The Securities Exchange Board of India (SEBI) has done small investors a good turn by restricting their access to so-called innovative debt instruments such as perpetual non-cumulative preference shares and perpetual bonds (also known as AT-1 bonds). It has said that offers of such instruments should henceforth take the electronic book provider route, with participation restricted to Qualified Institutional Buyers (QIBs). The minimum ticket size for initial offers and secondary market trading in these bonds has been raised to ₹1 crore. Explicit disclosures will now be required on the perpetual character of these bonds, and the Point-of-Non-Viability (PONV) clause that allows the RBI to direct a troubled bank to completely write-off the principal value. These new requirements are a welcome attempt by SEBI to ward off YES Bank-like situations, where the write-off of AT-1 bonds as a part of the bank’s restructuring plan came as a rude shock to the
BlackRock, the owner of the wildly popular iShares family of exchange-traded funds and the world’s largest asset manager, has gotten even bigger during the Covid-19 pandemic. BlackRock said Tuesday that it now has $7.8 trillion in assets under management, a 12% increase from last year.
The continued allure of passively managed index funds is a big reason why BlackRock is thriving during these volatile times for the market. BlackRock said that iShares had a total of $2.3 trillion in assets during the third quarter — and nearly 70% of that total was for stock funds.
BlackRock disclosed the numbers in its latest earnings report Tuesday. Revenue and
Charles Schwab has earned the highest ranking in Investor’s Business Daily’s Most Trusted Financial Companies study, with a trust rating of 92.3. In addition to being ranked the No. 1 overall most trusted financial company and No. 1 in the online broker category, Schwab was also ranked No. 1 for fair pricing and fees, customer service, and customer treatment within the online broker category. Schwab also ranked No. 2 in the wealth management category, with a trust rating of 89.2.
“We are honored that our clients, employees, and communities place such high trust in us every day,” said Walt Bettinger, president and CEO of Charles Schwab. “At Schwab, we look at the world Through Clients’ Eyes and keep that perspective at the heart of everything we do. We are committed to earning the trust and loyalty of those we serve by focusing on our ‘no trade-offs’ approach – delivering a
Sylvan’s flexible user-defined attribution allows AllianzGI to broaden and support its global fixed income performance measurement and attribution reporting and analysis
WINDSOR, Conn., Oct. 13, 2020 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that AllianzGI has chosen SS&C’s Sylvan as its consolidated global performance measurement and attribution platform to support its fixed income businesses. AllianzGI’s fixed income team manages EUR193 billion in assets globally.
Allianz GIobal Investors’ fixed income team has broadened and deepened its capabilities significantly over several years and recently evolved its business model into an integrated, global structure. As part of the transformation, the organization is embarking on a plan to enhance and enrich its performance and attribution platform for its global portfolio management and cross-functional investment teams. Allianz Global Investors wanted to support unique custom attribution methodologies. Among the vendors that AllianzGI considered, SS&C Sylvan provided the needed scalability, flexible reporting and
The prospect of a Democratic sweep in next month’s elections is helping to push U.S. government-bond yields higher, stirring memories of four years ago when yields climbed sharply after a Republican victory.
Yields, which rise when bond prices fall, have climbed in recent days as polls have shown a growing lead for former Vice President Joe Biden over President Trump, as well as improving chances that Democrats could end up holding both houses of Congress.
For debt investors, the key isn’t necessarily whether Mr. Biden or Mr. Trump wins. It is whether one party or another has unified control of government, making it easier to expand the federal budget deficit through tax cuts or spending programs.
Bigger deficits can push yields higher for two reasons: first, by increasing the supply of outstanding bonds as the government ramps up borrowing and, second, by potentially boosting economic growth and inflation, which makes
TOKYO – The dollar flirted with three-week lows on Tuesday as investors stuck to hopes that there will be large U.S. fiscal stimulus after the Nov. 3 election to shore up a pandemic-hit economy, supporting riskier currencies.
The dollar index stood at 93.036, just above Friday’s near-three-week low of 92.997. The euro traded at $1.1841, having gained 0.60% on Monday.
“It seems there is a strong optimism that eventually there will be stimulus. It is hard to argue against fiscal expansion given the coronavirus epidemic is almost like a natural disaster,” said Makoto Noji, chief currency and foreign bond strategist at SMBC Nikko Securities.
DOLLAR’S RECENT DIRECTION POINTS TO BIDEN WIN
While markets are getting sceptical about the chances of having a bipartisan package before the election, a widening lead by Democratic presidential candidate Joe Biden over
By Soumyajit Saha
(Reuters) – Australian shares struggled for direction on Monday as investors stayed away from making big bets ahead of corporate earnings and production results while awaiting further developments on U.S. stimulus talks.
The S&P/ASX 200 index <.axjo> slipped 0.03% to 6,100.2 by 23:45 GMT, after posting its best week in six months last week.
A slew of Australian companies, including global miners BHP Group and Rio Tinto , are scheduled to report their quarterly production figures later this week, while the ‘big four’ banks will provide the first peek into how lenders fared in the July-September quarter later this month.
The Australian parliament on Friday approved A$17.8 billion ($12.87 billion) in personal tax cuts, quickly pushing through measures announced earlier in the week as part of the federal budget to support
(Corrects paragraph 8 of Oct. 9 story to say Trump administration officials, not Trump, are considering the move)
SHANGHAI (Reuters) – Five newly launched Chinese funds targeting Ant Group’s upcoming mega stock listing raised 60 billion yuan ($8.93 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds’ distributor said.
An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant’s initial public offering (IPO) despite possible U.S. sanctions against the Chinese fintech giant.
The rush also underscores the marketing clout of Ant’s online payment platform Alipay, the sole third-party distributor of the five mutual funds that threatens to disrupt traditional fund sales models.
Ant, Alibaba Group’s
Nervous investors have bought more than 1,000 tonnes of gold this year, a record figure equivalent to the entire hoard the Swiss National Bank has stashed away in its vaults.
For centuries people have considered gold a store of value in turbulent times. In 2020 they have been buying it in droves.
Gold exchange traded funds (ETFs) recorded their tenth consecutive month of positive inflows in September for only the third time since the financial crisis. This was despite gold experiencing its biggest monthly price drop since November 2016, falling 3.6%, after reaching a new all-time high in August.
With concerns mounting about the outcome of the upcoming U.S. election and a second wave of coronavirus infections, will the precious metal retain its lustre in the fourth quarter?
Investors certainly believe so. Figures this week from
- Salima Visram founded sustainable fashion brand Samara in 2017 after she couldn’t find a bag that was “cruelty free, simple, and elegant.”
- The brand sells bags, clothing and accessories made from ethically-sourced sustainable materials like apple leather, bamboo and castor oil.
- A chunk of the company’s profits go to supporting Visram’s other venture, Soular, which provides children in Kenya, Uganda and Tanzania with backpacks that have solar-powered lights so they do homework without expensive kerosene.
- Visram said Samara is profitable and has been “since day one,” generating $2 million a year in revenue.
- Doing small production runs, maintaining a staff of four who perform many roles, and handling projects like photoshoots in-house have all helped keep costs down, Visram said.
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Bags made out of apple leather. Sunglasses made out of castor oil. A backpack made out of recycled plastic from the ocean. Building