Commodity Portfolio Management News
Brent futures added to Dow Jones-UBS Commodity Index
New York, 12 October 2011
New target weightings for the Dow Jones-UBS Commodity Index and the addition of the Brent futures contract as part of the index’s crude oil component were announced today by Dow Jones Indexes and UBS Investment Bank. Changes to the index, scheduled to be effective in January 2012, were determined and approved by the Dow Jones-UBS Commodity Index (DJ-UBSCI) Supervisory Committee following consultation with the Dow Jones-UBS Commodity Index Advisory Committee.
Read more: Brent futures added to Dow Jones-UBS Commodity Index
ICI Global launched for global fund industry
London, 10 October 2011
The Investment Company Institute (ICI) today announces the launch of ICI Global, a new trade organisation to focus on regulatory, market and other issues for global investment funds, their managers and investors. ICI Global members will include regulated U.S. and non-U.S. based funds publicly offered to investors in jurisdictions worldwide, making it the first industry body to focus exclusively on the perspective of globally active funds. The new organisation will be based in London.
LCH.Clearnet to accept gold as collateral
London, 6 October 2011
LCH.Clearnet is to extend the range of eligible collateral types to include gold bullion by the end of October 2011, subject to final regulatory approval. In accepting gold as cover for margin liability, LCH.Clearnet is delivering greater choice and flexibility to market participants. Globally, gold has seen rapid growth in investment and regulators are looking for more OTC derivatives to be cleared.
S&P GSCI Total Return -12.17% (Sept/11)
London, 4 October 2011
Moving Closer to Recession Reality: The S&P GSCI performed poorly in September as the index declined 12.17%, reversing the year-to-date return to a loss of 9.30%. “Risk-off” mode overwhelmed the marketplace on the month, as measured by the 7.03% month-to-date (MTD) decline in the S&P 500, 6.31% increase in the U.S. Dollar Index and 2.16% increase in the S&P/BG Cantor 7-10 Year Treasury Bond Index. Fears that the global economy was heading closer to recession and that the pace of growth in China was declining continued to grow.
Gold to clear $2,000 in 2012 as rally cools-LBMA poll
Montreal, 21 September 2011: Reuters
Gold's rally will extend beyond $2,000 an ounce in the next year, but won't match the record-breaking 50 percent surge of the last 12 months, according to an annual survey of gold investors and analysts at the world's biggest bullion traders event. With no let up seen in the financial markets uncertainty that fanned the safe-haven investment spree, bullion is expected to rise to $2,019 an ounce by November 2012, according to an anonymous survey of delegates at the conclusion of the London Bullion Market Association's (LBMA) annual conference on Tuesday. That is about 12 percent above current levels.
Read more: Gold to clear $2,000 in 2012 as rally cools-LBMA poll
How to access China
London, September 2011
A foray into the Chinese capital markets - Webinar Invitation: With the opening of the financial markets in China, trading firms from around the world are increasingly interested in the these markets. While the volumes at the three commodity exchanges in Dalian, Shanghai, and Zhengzhou dropped to 470 million lots in the first six months of 2011, compared to 762 million in the same period in 2010, trading opportunities in the world’s biggest commodity markets are plentiful. Our distinguished speakers will not only share their knowledge about the Chinese market structure, the participants and trading opportunities, but equally important, they will explain how to capture those opportunities in a jungle of regulations, cultural differences and technological challenges.
ETF Securities surpasses US$30 bn in assets under management
London, 7 September 2011
ETF Securities, pioneers in specialist exchange-traded products (ETPs), has seen its assets under management (AUM) surpass the US$30 billion (1) mark. Over the past 12 months, ETF Securities' AUM have increased by 52% as investors seek the safe-haven status of gold against a backdrop of economic uncertainty and financial market volatility. As at the end of August, ETF Securities' physically-backed precious metal ETPs accounted for 74% of AUM.
Read more: ETF Securities surpasses US$30 bn in assets under management
Sino-US financial imbalances bound to grow further
London, 18 August 2011
China’s official FX reserves hit a stunning USD 3.2 tr in July. Beijing will have no choice but to accumulate US government debt for the foreseeable future. Under the IMF baseline scenario, China could end up holding close to 1/3 of all US treasuries (held by the public), according to Deutsche Bank Research.
Read more: Sino-US financial imbalances bound to grow further
S&P GSCI down 6.4% this week
London, 13 August 2011
Risk-Off Greets August: August Total Return: -6.40% (-1.52% YTD). As of August 11th, the S&P GSCI Index declined 6.40% on the month on the back of a 9.15% decline in the S&P 500 and 1.26% rally in the U.S. Dollar Index. Sharp global equity market corrections have pressured the economic sensitive commodity sectors, notably energy and industrial metals.
Commodity crunch marks end for passive indices
London, 10 August 2011: Reuters
Commodity futures have again failed to offer a safe haven from turmoil in global equity markets and other asset classes. The past week's sell-off across commodity markets likely marks the end of the road for "first generation" indices such as the Standard and Poor's Goldman Sachs Commodity Index which have been marketed to institutions as offering a passive long-term risk premium similar to equities as well as portfolio diversification.
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