Monday, 23 November 2015

Source ETF stuff

Right, I've got a migraine, so I can't be bothered to go looking for news. Let the bloody news come to me! That's what I say. 'Boss, you've got an email!' Yes, Voice, I know I have. A lovely PR email about Source and its ETF stuff. 'Yippee!' That's half the job done!

Let's see, er ...

Source, one of the largest providers of Exchange Traded Funds (ETFs) in Europe, is appointing Legal & General Investment Management ("LGIM") as the investment manager for a new physical fund platform, Source Markets II Plc. LGIM is one of the largest providers of index funds in Europe (£264 billion) and a major global investor with total assets under management of £717 billion. Source is also appointing Northern Trust, Source's current service provider, as the administrator and custodian for the new platform. These appointments are subject to regulatory approval.

Okay. You will(!!!) have noticed, dear reader(s), that it's going to be a PHYSICAL fund platform, not an astral fund platform. 'Is that a good thing, boss?' Well, yes, it is, because as you know, my little invisible friend, I have banned all financial activity on the astral plane. So ... 'At least someone is listening to you for a change.' Exactly! Instead of making up their own stupid rules of what's acceptable and what ain't.

The new platform will expand Source's capacity to launch a wider range of physically replicated products, adding to its current range of 15 physical products, including fixed income ETFs, precious metal ETPs and a China A-shares equity ETF. The launch of this platform will be complementary to the existing range of ETPs. Source emphasises that it has no plans to convert any of its existing exchange traded products from its multi-counterparty swap model. Indeed, the firm continues to see strong investor demand for ETFs that use this next generation platform to reduce tracking error.

Indeed! Oh ... 'You really hate that word, don't you, boss?' Voice, I loathe it! Absolutely loathe it. / Ah, that's enough, man! I've lost all interest.


Anything else? Well, I've got the Saturday Night Fever Original Soundtrack on again. I'm hoping it will cheer me up a bit. Christ! My head, the cold, the last song for my demo, other problems ... I need cheering up! 'Why don't you put the film on, Mikey?' I might later.