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Swiss Regulator Puts UBS on Tight Leash
November 26, 2012--Less than a week after a former employee was convicted in a $2.3 billion trading fraud, UBS AG UBS was slapped with a nearly $50 million fine by British authorities, and Swiss regulators announced restrictive measures, including a ban on investment-banking acquisitions by the firm.
Britain's Financial Services Authority said Monday that it fined the Zurich-based bank £29.7 million ($47.6 million) over the 2011 rogue-trading incident. The fine, which ranks among the largest ever imposed by the U.K. regulator, had been expected.
Luxembourg ends Ucits promoters' role
November 25, 2012--The Luxembourg financial regulator has issued a circular that effectively ends the use of promoters, companies which were used to guarantee the financial stability of Ucits funds.
Under the previous rules, the promoter of a Ucits fund had to offer an ultimate financial guarantee to investors for the actions of the management company and the Ucits fund.
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Source: FT.com
EU budget summit ends without deal: EU
November 23, 2012--A European Union summit wound up Friday with "no agreement" sealed for the bloc's next long-term budget, officials from several EU delegations said.
"There is no agreement," one official said.
With the 27 heads of state and government bitterly divided over spending policy, there had been little hope of a deal on a trillioneuro budget for 2014-20 during the two-day summit.
read more
Source: EUbusiness
Societe Generale : vers la cession de Newedge?
23 nov. 2012-Nouvelle cession en vue pour la Société Générale et le Crédit Agricole ? Selon "Les Echos" qui cite des sources de marché, des discussions ont lieu avec des banques et courtiers pour une vente de la société de courtage Newedge, codétenue par les deux établissements français.
Une cession en plusieurs parties pourrait être envisagée, en séparant l'exécution du "clearing" (compensation) et des restructurations seraient par ailleurs à l'étude, précise le quotidien.
German growth slows in euro crisis: official data
The data are adjusted for inflation and take into account seasonal and calendar effects. view more
German growth slows in euro crisis: official data
The data are adjusted for inflation and take into account seasonal and calendar effects. view more
Austrian boutique launches multi-asset fund
The new fund will not rely on return forecasts but rather automatically adjust its weightings according to market trends, Kula, who left the Walser Private Bank last April, told Citywire Global.
read more Natixis AM launches dedicated SRI unit
It will be led by Philippe Zaouati, the firm's deputy managing director, and groups together all the responsible investment expertise of Natixis AM under one roof. read more
Market Vectors Index Solutions Launches Six Unique Hedge Fund Beta Indices view more
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Source: Boursier
November 23, 2012--Germany's economy slowed to 0.2 percent growth in the third quarter of 2012 as the eurozone crisis took its toll, final official data showed on Friday.
Europe's top economy grew by 0.2 percent from July to September compared to the previous three months, according to the federal statistics office Destatis confirming previous provisional figures.
Source: EUbusiness
November 23, 2012--Germany's economy slowed to 0.2 percent growth in the third quarter of 2012 as the eurozone crisis took its toll, final official data showed on Friday.
Europe's top economy grew by 0.2 percent from July to September compared to the previous three months, according to the federal statistics office Destatis confirming previous provisional figures.
Source: EUbusiness
The newly-formed firm is set to launch a multi-asset fund focused on the German market and also plans its own range of ETFs.
November 22, 2012--The founder of Austrian boutique MYRA Capital Gökhan Kula is set to launch a new multi asset fund which will focus on the German market.
The Luxembourg-domiciled fund is set to be launched in January and will follow a similar strategy to his previous fund at Walser Private Bank, where he helped introduce the use of passive strategies in multi-asset allocation.
Source: CityWire
November 22, 2012--The French giant has created a new unit dedicated to responsible investment.
Natixis Asset Management has announced the creation of an investment division dedicated to responsible investment.
The French group's new Mirova unit will offer investors long term investment solutions which integrate sustainable development concepts and is available to institutional investors, corporates, multi-managers and other institutions.
Source: CityWire
Indices employ patented methodology to track hedge fund "betas" using liquid ETFs
November 21, 2012--Market Vectors Index Solutions (MVIS) today introduced the Market Vectors Hedge Fund Beta Indices, a set of four regional and two global indices of Long/Short Equity hedge funds.
The regional Long/Short Equity indices cover Developed Asia, Emerging Markets, North America and Western Europe. The global indices cover Global Long/Short Equity and Global Event Long/Short Equity.
Each index seeks to capture the systematic returns (“beta”) of hedge funds with similar investment styles that invest in the same asset classes and same geographic markets. Market Vectors Hedge Fund Beta Indices employ a patented rating and ranking system that filters out funds with low beta as compared to their hedge fund peer group, enhancing the indices’ risk-adjusted returns. Each index is constructed using transparent, liquid ETFs to produce hedge fund-style returns.
Source: Market Vectors Index Solutions GmbH (MVIS)
November 20, 2012--The most recent issue of the European Weekly ETF Market Review is now available.
The report includes key statistics on the European ETF market as well as global ETF market highlights. For more detailed coverage please refer to our monthly report, issued in the first week following the end of each month.
Source: Deutsche Bank - Synthetic Equity & Index Strategy - Europe
