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JBWere has launched two new active fixed income funds, the UBS JBWere Australian Credit Fund and the UBS JBWere International Credit Fund, in partnership with UBS Asset Management, aimed at wholesale clients. These funds, available from December, are designed to enhance defensive strategies within multi-asset portfolios, responding to a growing demand for managed fixed income solutions. With a focus on stability and growth, the collaboration promises competitive management fees and leverages UBS AM's expertise to deliver tailored investment strategies.
JBWere has launched two new active fixed income funds, the UBS JBWere Australian Credit Fund and the UBS JBWere International Credit Fund, in partnership with UBS Asset Management, aimed at wholesale clients. These funds, available from December, provide a defensive layer for multi-asset portfolios, responding to a growing demand for managed fixed income solutions amid easing inflation and favorable market conditions. UBS AM will oversee the investment management, ensuring high-quality strategies tailored to client needs.
Ethereum has seen a remarkable $1 billion in inflows over the past week, extending its streak to seven weeks and totaling $3.7 billion. Overall, digital asset investment products experienced $3.2 billion in inflows last week, marking the 10th consecutive week of positive momentum, with total inflows for the year reaching $44.5 billion.XRP also gained traction with $145 million in inflows, driven by optimism for a US-listed ETF and the upcoming launch of Ripple's stablecoin. The US led regional inflows with $3.14 billion, while multi-asset products faced $31 million in outflows.
Crypto investment products experienced a remarkable $3.23 billion in inflows last week, marking the 10th consecutive week of positive growth, with Bitcoin leading at $2 billion. Ethereum and XRP also saw significant interest, attracting $1.09 billion and $145 million, respectively, amid anticipation for U.S.-listed ETFs. The total year-to-date inflows have reached $44.5 billion, with the U.S. contributing $3.13 billion, primarily into Bitcoin-linked ETFs.
In the latest trading update, a long trade on the Australian dollar against the US dollar faced challenges, nearing a stop loss but ultimately closing with a loss. Despite some negative trades earlier in the year, the overall performance for "Trade of the Week" concluded with a 31.45% return on investment, achieving 21 winning trades against 20 losses while risking only 2% of capital per trade.
IG
A 24-year-old woman, Catherine Colivas, kidnapped a Saudi royal and extorted $40,000 in Bitcoin, threatening him with violence. Despite pleading guilty to multiple charges, she received a community corrections order instead of jail time, with the judge citing her youth and personal circumstances as mitigating factors. Another accomplice, Paris Kennedy, was sentenced to time served for lesser charges.
Australia's government is set to develop a National AI Capability Plan aimed at enhancing the country's artificial intelligence industry by upskilling the workforce, attracting investment, and fostering innovation. Minister Ed Husic emphasized the need to strengthen the AI ecosystem and secure supply chains, while the review will assess current support mechanisms and promote AI literacy. However, industry leaders like Simon Bush argue that the proposed timeline until late 2025 is too slow for a rapidly evolving sector, advocating for a quicker review process.
AUD/USD ended last week at 0.6362, down 0.42%, near one-year lows, influenced by the RBA's dovish pivot and strong domestic jobs data. The pair's decline accelerated after the RBA indicated confidence in declining inflation, raising the likelihood of a February interest rate cut to 65%. As the US dollar strengthened due to positive CPI and PPI readings, AUD/USD's volatility continued, with a critical support zone at 0.6370-0.6335. Holding above this level could lead to a bounce towards 0.6450-0.6470, while a drop below may test lower levels.
IG
Ingham's stock price is experiencing volatility due to fluctuating costs and a recent CEO transition, impacting profit margins. While the food industry offers stability and consistent dividends, new competitors and changing consumer preferences pose challenges. Effective risk management is essential for traders in agricultural stocks, which are vulnerable to weather, supply chain issues, and input cost fluctuations.
IG
A man in Scottsdale, Arizona, has been arrested for allegedly posing as an Uber driver to steal $300,000 in cryptocurrency from two passengers. Nuruhussein Hussein reportedly lured victims by using their names and then accessed their Coinbase accounts after borrowing their phones. He faces charges of theft, fraud, and money laundering, with a judge imposing a $200,000 bond and electronic monitoring if released.
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