Grant Davies

Sarron Futures – Yes Sarron Futures! Lots of market chatter about yesterday’s sell in front June. With an open interest increase of 2259 lots I’m not sure what that indicates – thoughts welcome. Potential fat finger? Curious to know if any else struggles with the post libor contract names, too many S’s.. Sofr, Sonia, Sarron or SFR, SFI, SSY - execution risk right there imho! If you trade Sarron please drop me a Bloomberg, I’m working on something that I hope will improve trading and liquidity for all participants. #markets #futures #ice #icestirs

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FCA eyes extension of SDR remit to include portfolio managers. The Financial Conduct Authority has published a consultation paper looking to extend the remit of the Sustainability Disclosure Requirements (SDR) to portfolio managers. Sacha Sadan. Check out Cristian Angeloni’'s latest article 👇 https://incm.pub/3Uw3Kfk #investing #assetmanagement #wealthmanagement #finance

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In the latest issue of ETF of the month in #etfinsider we put a spotlight on BlackRock iShares STOXX Europe Small 200 UCITS ETF (EXSE) 👏🏻 ETF Stream

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In this latest manager update video Thomas Moore, manager of abrdn Equity Income Trust, shares the strategy of the trust, key investment themes, and discusses its portfolio of UK quoted companies. Capital at risk. Watch here: https://ow.ly/us0H50RQxre #AEI#EquityIncome

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Another insightful piece of commentary from Hardeep Tamana. Here at Avenir Registrars Ltd, we actively seek solutions to immovable barriers and work with issuers to implement change to improve shareholder value. If you would like to hear more, do get in touch. #CorporateGovernance #InvestorRelations #ESG #ShareholderEngagement

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Sicon Fixed Assets is aimed at businesses requiring a real-time understanding of their asset position. Linking directly to the financial ledgers and month end processes, this is a simple module to use and will appeal to a broad range of client requirements. #Sicon #FixedAssets

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Templeton Emerging Markets Investment Trust PLC's (TEMIT’s) board is frustrated by the company’s persistently wide discount so it has announced a series of measures aimed at increasing demand for the trust’s shares. These are an acceleration in share repurchases, a commitment to at least maintaining the current annual dividend, a conditional 25% performance-related tender offer and a phased reduction in management fees. TEMIT’s two managers, Chetan Sehgal (lead manager) and Andrew Ness, remain positive on the outlook for emerging markets and consider that the general lack of appreciation of their prospects is providing a good opportunity for global investors. Emerging markets offer the potential for above-average growth with attractive absolute and relative valuations. Edison Group #investment #strategy #sustainability #emergingmarkets https://lnkd.in/djAMXDx9

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Protecht's Managing Director EMEA Gary Lynam has an article in the latest edition of International Banker magazine discussing Protecht's survey of UK financial services institutions. The survey highlights the strategic adaptations and investments banks are making to navigate a rapidly changing financial landscape, with the backdrop of regulatory evolution and increasing reliance on technology. Find out more and read the article: https://hubs.ly/Q02xSJDt0 If you are interested in finding out more about our UK financial services survey, then you can download it here: https://hubs.ly/Q02xSFTG0 #internationalbanker #ukbanks #risksurvey #operationalresilience

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📢 NOW LIVE: Accelerating through change - FE fundinfo's 9th Annual Financial Adviser Survey 2023 brought some major developments to the advice industry, with the introduction of the FCA's Consumer Duty bringing far-reaching regulatory implications for both advisers and their clients - whilst ChatGPT and other large language models enabled new efficiencies and ways of working. Read the report to discover how financial advisers are responding to these regulatory and technological changes to improve their business and enhance outcomes for their clients. ➡️ Download now: https://hubs.ly/Q02B8sXR0 #FinancialAdvisers #ConsumerDuty #AI #ResearchReport

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Our latest Oxford Risk Guide to #Investment #Suitability: More Than Mere Measurement. What are all the component parts? How do you make sure you're measuring them right? How do they all fit together? This is particularly topical right now with the FCA's Retirement Income Advice #ThematicReview where they note emphatically that most practice is quite a long way from best practice ... particularly when it comes to #RiskCapacity (#CapacityForLoss). "A good suitability assessment is greater than the sum of its component parts. Each of those parts must be measured, and measured well, but the way in which you measure them, especially with an eye on how they all fit together, is just as crucial as what you measure in the first place." #BehaviouralFinance #FinancialPersonality #DecisionProsthetics #FinancialAdvice

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Alex has a great summary of the BlackRock - Preqin deal here. And his excellent Substack is quickly becoming part of my weekly required reading!

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Week 22: After a tougher week for fixed income RM Funds see excellent opportunities within credit to exploit after the weakness seen post UK CPI within UK credit and fixed income. The back up in yields is now offering tremendous value for money: 5 year yields touched 3.4% on 27th Dec and at one point last week touched 4.3%. We (still)do not believe we see the wides of last year/Overall in credit we (still) favour the front end with 1 year IG offering circa 5.4% and we are u/w longer dated A & BBB credit which is offering 80-130bp over gilts. Spreads have begun to widen over recent weeks, RM Funds suspect this will continue over the coming months. Sector positive: Natgrid rights issue shows the defensive nature and size of the assets the SVS RM Infrastructure bond allocates into.

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Commenting on the latest Bank of England interest rate decision, Abhimanyu Chatterjee, Chief Investment Strategist at Dynamic Planner said: “It does not come as a surprise to any market participant that the Bank of England has held the interest rates at 5.25%. What does come as a surprise is that there was a split in the vote, with two members voting in favour of rate cuts. "According to the MPC, growth is expected to return to the UK, if figures of 0.4% in Q1 and 0.2% in Q2 can be considered to be growth. But demand is expected to be weaker than supply, with unwinding of higher energy costs to help temper inflation." Abhi continued: “Reading the comments, one understands the reasoning behind the split vote. This will no doubt fuel expectations of rate cuts in the upcoming meetings, driving yields down and creating exuberant equity markets – to further bolster the 'feel-good' factor in the economy. "However, it would be prudent on the part of the Bank of England to carefully consider the next steps, as the conditions which caused inflation to be stickier than expected have not changed. The agglomerated effects of the macro environment could weigh heavily on the interest rate decisions. While it is desirable to have lower interest rates to fuel growth, the unintended consequences of a hasty decision could possibly make us careful what we wish for." #BankofEngland #InterestRates #UKeconomy #BoEdecision #monetarypolicy

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Driving good outcomes. Underpin your centralised propositions with institutional-quality investment research. 📚 Pick multi-asset solutions ⚖️ Select discretionary MPS 🔧 Or build your own solutions Dynamic Planner. Helping you match people with suitable solutions, through engaging financial planning. https://hubs.ly/Q02ByBM20

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Listen in as we explore the outlook for equities, credit, rates and inflation in our latest webinar. UK professional investors only. Capital at risk https://ow.ly/L24r50RJy04

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Sign-up to our My Folio Q2 webinar on 25 July, featuring a macroeconomic outlook and Q2 fund performance review. Professional investors only. Capital at risk https://ow.ly/LOAf50SuI5K

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After a turbulent past few years, there now appear to be signs of optimism, with interest rates stabilising. We observe recent lending market data and look at actions our clients have been taking to maintain portfolio performance. https://lnkd.in/eM9KCU2e #creditrisk #analytics #lending

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“Banks and brokers are getting squeezed on both ends, which is where we are seeing customer service deteriorating,” according to Jesse Forster. 'Citadel Securities Crafts Plan to Shake Up Banks’ Trading Desks' Fixed income asset managers are grappling with declining customer service from sell-side trading desks. As banks reduce capital allocated to trading in credit sectors due to high RWA charges, maintaining service and liquidity in vast credit sectors like securitized products becomes increasingly challenging. Banks have been slow to adapt their trading businesses and incentive structures in these sectors under Basel III regulations, paving the way for disruptors like Citadel Securities to capture market share or take over their business lines. Entegra addresses these challenges by offering: 1.  Trading as a Service: Entegra provides a white-label trading service to partner banks, helping them support clients beyond deal closing and enhancing their ability to secure new-issue mandates. 2.  No Cut of Trading Profits: Entegra's subscription model reduces the cost of providing a 'full service' business, uses less capital than a traditional secondary trading business and most importantly we do not take a cut of trading profits. 3.  Aligned Incentives: Entegra's success is measured solely by the growth in partners' new-issue mandates, as our shared-success approach ensures our incentives are aligned with those of our partner banks. As bank capital rules evolve, the trading business model must adapt. At Entegra, we believe our model is essential for banks facing pressure from all sides to thrive in the evolving regulatory environment. #Entegra #Trading #ClientService #FixedIncome #SecuritizedProducts #SecuritizedProductsTrading

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