News

Asset allocation in focus after terror in Paris

The impact on markets has been very short lived as investors have learned from history that, after the initial contraction, markets revert quickly to levels before the event. The tragic events in France are still a reminder of the unknown and unexpected events investors have to accept when harvesting risk premiums in markets.

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Yield: One Commodity That’s Still Hot

U.S. and European stocks fell sharply last week. In the U.S., the Dow Jones Industrial Average fell 3.71% to 17,245, the S&P 500 Index dropped 3.62% to 2,023, and the tech-heavy Nasdaq Composite Index lost an even harsher 4.27% to close the week at 4,927. Energy-related and retail stocks were the worst performers, with the latter pulled down by growing concerns over holiday sales. The equity selloff also meant that volatility, as measured by the VIX Index, climbed back to 20 for the first time since early October.

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PIMCO Elects Daniel Ivascyn as Group Chief Investment Officer

PIMCO, a leading global investment management firm, has elected Daniel Ivascyn to serve as Group Chief Investment Officer (“Group CIO”), succeeding William H. Gross who has left the firm. In addition, the firm appointed Andrew Balls, CIO Global; Mark Kiesel, CIO Global Credit; Virginie Maisonneuve, CIO Equities; Scott Mather, CIO U.S. Core Strategies; and Mihir Worah, CIO Real Return and Asset Allocation. Douglas Hodge, PIMCO’s Chief Executive Officer, and Lew “Jay” Jacobs, President, will continue to serve as the firm’s senior executive leadership team, spearheading PIMCO’s business strategy, client service and the firm’s operations.

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The Swiss representative and Swiss paying agent

The regulations on the distribution of funds in Switzerland have changed. Fund providers need to assess their existing or planned distribution activities in Switzerland, and decide if they need to appoint a Swiss representative and a Swiss paying agent. OpenFunds briefly summarizes the requirement for a Swiss representative and a paying agent and terms that apply to the requirement and explains the respective roles.

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