w/c 12 December
By Adam Cadle
News in brief, mandates and product launches from this week
The Swiss Funds Association (SFA) has added six new members to its Board of Directors and its Executive Board. The new additions are: Adveg Management AG, Argos Investment Managers SA, Skagen Funds AS, DIAMOS Suisse AG, Morningstar Switzerland GmbH and SOLUTIONS AVOCATS.
AXA IM had announced the launch of the SOIEx shareclass to provide equity exposure to Eurozone companies whilst partially mitigating extreme equity downturns through an overlay strategy. The shareclass will initially be available in the AXA World Fund Framlington Europe and will later be available through other equity funds in the AXA IM World Fund Range.
S&P Capital IQ is re-classifying its asset allocation peer groups in order to aid global comparability of funds. The procedure classifies funds on their exposure to the single highest weighted risk asset. It also classifies them according to their exposure to the aggregate of risk assets and volatility, downside deviation and maximum drawdown statistics will also be taken into account.
Threadneedle has launched the Threadneedle (Lux) UK Equities Fund in its Luxembourg SICAV range. It will be driven by core equity strategy and follow the same process as the Threadneedle UK Fund.
Scottish Widows Investment Partnership (SWIP) has launched a new European High Yield Bond fund which will eventually consist of around 75 stocks. It will also offer the prospect of a strong risk adjusted return and a high level of income diversified from equities and other fixed income segments.
Other stories you may find of interest:
Markets hit by US downgrade
Last week’s decision by Standard & Poor’s (S&P) to downgrade the United States’ long-term sovereign credit rating from AAA to AA+ ended a harrowing week for Wall Street, and its impact has been felt today throughout global markets
