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Ruble, ruble, oil and trouble
trueIt's natural to wonder if, like the three witches in Macbeth, the year's events are harbingers for additional strife and trouble. However, if one were to heed the negative headlines and "pack it in" for 2015, one is likely to miss the opportunities that currently present themselves as fear ...
Managers surprised by scope of ECB's bond-buying program
trueThe European Central Bank announced it will begin €60 billion ($69.4 billion) of public and private debt purchases per month as part of a quantitative easing strategy, in what money managers said was a surprise move in terms of size and one that is expected to further weaken the euro and spark ...
Kansas Public Employees charts currency overlay search, commits $240 million
trueKansas Public Employees Retirement System will issue an RFP for a firm to provide currency overlay management services in the second half of 2015.
Casualties from Swiss franc shock spread
trueShares in the largest U.S. retail foreign-exchange brokerage slumped in pre-market trading and their opening was delayed in New York as upheaval caused by a surge in the Swiss franc rippled from New Zealand to the U.S.
Swiss central bank scraps minimum linkup with euro
trueThe Swiss National Bank, the central bank for Switzerland, abandoned its minimum exchange rate vs. the euro due to a weakened value against the dollar as a result of increased monetary policy divergence.
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trueOne of the most obvious outcomes of diverging monetary policy has been the depreciation of currencies in an effort to make markets more attractive. The euro vs. dollar was at 1.23 on Dec. 18, compared with 1.37 for the same date in 2013.
Institutions wary about Russia
trueFalling oil prices, a plummeting currency, sanctions and the threat of capital controls in Russia are forcing investors and index providers to intensify their focus on that market.
New concerns arise for asset owners, but an old one never left
trueAsset owners will have some relatively new worries in 2015 — geopolitical risk, oil-price declines and the impact of changes in mortality tables on funding — but there’s also a familiar concern revolving around interest rates.
Regulators levy $4.4 billion in fines on banks for forex manipulation
trueCitibank, HSBC, J.P. Morgan Chase, Royal Bank of Scotland and UBS received a combined $3.4 billion in penalties from U.S., U.K. and Swiss regulators for manipulating foreign exchange benchmark rates to benefit certain traders from 2008 to 2013.
Milwaukee County Employees goes with Northern Trust for cash overlay
trueMilwaukee County Employees’ Retirement System, hired Northern Trust for cash overlay services to manage an exposure ranging between $30 million and $60 million.
Future Fund goes heavy on currency exposure
trueAustralia's Future Fund has boosted the foreign currency exposure of its A$104.5 billion (US$91.5 billion) portfolio to record levels to preserve flexibility and boost resilience to liquidity shocks.
Canadian pension funds return 1.1% in quarter on foreign currency gains
trueCanadian defined benefit plans in the RBC Investor & Treasury Services universe returned 1.1% in the third quarter and 8.6% for the first nine months of 2014.
FX professionals launch industry group, pick officers
trueForeign Exchange Professionals Association, a group representing participants in FX trading, debuted Thursday.
Adrian Lee & Partners hires former FX Concepts vice chairman
trueJonathan Clark joined Adrian Lee & Partners as head of new product/business development.
S&P Dow Jones: Pound-denominated equity funds blister past benchmarks
trueThe majority of U.K. and European actively managed equity funds denominated in pounds outperformed their benchmarks over 2013, while euro-denominated funds lagged.