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September 2007

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LATEST ARTICLES

  • The 2007 guide to Portugal: download PDF
  • Do you know your Apportionment from your Binary Options? Your Collateralized Obligations from your Gross Redemption Yields? If not, you needn’t look any further as this exclusive downloadable guide brought to you by Euromoney has over 30 pages of terminology from the financial industry explained.

    A degree of blurring and overlapping in the terminology of the banking, insurance and investment management industries has been inevitable. This guide aims to demystify many of those terms, bringing some of the more frequently used technical expressions in all three disciplines into a concise, single volume. We hope it will serve as a useful guide for market participants in all three areas of the financial services sector.
  • Are you fully up to date with developments on Europe's exchange traded fund market? With experts predicting rapid growth in the next few years and demand for the product from both institutional and retail investors intensifying, it is essential for industry professionals to keep ahead of the game.
  • Published in conjunction with: Global Investment House • SAMBA Financial Group
  • Latin America is on the move, undergoing an investment and financing boom unprecedented in its history. Latin American companies are acquiring globally, expanding regionally, and investing heavily in productive capacity, and R&D. Infrastructure projects are proliferating throughout the region. These developments reflect the region’s positive economic backdrop and corporate confidence in the economic policies and political stability that have come to characterize most of the region for the past few years.
  • Published in conjunction with: ABN AMRO Private Banking • Banco Urquijo • Bank Delen • Bank Gutmann • Citi Global Wealth Management International • Eurobank EFG Private Banking • Marfi n Popular Bank • Sal Oppenheim • SG Private Banking • Yapi Kredi Private Banking
  • The disappearance of both CP investors and ABS buyers in August had grave consequences for those vehicles that rely on both.
  • Repricing in the leveraged loan market means that some CLO managers have been having a field day.
  • Indonesian companies have chosen to fund their businesses in esoteric ways, and that may be at the expense of developing a mature equity market. Old habits will prove tough to change. Chris Leahy reports.
  • The Brazilian has brought a sense of euphoria back to the country and established it one of the four key emerging nations, as part of the Bric group.
  • Africa is the last frontier. There is nowhere attracting more pioneers than Nigeria. With its large and innovative workforce, its attractions are obvious. But is it safe as an investment? Rupert Wright reports from Lagos.
  • UBS may want to forget much of this year following the closure of its hedge fund, the departure of senior personnel and a profits warning for the second half of the year. Some investors are even calling for the group to sell its underperforming investment bank. Could the saving grace be its emerging markets business? Sudip Roy asks Huw Jenkins, CEO of the investment bank.
  • Sinan Al-Shabibi, governor of the Central Bank of Iraq, speaks to Sudip Roy about the bank’s efforts to control inflation, curb exchange rate instability and cope with the difficult security situation.
  • Man is the world’s largest hedge fund group, with more than $65 billion in assets. It also claims to be the greenest hedge fund. CEO Peter Clarke tells Helen Avery how alternative investment firms can offer the returns investors want and play a positive role in preventing climate change.
  • "Our aim is to provide long-term capital growth from an investment portfolio consisting of Iraqi and Iraqi-dependent securities." So reads the opening line of a monthly report for the Babylon Fund, a long-only mutual fund run by Godvig Capital Management, which is domiciled in the British Virgin Islands.
  • Families have always dominated the economies of the Gulf, controlling huge amounts of wealth and influence but traditionally unwilling to open up their capital – and their books – to the outside world. That model is gradually starting to change, says Alex Warren.
  • Brazil plans to allow the country’s mutual funds, which have $525 billion in assets, to invest an unlimited proportion of their portfolios in overseas assets by the end of this year.
  • Søren Elbech has been appointed chief of the treasury division of the Inter-American Development Bank. Although his is technically a new position he effectively supplants Hakan Lonaus, chief of the capital markets division, finance department. Elbech joins from Eksportfinans, where he was executive vice-president, director of treasury. He will leave the Norwegian export finance agency at the end of this November. Also leaving Eksportfinans is Oliver Siem, head of funding, deputy director of treasury, who is taking a career break.
  • It’s hard to empathize with the faceless investment bank and institutional investor victims of the sub-prime crash. What’s really needed is an individual whose story people can relate to.
  • NBG, Greece’s largest bank, is doing well out of a domestic growth surge but has recognized the need to find the fastest-growing, most profitable parts of the market. The same strategy is being applied to its ambitious expansion programme abroad. Laurence Neville reports.
  • The Dubai International Financial Exchange (DIFX) has set up a dedicated structured products market segment to help facilitate the trading of derivatives-based and other structured investments in the region.
  • Net jumbo Pfandbrief issuance is likely be down again this year for the third year running, while structured covered bond issuance grows apace. This is generating some bitter debate about just how much investors understand the difference between the two types of debt. Louise Bowman reports.
  • Three years ago Khazanah, Malaysia’s state investment body, was instructed to become activist, holding on to most of the state’s corporate holdings rather than privatizing them, and setting tight performance targets. Chris Wright assesses the successful reconstructions, such as Malaysia Airlines, and those still under way, as at car maker Proton.
  • Bankers at Citi’s Asian headquarters in Hong Kong were stunned when Jeremy Amias, managing director and head of fixed income, currencies and commodities for the region, resigned late in August to join Noble Group, a Hong Kong-based supply chain manager of commodities and other resources products, as chief operating officer – finance.
  • Liquidity in the global debt and bank markets is scarce but judging by the action of Brazil’s leading private equity firm, the financial crisis has yet to hit Latin America’s biggest economy. São Paulo-based GP Investments has entered into one of the biggest leveraged buyouts in Brazil, in what is expected to be the first of many similar transactions. In August, the private equity firm agreed to acquire 100% of Pride International’s Latin American Land Drilling and E&P Services businesses for $1 billion in cash. The transaction is expected to close by the end of the third quarter.
  • Despite growing market volatility and the fallout from the US sub-prime crisis, Latin American stock markets remain hugely profitable after a three-year bull run. Investors worldwide are keen to get a piece of the action. With plans for regional stock exchanges and cross-border trading still at the draft stage, investors are turning to exchange-traded funds (ETFs) to get exposure to such equity markets as Brazil’s Bovespa and Mexico’s IPC index and tap into high-yielding shares.
  • In the wake of the August 1998 financial crisis, Russia’s regions became a banking wasteland. But on the back of this decade’s strong economic growth the regions are seeing a financial services renaissance. Guy Norton reports.
  • Chi-X, the pan European alternative trading system (ATS) operated by Instinet, is starting to make waves, winning significant market share in certain stocks on some days.