FiNETIK – Asia and Latin America – Market News Network

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September 2, 2010 • 1:13 am 0

Mexico: Drifting Toward Troubled Waters – September 2010- IXE BANIF – Monthly Analysis

Slow US economy decreases Mexican expectations

The structure of the Mexican economy is unchanged when it comes to the breakdown between local and export markets, and we base our expectation for Mexican economic growth on both markets. We continue to expect a 4.4% GDP growth for 2010 (growths of 4.3%, 7.6%, 4.0% and 1.9% for each quarter, sequentially) while other, more aggressive houses, have reduced this from 5% to nearly 4%.

Despite the most recent reduction in 2H10 growth expectations, we maintain our figure in the belief that the local market will compensate for a likely weaker export scenario that heavily depends on the US economy.

We have assumed since last month that the US would grow at a lower than previously expected pace. Locally, the Mexican construction segment has been the weakest in the industrial sector, while manufacturing has led the economy. We expect export companies, which have been suffering from the weaker foreign market, to recover by year-end, although car exports have performed well even during these tougher times.

Mexican tidbits

Mexico’s inflation has been increasing and, from the current annualized 3.7%, we maintain our expectation of it reaching 4.7% by year-end. We believe that our expectation of interest rate hikes in 3Q11 might become market consensus soon.

The FX has moved negatively lately, after three months without definite direction. It has surpassed the P$13/US$ line, the worst level since the end of June. We still expect it to be at P$12 by year end but, if we do not see a downward movement over the next weeks, we might change this expectation to a P$12.25-12.35 range. We do not believe this potential change in the FX scenario would cause any change to Mexican exports, with the main driver here continuing to be the strength of the US economy (and demand).

For August, we have added Alsea and Femsa to our portfolio and increased the weights of America Movil (from 20% to 25%) and Walmex (from 10% to 15%). We also reduced the weights of GenomaLab and Geo (from 10% to 5%), and have withdrawn Cemex.

Read the full market analysis Mexico – Monthly Allocation – September 2010

Source: IXE-Banif, 01.09.2010

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August 18, 2010 • 9:14 pm 0

SMX To Go-Live On 31 August 2010

Singapore Mercantile Exchange (SMX), the first pan-Asian multi-product commodity and currency derivatives exchange, today announced that the Exchange will go live for trading on 31 August 2010.

With rapid economic expansion in the region and Asia’s demand for commodities, SMX is strongly positioned to offer an integrated and single-platform for multiple products. It has completed conformance testing with Independent Software Vendors (ISVs) and industry- wide testing with member firms prior to its impending launch.

Mr. Jignesh Shah, Vice Chairman of SMX and Group CEO of Financial Technologies Group, said, “SMX’s platform will herald Asia?s first stand-alone and next-generation global derivatives exchange for unrestricted cross-border trading in futures, options and other derivatives across multiple asset classes. We are looking forward to our newest venture to establish a footprint for transparent electronic trading that will manifest itself as a major platform for price discovery for commodities trading in Asia. SMX is well poised to unlock the immense potential of Asia and further position the region as a leading derivatives trading hub.”

Mr. Thomas J. McMahon, CEO of SMX, said, “We are witnessing Asia?s expanding influence on the global commodities market. SMX?s launch is a step in the right direction as we leverage off Singapore?s unique position as a premier financial and commercial hub in the region. The launch will provide market players in Asia the flexibility to trade products generic to regional trade flows within the Asian business day.”

The Monetary Authority of Singapore (MAS) recently granted SMX „Approved Exchange” status to operate as a regulated and fully licensed exchange.

The first phase of product launches will include a Gold Futures Contract with physical delivery in high-security vaults in Singapore, West Texas Intermediate (WTI) Crude Oil, Brent-Euro Crude Oil and Euro-US Dollar Futures Contracts, amongst others. The first phase of product launches will be followed by multiple product launches to be introduced in the market after consultation with industry participants.

Source, MondoVisione, 17.08.2010

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August 12, 2010 • 1:22 am 0

Black Rock Bob Doll: 10 pronósticos para los próximos 10 años

“10 perspectivas para los próximos 10 años”, en el que Robert C. Doll, Vicepresidente y Estratega en Jefe de Capitales para Capitales Fundamentales de BlackRock, Inc. (NYSE: BLK), da sus pronósticos sobre el ambiente para las inversiones en la próxima década.

  1. La renta variable de E.U. experimentará retornos totales porcentuales de un solo digito después de la peor década desde 1930
  2. Las recesiones ocurrirán más frecuentemente durante esta década, en vez de solamente una vez cada década, como ocurrió en los últimos 20 años.
  3. El sector salud, la tecnología de información y alternativas energéticas liderarán las áreas de crecimiento en E.U.
  4. El dólar estadounidense continuará siendo menos dominante según avance la década.
  5. Las tasas de interés se elevarán irregularmente en los países en vías de desarrollo.
  6. El interés del país derivará en más conflictos comerciales y políticos.
  7. Una población en vías de envejecimiento genera para Europa algunos de los problemas de Japón.
  8. El crecimiento mundial se deriva del consumo en los mercados emergentes.
  9. Los mercados emergentes influyen en el aumento de los índices globales significativamente.
  10. Continuará el ascenso económico y político de China.

leer el reporte completo de Bob Doll BlackRock 10 perspectivas para los próximos 10 años

Fuente: BlackRock/ CarralSierra 02.08.2010


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July 23, 2010 • 2:22 am 1

Alternative Latin Investor Issue 5 July/August

Alternative Latin Investor Issue 5 July/August 2010 click here for a free issue

Issue 5 Content Index

  • Argentine Wind Power A solid investment opportunity in Argentina’s market for wind energy
  • Vanilla Investment potential of the world’s second most expensive spice
  • The Latin American Trust Patricio Abal & Gonzalo Oliva-Beltrán explore a useful tool in project finance.
  • A New Era for Investment in Argentina Javier Canosa discusses post crisis investment issues in Argentina
  • Mexico: Superstar Player of the Emerging Economies Latin America’s newest investment beacon
  • Cuba: Return to capitalism?
  • Merlin Securities’ Best Practices for Latin American Fund Managers
  • Christie’s Latin Art Sale Breaks $20 Million Dollars
  • Chinese Brazilian Trade Ties Continue to Grow
  • Fine Wine Investors Thank Latin America for a Healthy Profit
  • Nordeste Invest : Coming to terms with a new reality        
  • Mark McHugh discusses the resilience of the Brazilian Real Estate Economy
  • Lending Opportunities In Mexican Affordable Housing
  • Mexico’s sovereign debt looks more attractive at present than that of any other G-8 country
  • LatAm Real Estate Index
  • Private Equity real estate investing  in Latin America
  • Forex:  The World Cup Effect
  • Investment Analysts Try Their Luck with World Cup

Source: Alternative Latin Investor 23.07.2010

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July 21, 2010 • 2:43 am 0

Panama: Banco General live on Charles River IMS

Charles River Development (Charles River), a front- and middle-office investment software solutions provider, today announced that Banco General, S.A., the largest private banking institution in Panama, is live on Version 9.1 of the Charles River Investment Management System (Charles River IMS).

The project, delivered on-time and on-budget, is part of Banco General’s initiative to automate the firm’s wealth management operations. Key project goals included: integrating workflows of Banco General’s Private Banking unit and BG Valores brokerage subsidiary on a single platform; providing access to remote brokers; and enabling real-time electronic trading via FIX (Financial Information eXchange).

Over 50 Banco General users benefit from Charles River IMS’ automated portfolio management, trading, and compliance monitoring, as well as seamless integration with accounting and other back-office providers. Users include 39 remote BG Valores brokers who leverage the Charles River Anywhere browser-based workstation to remotely monitor and manage portfolios, compliance, trades and post-trade information in real-time for wealth management clients. The Charles River FIX Network enables Banco General to route orders electronically to its primary offshore broker.

“Charles River IMS has increased our efficiency and reduced operational risk, creating a unified platform and delivering remote capabilities to service both our Private Bank and BG Valores clients,” said Carlos E. Samaniego, Assistant Vice President, BG Valores. “We now have fully-integrated order capture and trading workflows, and FIX trading capabilities. We can also validate compliance anytime – across all asset classes and domestic and international orders – whether trading Panamanian Bolsa de Valores securities, fixed income instruments, hedge funds or mutual funds.”

Supporting BG Valores’ remote brokers was a key project goal. With Charles River Anywhere, brokers can quickly originate client-directed orders and access account information in real-time. “Charles River understands the wealth management business,” said Samaniego. “They have delivered the best technological solution, training and support to meet our operational needs, as well as tools to help build client relationships.”

Banco General also streamlined its processes for trading equity and options orders with real-time global electronic FIX trading through the Charles River Network. The firm connects to its brokers via Charles River’s low-cost, internet-based Virtual Private Network option. Charles River’s FIX Network Services provides Banco General with complete FIX software administration, connectivity management and support for each sell-side broker and trading destination. The Charles River Network is fully integrated with Charles River IMS and includes over 120 buy-side firms, 440 broker-dealers, and has 3,700 live broker/client FIX connections.

“Charles River helps wealth managers, like Banco General and BG Valores, support high volumes of high-net worth, SMA, UMA, UMH and discretionarily-managed portfolios,” said Spiros Giannaros, Vice President-Sales, Americas, Charles River Development. “Many of our wealth management clients have rolled out Charles River Anywhere to their Financial Advisors because it increases their efficiency by making account information available 24×7 – anywhere.”

Source: Finextra, 21.07.2010

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