sector was the FTSE ST Oil & Gas Index, which declined -1.06% with Keppel Corp’s share price declining -1.11% and Sembcorp Industries’ share price declining -1.15%. The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (-1.43%), SPDR Gold Shares (-1.19%), iShares USD Asia HY Bond ETF (+1.05%). The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-0.92%), Suntec REIT (unchanged), CapitaCom Trust (-1.13%)
North America

State Street Global Exchange today released the results of the State Street Investor Confidence Index (ICI) for February 2015. The Global ICI decreased to 105.2, down 1.4 points from January’s revised reading of 106.6. Confidence among European investors declined the most, with the European ICI falling 8.2 points to 105.9, down from January’s revised reading of 114.1, while in Asia the ICI fell by 5.3 points to 93.8. However, the North American ICI rose by 3.1 points to 104.3.

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Fidessa group plc (LSE: FDSA) today announced a key appointment for its sell-side business, Jay Biancamano is now head of equities product marketing for the Americas. Based in New York and reporting to James Blackburn, global head of equities product marketing, Biancamano will focus on driving the strategic direction of Fidessa's sell-side equities products to provide new and innovative services to its clients which deliver them real business value.

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Apex Fund Services, the independent fund administrator, has appointed Dennis Westley as managing director, North America with immediate effect. Westley will have responsibility for growing Apex’s North American operations and integrating potential acquisitions. Reporting directly to Apex’s Global CEO, Bill Salus, Westley will also manage Apex’s offices in New York, New Jersey, Florida and Toronto.

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Fitch Ratings-New York-09 February 2015: North American Exploration and Production (E&P) companies continued to announce reductions to 2015 capital spending in Q4 earnings calls as a function of lower oil prices, according to Fitch Ratings. Capex cuts are ongoing as the price of West Texas Intermediate has dropped over 50% since July of last year, and now stands at just over $50/barrel.

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Kames Capital has added to its equity capabilities with the appointment of Matt Harding. Harding joins the team as an investment analyst focussing on North American equities, reporting to Marcus Chandler, Kames’ head of North American equities.

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Aviva Investors will manage a new global tactical asset allocation retail mutual fund which is intended to address demand for risk-managed options for equity allocations, and is the latest addition to Virtus’ portfolio of open-ended mutual funds.

The Aviva Investors Multi Strategy range, AIMS, launched in the UK on the 1st of July 2014 and has since gathered over £480 million in assets* from investors looking for products that clearly align with their investment goals. Aviva Investors’ Target Return Fund aims to provide a specified target return by investing in a globally-diversified multi strategy portfolio, while limiting the volatility of those returns compared with global equities.

Commenting on the strategic partnership, Euan Munro, chief executive officer of Aviva Investors says: “Key to our approach is a commitment to delivering outcomes central to investors’ financial well-being and clearly aligned to their investment goals. We believe that our range of solutions can appeal to a broad set of investors from around the world, who in the current low-yield environment are seeking to secure positive returns across various market conditions.

“We’re delighted to be working with Virtus, as not only will the partnership widen Aviva Investors global distribution footprint by providing access to Virtus’ strong product development and distribution capabilities, it will also provide US retail clients with access to Aviva Investors’ specific expertise in the management of outcome-oriented multi-strategy solutions.” 

George R Aylward, president and chief executive officer of Virtus, adds: "When we develop new investment solutions for the mutual fund market, we want to get the best strategies from high-quality investment managers, so we look forward to working with Aviva Investors to offer multi-strategy investment solutions and then adding Aviva Investors as a manager as we expand into other strategies.

"We are particularly pleased to work with Aviva Investors Chief Executive, Euan Munro, who has been a pioneer in the development of multi-strategy investment solutions.  His team has specialised in using a collaborative, disciplined, transparent approach that seeks to create consistent and explainable performance in up and down markets.” The fund is expected to be available to investors in the second quarter of 2015 subject to regulatory approval.

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Wednesday, 03 December 2014

LGIMA launches US index fund business

[Legal & General Investment Management America Inc (LGIMA), a Chicago-based registered investment advisor, has launched its US index fund management business, which builds on the firm’s core fixed-income and liability-driven offerings.

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The Fixed Income Clearing Corporation (FICC) has filed a rule change application with the US Securities and Exchange Commission (SEC). The proposed rule change consists of amendments to the rules of the Government Securities Division (GSD Rules) and the Mortgage-Backed Securities Division (MBSD Rules) of FICC should the corporation ever default and provides clarity to member firms 

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