Notas estructuradas

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Yale university endowment announced their returns for the fiscal year ended June 30. The fund returned 28% compared to 20.7% return for the S&P 500 Index.. This makes them the top performer in their class over the past two decades. Yale has demonstrated that asset class diversification works extremely well and has allocated 28% of the fund to Real Assets (Commodities, Timber, Property, etc.). Large US University endowment funds have been allocating more assets to alternative and commodity assets as a means of diversification and return enhancement. We were at a Wharton leadership conference last spring where the University of Pennsylvania head of endowments broke down how Penn was invested. 22% domestic stocks, 28% foreign stocks, and approximately 30% alternative investments..



This all fits in with our strategy of structured notes. In this environment structured notes that focus on commodities and currencies make the most sense. With commodities up over 9.5% this month alone, we think a structured note that strategically identifies the most active commodities coupled with a principal guarantee are the most attractive. According to the World Gold Council in India, the January to August imports of gold were up over 87% more than 1 year ago. International accounts are diversifying into commodities and non dollar assets at a record pace. Secondly, the US Dollar will continue to weaken. When we put our strategy piece out last week after the fed ease, we said the Dollar would decline as it has. We think the Dollar will continue to weaken versus the BRIIC countries (Brazil, Russia, India, Indonesia and China). Here again a strategy that couples these currencies with a principal guarantee make sense.



Accounts worldwide are using structured notes strategically to benefit from these trends. We can work with your clients to fit their specific outlooks… The trend is in place, it is now time to make money.

Recesión en USA

National Western

Le damos la bienvenida a National Western a nuestro portafolio de productos. En el siguiente link pueden descargar información de la Cia. y sus productos.

Recesión en USA para el 2008

De acuerdo a los especuladores, la probabilidad que se de una recesión en USA en el 2008, se a ido incrementado en el transcurso del año. Esta ultima reducción de tasas, que algunos piensan que fue muy agresiva, permite pensar que aún no esta al descubierto toda la versión de cual es la situación real de la economía.

Aetna adquiere a Goodhealth

Interesante adquisición. Aetna es uno de los grupos aseguradores (de seguros médicos) más prestigiosos de USA. Esta adquisición la posiciona para poder explotar el mercado internacional. Buenas noticias para el mercado. Puede descargar aqui el comunicado.

Asset Allocation

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Summary: The Super Endowment funds of Harvard and Yale have consistently achieved high investment returns and low volatility due to their multi-asset approach to investing and exposure to alternative asset classes. While most investors cannot invest like the Super Endowment funds, this research note shows that by applying their multi-asset principles to an index based portfolio, returns have historically been superior to those of traditional portfolios and even the average top rated managed funds. Frontier takes inspiration from Super Endowment funds when determining our asset allocations. The current asset weighting of Frontier’s three funds (Conservative, Moderate, and Plus) is designed to contain slightly less risk than the Super Endowments allocations, as the Super Endowments have a longer investment horizon and lower liquidity requirements (See Appendix B for Frontier’s current asset weighting). Our small minimum investment requirements and high levels of liquidity means that it is possible for even smaller investors to adopt a multi-asset approach to portfolio management just like the Super Endowments. Should you wish to obtain any further information on index investing or to learn about the range of Frontier’s products please visit our website at www.FrontierCM.com or contact Michael Azlen at Azlen@FrontierCM.com

Risk Profile Questionnarie

Descargar Interesante herramienta para conocer el perfil de sus clientes en cuanto a su tolerancia al riesgo.