BCFS brings together a multi-disciplinary team with depth and breadth of experience in structuring, trading, investment management, accounting and regulatory and legal requirements. We have global reach through our investment professionals based in London, New York, Tokyo, Singapore and Sydney.
Our investment philosophy is to continuously improve upon established ideas and flexibly adapt to changing market dynamics. We have integrated our business and infrastructure platforms to enable a cross-border approach that is unique in investment management. The team focuses on four distinct yet harmonised functions:
Fund Structuring works with clients to define, develop and execute customised solutions
Fund Management is responsible for the asset and risk management of each fund in accordance with its objectives, investment policies and regulatory guidelines
Portfolio Engineering creates investment strategies and methodologies in accordance with our investment philosophy, with a focus on asset class neutral models and performance consistency
Trading manages the re-balancing, risk exposure and execution of portfolios in a way that enhances alpha generation and reduces transaction impact on the strategy returns
Sunday, June 7, 2009
Key Attributes
Since launch of the first fund in January 2006, BCFS has:
Attracted leading investors, establishing a significant fund business and market leadership in applied investment innovation
Established a diverse client base from insurance companies, asset managers and corporate treasuries to family offices and private banking investors
Provided exposure to multiple asset classes including equities, commodities, interest rates, foreign exchange, fixed income, emerging markets, hedge funds and property
Grown assets under management to more than USD 6bn* in structured and quantitative strategies and manages more than 70 funds
Built a global footprint with funds distributed throughout South America, Europe and Asia Pacific
Increased its strong front- to back-office team to 70
*as of 30 June 2008
Attracted leading investors, establishing a significant fund business and market leadership in applied investment innovation
Established a diverse client base from insurance companies, asset managers and corporate treasuries to family offices and private banking investors
Provided exposure to multiple asset classes including equities, commodities, interest rates, foreign exchange, fixed income, emerging markets, hedge funds and property
Grown assets under management to more than USD 6bn* in structured and quantitative strategies and manages more than 70 funds
Built a global footprint with funds distributed throughout South America, Europe and Asia Pacific
Increased its strong front- to back-office team to 70
*as of 30 June 2008
Fund Solutions
Fund Solutions
Barclays Capital Fund Solutions (BCFS) is the investment management business of Barclays Capital, the investment banking division of Barclays Bank PLC.
The emergence of new asset classes, growth in demand for derivative solutions and an investor shift towards absolute returns have identified a strong necessity for an alternative fund management approach that:
Offers clients greater customisation of investment management products
Uses state-of-the art financial thinking but is adaptive to changes in the investment environment
Delivers multi-asset class performance, with the flexibility to access new asset classes as they emerge
Considers the complexities of multi-jurisdictional investors and asset bases to deliver pragmatic financial solutions
The BCFS business model and approach focus on this evolving market segment. BCFS combines its multi–jurisdictional fund expertise with world-class structuring, derivatives trading and asset allocation expertise to deliver applied investment innovation in fund management across all asset classes. The BCFS team is advised by Barclays Capital’s award-winning research team.
Barclays Capital Fund Solutions (BCFS) is the investment management business of Barclays Capital, the investment banking division of Barclays Bank PLC.
The emergence of new asset classes, growth in demand for derivative solutions and an investor shift towards absolute returns have identified a strong necessity for an alternative fund management approach that:
Offers clients greater customisation of investment management products
Uses state-of-the art financial thinking but is adaptive to changes in the investment environment
Delivers multi-asset class performance, with the flexibility to access new asset classes as they emerge
Considers the complexities of multi-jurisdictional investors and asset bases to deliver pragmatic financial solutions
The BCFS business model and approach focus on this evolving market segment. BCFS combines its multi–jurisdictional fund expertise with world-class structuring, derivatives trading and asset allocation expertise to deliver applied investment innovation in fund management across all asset classes. The BCFS team is advised by Barclays Capital’s award-winning research team.
Wednesday, June 3, 2009
Foreign Exchange Trader III
Responsible for the timely buying and selling of foreign currencies. Recommends competitive foreign exchange rates based on market performance. Reviews orders to ensure accuracy, proper record keeping, and conformance to regulations. Carries out trades and maintains the organization's accounts. Requires a bachelor's degree in area of specialty and at least 5 years of experience in the field or in a related area, and may require state license. Familiar with a variety of the field's concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Performs a variety of tasks. May lead and direct the work of others. A wide degree of creativity and latitude is expected.
Currency Trading Between Banks
Banks are a major force in the FX market and employ a large number of traders. Trading between banks is done in two ways—through a broker or directly with each other.
Brokers: If a U.S. bank trades with another bank, a FX broker may be used as an intermediary. The broker arranges the transaction, matching the buyer and seller without ever taking a position and charges a commission to both the buyer and seller. About a third of transactions are arranged in this way.
Direct: Mostly banks deal with each other directly. A trader "makes a market" for another by quoting a two-way price i.e. he is willing to buy or sell the currency. The difference between the two price quotes (the spread) is usually no more than 10 pips, or hundredths, of a currency unit.
Most currencies are quoted in terms of how many units of that currency would equal $1. However, the British pound, New Zealand dollar, Australian dollar, Irish punt and the Euro are quoted in terms of how many U.S. dollars would equal one unit of those currencies.
The currencies of the world’s large, industrialized economies, or hard currencies, are always in demand and are actively traded. In terms of trading volumes, the FX market is dominated by four currencies: the U.S. dollar, the euro, the Japanese yen and the British pound. Together these account for over 80 percent of the market.
It is not always easy to find a market for all currencies. The demand for currencies of less developed countries, soft currencies, is a lot less than for the hard currencies. Weak demand internationally along with exchange controls may make these currencies difficult to convert.
Brokers: If a U.S. bank trades with another bank, a FX broker may be used as an intermediary. The broker arranges the transaction, matching the buyer and seller without ever taking a position and charges a commission to both the buyer and seller. About a third of transactions are arranged in this way.
Direct: Mostly banks deal with each other directly. A trader "makes a market" for another by quoting a two-way price i.e. he is willing to buy or sell the currency. The difference between the two price quotes (the spread) is usually no more than 10 pips, or hundredths, of a currency unit.
Most currencies are quoted in terms of how many units of that currency would equal $1. However, the British pound, New Zealand dollar, Australian dollar, Irish punt and the Euro are quoted in terms of how many U.S. dollars would equal one unit of those currencies.
The currencies of the world’s large, industrialized economies, or hard currencies, are always in demand and are actively traded. In terms of trading volumes, the FX market is dominated by four currencies: the U.S. dollar, the euro, the Japanese yen and the British pound. Together these account for over 80 percent of the market.
It is not always easy to find a market for all currencies. The demand for currencies of less developed countries, soft currencies, is a lot less than for the hard currencies. Weak demand internationally along with exchange controls may make these currencies difficult to convert.
Sources for currency demand on the FX market
The currency of a growing economy with relative price stability and a wide variety of competitive goods and services will be more in demand than that of a country in political turmoil, with high inflation and few marketable exports.
Money will flow to wherever it can get the highest return with the least risk. If a nation’s financial instruments, such as stocks and bonds, offer relatively high rates of return at relatively low risk, foreigners will demand its currency to invest in them.
FX traders speculate within the market about how different events will move the exchange rates. For example:
News of political instability in other countries drives up demand for U.S. dollars as investors are looking for a "safe haven" for their money.
A country’s interest rates rise and its currency appreciates as foreign investors seek higher returns than they can get in their own countries.
Developing nations undertaking successful economic reforms may experience currency appreciation as foreign investors seek new opportunities.
Money will flow to wherever it can get the highest return with the least risk. If a nation’s financial instruments, such as stocks and bonds, offer relatively high rates of return at relatively low risk, foreigners will demand its currency to invest in them.
FX traders speculate within the market about how different events will move the exchange rates. For example:
News of political instability in other countries drives up demand for U.S. dollars as investors are looking for a "safe haven" for their money.
A country’s interest rates rise and its currency appreciates as foreign investors seek higher returns than they can get in their own countries.
Developing nations undertaking successful economic reforms may experience currency appreciation as foreign investors seek new opportunities.
Determination of Foreign Exchange Rates
Exchange rates respond directly to all sorts of events, both tangible and psychological—
Business cycles;
Balance of payment statistics;
Political developments;
New tax laws;
Stock market news;
Inflationary expectations;
International investment patterns;
And government and central bank policies among others.
At the heart of this complex market are the same forces of demand and supply that determine the prices of goods and services in any free market. If at any given rate, the demand for a currency is greater than its supply, its price will rise. If supply exceeds demand, the price will fall.
The supply of a nation’s currency is influenced by that nation’s monetary authority, (usually its central bank), consistent with the amount of spending taking place in the economy. Government and central banks closely monitor economic activity to keep money supply at a level appropriate to achieve their economic goals
Business cycles;
Balance of payment statistics;
Political developments;
New tax laws;
Stock market news;
Inflationary expectations;
International investment patterns;
And government and central bank policies among others.
At the heart of this complex market are the same forces of demand and supply that determine the prices of goods and services in any free market. If at any given rate, the demand for a currency is greater than its supply, its price will rise. If supply exceeds demand, the price will fall.
The supply of a nation’s currency is influenced by that nation’s monetary authority, (usually its central bank), consistent with the amount of spending taking place in the economy. Government and central banks closely monitor economic activity to keep money supply at a level appropriate to achieve their economic goals
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