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Dollar deal for Asia currencies

SG Hambros is offering a capital-guaranteed structured product linked to the performance of Asian currencies against the US dollar.

The 12-month USD propulsive certificate offers investors 110 per cent of any appreciation of selected Asian currencies against the dollar over that period, with capital guaranteed if the product is held to maturity.

The basket is equally weigh- ted of Singapore dollar, Korean won, Taiwan dollar, Chinese yuan, Hong Kong dollar and Indian rupee.

Chief investment officer Andrew Popper says: “There is significant potential for Asian currencies to appreciate against the dollar. High levels of US treasury and agency bond purchases by Asian central banks have kept Asian currencies relatively weak against the dollar but sustained the competitiveness of their exports.

“But revaluing China’s yuan and reducing its dependence on the US dollar signals that Asian banks will no longer sustain purchases at these levels which is likely to weaken the US dollar against Asian currencies.”


FSA bans Young & Ridgeway IFA for breach of AP principle

The FSA has banned Young Ridgway & Associates former director Idris Nagaty from trading.Ridgway was accused of failing to ensure his firm was suitably organised to ensure customers’ interests were safeguarded. The FSA reached the conclusion Nagaty’s failings constituted breaches of its statements of principle for approved persons.Nagaty is prohibited from undertaking any significant influence […]

Mortgage View: Weathering the climate change

Hurricanes are not a way of life in the UK but extreme weather conditions are becoming common. Remember the storms of 1997 and 1990 which cost insurers billions of pounds and more recently the tornado that hit Birmingham? Rising sea levels and storm-surge heights, increasing seasonal rainfall and intensity are all growing problems. Climate change […]

Gartmore ponders flotation

Gartmore says it is considering flotation but has played down rumours that a move is imminent. Control of the company has moved from the UK to the US over the last year with the removal of UK chief executive Glyn Jones. US insurer Nationwide, which bought Gartmore from NatWest in 2000, is believed to be […]

A charter for the future

Chartered financial planner status is finally a reality after the Privy Council confirmed the title can now be granted. After four years of campaigning for the move, the Chartered Insurance Institute deputy director general Bob Bullivant says the qualification puts financial advice on the same professional footing as accountants and legal professionals. He describes chartered […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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