Investment Management, Islamic Finance Correspondent
Cecilia's Feed
Sep 1, 2010

BHP investors set $155 as top price for Potash

LONDON/SYDNEY (Reuters) – Investors in mining group BHP Billiton have on average put a $155 per-share maximum on BHP’s bid for fertilizer producer Potash Corporation, according to a Reuters poll.

A sample of 26 BHP Billiton shareholders across Britain, continental Europe, Australia, Asia and South Africa on average said the acquisition would start be “prohibitively expensive” should it cross that threshold.

Sep 1, 2010

Warnings mount as retail ETF surge gathers pace

LONDON (Reuters) – Worries over opacity and liquidity could temper small-time savers’ enthusiasm for Exchange Traded Funds (ETFs), set to be boosted by a UK regulatory revamp of fees on products sold to private investors.

Retail investors are flocking to ETFs, which typically track baskets of shares, bonds or commodities and are traded like stocks. Assets under management of ETFs traded on European exchanges rose 43 percent to 183 billion euros in June, according to data from Thomson Reuters funds research group Lipper.

Aug 31, 2010

Analysis: Warnings mount as retail ETF surge gathers pace

LONDON (Reuters) – Worries over opacity and liquidity could temper small-time savers’ enthusiasm for Exchange Traded Funds (ETFs), set to be boosted by a UK regulatory revamp of fees on products sold to private investors.

Retail investors are flocking to ETFs, which typically track baskets of shares, bonds or commodities and are traded like stocks. Assets under management of ETFs traded on European exchanges rose 43 percent to 183 billion euros ($230.8 billion) in June, according to data from Thomson Reuters funds research group Lipper.

Aug 25, 2010

UK pension lifeboat to boost funding target

LONDON, Aug 25 (Reuters) – Britain’s Pension Protection Fund
(PPF), which pays corporate pensions when companies go bust,
plans to create a funding buffer to help reassure members it can
cope with the threat posed by longer life expectancies.

The PPF said on Wednesday it would build its solvency ratio
– how much of future liabilities are met by current funding
levels — to 110 percent over the next 20 years, from 88 percent
in March 2009.

Aug 24, 2010

Standard Life backs banks to protect debt ratings

LONDON (Reuters) – Standard Life’s (SL.L: Quote, Profile, Research) fund arm is betting investment grade debt issued by financials will deliver returns while the sector’s equities remain vulnerable to short- and medium-term shocks.

Guy Stern, head of multi asset management at Standard Life Investments and manager of the Global Absolute Return Strategies Fund, told Reuters the risk attached to debt issued by banks has tended to ignore the lengths to which they would go to protect their rating.

Aug 18, 2010

Henderson signals fresh M&A as outflows accelerate

LONDON, Aug 18 (Reuters) – Anglo-Australian fund manager
Henderson Group (HGGH.L: Quote, Profile, Research, Stock Buzz) said it was open to fresh acquisition
opportunities, when announcing outflows accelerated in the
second quarter on volatile markets and fragile confidence.

Henderson shares were down 4.8 percent at 130.3 pence at
0945 GMT on Wednesday, while the FTSE 250 was down 0.1 percent.

Aug 16, 2010
via Funds Hub

1st UK sukuk to herald new phase? Inshallah…

If  it was not the holy month of  Ramadan, I would confidently predict plenty of  Halal cork-popping in UK Islamic finance circles today, following news of the first company in Europe — International Innovative Technologies (ITT) –  to raise $10 million through a sukuk deal. 

This has been a labour of love… rumours and counter-rumours about which company, government or institution would do the honours have abounded since the UK shelved its plans for a 2 billion pound short-note sukuk programme at the end of 2008.  The UK may not be the only theatre of action in Europe – Luxembourg’s sukuk is rumoured to be on its way and France is equally open about its ambitions.

Aug 16, 2010

UK firm to launch first European corporate sukuk

LONDON, Aug 16 (Reuters) – A small British manufacturer has
become the first company in Europe to raise funds through sukuk,
starting off an industry which has struggled to find traction in
the wake of debt worries in Islamic finance centre Dubai.

International Innovative Technologies, a maker of industrial
milling machines in northeast England, has raised $10 million
through a private-equity-style sukuk to help develop new
products, its legal adviser, Norton Rose, told Reuters.

    • 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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