Investment Management, Islamic Finance Correspondent
Cecilia's Feed
Nov 5, 2010

Irish bond spreads in extra deposit territory

DUBLIN/ LONDON, Nov 5 (Reuters) – Irish sovereign bond
spreads are trading at levels that could trigger a special
trading safety net introduced a month ago by clearing house
LCH.Clearnet to protect bondholders from government default.

Irish sovereign bonds have since Wednesday been trading at a
spread of over 500 basis points, according to Reuters data. They
hit 550 bps for the first in early trading on Friday, making
Irish government debt the riskiest of the eurozone countries –
apart from Greece which is trading at about 925bps.

Nov 5, 2010

Plain vanilla managers to win in UK pension reform

LONDON (Reuters) – Rules to force British workers to save for retirement will give big asset management players offering low-risk investment strategies a chance to capture the lion’s share of billions of pounds of new inflows.

The planned National Employment Savings Trust (NEST) will be managed conservatively and is likely to award mandates to investment houses known for fund ranges and skillsets that help clients match pension liabilities in a cost-effective way.

Nov 4, 2010

Analysis – Plain vanilla managers to win in pension reform

LONDON (Reuters) – Rules to force workers to save for retirement will give big asset management players offering low-risk investment strategies a chance to capture the lion’s share of billions of pounds of new inflows.

The planned National Employment Savings Trust (NEST) will be managed conservatively and is likely to award mandates to investment houses known for fund ranges and skillsets that help clients match pension liabilities in a cost-effective way.

Nov 2, 2010

Ireland on track to meet deficit target

DUBLIN (Reuters) – Ireland remains on track to cut its underlying budget deficit to a targeted 11.9 percent of GDP this year despite a jump in borrowing costs and a shortfall in income taxes, figures on Tuesday showed.

Ireland’s tax take was marginally ahead of target and its spending less than planned in the ten months to the end of October but the performance failed to impress investors who fear the country will need a Greek-style bailout to sort out the worst budget deficit in Europe.

Nov 2, 2010

Ireland’s “bad bank” to get tough on debtors

DUBLIN, Nov 2 (Reuters) – Ireland’s state-run “bad bank”
made a profit of 6 million euros in the second quarter and said
on Tuesday it expected to make significant progress next year in
clawing back money from property developers.

The government set up the National Asset Management Agency
(NAMA) to acquire risky property loans with a nominal value of
73 billion euros from its battered banks and help draw a line
under years of reckless lending.

Nov 1, 2010

Ryanair Q2 profit disappoints

DUBLIN (Reuters) – Europe’s largest low-cost airline Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) (RYA.L: Quote, Profile, Research, Stock Buzz) failed to wow investors with an upgrade to its full-year earnings forecast after missing expectations for second-quarter net profit on Monday.

Shares in the Irish airline were down 3.6 percent at 1330 GMT, after a hefty fuel bill dashed expectations for a 40 percent increase in quarterly profit, and as the expected increase in full-year guidance failed to compensate.

Nov 1, 2010

Ryanair Q2 profit disappoints; raises guidance

DUBLIN, Nov 1 (Reuters) – Europe’s largest low-cost airline
Ryanair (RYA.I: Quote, Profile, Research) (RYA.L: Quote, Profile, Research) failed to wow investors with an upgrade
to its full-year earnings forecast after missing expectations
for second-quarter net profit on Monday.

Shares in the Irish airline were down 3.6 percent at 1330
GMT, after a hefty fuel bill dashed expectations for a 40
percent increase in quarterly profit, and as the expected
increase in full-year guidance failed to compensate.

Oct 29, 2010

F&C cheers net inflows on Thames buy

LONDON (Reuters) – F&C Asset Management (FCAM.L: Quote, Profile, Research) reported higher-than-expected assets under management (AuM) in its third quarter, boosted by the takeover of rival Thames River and rising equity and bond markets. F&C said on Friday AuM swelled 13.5 percent to 108.2 billion pounds in the quarter to September 30, beating analyst forecasts for between 105 billion and 107.7 billion, after winning 600 million pounds of net new business.

Its shares were up 1.5 percent at 67 pence by 1004 GMT, outperforming the FTSE All Shares index .FTSE which was down 0.4 percent.

Oct 29, 2010

F&C cheers net inflows after Thames acquisition

LONDON, Oct 29 (Reuters) – F&C Asset Management (FCAM.L: Quote, Profile, Research, Stock Buzz)
reported better-than-expected assets under management (AuM) in
its third quarter, boosted by the takeover of rival Thames
River, and rising equity and bond markets.
F&C said on Friday AuM swelled 13.5 percent to 108.2 billion
pounds ($172.3 billion) in the quarter to Sept. 30, beating
analyst forecasts for 105-107.7 billion pounds, after winning
600 million pounds of net new business.

Its shares were up 1.89 percent at 67.25 pence by 0848 GMT
outperforming the FTSE All Shares index .FTSE, which was 0.49
percent lower, and prompting JP Morgan Cazenove to describe the
performance as “encouraging”, retaining its “neutral” rating.

    • About Cecilia

      "In my professional capacity I canvass fund managers, consultants and pension schemes on investments issues and write analytical pieces on investment trends. I also consult investors on M&A matters. My brief includes Islamic finance, especially sukuk issuance and Islam-compliant asset management themes. I joined Reuters News in September 2008 from Thomson Financial News, where I was European pension correspondent."
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