Exchange traded fund
ETP boom fuels concern over counterparty risk
GLOBAL - Issuance of currency-linked exchange-traded products (ETPs) has soared in the past year, but concerns are emerging over the counterparty risks inherent in these products.
WisdomTree adds EM ETFs
NEW YORK - WisdomTree, a New York-based guarantor, is set to introduce 25 new currency exchange-traded funds (ETFs), with a focus on emerging market currencies, as it continues to deepen its footprint in this market.
EM currencies will weather the storm
LONDON - Analysts at Barings and State Street Global Advisors (SSgA) expect emerging market (EM) currencies to continue on a trajectory of strength, despite suffering bouts of weaknesses amid the current market turmoil.
Multi-currency products ride the storm
NEW YORK - Wisdom Tree has confirmed its plans to launch its first multi-currency exchange-traded fund (ETF), as single currency exchange-traded products take the brunt of the rising dollar.
Emerging market ETFs booming
ROCKVILLE, MD - Rockville-based Rydex Investments is set to launch four currency exchange-traded products linked to emerging market currencies at the end of the month, as the market for these products grows.
More currency ETFs hit US
NEW YORK - Two more currency-linked exchange-traded funds (ETFs) were listed on the New York Stock Exchange's NYSE Arca on June 25.
Investors keen on double-short euro ETNs
NEW YORK - Morgan Stanley's Market Vectors double-long leveraged euro exchange-traded notes (ETNs) have outperformed their double-short counterparts by almost 30 times in trading volumes.
SPDR Gold Trust to trade futures and options
WASHINGTON, DC - US regulators approved trading and clearing for futures and options based on the Standard & Poor's Depositary Receipts (SPDR) Gold Trust, an exchange-traded fund (ETF), on June 2.
Reversal of fortunes for Parker FX
STAMFORD, CT – The Parker FX index reported a return of 1.40% in September, with managers benefiting from a declining greenback.
SSgA hits $100 billion mark
LONDON – State Street Global Advisors (SSgA), the investment management arm of State Street, has reached $100 billion in assets under management for its currency strategies.
AXA IM forex fund targets institutional investors
LONDON – AXA Investment Managers (AXA IM) has launched its first active FX fund since creating a new currency management team last July.
Parker FX index reports flat returns for January
STAMFORD, CT - The Parker FX index has reported a flat return for January, with exactly half its indexed programmes reporting positive results, and the remaining half reporting losses.
AXA IM adds currency management team
LONDON – AXA Investment Managers (AXA IM) is building up its FX capabilities with a new currency management team in London.
Fund launch from Russell
DUBLIN – Russell Investment Group has launched a multi-manager currency fund to offer investors a way of diversifying their portfolios.
Demand for ETFs at an all-time high
BASEL – Demand for exchange-traded futures and options contracts reached an all-time high last year, with annual turnover up 22% on 2004, according to the latest quarterly data released by the Bank for International Settlements (BIS).
Hedge fund signing for Deutsche Bank's Select
FRANKFURT - Deutsche Bank has added to its FX Select platform by signing Sagio's new FX hedge fund, according to FX Week sister publication Hedge Funds Review .
NYSE launches euro-linked shares
NEW YORK – The New York Stock Exchange (NYSE) last week launched shares linked to the euro, demonstrating the growing demand for exchange-traded currency products.
Managers turn to options
LONDON – Currency managers are increasingly turning to options to derive returns from implied volatility in the currency markets.
The unitised managed assets solution
Packaging FX into a fund that retail investors can get easy access to is not straightforward, say Jan Vandendriessche, director, managed assets development, and Stephan Martinussen, senior manager, sales trading at Saxo Bank. They advocate setting up a…
Pension funds scramble for FX management
LONDON – UK pension funds' demand for foreign exchange management has gone through the roof over the past year, as trustees and managers seek to limit risk and improve returns.
Dollar move boosts State Street’s revenues
BOSTON -- Sustained currency market trends, including the continued US dollar downturn, helped State Street increase its profits from FX dealing 30% year-on-year, according to its 2003 financial results published last week.
Amex and HVB FX results growing
MUNICH -- American Express Bank saw a modest uptick in its Q3 FX trading revenues, with $54 million in FX income, up from $50 million for Q3, 2002.
State St to launch FX fund in fourth quarter
LONDON -- State Street Global Advisors (SSgA), the investment management arm of State Street, is set to launch a currency fund in the fourth quarter as part of its newly created hedge fund strategies group, a senior official at the firm told FX Week .
Amex Bank results jump
American Express Bank last week reported year-on-year growth of 30% in revenues from FX trading for the first half of 2003.