Latest news with #AberdeenGroup
Yahoo
10-08-2025
- Business
- Yahoo
Carry Traders Ramp Up Bets in Emerging Markets as Fed Cuts Loom
(Bloomberg) -- Carry trade is making a comeback among emerging market investors as bets the Federal Reserve's will kick off interest-rate cuts next month weaken the dollar and fuel appetite for high-yielding currencies. New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms Money managers from Neuberger Berman Group LLC to Aberdeen Group Plc. are piling into currencies from Brazil, South Africa and Egypt, saying a weaker greenback and easing volatility make the environment ripe for the strategy, in which traders borrow in lower-yielding currencies to buy those that offer higher yields. The trade, which posted double-digit returns this year before hitting pause in July as the dollar rebounded, is now gaining steam again after a dismal US jobs report fueled bets policymakers will have to lower borrowing costs next month to avoid a recession. DoubleLine to UBS are among those who have joined a chorus of greenback bears in recent days, saying the dollar negative story is 'back in play.' 'The risk that the dollar has a big resurgence is probably very limited and growth still behaving relatively okay,' said Gorky Urquieta, the co-head of emerging market debt at Neuberger Berman, who favors carry trades in South Africa, Turkey, Brazil, Colombia, Indonesia and South Korea. Donald Trump's erratic policies have left traders scrambling to diversify their holdings, sending the US Dollar Index to its worst first half of the year since the 1970s. The shift, which comes after a decade of US outperformance, has pulled in cash to emerging market assets following three years of outflows. Global funds dedicated to developing-world debt have seen inflows every week for the past four months, with investors pouring in $1.7 billion in the week ended Aug. 6, according to a Bank of America Corp. note citing data from EPFR. An index of local bonds has returned more than 12% as 18 out of 23 main EM currencies have gained against the dollar this year. The appetite is such that the gap between gauges measuring expected volatility in emerging currencies versus their Group-of-10 peers over the next month is hovering around the highest in 12 years, signaling far less turbulence ahead for the developing world. Higher-for-longer The recent hawkish stance from some central bankers in emerging markets amid inflation and tariff concerns has further added to the appeal of carry trades. Over the past two weeks, Colombian policymakers surprised markets by holding borrowing costs at 9.25%; India also kept rates unchanged, opting for a wait-and-watch approach; in Brazil, which boasts some of the highest interest rates in the world at 15%, policymakers said they'll keep a cautious stance after Trump slapped the nation with a 50% trade levy. 'Carry is an important part of the story,' said Kieran Curtis, the head of emerging-market local currency debt at Aberdeen. 'The Brazilian real long is one of our favorite positions — and it's really driven by the yield.' Leveraged funds ramped up bullish bets on the Mexican peso to the highest in almost a year in the week ended Aug. 5, according to the latest data from the Commodity Futures Trade Commission. That covers the days following Mexico's central bank decision to slow the pace of monetary easing. Lower volatility in global markets, meanwhile, leaves the low-yielding Asian currencies adrift, according to firms from McKay Shields to BNP Paribas. Asian FX has an average carry of minus 1.1%, according to data compiled by Bloomberg — showing the cost of holding them is higher than the potential return from owning dollars. Latin American currencies have a carry of positive 3.7%, while European and African ones are positive 1.1%, the data show. 'In a risk-on environment, high carry trades typically do better,' said Gustavo Medeiros, head of research at Ashmore Group. 'So from that perspective, most likely the high carry Asian places like Indonesia, India, the large countries of course would do well, but LatAm is probably better positioned to benefit.' The Bloomberg Cumulative FX Carry Trade Index — which tracks the performance of eight EM currencies versus the dollar — has returned more than 10% this year. Some investors are paring risky bets to lock in those profits, saying Trump's tariffs may tank the economy and boost inflation in the US. A deluge of data due in coming days, including US inflation figures, as well as Russia-Ukraine talks, could bring fresh turmoil to global markets. For now though, carry trades appear to have more room to run. JPMorgan upgraded emerging-market currencies and local debt to overweight on Tuesday, citing the continuation of a weaker dollar trend after a month-long hiatus. 'If you're comfortable with the FX story — not necessarily that FX will continue to rally, but that we're not about to see an episode of resurgence of the dollar — then these trades look pretty compelling,' said Neuberger's Urquieta. What to Watch Thailand's central bank is expected to cut rates to support growth. A rate decision is also due in Peru China will release as swath of data including retail sales, and growth readings in Singapore, Malaysia and Taiwan are also due, which will help assess how Asia is weathering US trade policy Inflation readings in Brazil, Argentina and India will be in focus as traders gauge whether central banks will maintain a cautious stance amid Trump's tariff onslaught Growth data in Poland and Bulgaria may provide an insight into any spillover effects from European fiscal spending. An inflation reading in Poland is also due The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. 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Yahoo
10-08-2025
- Business
- Yahoo
Carry Traders Ramp Up Bets in Emerging Markets as Fed Cuts Loom
(Bloomberg) -- Carry trade is making a comeback among emerging market investors as bets the Federal Reserve's will kick off interest-rate cuts next month weaken the dollar and fuel appetite for high-yielding currencies. New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms Money managers from Neuberger Berman Group LLC to Aberdeen Group Plc. are piling into currencies from Brazil, South Africa and Egypt, saying a weaker greenback and easing volatility make the environment ripe for the strategy, in which traders borrow in lower-yielding currencies to buy those that offer higher yields. The trade, which posted double-digit returns this year before hitting pause in July as the dollar rebounded, is now gaining steam again after a dismal US jobs report fueled bets policymakers will have to lower borrowing costs next month to avoid a recession. DoubleLine to UBS are among those who have joined a chorus of greenback bears in recent days, saying the dollar negative story is 'back in play.' 'The risk that the dollar has a big resurgence is probably very limited and growth still behaving relatively okay,' said Gorky Urquieta, the co-head of emerging market debt at Neuberger Berman, who favors carry trades in South Africa, Turkey, Brazil, Colombia, Indonesia and South Korea. Donald Trump's erratic policies have left traders scrambling to diversify their holdings, sending the US Dollar Index to its worst first half of the year since the 1970s. The shift, which comes after a decade of US outperformance, has pulled in cash to emerging market assets following three years of outflows. Global funds dedicated to developing-world debt have seen inflows every week for the past four months, with investors pouring in $1.7 billion in the week ended Aug. 6, according to a Bank of America Corp. note citing data from EPFR. An index of local bonds has returned more than 12% as 18 out of 23 main EM currencies have gained against the dollar this year. The appetite is such that the gap between gauges measuring expected volatility in emerging currencies versus their Group-of-10 peers over the next month is hovering around the highest in 12 years, signaling far less turbulence ahead for the developing world. Higher-for-longer The recent hawkish stance from some central bankers in emerging markets amid inflation and tariff concerns has further added to the appeal of carry trades. Over the past two weeks, Colombian policymakers surprised markets by holding borrowing costs at 9.25%; India also kept rates unchanged, opting for a wait-and-watch approach; in Brazil, which boasts some of the highest interest rates in the world at 15%, policymakers said they'll keep a cautious stance after Trump slapped the nation with a 50% trade levy. 'Carry is an important part of the story,' said Kieran Curtis, the head of emerging-market local currency debt at Aberdeen. 'The Brazilian real long is one of our favorite positions — and it's really driven by the yield.' Leveraged funds ramped up bullish bets on the Mexican peso to the highest in almost a year in the week ended Aug. 5, according to the latest data from the Commodity Futures Trade Commission. That covers the days following Mexico's central bank decision to slow the pace of monetary easing. Lower volatility in global markets, meanwhile, leaves the low-yielding Asian currencies adrift, according to firms from McKay Shields to BNP Paribas. Asian FX has an average carry of minus 1.1%, according to data compiled by Bloomberg — showing the cost of holding them is higher than the potential return from owning dollars. Latin American currencies have a carry of positive 3.7%, while European and African ones are positive 1.1%, the data show. 'In a risk-on environment, high carry trades typically do better,' said Gustavo Medeiros, head of research at Ashmore Group. 'So from that perspective, most likely the high carry Asian places like Indonesia, India, the large countries of course would do well, but LatAm is probably better positioned to benefit.' The Bloomberg Cumulative FX Carry Trade Index — which tracks the performance of eight EM currencies versus the dollar — has returned more than 10% this year. Some investors are paring risky bets to lock in those profits, saying Trump's tariffs may tank the economy and boost inflation in the US. A deluge of data due in coming days, including US inflation figures, as well as Russia-Ukraine talks, could bring fresh turmoil to global markets. For now though, carry trades appear to have more room to run. JPMorgan upgraded emerging-market currencies and local debt to overweight on Tuesday, citing the continuation of a weaker dollar trend after a month-long hiatus. 'If you're comfortable with the FX story — not necessarily that FX will continue to rally, but that we're not about to see an episode of resurgence of the dollar — then these trades look pretty compelling,' said Neuberger's Urquieta. What to Watch Thailand's central bank is expected to cut rates to support growth. A rate decision is also due in Peru China will release as swath of data including retail sales, and growth readings in Singapore, Malaysia and Taiwan are also due, which will help assess how Asia is weathering US trade policy Inflation readings in Brazil, Argentina and India will be in focus as traders gauge whether central banks will maintain a cautious stance amid Trump's tariff onslaught Growth data in Poland and Bulgaria may provide an insight into any spillover effects from European fiscal spending. An inflation reading in Poland is also due The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO The Game Starts at 8. The Robbery Starts at 8:01 It's Only a Matter of Time Until Americans Pay for Trump's Tariffs ©2025 Bloomberg L.P. 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Bloomberg
10-08-2025
- Business
- Bloomberg
Carry Traders Ramp Up Bets in Emerging Markets as Fed Cuts Loom
Carry trade is making a comeback among emerging market investors as bets the Federal Reserve's will kick off interest-rate cuts next month weaken the dollar and fuel appetite for high-yielding currencies. Money managers from Neuberger Berman Group LLC to Aberdeen Group Plc. are piling into currencies from Brazil, South Africa and Egypt, saying a weaker greenback and easing volatility make the environment ripe for the strategy, in which traders borrow in lower-yielding currencies to buy those that offer higher yields.
Reuters
30-07-2025
- Business
- Reuters
UK fund manager Aberdeen reports outflows in first-half results
LONDON, July 30 (Reuters) - British money manager Aberdeen Group (ABDN.L), opens new tab reported 900 million pounds ($1.2 billion) of outflows in first-half results on Wednesday, but the figure beat more bearish analyst forecasts as its consumer platform interactive investor saw a strong performance. Analysts had predicted 1.5 billion pounds of outflows for the period according to an average of analyst forecasts compiled by the company, which posted 800 million pounds of net inflows for the same period the prior year. The fund manager said assets under management were 517.6 billion pounds, slightly ahead of forecasts and up from 500.1 billion pounds at the end of March. The company reported an adjusted operating profit of 125 million pounds, beating forecasts but down 2% on the prior year. It said it would pay an unchanged interim dividend of 7.3 pence per share. ($1 = 0.7495 pounds)
Yahoo
14-07-2025
- Business
- Yahoo
NiCE Actimize X-Sight AML Solutions Selected by Aberdeen Group to Enhance Its Financial Crime Operations
NiCE Actimize's embedded AI provides intelligence to optimize detection and improve AML program efficiency HOBOKEN, N.J., July 14, 2025--(BUSINESS WIRE)--NiCE Actimize, a NiCE (NASDAQ: NICE) business, today announced that Aberdeen Group, a UK-based global investment management firm headquartered in Edinburgh, has selected NiCE Actimize's X-Sight Suspicious Activity Monitoring (SAM) and Watch List Screening solutions as part of its financial crime operations. These are part of NiCE Actimize's advanced portfolio of anti-money laundering (AML) solutions which address financial services institutions' (FIs) most pressing challenges. Harnessing the power of advanced analytics to detect suspicious activity with pinpoint accuracy, NiCE Actimize's SAM employs sophisticated machine learning and graph-based analytics to uncover patterns of illicit behaviors and suspicious transactions. NiCE Actimize's proven AI-powered screening solution, WL-X, provides advanced matching techniques, predictive analytics and seamless access to extensive global lists and data sources for party and real-time transaction screening. WL-X provides the power to identify high-risk customers and counterparties quickly and with precision. This approach has enabled Aberdeen Group to better support client and customer outcomes through deployment of next generation analytics and enhanced case management, according to Aberdeen. Notes Craig Costigan, CEO, NiCE Actimize, "Our industry-leading anti-money laundering portfolio provides a comprehensive view of potential risks. Not only does its multi-tiered approach enhance the ability to catch suspicious activity early, but it also ensures comprehensive protection against evolving financial crime threats. We look forward to continuing to work with Aberdeen to enhance the effectiveness of its financial crime prevention." For more information: NiCE Actimize Suspicious Activity Monitoring solution, please click here. NiCE Actimize Watch List Screening solution, or to request a demo, please click here. Aberdeen Group PlcAt Aberdeen, our ambition is to be the UK's leading Wealth & Investments group. We are focused on growing our direct and advised wealth platforms and repositioning our specialist asset management business to meet client demand. We are committed to providing excellent client service, supported by leading technology and talent. As of 31 March 2025, we managed and administered £500.1bn of our clients' assets. About NiCE ActimizeAs a global leader in artificial intelligence, platform services, and cloud solutions, NiCE Actimize excels in preventing fraud, detecting financial crime, and supporting regulatory compliance. Over 1,000 organizations across more than 70 countries trust NiCE Actimize to protect their institutions and safeguard assets throughout the entire customer lifecycle. With NiCE Actimize, customers gain deeper insights and mitigate risks. Learn more at About NiCENiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking StatementsThis press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the "Company"). In some cases, such forward-looking statements can be identified by terms such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," "estimate," or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in general economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law. View source version on Contacts Corporate Media Contact Cindy Morgan-Olson, +1 646 408 5896, media@ ET Investors Marty Cohen, +1 551 256 5354, ir@ ETOmri Arens, +972 3 763 0127, ir@ CET Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
