Note Assessment of the true risks of Exchange-Traded Funds (ETFs)
According to EDHEC-Risk Institute, any discussion of the risks inherent in ETFs should go beyond merely hypothesising about potential risks, and should also take into account the empirical evidence provided by the existing academic research on (...)
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Regulation ESMA issues good practices for structured retail product governance
The European Securities and Markets Authority (ESMA) has published an opinion on structured retail products, setting out good practices for firms when manufacturing and distributing these products.
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Innovation FTSE partners with TOBAM to publish Maximum Diversification nonmarket capitalisation indices
This new partnership will further expand FTSE’s growing range of nonmarket cap-weighted indices, extending investors’ options in this rapidly-growing arena.
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Innovation Munich Re transfer US hurricane and European windstorm risks to the capital markets
Munich Re has acquired coverage for US hurricane and European windstorm risks with a total volume of US$ 100m from the special-purpose vehicle Queen Street IV Capital Limited, which in turn has placed a catastrophe bond for this amount in the capital (...)
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Note Huge private protection gap among European consumers: Life insurance products should become more attractive, more affordable and easier to understand
Swiss Re will today publish the European Insurance Report 2012 highlighting potential gaps between the insurance industry’s product offerings and current consumer demand.
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News Euronext announces volumes for August 2016
The August 2016 average daily transaction value on the Euronext cash order book stood at €4,844 million (-43.8% compared to August 2015). Activity on ETFs followed the same trend with an average daily transaction value of €335 million, down by -54.9% compared to August (...)
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Innovation Rabobank successfully issued a US$ 2bn benchmark hybrid Tier 1 transaction
Rabobank successfully issued a US$ 2bn benchmark hybrid Tier 1 transaction. These capital securities, priced at a coupon of 8.40%, have been designed to comply with current Dutch and European Regulatory requirements (CRD (...)
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Innovation Swiss Re places first bonds to combine natural catastrophe and mortality risks
Swiss Re has obtained USD 200 million in coverage against North Atlantic hurricane and UK extreme mortality risk through its new Mythen Re programme...
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News February, not that cold for hedge funds
The Lyxor Hedge Fund Index was up +1.9% in February, bringing year to date performance to +1.45%. 11 Lyxor Strategy Indices out of 12 ended the month in positive territory, led by the Lyxor Special Situations Index (+3.48%), the Lyxor CTA Long Term Index (+3.4%) and the (...)
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Innovation S&P Dow Jones Indices Adds Two Indices to the S&P Low Volatility Family
S&P Dow Jones Indices, the world’s largest provider of financial market indices, announced today the launch of the S&P MidCap 400 Low Volatility Index and the S&P SmallCap 600 Low Volatility Index - which seek to measure the performance of the least volatile (...)
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News CTA Launches Fall to Lowest Level Since 2006
Fifty CTAs launched in the first nine months of 2015, and the year looks set for the fewest launches since 2006, when 66 CTA funds launched. As a proportion of all hedge funds launched each year, the fraction represented by CTAs has fallen below 10% for the first time since (...)
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Strategy Management of hedge fund portfolios during crisis periods: the contribution of systematic overlays
The implementation of systematic overlays can be considered as an alternative to short-term rebalancing of hedge fund portfolios, or as an active component of alternative allocations.
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Strategy Which strategies to privilege in an environment of extreme risk ?
A convex strategy seems to better correspond to long-term investors in terms of preference structures, potentially ready to give up some of their earnings to avoid losses that would be difficult to handle from an emotional point of (...)
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Strategy Alternative risk premia weathering Brexit storm well
Pierre-Yves Moix, co-manager of the Alternative Risk Premia strategy at GAM, comments on how the growing alternative risk premia industry has delivered strong performance in the uncertain Brexit environment – proving once again its strong diversification and market neutral (...)
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Opinion Robots have taken power in finance
Describe the real world with numbers is a trend that seems to be accelerating. Thus, digital technology is associated with financial models to show that we (human) interact with our environment using mathematical (...)
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