All articles by Verdict Staff
Verdict Staff
US money market funds boost European exposure by 16%: Moodys
US-dollar Prime money market funds (MMFs) have increased their total exposure to European financial institutions by 16% (USD 27 billion) in the first two months of Q3 2013, according to Moodys Investors Service.
First hedge fund style ETF (QAI) tops US$500 million in assets: IndexIQ
The IQ Hedge Multi-Strategy Tracker ETF, the first hedge fund style ETF and the industry’s largest alternative exchange-traded fund, topped US$500 million in assets, it was announced by IndexIQ, the fund’s sponsor.
FWU Group issues asset-backed sukuk
FWU Group, a Munich-based financial services company, has issued a US$20 million five-year Islamic bond backed by insurance policies, according to a report published by Reuters.
Schroders appoints new portfolio manager for multi-asset team
Schroders Multi-Asset Investments and Portfolio Solutions business has appointed Ugo Montrucchio as its new portfolio manager on its multi-asset team based in London, with effect from January 2014.
UBS set to launch new global equity income fund
UBS is set to launch UBS Global Equity Income fund at the end of this month. The fund will invest in 100 equally weighted stocks in order to maintain its stock specific risk low.
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Bermuda creates new fund class providing fast-track registration
Bermuda has taken a new step to modernize its fund legislation which will make it faster, easier and more cost effective to establish investments funds in Bermuda.
Baker Tilly names new wealth management head
Baker Tilly has appointed John Porteous as head of wealth management following the firms acquisition of RSM Tenon.
Mattioli Woods releases new structured product
Mattioli Woods has released a new structured product in conjunction with Meteor.
JPMorgan Asset Management plans to cut 100 of 650 funds
JP Morgan Asset Management is to merge away more than 100 of its 650 funds across the US and Asia as part of a larger worldwide cull.
Janney expands presence in Connecticut with recent hires from Merrill Lynch
Janney Montgomery Scott has added five industry veterans to the firm’s West artford, Connecticut branch office, who collectively oversee more than US$900 million in client assets.