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Opinion

Inside Investment: Alpha hunters vs beta grazers

Is the single-minded pursuit of alpha as smart a strategy as conventional wisdom would suggest?

Andrew Capon, May 01, 2006

CAPITAL MARKETS

Prince Alwaleed bin Talal: Opening the doors to the kingdom

Prince Alwaleed bin Talal, the richest man in the Arab world and the eighth richest on the planet, can barely contain his enthusiasm. For 25 years he has worked to grow a $30,000 handout from his father into a $20 billion company and now, somewhat surprisingly, he wants to float it, or rather 30% of it, on the Saudi stock market.

Peter Lee, May 01, 2006

CAPITAL MARKETS

Asset Management: Martin Currie proves sizeist critics wrong

Fund managers with medium-size AUMs can be successful.

Helen Avery, May 01, 2006

Foreign Exchange

From the archive: Does FX need best-execution regulations?

Euromoney’s investigation into the global FX market in 2006 – seven years before the fixing controversy - revealed the scale of the practice of banks’ pre-empting, or front-running, clients' FX orders.

Lee Oliver, May 01, 2006

Leveraged finance: Firms fend off pressure to releverage – for now

Few companies are pursuing leveraged share buybacks, but pressure from activist investors is putting the issue back on the agenda and there could be a lot more deals in the next 12 months.

Kathryn Tully, May 01, 2006

BANKING

People & markets: All change in European ABS

In recent weeks significant moves have taken place in the higher echelons of European structured finance.

Alex Chambers, May 01, 2006

BANKING

Foreigners breach Asia’s final banking frontier

It’s Vietnam, but not as we’ve known it. The country’s financial markets have promised much in the past and delivered little but disappointment. Reforms are now for real and initially most apparent in the banks. Significant opportunities are there for the taking. Chris Leahy reports.

Chris Leahy, May 01, 2006

BANKING

Turkey’s banks put M&A centre stage

The enormous growth potential of the Turkish banking sector is attracting a lot of attention but the mortgage business, one of the industry’s biggest attractions, is suffering from profit shortfalls because of a lack of well-matched funding opportunities. Covered bond issuance and the imminent reawakening of the Turkish lira corporate bond market could provide a much-needed boost. Peter Koh reports.

Peter Koh, May 01, 2006

BANKING

Debate: The pros and cons of algorithmic trading

It´s the new Big Bang in equity trading. As research and execution are unbundled, and as clients increasingly access markets directly, brokers need to find new ways to keep their institutional clients. Algorithmic trading is one way. It cuts execution costs, adds alpha and gives the creative brokers – those able to design flexible, customized algorithms – a new way to keep in the execution business, for now.

May 01, 2006

BANKING

Romanian banking: What a difference three years make

Three years ago, the Romanian government had to admit defeat in its plans to privatize Banca Comerciala Romana, the country’s largest bank. By last autumn, though, when bidding was reopened, nine banks submitted bids and the bank was eventually sold at 5.8 times book value – a record at that time in central Europe. So what changed?

Kathryn Wells, May 01, 2006

FM round up: Kirk Wright "goes underground" after allegedly robbing American football players

A rather angry group of American football players and the federal government are reportedly looking for Kirk Wright, whose International Management Association hedge fund allegedly robbed 500 investors of $185 million. The fund was eligible for investment as part of the football players’ financial advisers programme. Wright failed to appear in court, and has reportedly gone underground, claiming that he has received death threats.

Helen Avery, May 01, 2006

BANKING

On the trail of investment opportunities in the Wild East

Central Asia, a stronghold for dictators, poverty and corruption, doesn’t at first glance seem to offer fertile ground for high investment returns. But this is precisely what some of the region’s more intrepid investors hope to find and profit from. Kathryn Wells spends a week on the road with two hedge fund managers, on the lookout for opportunities on this new frontier.

Kathryn Wells, May 01, 2006

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