Euro briefs

Skandia adds Neptune double to fund range

Fund of funds provider Skandia has added two funds from Robin Geffen’s top performing Neptune stable to its range. Neptune was praised by Skandia’s selection team for its “excellent reputation” and ability to provide real returns. According to Standard & Poor’s, in 2002, Neptune’s Balanced fund ranked first out of 267 funds, and the UK equity fund ranked second out of 284 funds.

Baring hedges its bets on Chinese catalyst Baring Asset Management has launched a new Asian fund of hedge funds aimed at institutions and private clients. Tom Maier, chairman of Baring’s alternative investment committee, is aiming for a volatility of between 7 and 9 per cent, compared with 21 per cent for the Pacific market. Mr Maier said China’s economic liberalisation is acting as a positive catalyst, creating “a number of attractive long and short opportunities”. The Cayman-based fund is listed in Dublin and available in euro, dollar and sterling share classes.

FTSE’s global 4500 Index provider FTSE has created a new Global Small Cap index series covering 4500 companies (minimum size $100m) in 49 countries.

Moody’s announces iBoxx rating The iBoxx Euro Liquid Corporates, an exchange-traded fund (ETF) issued by BGI under the iShares brand, has been assigned an A3 bond fund credit rating and an MR3 market risk rating by Moody’s. According to Moody’s, this is the first corporate bond ETF available to European investors, and the largest ETF ever launched in Europe. The ratings, said Moody’s, are based on credit quality, management relative to objectives and the fund’s strong compliance programme.