Maria Vittoria Malavolta MSc

HSBC to provide fund administration to BlackRock’s ETF. The BlackRock Investment Management iShares marks the debut of BlackRock’s iShares exchange traded fund platform in Taiwan https://lnkd.in/eu8Rq9yK #fundadmin #Custody

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𝗙𝗶𝘅𝗲𝗱 𝗜𝗻𝗰𝗼𝗺𝗲: 𝗦𝘂𝗽𝗽𝗼𝗿𝘁𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁𝘀, 𝗧𝗶𝗴𝗵𝘁𝗲𝗿 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 Credit markets remain constructive — but the margin for error is narrowing. Primary markets continue to absorb supply, spreads are tight, and carry is still available. At the same time, investor behaviour is becoming more selective where pricing is pushed too far. What stands out this week 👇 ▪ Primary issuance remains well supported, but pricing power is increasingly tested ▪ Spread tightening continues, with clearer differentiation by quality and sector ▪ Hybrids remain resilient, yet discipline is returning in bank capital ▪ Structured credit (CLOs) continues to attract strategic allocations, with quality in focus

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Schroders pushes ahead to convert British Opportunities trust into purely private mandate with vast changes. Schroders has unveiled its full conversation proposal to British Opportunities trust shareholders as it seeks their approval to move the mandate it into a purely private asset vehicle, as its listed holdings struggle to generate returns. Check out Eve Maddock-Jones' latest article 👇 https://incm.pub/3GWIA63 #investment #wealthmanagement #assetmanagement #finance

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For UK professional investors only. Today, Capital Group launches the Investment Company of America (ICA) strategy as a UK OEIC, expanding access to US equities with a strategy backed by more than 90 years of experience. ICA invests in established US companies with resilient earnings and dividend growth through a high-conviction, diversified approach. This launch becomes Capital Group’s fourth UK OEIC, further strengthening our growing range for UK investors. Invested capital is at risk. Please refer to the Prospectus and KIID at capitalgroup.com.

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🗞️ FX Market Snapshot - 11 July 2025 🔑 UK GDP disappoints, dollar dominance builds 📌 Today’s Focus: UK GDP unexpectedly contracted again in May (-0.1%), following April’s -0.3% reading, raising new concerns about the UK’s economic trajectory. Weakness was broad-based, with declines in manufacturing, industrial production, and construction output. The services sector barely eked out a 0.1% gain. This is a blow to the new government’s efforts to project stability and growth, and it casts further doubt on the Chancellor’s optimism. With productivity stagnating and economic inactivity still over 21%, the UK faces mounting structural pressures. 💷 GBP Sterling slips on grim growth data: • May GDP fell 0.1% vs. forecasts of +0.1%, led by declines across production sectors. • GBPUSD broke below $1.3570 on Thursday and has since fallen toward $1.3550 - we now watch for potential extension toward $1.3450 if sentiment worsens. • GBPEUR has dropped below €1.16, testing the bottom of its recent range. Risks skew to the downside. 💶 EUR The euro is broadly stable but not a standout: • EURUSD continues to hold above key support at $1.1685/90, despite a generally firmer dollar. • With few eurozone data releases this week, the single currency is tracking broader USD moves and GBPEUR dynamics. 💵 USD Dollar strength solidifies into the weekend: • The DXY is set for its best week since February, finally breaking a 7-week downtrend. • Jobless claims: Initial claims fell for a fourth straight week to 227K, but continuing claims hit a post-2021 high, indicating mixed labour signals. • Fed speak: ◦ Waller supported possible July rate cut, cautiously backing continued balance sheet runoff. ◦ Daly sees two cuts in 2025, downplays tariff-driven inflation. ◦ Musalem expects more clarity on inflation risks by late 2025. • Overall tone from the Fed suggests a resilient economy with manageable inflation concerns – supporting the dollar. 📅 Key Events: • 🇬🇧 UK GDP (Actual: -0.1% vs. +0.1% est.) • 🇨🇦 Canada Unemployment Rate 📈 We help corporates and HNWIs manage FX volatility with clear guidance and tailored solutions. Get in touch to discuss today’s moves. #FX #Forex #USD #GBPUSD #EURUSD #UKGDP #RecessionRisk #Fed #Crypto #Bitcoin #MarketUpdate #LinkedInFinance #RateCuts #Tariffs #Inflation

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“All-to-all trading centralizes diverse flows into a transparent pool, enabling tighter spreads and faster execution." Hear from Ramon Puyane, our Head of FX Trading, in Eurex's ‘FX market targets listed efficiencies with options push,’ where he explores liquidity trends and IMC’s decision to expand into listed and OTC options together with Santander Asset Management. Find the full article here: https://bit.ly/4miUmpZ

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Matt Britzman, CFA, senior equity analyst at Hargreaves Lansdown, discusses how UK markets edged higher despite mixed signals from retail sales and consumer confidence, while Wall Street set fresh record highs and oil prices fell for a third straight session. #Markets #US #UK https://lnkd.in/e7KbQsnA

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High yield spreads may be tight, but opportunity is still on the table for investors who know where to look. DWS Group Xtrackers’ Ben Spalding shows where and how in this latest edition of "Ask the Manager." 👉Read here: https://lnkd.in/eZbW2TNb

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Sharing this again as the article has been updated with some very interesting reaction comments that have come in from John Husselbee, Bev Shah, Sheridan Admans, Darius McDermott and Ben Yearsley. Huss: "This is big news to my mind. This announcement reflects a structural shift in the industry rather than a one-off event." https://lnkd.in/ebHbvY7n

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Great to be included in The TRADE News Crystal Ball predictions for 2026! Find me on page 69 of the Q4 2025 edition! Ed Wood, trader, Ninety One  In 2026, the buy-side trader will have to start thinking smarter. Tools like automation are no longer a nice-to-have, they are a necessity to stay competitive. Traders will have to start making smarter venue selection. Because ‘we’ve always done it this way’, is no longer an acceptable response. Cost pressure, internal oversight, and best execution scrutiny are driving desks to justify each trade’s journey, as well as demanding venues offer smarter solutions. That comes from traders engaging with the venues, along with the desire and willingness to be adventurous. Risk taking is not just for risk takers anymore.   We should all be asking ourselves, why do we do it this way? How can we get better outcomes for our clients? And what are our peers doing that we’re not? Traders are evolving into micro-optimisers, but optimisation is a continuous process. As desks feel the need to adapt in 2026, traders need to be able to stay up to date and stay relevant. Those that do, and become venue product experts, will sail to the front of the flotilla. Those that stay doing things ‘the way we’ve always done it’ will fall to the back and could struggle to compete in rougher seas.

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Adam Kibble delivers his portfolio update for June 2025 for the Schroder Absolute Return Income Fund, sharing his thoughts on the opportunities in #bond yields and #credit spreads. He also gives an overview of the fund and its goals, and covers fund performance, Schroders' outlook on the market, and how the portfolio is being positioned in light of current market dynamics. Watch now: https://okt.to/TqnRSa #Schroders #SchrodersAU #Investing #FixedIncome

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Ninety One spots South Africa stock buys amid Iran war dips. Undervalued equities offer big upside for investors as energy chaos creates rare opportunities. Ninety One Plc, the London-listed asset manager with deep South African roots, is doubling down on local equities, calling the Iran war's market panic a golden buying opportunity as stocks trade at discounts to their strong earnings potential. While global energy shocks from the conflict have hammered prices worldwide, Ninety One sees this volatility as a contrarian edge for bold investors. This matters because war-driven dips like these test true market discipline, offering business leaders and professionals a chance to position for outsized returns when panic fades. South Africa's market, buoyed by robust corporate earnings and hopes for conflict resolution, stands resilient amid broader turmoil, potentially unlocking alpha for portfolios and career-defining moves for ambitious finance pros chasing emerging market edges. With N... Continue reading 🔗: https://lnkd.in/eSw56i6n #Investing #SouthAfrica #EmergingMarkets #Geopolitics #StockOpportunities

Amidst higher market volatility in the first half of 2025, EBS Direct, CME Group's FX bilateral trading spot platform serviced clients with high fill ratios (over 95%) and low hold times (under 5ms). The platform provides clients with bespoke, relationship-based spot FX pricing from a panel of FX Global Code compliant liquidity providers, supported by our next-generation technology. See our latest fact sheet for more information.

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ICYMI: Here's my story on Fidelity International's Diversified LTAF, which is set to allocate between £1.5bn and £2bn towards private markets over the next three years. “How much capital potentially we’re committing to the UK market in the foreseeable future or in the next few years will be crucial,” said portfolio manager Vivian Liu. “[We need] to understand the impact of whether the market can absorb a big amount of investment. Also, we need to understand its impact on expected returns.” https://lnkd.in/ewUEhT6u

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