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LaSalle’s hedge fund administration arm now has more than $13 billion in assets, up from $6 billion at launch in March earlier this year. It’s an impressive accrual of assets given the already crowded administration space and indicates a need for administrators with experience in structured products and CDOs.

Is there an opportunity to initiate new positions at better levels or has the bubble burst?

Lehman Brothers is the latest bank to tap into the growing demand for FX indices (see the weeklyFiX, August 24: "Now is the time for investable FX indices"). Its FX indices (LBFX) track the performance of a long position in G10 currencies against the US dollar. Total returns are calculated daily and incorporate spot and carry return components.

"Actually, now’s not a good time"

"In some cases the commitment of larger banking institutions has run ahead of the expertise and knowledge that currently exists. And that’s OK. It’s right to try to understand the best ways to maximize the opportunities. It’s a massive shift, and it’s going to pick up speed and be one of the largest movements in the history of business"

Africa’s abundant mineral resources are attracting investment from Russian companies. What’s more, the Russians are proving more popular with Africans than westerners and the Chinese. Elliot Wilson reports.

In August the markets rocked and, in turn, Argentina was dumped. Chloe Hayward goes to Buenos Aires to find out why.

Companies from central and eastern European countries already in the European Union have adopted an increasingly aggressive strategy of making acquisitions in their faster-growing non-EU neighbours. The aim, it seems, is to gain a foothold before traditionally stronger western European and north American firms scoop up all the best deals. Dominic O’Neill reports.

With high profits, a low and declining cost/income ratio and an expansive global strategy, BBVA ought to be riding high in the stock markets. But some investors seem to think it is overstretching itself and have marked it down. Peter Koh reports on a success story that some in the market are not reading.

Peru’s economic miracle has taken it to the threshold of investment-grade status and enthused the country’s local and foreign bankers, who are rapidly broadening their corporate and retail markets. Leticia Lozano reports.

In the wake of the August 1998 financial crisis, Russia’s regions became a banking wasteland. But on the back of this decade’s strong economic growth the regions are seeing a financial services renaissance. Guy Norton reports.

The liquidity crisis that blew up out of the sub-prime credit downturn reveals big gaps in understanding between senior managers at banks and the credit structurers. It also poses many questions to regulators and investors. Fairly sharing out the blame and guessing what comes next remain challenges, finds Peter Lee.

Net jumbo Pfandbrief issuance is likely be down again this year for the third year running, while structured covered bond issuance grows apace. This is generating some bitter debate about just how much investors understand the difference between the two types of debt. Louise Bowman reports.

Uday Kotak is India’s most successful self-made banker. In just over 20 years, he has transformed his company from humble beginnings into a financial conglomerate. As financial liberalization gathers pace, he tells Sudip Roy why he is confident of further success.

After every great party comes a reckoning. Because they overindulged sub-prime borrowers with unprecedented excess credit, US financial markets are facing a long and severe hangover. The American dream of homeownership for all has turned sour, while cleaning up the mess will be painful. Amid the finger-pointing, dislocation and illiquidity, though, fortunes will be made. Alex Chambers reports.

Naguib Sawiris, the chairman of Orascom Telecom, has established an emerging market operation that is one of the world’s strongest-performing companies. Now he is turning his attention to Europe. He tells Chloe Hayward why his business is one of the best.

Baring Asset Management says the fallout from the sub-prime worries in the US is creating buying opportunities in emerging Europe, which investors would do well to take advantage of.

Brazil plans to allow the country’s mutual funds, which have $525 billion in assets, to invest an unlimited proportion of their portfolios in overseas assets by the end of this year.

Chi-X, the pan European alternative trading system (ATS) operated by Instinet, is starting to make waves, winning significant market share in certain stocks on some days.

In an interview with Euromoney Zhou Xiaochuan, governor of the People’s Bank of China, reiterates that China will not be bullied into changing its exchange rate policy, admits that the central bank is watching closely for signs that the economy is overheating, and says that the People’s Republic is keeping its dollar exposure in line with the market average.

Austria’s Wiener Börse has added Ukraine to its stable of central and eastern European partners, signing a memorandum of understanding with the PFTS exchange, the largest of Ukraine’s six exchanges, with a market capitalization of €55 billion.

The CEO of a London-based product design and consultancy firm has told Euromoney his team has developed a Shariah-compliant futures contract which he says will "revolutionize" Islamic finance. Humayon Dar of BMB Islamic, a specialist Islamic finance company, hopes work on the contract, which he says has already been approved by Shariah scholars, will be finished by the end of the year. He says it should be ready to go on the market during the first quarter of 2008.

Moody’s finally upgraded Brazil’s foreign and local currency debt last month to Ba1 from Ba2. The agency also raised the country ceiling to Baa3. This moves brings Moody’s in line with S&P and Fitch, which already have Brazil at BB+ and have positive and stable outlooks on their respective ratings.

Anyone seeking evidence of the growing range of investment opportunities for private equity practitioners in Russia need look no further than the news that Mint Capital has paid $8 million for a blocking minority stake in Mone, one of the country’s leading hairdressing and beauty salon chains.

Korea’s new found openness to foreigners, as it strives to become a regional financial centre, is about to face its first test.

In 2006, the top 20 hedge fund and private equity fund managers earned more in 10 minutes than an average worker in the US made in the entire year, according to a report by advocacy groups Institute for Policy Studies and United for a Fair Economy.

Is central Asia of the verge of an Islamic banking boom?

Repricing in the leveraged loan market means that some CLO managers have been having a field day.