Hedge funds

Was it Abbey that prompted the Bank of Spain to level the playing field?

Deutsche Bank's disposal of its UK asset management business (DeAM UK) and Philadelphia-based active fixed-income business to Aberdeen Asset Management will be a great relief to the bank's senior board members. The UK unit has been in dire straits in the past two years, haemorrhaging staff and losing a series of pension fund mandates. In 2004 alone, the businesses sold made losses of £77 million ($135 million).

Private-equity funds are uncovering new ways to invest in Africa

A neat theory has it that long-term interest rates are stubbornly low because of excess savings in Asia. But the Federal Reserve can't get off the hook that easily

Most surprising acquisition of the month

Managers seek better returns in increasingly influential asset class

European high-yield market faces a €6 billion test

Four hundred of the biggest names in the capital markets gathered at the Natural History Museum in London last month for the annual Euromoney Awards for Excellence dinner. Juan Manuel Cendoya, executive vice-president of Santander, and Lord Burns, chairman of Abbey, came to see Santander take the Best Bank 2005 title. A vocal contingent from Lehman Brothers (Investment Bank of the Year) also made its presence felt.

"I believe it is an obligation, for those of us who have a career, to defend it and serve the country"

It has been a glorious first half of the year for global structured finance, with volumes outperforming the plain vanilla universe for the fourth year in a row. The total rocketed up by more than a quarter, to $1.2 trillion from $944.6 billion during the first half of 2004.

The cash bond trading index has launched a US version

Unsecured debt markets are still open for GMAC and Ford

End of an era

The CME and CBOT look to be the most likely candidates for a tie-up, despite their long-standing rivalry

Doubts, though, emerge over portal's sustainability

Global consultancy and software provider Anvil has seized the opportunity to become the first company to design a cross-asset margining tool. In essence, the new system, dubbed Anvil Margin, will help traders, middle offices and back offices to manage collateral more effectively by operating on a multi-asset class basis. "This new product has been driven by emerging trends in the industry," says Phil Buck, CEO of North America at Anvil. "Market participants are becoming far more focused on cross-asset margining, for the simple reason that it's more efficient."

Big stride taken towards gaining investment-grade status

Lula remains favourite for second term

G8 agreement could spur development

Venezuela's president considers buying Ecuador bond

Taiwan: merger of equals kicks off consolidation

Argentina: Dollar bond revival

CSN becomes latest Brazilian borrower to issue new product

Money flowing into company and private pension plans in the Asia-Pacific region is expected to increase rapidly, creating new opportunities for fund managers.

Saudi Arabia: investment incentives

Soul from Seoul wows the rest of Asia

Rumour mill grinds on as Temasek invests in CCB

Credit card bad loans to rise but business still highly profitable

"£875m for The Priory! Why buy it? Maybe they have a view on the secular growth in the bulimic market"