News 9 Apr 18
Old Mutual Int’l to sue over structured product commission
Old Mutual International is taking legal action against Swiss-headquartered Leonteq Securities relating to false statements about the levels of commission paid to advisers on structured products, International Adviser can reveal.
Offshore structured product research service unveiled
UK-based structured product specialist FVC has launched an offshore version of its Structured Edge research service, which is free for financial advisers to access.
IDAD on why investors should take a fresh look at structured notes
Structured products should have a place in any investor’s modern portfolio, especially where pension transfers are concerned, explains Graeme McCallion, Africa sales manager of iDAD.
HSBC fined record HK$400m for Lehman Brothers-related failures
A Hong Kong tribunal has upheld disciplinary action taken against the local branch of HSBC Group’s Swiss private banking business for “material systemic failures” in relation to the sale of structured products, including from Lehman Brothers, in the run up to the global financial crisis.
Zurich International unveils target date fund range
Pension provider Zurich International has introduced a range of dollar-denominated target date funds (TDFs) aimed at gradually reducing the risk investors are exposed to as they approach retirement.
European investors make switch to smart beta
In the first half of 2016, investors in Europe have poured in $5.7bn (€5.1bn) into smart beta funds as market capitalisation index trackers saw outflows over the period, according to Morningstar data analysed by ETF provider WisdomTree Europe. Brexit could be one of the reasons for the switch.
Guaranteed products gain in volatile markets, says Beechwood
Beechwood Bermuda, a provider of capital guaranteed investment plans for the international market, said current market volatility has put it on course for record monthly sales.
Australian adviser sues former employer for $1.5m bad advice
An Australian financial planner is suing his former employer Westpac Institutional Bank for A$800,000 ($591,704, £444,479) on the grounds that his colleagues gave him bad advice about investing in structured financial products.
Costs seen as top reason for ETF use, but income attractive
British professional investors are increasingly drawn in by the cost efficiency, liquidity and income earning potential of ETFs and ETPs, a study commissioned by Source UK Services found.