Offshore Capitalist

Category Archives: World Markets

Global recovery faces ’serious hurdles’ next year – World Bank

November 15, 2009 in Economics by Roy

The global economy faces serious hurdles next year including “large-scale” unemployment in rich nations, asset bubbles, and backsliding towards protectionism, the World Bank chief said on Friday.
In a sobering assessment of the fragile status of the economic recovery, Robert Zoellick outlined a list of potential pitfalls to a business forum on the sidelines of an [...]

An index-tracker for European high yield stocks

November 11, 2009 in ETFs, Funds by Roy

The investment objective of iShares DJ Euro STOXX Select Dividend is to provide investors with a total return, taking into account both capital and income returns, which reflects the return on the high dividend paying equity securities of the EMU.
iShares DJ Euro STOXX Select Dividend aims to track the Dow Jones EURO STOXX® Select Dividend [...]

Active versus Passive in European Property

November 9, 2009 in ETFs, Funds, Property, Theory by Roy

A fund mentioned on Offshore Capitalist recently is the Insinger de Beaufort Real Estate Equity Fund which invests in the shares of European REITs and real estate companies.
The objective of the fund is to generate superior risk-adjusted returns, by reducing the volatility and protecting the downside using shorts and derivatives.  In other words, it’s not [...]

A Closer Look At Global Property Markets

November 8, 2009 in ETFs, Property by Roy

Indices make a useful way to track market sectors.  Property is one example.  The FTSE EPRA/NAREIT Global Real Estate Index Series is a set of indices that let investors keep track of different regions of the global property market.
(EPRA = European Puplic Real Estate Associateion.  NAREIT = National Association of Real Estate Investment Trusts.)
Conveniently, many [...]

Australia’s resources boom set to grow: central bank

November 7, 2009 in Commodities, Economics by Roy

Australia’s resources boom is set to grow as Asian economies lead the global economic recovery, the country’s central bank said Friday as it lifted growth forecasts.
The Reserve Bank of Australia (RBA) said resources-driven exports had held up during the financial crisis and had been buoyed by strong expansion in the mining sector. The bank lifted [...]

APEC to maintain stimulus till recovery in place: draft

November 7, 2009 in Asia-Pacific, Economics by Roy

APEC leaders will maintain hefty stimulus packages until they secure a “durable” recovery from the global economic slowdown, according to a draft communique obtained by AFP Friday. “We will maintain our economic stimulus policies until a durable economic recovery is secured,” the draft said, stressing that “economic recovery is not yet on a solid footing”. [...]

UBS wealth unit takes £33m hit on rogue trades

November 6, 2009 in Legal and Regulatory by Roy

UBS has been forced to stump up £33m (€37m) after staff in its London-based wealth management division used client accounts to make unauthorised trades in precious metals and foreign exchange. The UK market regulator slammed UBS for its “inadequate systems and controls” in a wide-ranging critique of the business.
The Financial Services Authority fined UBS £8m, [...]

Jim Rogers ‘rogered’ by Roubini

November 5, 2009 in Economics, Gold by Roy

LONDON (Commodity Online): A gold forecast by global commodities guru Jim Rogers has turned controversial. Nouriel Roubini, the global economist who predicted the economic crisis, says the gold forecast by Jim Rogers that the yellow metal will double to $2,000 or more an ounce is “utter nonsense.”
“Maybe, gold will touch $1,100 or so but $1,500 [...]

An emerging markets fund for Russia, India and China

November 3, 2009 in China, Funds, India, Russia by Roy

From the factsheet:
FMG Rising 3 offers investors a unique access to Russia, India and China markets using the multimanager
concept. By investing with a mix of long-only and hedge fund managers, the Fund aims
to participate in the growth story for the next two decades whilst reducing the emerging market
risk.
Rising3 was the first country specific Russia, [...]

A monthly rebalanced commodities trading fund

November 3, 2009 in Commodities, Funds, Specialist by Roy

The CFP Funds SAV Fund (Strategy & Volatility) is a blend of two different multi-manager commodity trading funds, one with relatively high volatility (IQS fund) and one with lower volatility (CFL).  By rebalancing the 25%/75% blend each month, the objective of the SAV Fund is to obtain optimised growth in respect of lower volatility compared [...]

A European multi-manager real estate fund

November 3, 2009 in Funds, Property by Roy

The Insinger de Beaufort Real Estate Equity Fund invests in the shares of European REITs and real estate companies.
The objective of the fund is to generate superior risk-adjusted returns, by reducing the volatility and protecting the downside using shorts and derivatives. Security selection is based on the expected total returns of different real estate securities [...]

Latest Fund Asset Statistics from EFAMA

November 2, 2009 in Funds by Roy

Main Highlights in the Statistical Release from the European Fund and Asset Management Association
1. Investment fund assets worldwide increased 5.4 percent in the second quarter of 2009, to reach EUR 14.4 trillion at end June 2009. On a U.S. dollar-denominated basis, investment funds assets worldwide increased 12.0 percent in the [...]

IMA announces record year for investment sales

November 1, 2009 in Funds, Sector & Specialist Reports by Roy

28 October 2009: Investment fund statistics – September 2009
The Investment Management Association (IMA) today releases its figures for the fund management industry for September 2009.
Key findings:

Record net retail sales – the total for the first nine months of 2009 is more than the total achieved in the whole of 2000, the highest annual sales [...]

Dollar Could Surprise In 2010

November 1, 2009 in Currencies by Roy

The dollar/euro rate has surged from a low of around 1.25 in early 2009 to over 1.50 today, almost regaining its 2008 peak and renewing speculation that the dollar is facing sustained devaluation. While this cannot be ruled out, and the dollar faces formidable short-term pressure, there are good reasons to expect a rally over [...]

Bernie Madoff ‘astonished’ Feds missed his fraud

November 1, 2009 in Legal and Regulatory by Roy

It wasn’t enough for felonious Ponzi patriarch Bernard Madoff to bilk his clients of over $60 billion in assets. Now, the jailbird stock swindler is trash-talking about the very federal authorities who should have caught him and stopped the largest financial scam in history.
In a jailhouse interview released late Friday by H. David Kotz, the [...]

DJCHINA: The Dow Jones China Broad Index & Chart

October 28, 2009 in Charts, China by Roy

On May 28, 1996, in commemoration of the hundredth anniversary of the Dow Jones Industrial Average, Dow Jones & Company introduced its Dow Jones China Index series. As the first series of indexes developed by a global index provider for Mainland China’s stock markets, the Dow Jones China Indexes are designed to give investors worldwide [...]

China won’t sell dollars to buy gold

October 27, 2009 in Currencies, Economics, Gold by Roy

DUBAI Commodity Online: China is on a gold buying spree these days to ensure that the country overtakes the United States in gold reserves.
China, which is “underweight” on gold holdings, will increase buying as the economy expands, said Jeffrey Rhodes, chief executive officer of INTL Commodities DMCC. China’s 1,054 tons of gold represents less than [...]

Asian leaders pitch rival blocs to boost global clout

October 26, 2009 in Economics, Emerging Markets by Roy

Asian leaders heard competing plans from Australia and Japan for a massive EU-style community covering half the world’s population as they wrapped up their annual summit on Sunday.
The proposals at the meeting in Thailand come as the fractious region seeks to reduce its dependence on the United States and boost its global clout after recovering [...]

A global balanced portfolio fund

October 25, 2009 in Funds by Roy

AllianceBernstein Global Balanced Portfolio USD
The Portfolio seeks to achieve the highest total return consistent with the Investment Manager’s determination of reasonable risk. The strategy is designed for investors who seek a moderate tilt toward equity returns but also want risk diversification offered by debt securities and broad diversification of equity across styles, capitalization and geographic [...]

A dollar-denominated fund for global property

October 25, 2009 in Funds, Property by Roy

Henderson Horizon Global Property Equities Fund USD
The investment objective of the Global Property Equities Fund is to seek long term capital appreciation by investing in the quoted equity securities of companies or Real Estate Investment Trusts (or equivalents) listed or traded on a regulated market which derive the main part of their revenue from the [...]

A euro fund to invest in global property

October 25, 2009 in Funds, Property by Roy

Franklin Global Real Estate (EUR) Fund
The Fund’s investment objective is to maximise total investment return consisting of income and capital appreciation, by investing in real estate investment trusts (REITs) and other companies whose principal business is real estate oriented. The Fund will seek to invest in companies across a wide range of real estate sectors [...]

The Conference Board Leading Economic Index™ (LEI) for the U.S. Improves Again

October 25, 2009 in Economics by Roy

The Conference Board Leading Economic Index™ (LEI) for the U.S. increased 1.0 percent in September, following a 0.4 percent gain in August, and a 1.0 percent rise in July.
Click image to view full size.
“With the sixth consecutive increase, the LEI’s six-month growth rate has improved to its highest pace since 1983,” says Ataman Ozyildirim, Economist [...]

A fund to invest in a basic human need: Food

October 25, 2009 in Agriculturals, Funds by Roy

DWS Global Agribusiness
“That’s not new, but our idea to invest along all parts of the agribusiness chain is unique. We are the first to look all the way from the farm to fork. The global agribusiness industry is one of the fastest growing market segments and the potential of this global megatrend is enormous.
“As the [...]

Economist: Dollar decline is overblown

October 25, 2009 in Currencies, Economics by Roy

From The Economist on the worries over the recent dollar’s decline…
Dollar declinism is overblown. It exaggerates the scale of the slide and misunderstands its cause. Much of the recent weakness simply reverses the earlier safe-haven flight to dollars, a sign of investors’ optimism about riskier assets rather than their fears about America’s currency. On a [...]

Surprise: UK Still In Recession

October 25, 2009 in Economics by Roy

Statistics from the ONS show that the UK’s GDP contracted third quarter of 2009.  Unlike peers such as France and Germany, the UK is still in technical recession.
Gross Domestic Product (GDP) decreased by 0.4 per cent in the third quarter of 2009, compared with a decrease of 0.6 per cent in the second quarter. The [...]

Japan’s trade surplus hits 18-month high

October 25, 2009 in Japan by Roy

Japan’s trade surplus soared almost six-fold last month from a year earlier, hitting an 18-month high on the back of recovering demand in China and other Asian countries, data showed on Thursday. Exports exceeded imports for an eighth straight month, although they remain sharply lower than before the current global economic slump began. Asia’s biggest [...]

A Balanced Fund For Bonds and Global Equities

October 20, 2009 in Funds by Roy

Fidelity Funds Growth and Income USD

A more conservative approach towards seeking high current income and capital growth primarily through investment in a combination of equities and bonds. This fund will appeal to investors seeking regular income and moderate capital growth but who prefer a lower level of risk than that normally associated with equity investment [...]

An Emerging Market Bond Fund

October 20, 2009 in Bonds, Funds by Roy

Threadneedle Emerging Market Bond Fund USD

The fund aims to achieve a total return primarily by way of income with some capital growth. The fund invests primarily in the assets of high yielding public sector sovereign and corporate bonds issued by emerging market borrowers, typically these countries are outside the OECD. The fund may also invest [...]

A Fund For Mining, Metals and Energy Natural Resources

October 20, 2009 in Energy, Funds, Gold, Metals, Mining by Roy

JP Morgan Natural Resources (a UK OEIC) is a highly respected fund managed by Ian Henderson, with colleague Stuart Connell.  With an overall Morningstar 4-Star rating, the fund’s objective is long term growth by investing primarily of shares in companies throughout the world engaged in the production and marketing of commodities.
As at today’s date, the [...]

AAA-rated Ezra Sun: You should invest at least 25% of your portfolio in Asia

October 15, 2009 in Asia-Pacific, Videos by Roy

WORLD’S 50 SAFEST BANKS 2009

October 15, 2009 in Banking by Roy

GLOBAL FINANCE WORLD’S 50 SAFEST BANKS 2009

EBRD revises down 2009 economic forecasts, sees fragile recovery in 2010

October 15, 2009 in Eastern Europe, Economics, Russia by Roy

The economies of central and eastern Europe are expected to contract by an average of 6.3 per cent in 2009 following steep output declines in the first half of the year. Signs of positive growth in the third quarter of 2009 suggest that the recession is now bottoming out in many countries of the EBRD [...]

Lower household debt will stunt economic recovery

October 15, 2009 in Economics by Roy

The failure of banks to lend will stall economic recovery in the developed world, as households take on less debt than before and so reduce demand, according to Legal & General Investment Management LGIM.
LGIM economist James Carrick pictured said that while policymakers in the developed world have been working to encourage banks to resume lending [...]

A Loser’s Game

October 15, 2009 in Theory by Roy

In a paper from Watson Wyatt, the author makes the distinction between long term strategic asset allocation (horizon 10+ years),  dynamic strategic asset allocation (horizon 3+ years), and tactical asset allocation (horizon months).
“Over short term periods market movements are dominated by “noise” – random events that cannot be predicted with any degree of reliability.  As [...]

A fund to mirror the Guinness family wealth management

October 15, 2009 in Funds by Roy

The Iveagh Wealth Fund is a multi-asset balanced managed fund from the team that manages the wealth of the Guinness dynasty.
“The Iveagh Wealth Fund replicates in unitised format the asset allocation service we provide for our family office clients, which include key members of the Guinness family.
“It targets a return of approx. 10% p.a. Iveagh’s sophisticated portfolio [...]

Monthly Oil Market Report (October 09) – OPEC

October 14, 2009 in Economics, Reports by Roy

Extracts from the Monthly Oil Market Report.
The world economy now appears to be entering into a new phase, moving from a period of containing the crisis to one of economic recovery. Over the course of this year, financial markets have stabilized and the outlook for the world economy has greatly improved. The second quarter is [...]

A fund to invest directly in Gold, Silver & Platinum

October 11, 2009 in Funds, Gold, Other Precious Metals by Roy

Castlestone Aliquot Precious Metals
“Aliquot Precious Metals gives investors direct exposure and entitled ownership of Gold Bullion, Silver and Platinum which is held by the Custodian (HSBC Bank USA) in London. Independently administered by Circle Investment Support Services, B.V. Precious Metals are a store of value. Their unique qualities allow them to perform an invaluable hedging [...]

What is UCITS?

October 11, 2009 in Legal and Regulatory by Roy

‘Undertakings for Collective Investment in Transferable Securities’ (or UCITS, pronounced yoo-sits) are a set of European Union directives that aim to allow collective investment schemes to operate freely throughout the EU on the basis of a single authorisation from one member state. In practice many EU member nations have imposed additional regulatory requirements that have [...]

A fund for BRIC equity

October 11, 2009 in Brazil, China, Emerging Markets, Funds, India, Russia by Roy

Schroder ISF BRIC USD
The fund aims to provide capital growth primarily through investment in equity securities of Brazilian, Russian, Indian and Chinese companies.
Click for: Factsheet; source.  Morningstar performance (ISIN: LU0228659784)
via: Schroder ISF BRIC (Brazil Russia India China) A Acc – ptassetmgr – Schroders .

A fund with a focus on gold equity

October 11, 2009 in Funds, Gold by Roy

Blackrock World Gold USD
The World Gold Fund seeks to maximise total return. The Fund invests globally at least 70% of its total assets in the equity securities of companies whose predominant economic activity is gold-mining. It may also invest in the equity securities of companies whose predominant economic activity is other precious metal or mineral [...]

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