​Weekly: Assenagon Launches Fund; San Bernardino On EM Strategy

So much for that Santa Rally. The VIX shot up today over that psychological 20 level, while the S&P 500 fell about 2%. The move was largely blamed on news of an USD800 million junk bond fund that was preventing withdrawals, which unnerved investors ahead of next week’s Fed meeting. This was also coupled with further declines in oil prices. Also this week, we talk to San Bernardino County Employees’ Retirement Association on its strategy of selling volatility in certain emerging markets, particularly Brazil and Russia. The later has paid out, but Brazil is dragging on the strategy. Meanwhile, Assenagon Asset Management has launched the Assenagon Multi Asset Capital Preservation (Wertsicherung) fund that aims to provide attractive long-term returns in the current low interest rate environment. The fund, which will have a diversified portfolio across a wide range of investment areas and asset classes, will also use derivatives as part of its investment strategy. Don’t forget, our Winter 2015/2016 quarterly is now live and ready to read.