News Round-Up

Monday, February 11th 2008, 7:16AM
The CFA Institute Centre for Financial Market Integrity said today that it is encouraged by reports that global regulators, finance ministers and central bankers will be reviewing an international Code of Conduct Fundamentals for Credit Rating Agencies.

The CFA says that credit rating agencies need to distinguish structured product ratings from corporate ratings and improve their processes.

The institute has put forward eight proposals to improve the credit rating process.

Included in the list is a suggestion to refine or otherwise eliminate the concept of "investment grade" wherever possible to reduce the incidence of misconception about the purpose of the CRA's ratings.

New Funds 1


Liontamer has two new funds coming to market soon, these include an emerging markets fund and series five of its global funds.

These will be capital protected funds and the emerging markets one will be linked to an index made up with a weighting of 50% to Central Europe (Poland, Hungary, and the Czech Republic) and 40% to BRIC economies with the remaining 10% in Korea.

New funds 2
Man Investments is about to launch its Man OM-IP 3Eclipse fund. The fund will invest in more than 100 international markets, the economies of the Asia Pacific region and a range of commodity related investment strategies.

Property market slowdown
Statistics released on Friday and today show the housing market slowdown is gathering pace. According to Auckland's largest real estate firm house sales are down 41.5% in the past 12 months. Meanwhile QV says house price inflation could stop this year or even go negative in some regions.

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