All Securities Services articles – Page 16
-
Features
Porting alpha via hedge indices
To understand the concept, firstly ‘alpha’ has to be defined. Alpha is a return that is unsystematic and uncorrelated to a general market direction and risk, whereas beta is a systematic and market related return. The most important question is, what is ‘general market’? Do we only talk about overall ...
-
Features
A time for specialists
Global custody may today enjoy a far higher profile than was once the case, but it will nonetheless strike some as incongruous to talk about ‘superstars’ in connection with the often prosaic business of securities servicing. But such rare and fabulous creatures do nonetheless exist, and few would dispute that ...
-
Features
RBC Dexia tops R&M custody survey
RBC Dexia Services has topped the latest poll of custody providers organised by R&M Consultants. The new venture, formed at the beginning of this year, retained the top spot held by RBC Global Services, R&M’s 14th annual survey found. “RBC Dexia Investor Services is very pleased to have been ranked ...
-
Features
Custodians face global challenge
With assets under management of €814bn (according to the Lipper pan-European fund flows report of November 2005), France is the second largest funds market in Europe behind Luxembourg. France holds just over 19% market share, behind Luxembourg’s 28% but ahead of the UK on 11%. The funds industry in France ...
-
Features
More to do on settlement
Tim Steele Alongside safekeeping, settlement is one of the foundation stones of the classic ‘hold and settle’ custody model, and in theory one of the most straightforward functions performed by a custodian bank. Yet figures produced by UK-based Amaces show that missed settlement deadlines remain a concern. The firm currently ...
-
Features
How to keep in the swim
With defined benefit and defined contribution pension funds totalling around €13bn, Belgium is a minnow compared to its neighbour the Netherlands. However, its status as a Euronext market and as a member of Euroclear Group mean it is not left on the sidelines by securities services players. Renaud Vandenplas, location ...
-
Features
State Street moving processing east?
State Street sees an opportunity to cut costs by moving some of its processing operations to eastern Europe, says chief executive Ron Logue. “We see eastern Europe as two different types of opportunity,” Logue told Bloomberg TV. “One is in terms of product manufacturing, processing at a lower factor cost ...
-
Features
MetallRente records double-digit sales growth
MetallRente, the pension fund for employees in Germany’s metalworking and engineering industries, has recorded another year of double-digit growth in sales of its corporate pension. As of December 31 last year, MetallRente says it insured 155,417 workers in the sectors, an increase of around 15% on the previous year. The ...
-
Features
Changing managers can destroy value
The hiring and firing of investment managers by institutional investors in the UK and US can be a value-destroying activity, according to a report by global investment consultant Watson Wyatt. The paper states there is “room for improvement” on the part of institutional investors when it comes to decisions about ...
-
Features
Bond managers: can they predict?
Although we have seen quite a bit of research on the usefulness of equity analyst’s buy and sell recommendations for individual shares, far less research has been done that addresses the overall asset class visions of analysts and strategists. Perhaps this can be attributed to the fact that data providers ...
