BGI to replace Merrill as sponsor of ETF Stoxx funds
Merrill Lynch, which initiated the European exchange-traded fund (ETF) market in 2000, has stepped down as investment manager and sponsor of the Stoxx 50 LDRS and Euro Stoxx 50 LDRS funds. Merrill’s original role will now be filled by Barclays Global Investors (BGI), which becomes Europe’s largest ETF provider, running E4bn, up from E2bn before the switch.

The recent flood of fixed interest and corporate bond fund advertisements urging the general public to buy into the bonds market has all of the feel of the late technology boom. Investors are lured with amazing historic returns, without reference to what the future may have in store. It is understandable that after three years of negative equity returns, the prospect of buying into a regular income producing asset has its attractions.

HSBC provides one-source service for offshore clients
The HSBC Group has integrated two offshore operations aimed at intermediaries catering to the needs of wealthy individuals.

As the battle for both winning and retaining accounts in private banking intensifies, the role of the brand is becoming central to strategy.