Exchange-traded Funds
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.
Cashflow control for pension portfolio hedges
Neil Record, chairman and chief executive officer of Windsor-based currency overlay manager Record Currency Management, offers a solution to an FX-related problem facing a UK pension fund
Amex Bank’s FX revenues rising
BOSTON -- American Express Bank last week announced an uptick in its FX revenues for 2002. Amex reported foreign exchange income and other, undefined, trading revenues for full-year 2002 of $170 million, up 18% from $144 million in 2001.
Goldman's plan pays off
NEW YORK -- Goldman Sachs’ five year investment in foreign exchange is paying off, according to US banks’ financial results published last week.