International investment manager Henderson Global Investors has launched the Henderson High Yield Opportunities Fund (HYOAX, HYOCX, HYOIX), a mutual fund that seeks to obtain total return and current income by investing in high-yield bonds and select investment grade fixed-income securities.
The Fund will be managed by Henderson’s six-member US credit team, headed up by Kevin Loome. The team joined Henderson in February this year from Delaware Investments and this is the first fund to be developed for them. The team utilizes a fundamental credit research process and leverages a bottom-up security selection approach – emphasizing cash flow projections, total return potential and liquidity analysis – to create a diversified and focused portfolio of between 50 and 100 holdings.
While the Fund primarily invests in high-yield corporate bonds, up to 20 percent of the portfolio’s assets may be allocated to fixed- income securities rated investment grade. Those securities include US and non-US government securities, collateralized bond obligations and corporate bonds, with much as 25 percent of the Fund’s net assets invested in securities from foreign issuers.
“The combination of our investment approach, underpinned by fundamental and proprietary credit research, and our global team’s close collaboration allow us to construct a focused ‘best ideas’ portfolio of high-yield bonds and select investment-grade securities from issuers all over the world,” said Kevin Loome, Henderson’s Head of US Credit and the Fund’s Portfolio Manager. “At a time when interest rates are hovering at historic lows, Henderson is offering investors access to the most attractive high-yield securities from across the globe.”
Chuck Thompson, Director of US Retail, added, “This fund is a key addition to our fixed income fund line-up as it completes the credit spectrum and reinforces our dedication to provide our clients with products that are both global and truly differentiated. Henderson is now recognized as a global leader in both equities and fixed-income with an experienced credit team managing over $27bn in assets1”.
Advisors and investors can access more information about the Fund through the Henderson Global Funds interactive iPad app, which was launched earlier this year. It offers a deeper understanding of Henderson’s global products and investment expertise. The free app is part of Henderson’s broader strategy to connect with advisors and investors via YouTube, Twitter and Facebook, as well as the Henderson website.
The ING Global Opportunities strategy uses a thematic approach to identify attractive investment opportunities. The sub-theme ‘Big Data’ helps identify companies that will benefit from a growing global requirement to collect, organise, mine and analyse large and diverse datasets.
Data growth is exploding. Before 2003 mankind created 5 exabytes of data, now we generate 5 exabytes of data every 3 days. Decoding the human genome took 10 years before 2003 but now it can be achieved in one week. Wal-Mart handles more than 1 million customer transactions every hour with the equivalent amount of data as 167 times the books in America’s Library of Congress. Large amounts of data offer opportunities but putting it all together requires new IT solutions. Enter Big Data!
What is Big Data?
The benefits to a business of using its own data are frequently higher when addressing the variety of the data it collects as opposed to the volume. Unfortunately traditional data warehouses are not well-equipped to do this and certainly cannot handle modern unstructured data such as videos, images, texts and music. Fortunately, there is a new and on-going form of innovation within the IT sector that is permitting many organizations to deploy large amounts of complex data at a much faster rate and sophistication than previously was possible. This is what we call Big Data.
In practice Big Data has two main definitions. It usually refers to a special type of data: high volume, high speed and complex; or to a set of new technologies used to collect, organise, mine and analyse large and diverse datasets.
What is driving Big Data?
The real commercial treasure is considered to be the ability to analyse the large volumes of social content and related behaviour. Of course, in order to do this you would need to have the right kind of software and also a certain level of speed to ensure timely application of any business opportunities.
The benefits of combining large volumes of complex data with analytics and velocity are still yet to be discovered in some industries while in others they are already being implemented. In retail, for example, predictive big data analytics based on shopping habits have been around for a while.
Sub-theme within the Global Opportunities strategy
Leveraging Big Data will be a necessity for running the companies of the future. Adopting Big Data solutions could be like opening a treasure chest for many businesses. The ING Global Opportunities team seeks to identify the winners from this trend. Big Data is a sub-theme within the strategy’s ‘Digital Revolution’ investment theme, which is one of the seven main pillars of the team’s thematic approach to global investing.
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Wikimedia CommonsFoto: Pgecaj
. Howard-Sloan nombra a Alan Goldstein director de Wealth Management
Howard-Sloan, an executive search firm specializing in the placement of top tier executives for legal and financial practices, is pleased to announce the addition of Alan Goldstein. Mr. Goldstein will serve as the firm’s Global Practice Director of Wealth Management.
“It gives us great pleasure to welcome Alan to the Howard-Sloan team,” said Howard-Sloan CEO, Mitchell Berger. “Alan enters our firm with a multitude of knowledge about the wealth management sector and his extensive work with clients throughout the U.S., Latin America, Europe, Middle East and Asia will help Howard-Sloan expand its verticals both domestically and internationally.”
Goldstein comes to Howard-Sloan with over 20 years of experience in the industry. Through his role he will be concentrating on sectors including, but not limited to, private bankers and relationship managers, financial advisors, and private client investment management.
“I am delighted to join an organization as highly regarded as Howard-Sloan,” Goldstein stated. “The firm’s tremendous track record and success in legal and compliance recruitment dating back to 1957 speaks for itself. I look forward to contributing to the company’s wealth management division by pursuing additional verticals that will serve as a natural progression for Howard-Sloan’s well-established current practices, which include legal, compliance, accounting and IT.”
Goldstein reiterated that firms in the wealth management, family offices, asset management and hedge fund spaces should not hesitate reaching out to him regarding recruiting and hiring executive talent.
For over fifty years, Howard-Sloan Professional Search has specialized in the placement of legal, compliance executives, accountants and IT professionals worldwide. At Howard-Sloan, we are committed to providing the highest level of service to our clients and candidates. We conduct our business honestly, with the greatest sense of integrity
By Sandip Dey . BNY Mellon, galardonado como el "Mejor Proveedor de Servicios de ETFs" de las Américas
BNY Mellon, the global leader in investment management and investment services, has been named as the 2012 “Best Service Provider – The Americas” at the ninth annual Global ETF Awards, which is sponsored by exchangetradefunds.com. This is the seventh consecutive year that BNY Mellon has been honored as the top service provider to ETFs (exchanged-traded funds).
“We continue to enhance our industry-leading technology to support an ever-increasing array of ETF categories, including actively managed ETFs, commodity-linked ETFs and global ETFs,” said Joseph F. Keenan, managing director for BNY Mellon Asset Servicing and head of its global ETF services business. “We view this award as evidence of our passion for delivering the highest quality customer service to product sponsors.”
Since its inception in 1997, Exchangetradefunds.com has been providing information on global ETF, ETC and ETN products on its website. Information on the site consists of product descriptions, products listed on international exchanges, industry info and events, interviews from industry leaders and news. It is also the host of the ETF Global Awards® Dinner and Workshop. Its purpose is to recognize those who have contributed to the development of the ETF industry world-wide and welcomes industry participants from the international community to discuss their respective markets.
Wikimedia CommonsAmerican Psycho. Mexican Investors Show Growing Optimism for Stocks, But Stick to More Conservative Strategies in 2013
Virtually all Mexican investors (95%) are optimistic about meeting their long-term investment goals, yet stock ownership is low and investment return expectations are high, according to the 2013 Franklin Templeton Global Investor Sentiment Survey. The survey polled 9,518 investors in 19 countries across Asia Pacific, the Americas and Europe on their current attitudes towards investing and their expectations for 2013 and the decade ahead.
Two thirds of Mexican investors think they will be able to meet their long-term investment goals without stocks, and Mexico has the lowest level of stock ownership (16%) of all 19 markets surveyed. By comparison, Hong Kong investors reported the highest level of stock ownership at 87% and US respondents reported 64%. Mexican investors predict a 10.8% market return in 2013 and a 14.9% average annual return on their investments over the next 10 years, the survey showed. In addition, more Mexican investor say they will be adopting a more conservative investment strategy (59%) this year than will be adopting a more aggressive one (38%).
“Given the research on expected long-term investment returns for different asset classes, there appears to be a clear disconnect between Mexican investors’ high expectations for returns and their lack of equity exposure,” said Hugo Petricioli, Franklin Templeton’s country head for Mexico and Central America. “Portfolio diversification, including stock ownership, has historically proven essential to long-term investment returns, so clearly some investor education is needed.”
Global Investing, Benefits of Working with a Financial Professional
Like investors in most countries, Mexican investors have a home country investment bias. Mexican investors currently allocate nearly two thirds of their investments to Mexico, although they expect this percentage to decline slightly over the next 10 years as a larger percentage is allocated to developed markets. However, Mexican investors show concern about investing about their own country, with nearly half of those surveyed citing lack of knowledge as the main barrier, followed by the impact of exchange rates on their investment returns and regulatory restrictions.
Globally, those who work with a financial professional are more geographically diversified with their investments, had a more accurate view of past stock market performance and were more likely to identify themselves as being optimistic about reaching their financial goals (82%) than those who do not (76%).
Global Survey Results
While over 60% of global investors believe their country’s stock market will be up in 2013, risk continues to be a concern. In addition, two-thirds (66%) of investors now expect the best equity and fixed income opportunities will be found outside their home market this year (2013), reflecting growing optimism for global investing.
Overwhelmingly, investors around the globe have higher expectations for 2013 stock market performance, particularly in emerging markets where 66% expect their local stock market will improve (versus 58% in developed markets). However, despite this optimism, 57% of those surveyed plan to pursue a more conservative investment strategy this year, with younger investors (aged 25 to 34) leading the charge toward “safer” havens.
“In spite of investors’ positive outlook, it appears that avoiding loss, rather than achieving higher returns, is still their top priority,” said Greg Johnson, president and chief executive of Franklin Templeton Investments. “Clearly the market volatility over the past five years has reinforced a preference among investors for capital retention over investment gains. As seen in recent years, this risk avoidance has led many investors to remain on the sidelines, missing opportunities.
Wylie Tollette, director of Performance Analysis and Investment Risk for Franklin Templeton Investments added, “Many investors need to rethink risk and focus on the long term. Risk avoidance and risk management are two different things. Trying to avoid short- term risk and volatility entirely may expose investors to other kinds of risks, such as inflation and the impact of rising interest rates. These longer-term risks can negatively impact their ability to meet their financial goals.”
Contributing to investor risk aversion, more than half (51%) of investors globally incorrectly believe their domestic stock market was flat or down last year, when in reality, every market surveyed experienced an increase except Spain—and the MSCI World Index was up nearly 17%.
Investors See Best Opportunities Abroad
Despite reporting an overall tendency toward more conservative investing, investors recognize the opportunities of investing abroad.
Reflecting growing optimism for global investing, two-thirds (66%) of investors now expect the best equity and fixed income opportunities will be found outside their home market this year (2013).
Considering performance of equities by geographic region, the highest portion of investors (28%) believes that Asia will provide the best equity return opportunity in 2013. Asia was also selected, with the portion increasing slightly to 33%, when investors considered equity returns over a 10-year period.
While investors are not quite ready to send the majority of their assets overseas in 2013, they do plan to invest nearly 40% of their assets in foreign markets over the next 10 years, split evenly between developed and emerging markets.
Only in Australia and the United States do the majority of investors see the best equity and fixed income opportunities at home rather than abroad, as they plan to keep about three-quarters (78% in Australia and 74% in the United States) of their assets at home over the next 10 years.
Retirement is Top Investment Goal
Retirement is the top investment priority globally, with about a third (31%) of investors selecting it as their top investment goal in 2013. The selection of retirement was highest in the United States and Canada (54%), while lowest among investors in Latin America (19% in Mexico) and parts of Asia Pacific (29%). The top goal in those two regions is saving to purchase a new home (37% in Mexico and 31% in Asia Pacific). At 12%, Europe had the highest number of investors who indicated that saving for emergencies was their top goal.
Younger Investors Most Conservative, Global-Minded
Over two-thirds of younger investors (aged 25 to 34) do not see stocks as essential to meeting their long-term investment goals, the same figure for all Mexican investors. Compared to the other age groups surveyed, younger investors are also least likely to expect stocks to outperform other asset classes and more likely to be conservative in 2013.
That said, younger investors have more of their assets currently invested abroad, at an average of 37%, and show a greater willingness to invest abroad going forward.
Stocks, Precious Metals Lead Asset Class Expectations
Globally, stocks and precious metals were each selected by 21% of investors as the asset classes expected to perform best in 2013. However, those residing in developed markets generally have a more favorable outlook for equities, with Australia, Canada, Hong Kong, Japan, Singapore and the United States expecting stocks to be the top performing asset class this year.
As investors look further into the future, they expect real estate to outperform all other asset classes over a 10-year period, with the largest portion of investors (22%) seeing the greatest investment return in that asset class. Stocks and precious metals, each selected by 19% of investors, were not far behind.
In Mexico, the expected top-performing asset classes in 2013 and over the next decade are:
2013 Expectations
Top-Performing Asset Class
10-Year Expectations
Top-Performing Asset Class
Precious Metals (61%)
Precious Metals (57%)
Real Estate (56%)
Real Estate (54%)
Non-Metal Commodities (39%)
Non-Metal Commodities (43%)
By comparison, Mexican investors ranked stocks fourth, after the asset classes noted above, for 2013 and 10-year expected returns
Foto: NASA. El Grupo deVere abre su primera oficina en el Caribe en las Islas Caimán
The deVere Group Caymans Ltd will mark the company’s first office in the Caribbean and will be headed by Chief Executive Officer Mr Nigel Green and long-time deVere Executive, Mr Simon Pratt, said the firm in a statemtent.
The deVere Group Cayman Islands presence is expected to be established on West Bay Road in Grand Cayman – in the heart of the Cayman Islands‘ financial industry. The deVere Group Caymans Ltd will specialise in Insurance Brokerage, whilst delivering yet another promise to its clientele to be wherever they choose to live around the world. Nigel Green expects the ‘final touches’ to be finalised shortly, as the company is looking to obtain the operating licence in the coming weeks.
“Until now, despite the Cayman Islands‘ attraction as a tax haven for wealthy individuals, few financial advisers have sought to base themselves in the British territory. For this reason, we believe that this venture will help us bridge the gap in the market, whilst keeping in line with the company’s growth objectives.”
“The deVere Group is the world’s largest independent international financial consultancy. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$9 billion of funds under administration and management, deVere has more than 70,000 clients in over 100 countries”, said the firm in a statement.
Keith J. Gardner. WAMCO Considers Peso Denominated Investments as a Seeking Alpha Alternative
Keith J. Gardner, Head of Emerging Markets at Western Asset Management (WAMCO), one of the world’s leading fixed income managers, talks with Funds Society about their expectations for Mexico, the firm’s investment process and the possibility of increasing their dedicated Mexican product offering.
“Amongst emerging markets Mexico is one of our favorites,” says Gardner, mentioning Mexico’s strong fundamentals, and the positive prospects that could come about if the reforms are approved. He also mentions that at WAMCO, they are excited about the fact that all three parties are aligned when it comes to the reform agenda, which he believes could propel México to the next level and separate them from countries like Brazil. They also believe that the reduction of the informal economy, a stronger competitive landscape in the telecom, and various key industries, as well as a stable currency and low interest rates could be beneficial for both the government and the private sector in the short run. Of particular interest is the energy reform, which if properly paired with the fiscal reform, could have an immediate impact on GDP.
Speaking about their process, the executive mentions that as Dollar based investors, the positions they take in Peso denominated assets– normally on the 10yr part of the curve- in the Mexican market allows them to get alpha by having off benchmark investments. “We consider local bonds the most attractive, because even at current levels, they still offer an interesting pick-up. We continue to be constructive on the peso” mentions Gardner.
When it comes to evaluating a potential investment at WAMCO, besides considering historical yields, the various teams -located in Pasadena, Hong Kong, London, Melbourne, New York, São Paulo, Singapore, Tokyo and Dubai- check and ponder the relative value compared to the region’s and the world’s.
Keith J. Gardner has over 30 years experience in analysis and portfolio management. He started his career as analyst in Salomon Brothers in 1983, and has been managing portfolios since 1985. He joined Western Asset Management in 1994 after a two year tenure at Legg Mason. He currently serves as Head of Emerging Markets at WAMCO.
Foto: Thomas Bresson. . La minera Coeur distinguida en México como Empresa Socialmente Responsable
Coeur d’Alene Mines Corporation announced that its Mexican subsidiary Coeur Mexicana was recognized with the Socially Responsible Business Distinction Award for 2012 (“Distintivo Empresa Socialmente Responsable 2012”) for its Palmarejo silver-gold mine operation in Chihuahua, Mexico.
“We are honored that the Mexican Centre for Philanthropy has once again recognized Coeur for its dedication to corporate social responsibility in Mexico”
Coeur Mexicana received this national award for the fifth consecutive year in recognition of its demonstrated leadership excellence in corporate social responsibility, environmental stewardship and sustainability in Mexico. The award also recognized the way Coeur Mexicana personnel conduct business in Mexico and the positive working environment Coeur Mexicana creates for employees and contractors.
“We are honored that the Mexican Centre for Philanthropy has once again recognized Coeur for its dedication to corporate social responsibility in Mexico,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “We are solidly committed to conducting all of our operations in a socially and environmentally responsible manner that respects our workers, the environment and our host communities.”
Each year the Mexican Centre for Philanthropy (“Centro Mexicano para la Filantropia”) recognizes companies that have demonstrated responsible corporate ethics and governance practices as well as a dedication to improving the social and environmental landscapes in which they operate.
The Palmarejo mine, located in the state of Chihuahua in northern Mexico, is a silver and gold mine commissioned in 2009. Mining at Palmarejo is conducted both underground and on the surface. Coeur’s operations in Mexico employ over 880 people.
Coeur d’Alene Mines Corporation is the largest U.S.-based primary silver producer and a growing gold producer. Coeur has four precious metals mines in the Americas generating strong production, sales and cash flow in continued robust metals markets. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. Coeur also owns a non-operating interest in a mine in Australia, and conducts ongoing exploration activities in Mexico, Argentina, Nevada, Alaska and Bolivia. In addition, Coeur owns strategic investment positions in eight silver and gold development companies with projects in North and South America.
Foto: Erik A. Ellison . Glenn H. Schiffman se une a Guggenheim Securities como senior managing director
Guggenheim Partners today announced that Glenn H. Schiffman has joined Guggenheim Securities as a Senior Managing Director. A seasoned investment banker with well over $100 billion in executed deals over his career, Mr. Schiffman brings with him significant transactional, leadership and managerial skills and will assist in the continued build out and growth of Guggenheim Securities’ Investment Banking platform.
“Over the years, I’ve had the opportunity to work with Glenn on both sides of the table in numerous projects, and have witnessed first-hand his client impact and ability to serve as a trusted advisor,” said Alan Schwartz, Executive Chairman of Guggenheim Partners. “Glenn’s track record both in building and managing successful businesses and in advising clients in major transactions is unmatched, and I am very pleased to have him join our growing team. His extensive experience advising across domestic and international situations will be invaluable to Guggenheim and to our clients.”
A 20-year veteran of Wall Street, Mr. Schiffman joins Guggenheim from The Raine Group, where he was a Partner. Prior to The Raine Group, Schiffman served as Head of Investment Banking for the Americas and CEO of Nomura Securities North America as well as Head of Investment Banking Asia-Pacific for Nomura and previously Lehman Brothers. At Lehman and subsequently at Nomura, Schiffman led teams that achieved number one rankings in Asia-Pacific M&A and was named Atlas Awards Asia M&A Banker of the Year in 2009. Before that, Mr. Schiffman was Co-head of the Global Media Group at Lehman Brothers
