Exchange-traded funds (ETFs)
US Wrap: JP Morgan launches kickout on gold equity fund
JP Morgan has unveiled a new autocallable note linked to the Market Vectors Gold Mining ETF. The 18-month investment will pay a coupon of 5.25-6.25% if the fund is at 100% of its initial level after three months. If not, the product will continue to its…
Testing the metal
Interest in physically backed exchange-traded gold products boomed last quarter on the back of counterparty risk fears. But the industry is divided on what impact the surge of inflows had on the physical gold market's prices. Could the same effect now be…
Size matters at Lyxor
Lyxor has been building its exchange-traded fund business for eight years and now boasts EUR24.4 billion of assets under management - almost a quarter of the European market. What began as a single offering on the CAC 40 now aims to be a complete toolbox…
Holding counterparty risk at arm’s length
Exchange-traded funds have been as exposed to talk of counterparty risk as the next structured product, although the risk is lower. Under the European Union's Undertakings for Collective Investment in Transferable Securities III regulations, ETFs are…
Tapping the Source
Goldman Sachs, Morgan Stanley and Bank of America Merrill Lynch took a look at the exchange-traded product market, particularly in Europe, and decided that to enter as a provider they needed scale. So the three got together and created Source. Richard…
Wrap it up and start again
Marketing structured products is a tough challenge, with both nascent and established markets battered by the Lehman Brothers collapse. Meanwhile, providers must also adapt their techniques to suit interactive and online channels, and be increasingly…
'X' marks the spot
In a little over two years, DB x-trackers has captured an impressive 17% share of Europe's ETF market. With an existing portfolio of more than 100 products, the provider now plans to expand its offering in Asia while developing new product types such as…
Safe haven
Gold has been a favourite with investors looking for a safe haven since last year’s turbulence began. But will this persist in 2009, or will the precious metal start to lose its shine as a hedging option? Pauline McCallion finds out
The pause before paradise?
If you think markets are finally at the bottom, this could be the time to start making the switch from cash. You could also plump for credit products in 2009. All that is required is a return of stability, meaning no more horror stories. But how likely…
Lost shine
Gold
Bust beneficiaries
Exchange-traded funds