Hedge funds

Was it Abbey that prompted the Bank of Spain to level the playing field?

Deutsche Bank's disposal of its UK asset management business (DeAM UK) and Philadelphia-based active fixed-income business to Aberdeen Asset Management will be a great relief to the bank's senior board members. The UK unit has been in dire straits in the past two years, haemorrhaging staff and losing a series of pension fund mandates. In 2004 alone, the businesses sold made losses of £77 million ($135 million).

Private-equity funds are uncovering new ways to invest in Africa

A neat theory has it that long-term interest rates are stubbornly low because of excess savings in Asia. But the Federal Reserve can't get off the hook that easily

Most surprising acquisition of the month

Managers seek better returns in increasingly influential asset class

European high-yield market faces a €6 billion test

It has been a glorious first half of the year for global structured finance, with volumes outperforming the plain vanilla universe for the fourth year in a row. The total rocketed up by more than a quarter, to $1.2 trillion from $944.6 billion during the first half of 2004.

The cash bond trading index has launched a US version

Unsecured debt markets are still open for GMAC and Ford

End of an era

The CME and CBOT look to be the most likely candidates for a tie-up, despite their long-standing rivalry

Doubts, though, emerge over portal's sustainability

Global consultancy and software provider Anvil has seized the opportunity to become the first company to design a cross-asset margining tool. In essence, the new system, dubbed Anvil Margin, will help traders, middle offices and back offices to manage collateral more effectively by operating on a multi-asset class basis. "This new product has been driven by emerging trends in the industry," says Phil Buck, CEO of North America at Anvil. "Market participants are becoming far more focused on cross-asset margining, for the simple reason that it's more efficient."

G8 agreement could spur development

Venezuela's president considers buying Ecuador bond

Taiwan: merger of equals kicks off consolidation

Argentina: Dollar bond revival

CSN becomes latest Brazilian borrower to issue new product

Money flowing into company and private pension plans in the Asia-Pacific region is expected to increase rapidly, creating new opportunities for fund managers.

Saudi Arabia: investment incentives

Soul from Seoul wows the rest of Asia

Rumour mill grinds on as Temasek invests in CCB

Credit card bad loans to rise but business still highly profitable

"£875m for The Priory! Why buy it? Maybe they have a view on the secular growth in the bulimic market"

Banks seek more tools to serve growing asset management clientbase on FXall

In buying MBNA at the end of June, Bank of America pulled off a headline-grabbing deal. At $35 billion in stock and cash, it's the second-largest financial services deal since JPMorgan Chase bought Bank One last year and the second-largest deal overall this year after Procter &Gamble's purchase of Gillette. It was brokered largely by BoA chairman and CEO Kenneth Lewis, who in a matter of days stole one of the most prized monoline credit card companies from under the noses of such rival banks as Wachovia.

Prime minister faces growing discontent in coalition

Smart investors seek out the SARs