Diapositiva 1 - Auriga Global Investors

Cuesta del Sagrado Corazón 6-8 ,28016 Madrid
Telf.: 913 244 200 - Fax: 913 244 204
1
AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INDEX
Philosophy
4
Fixed-Income
8
History
5
Equity
9
Auriga EEUU
11
ClickTrade
13
AurigaBonos
14
Our Investment Funds
15
Our SICAVs
16
Wealth Management
17
Hedging Advisory Services
18
Funding Optimization
20
Our Offices
21
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
AURIGA GLOBAL INVESTORS
Solutions with value
Philosophy
History
3
AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
Philosophy
Auriga Global Investors was founded in 2007 with a
strong commitment to meet the financial and investment
needs of our clients, partners and shareholders.
Our main goal has always been the pursuit of excellence
through the best professionals in each business line.
Fixed-income and equity teams were the first to join the
company, and are the foundation on which we are
building our business. The challenging environment of
the financial crisis encouraged us to establish Auriga USA.
Since our launch, we have built trust based on the
following principles:
-Independence: It allows us flexibility in a constantly
changing environment.
-Closeness to our clients, partners and shareholders. It is
our highest priority; we build long-term relationships on a
day-to-day basis.
-Experience: It is reflected in each of our professionals.
Since our inception, we have also made a
firm commitment to retail business, both in fixed–come,
with Auriga Bonos, and in equity, with Click Trade.
-Solvency. It is our calling card to the financial institutions
with which we work.
Our perseverance and long-term commitment to projects
and people have led us to emerge from the crisis in a
stronger position.
-Growth, through the constant pursuit of new business
lines that meet the financial needs of our clients, partners
and shareholders.
-Recognition for each of our employees. We strongly
believe that recognition by the company is a reflection of
their work.
Today, we are in the best possible position to continue
building a great financial services company.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
2007
HISTORY
2008
2009
Ambition Confidence Work
•FixedIncome
2010
2011
Growth
Consolidation Renewal
• Equity
2012
•Hedging
Advisory
Services
• Auriga EEUU
•ClickTrade
2013
• AurigaBonos
2014
Innovation
• Funding
Optimization
Expansion
• Wealt Management
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
HISTORY
Auriga is one of the leading companies
in the fixed-income and equity
markets in Spain.
Our independence and objectivity have allowed our
company to obtain excellent results in an adverse
economic and financial environment.
Auriga is a member of the following markets and
organizations:
Auriga Global Investors SV, S.A.
We provide comprehensive wealth management services
adapted to our clients’, as well as customized solutions to
their needs.
Auriga has a multidisciplinary team with proven
professional experience in wealth management and
investment services, and is present in all major financial
markets worldwide. The company has offices in Madrid,
Barcelona, New York, Chicago, San Francisco, Santa
Monica and Westlake Village.
Madrid, Barcelona and Valencia stock exchanges
Eurex (German derivatives market)
AIAF (Fixed-income market)
MAB (Alternative stock market)
Latibex (Latin American Securities Market)
Iberclear (Clearing & Settlement)
Auriga USA LLC
Broker-dealer member of the NASDAQ market
(authorized by the SEC)
FINRA (Financial Industry Regulatory Authority)
Auriga Investors SICAV was incorporated on October 20,
2009 in Luxembourg. It was registered by the CSSF, which
supervises different funds.
Auriga’s partners are proactively involved in the
development and growth of the company. The employees
hold part of the shareholding of the company. Auriga
Global Investors stands out for its high level of
specialization and proven professionalism. The company
has opened new business lines in order to meet all the
financial needs of its clients.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INSTITUCIONAL CLIENTS
Fixed-Income
Equity
Auriga EEUU
PRIVATE CLIENTS
ClickTrade
AurigaBonos
ASSET MANAGEMENT
WEALTH MANAGEMENT
CORPORATE SOLUTIONS
Our Mutual Funds
Hedging Advisory Services
Our SICAVs
Funding Optimization
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INSTITUTIONAL CLIENTS
Fixed-Income
Auriga Global Investors’ fixed-income desk
has established itself as one of the leading
fixed-income teams in Spain and Europe.
Our aim is to provide the best service to the main Spanish
and European financial institutions in the trading of fixedincome securities.
The trading volume of the desk has been growing
annually to such a level that it is currently one of the
leaders in the sector.
A large team staffed by professionals of different
nationalities allows us to provide services to clients across
Europe. Their combined knowledge, experience and
professionalism enable us to trade a very extensive range
of assets, including corporate bonds, public debt,
securitizations, mortgage-backed securities, senior and
subordinated financial bonds, etc.
Our proprietary portfolio is one of the key elements in
achieving our objectives. Our traders manage this
portfolio day-to-day to extract the highest possible
profitability within well-defined risk parameters. The
management of this portfolio is also an indispensable tool
to provide our clients with immediate liquidity.
During the last financial crisis, marked by volatility, Auriga
has become a benchmark for providing a way out to
securities whose liquidity was almost nil. We believe that
our clients value the effort which we have always made in
order to be faithful to that commitment to provide
liquidity at all times.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INSTITUTIONAL CLIENTS
Equity
At the forefront of innovation to provide
our customers with professional solutions.
Auriga Global Investors is a member of the Madrid,
Barcelona and Valencia stock exchanges and provides
execution services to its resident and non-resident
institutional customers in the following markets:
Spain - BME
Germany - XETRA
France, Holland, Belgium and Portugal – EURONEXT
Italy – Borsa Italiana
Switzerland – SWX-VX
Finland, Norway, Sweden and Denmark – OMX
London – LSE
USA – NYSE y Nasdaq
1
Description of the service
----------------------------------------------------------------------------Auriga’s order execution services cover the entire
spectrum of needs our customers may have in a highly
demanding international environment, from the most
sophisticated IT system (DMA-Direct Market Access) to
the traditional telephone monitoring service.
Our team of highly qualified professionals is one of the
most innovative in the Spanish market and has more than
25 years’ experience in front office, middle office and
back office operations, as well as in the fields of
technology and regulatory requirements of the national
and international markets in which it operates.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INSTITUTIONAL CLIENTS
Equity
2.
Front Office
3
Middle & Back Office
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
Real-time monitoring of clients’ activity.
Types of front-office service:
Notification to customers of any rejection of orders and
exceptional circumstances that may affect the normal
operation of the business or trading activities.
1.Routing Service
Daily reporting to clients on financial markets events and
news:
Execution of orders in stock markets with direct
access to them (order-routing service). Auriga has
developed and implemented the most sophisticated
order-routing system in the Spanish Market: Auriga
nanoGAIN.
-Admission of securities
-Suspension of securities
-Financial transactions.
- Changes in ranges and ticks, etc.
Auriga nanoGain is a FIX-based order transmission
engine approved by the most important stock
exchanges in the world, including the Spanish stock
market.
The speed (latency) of nanoGain is measured in
microseconds and is the best on the Spanish market.
Auriga has its own internally-developed software
applications (ABOT – Auriga Back Office Tools), through
which it meets the most demanding reporting needs,
with the highest standards of regulatory compliance and
information transparency.
Reconciliation of files at market closing with a summary
of clients’ transactions.
Issue of any kind of report or confirmation adapted to
clients’ requirements to be sent by fax, via email, via FTP,
etc.
Daily monitoring of the clearing and settlement process
of trades.
Coordination of the process between the market, the
client and the clearing & settlement entity.
2. Care-Orders
Execution of orders in several stock exchanges in
which trades are conducted with the assistance of a
trader. Orders may be received and transmitted by
telephone, email, via Bloomberg, or by any other
means of communication generally accepted in the
markets.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INSTITUTIONAL CLIENTS
Auriga EEUU
Our team of professionals has extensive
experience in the market and delivers
services to more than 500 institutional
clients.
The company has offices in New York, Chicago, San
Francisco, Santa Monica and Weslake Village. Our
management team specializes in the following securities
and products:
• Structured Products
Residential Mortgage-Backed Securities (RMBS)
Traders managing this team have accumulated more than
fifteen years’ experience in the property sector. They also
have prior experience in portfolio management,
structuring, and management of risk.
The managers of the Structured Products team have
extensive and recognized experience in the structuring
and placement of products for an accumulated amount of
$100 billion.
Our main institutional clients include hedge funds,
insurance companies and banks.
The Structured Products Department also provides
services related to the analysis, cash-flow analysis, issue
and distribution of the following products.
Auriga USA has the capacity to issue, evaluate, distribute
and operate the following products guaranteed by
residential mortgage loans:
-Collateralized Debt Obligations (CDOs)
-Collateralized Loan Obligations (CLOs)
-Structuring of new debt securities issues.
-Trust Preferred Securities (TruPS)
-Operations in secondary markets (Agency/Non-Agency).
-Life insurance-linked securities
-Mortgage loan assets (Performing and Non-performing
residential whole loans).
-Catastrophe risk securitizations
-Advice services.
-Structured Bonds
-Transactions with large debt securities companies
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
INSTITUTIONAL CLIENTS
Auriga EEUU
Our team of professionals has extensive
experience in the market and delivers
services to more than 500 institutional
clients.
• Alternative assets
• Xzerta Energy Group
Auriga USA also invests in a wide range of alternative
assets:
-Term Asset-Backed Securities Loan Facility (TALF)
program.
XZERTA was created with a view to providing financial
services to customers from the renewable energy sector
for all the stages of their projects development: funding;
capital raising; direct capital investments; codevelopment of projects.
-Mezzanine financing on residential properties
Xzerta currently operates in the U.S. and the Caribbean.
-Low LTV Residential REO properties
Our core team of dedicated professionals has extensive
experience in power purchasing agreements, lease or
rental of plots and sites, and placement of debt securities.
-Commercial Real Estate
-Solar Renewable Energy Certificates
The company has an extensive network of clients in the
U.S. and Europe.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
PRIVATE CLIENTS
ClickTrade
The online broker to trade stocks, CFDs,
futures, forex and options.
Since our launch in 2007, ClickTrade’s efforts have been
focused on offering a high-quality service to our clients
guaranteed by the valuable experience in the sector
gained by our dynamic, professional and highly skilled
team.
Clients may access the stock and derivatives markets in
order to manage their portfolios with real-time
information and execution.
ClickTrade’s cutting-edge platform guarantees our clients
professional execution.
ClickTrade offers its clients the safety of trading with a
Spanish company with solid financial results, registered
with the CNMV and a member of the FOGAIN (the
Investors Compensation Scheme for clients of Spanish
investment firms).
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
PRIVATE CLIENTS
AurigaBonos
The most comprehensive service on the
Spanish fixed-income market for individual
investors, with transparency and liquidity.
Auriga Global Investors’ unique position as a leader in the fixed-income market, the latest innovations in financial
technology and the increasing demand for investment alternatives for individual clients have led us to create
www.aurigabonos.es, the first and only online trading platform with binding prices for more than 2,000 bonds.
The bonds: profitability and safety
Our service makes the difference
Bonds are marketable debt securities issued by
companies and governments that represent the loans
granted by investors to such entities. Fixed-income
securities entitle investors to receive fixed periodic
interest payments (coupons) and the return of all or part
of the capital invested at a given date.
Binding trading with transparency in online prices.
Automatic settlement of securities transactions.
Guaranteed liquidity for all the bonds.
Real-time monitoring of positions.
Issues listed on aurigabonos.es are the most liquid in the
world and their issuers are the most important
governments and companies in the global landscape.
Quotes from the main European fixed-income markets.
Depth-of-market window with up to 5 positions per bond.
Almost 2,000 fixed-income issues.
Continuous trading from 09:00 AM to 17:30 PM (CET).
Government debt securities and corporate bonds from
the most important companies in the world.
There are no hidden spreads or charges.
200 private issues and 30 governments issues.
Maturity terms from 3 months to 40 years.
Geographically and sectorally diversified issues.
Zero coupons, fixed coupons, variable coupons and stepup coupons.
Constant admission of new issues.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
ASSET MANAGEMENT
Our investment funds
Our aim is to provide our clients with the
investment funds that best suit their
investment profile.
AZ Total Return Fund
UCITS IV
Long/Short Equity
M2T Multi-Strategy Plus
UCITS IV
Multi-strategy
Belgravia Lynx
UCITS IV
Long Equity European
Montserrat Global Fund
UCITS IV
Long / Short US Biotechnology
Global Allocation FI
FI
Global Flexible Mixed
Rho Investments SIL
SIL
Global Macro
GFE Aequitas Fund
UCITS IV
Multi-strategy
S2A2 Trading Opportunities
SIF
Multi-strategy
M2T Multi-Strategy
UCITS IV
Multi-strategy
Vitrio Real Return
UCITS IV
Absolute Return
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
ASSET MANAGEMENT
Our SICAVs
Our aim is to provide our clients with the
investment funds that best suit their
investment profile.
Gesbolsa Inversiones
SICAV
Long Equity Global
Kirites de Inversiones
SICAV
Mixed Defensive Global
Valenciana de Valores
SICAV
Long Equity Global
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
WEALTH MANAGEMENT
Wealth Management
Access to a comprehensive wealth
management service.
The extensive experience of our Wealth Management
Solutions team, combined with our dedication to help
investors to attain their investment goals, are the
fundamentals that have led us to become a benchmark
company in the private banking sector.
Our working method is based mainly on the principles of
independence, discipline, diversification, and an informed
strategy. These principles, together with the most
advanced tools on the market, have led us to gain the
trust of our clients, building long-term success
relationships.
Our work is based on a strict, CUSTOMIZED investment
process that consists of the following stages:
---------------------------------------------------------------------1. Analysis of the situation of the client.
2. Parameters to define the investment mandate.
3. Determination of the investment mandate.
4. Execution and allocation of assets.
5. Results
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
CORPORATE SOLUTIONS
Hedging Advisory Services
Our team consists of professionals who
come from the trading departments of the
major national and international financial
institutions.
Our highly experienced team provides hedging advice on
clients’ specific operations or their overall risk,
encompassing all the problems related to risk
management. They specialize in interest-rate, currency
and commodity risk management for capital risk funds,
energy and property funds, and family offices.
Hedging advice is especially important in a context
marked by:
----------------------------------------------------------------------------A great diversity of financial risks.
----------------------------------------------------------------------------The increasing complexity of the financial products and
the risks associated with them.
Our advisory service is based on:
1
Risk assessment
---------------------------------------------------------------------Analysis of the debt structure and clients’ loans. In order
to evaluate the interest-rate risks of the client, different
scenarios of the evolution of the interest rate curve are
simulated.
---------------------------------------------------------------------Analysis of the international structure and the clients’
exchange rate risk.
---------------------------------------------------------------------Analysis of provisions and commodities risks.
----------------------------------------------------------------------------The growing internationalization of a high number of
clients.
----------------------------------------------------------------------------The contractual obligation in certain cases to hedge debt.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
CORPORATE SOLUTIONS
Hedging Advisory Services
2
3
4
Market and Product Advice
---------------------------------------------------------------------Analysis of market variables.
---------------------------------------------------------------------Monitoring of the market to facilitate decision-making
before it changes.
---------------------------------------------------------------------Analysis of its suitability to clients’ structure.
---------------------------------------------------------------------Development of customized solutions.
Advice on trading and hedge closing
---------------------------------------------------------------------Advice on the financial clauses of hedging contracts.
---------------------------------------------------------------------Identification of the best product to be taken out.
---------------------------------------------------------------------Assessment of the credit spread.
---------------------------------------------------------------------Valuation of the product.
---------------------------------------------------------------------Management of the closure.
---------------------------------------------------------------------Review and check of confirmations.
Monitoring and restructuring of Hedges
---------------------------------------------------------------------Market monitoring.
---------------------------------------------------------------------Ideas for optimizing hedging portfolios.
---------------------------------------------------------------------Evaluation of new risks which may affect the client.
---------------------------------------------------------------------Proposals for the restructuring of products.
---------------------------------------------------------------------Advice on the products after market closing.
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
CORPORATE SOLUTIONS
Funding Optimization
We provide access to public and private
funding through capital markets.
The optimization team, which consists of professionals
who come from major Spanish financial institutions,
specializes in the origination and syndication of fixedincome issues.
Auriga offers a wide range of financing solutions adapted
to the actual needs of companies. Our funding
optimization team develops active relationships with
clients/issuers and inventors to understand their
financing and investment needs. Their expertise and
knowledge of the financial industry, the products and the
economic environment, make the team the perfect
interface between clients/issuers and investors. This
team also cooperates with other departments in the
company in the search of alternative investors who
provide funding adapted to the credit profile of
clients/issuers.
2
Services and Products
Securitizations
1
Capital Markets
----------------------------------------------------------------------------Bond Origination
TAP
Convertible bonds
Structures: first loss, etc.
Private placements
Corporate Finance
----------------------------------------------------------------------------Loans origination
Underwritings
Financial advice
Advice: capital structures
Asset financing
Capital Increases
Valuation of companies
Mergers & Acquisitions
Corporate development
Promissory notes
Financial advice: Debt restructuring and refinancing.
Bonos: secured/unsecured, senior/ subordinated, bullet/
amortizing, fixed/ floating FRN, Zero-Coupon, at
discount, etc.
Project bonds
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
OUR OFFICES
CHICAGO
NEW YORK
MADRID
BARCELONA
SAN
FRANCISCO
WESTLAKE
VILLAGE
SANTA
MONICA
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
OUR OFFICES
CHICA
GO 6-8
Calle Cuesta del Sagrado Corazón,
Madrid
NEW YORK
New
York
Barcelona
Chicago
28016 Madrid
Tlf.: (+34) 91 324 42 00
Fax: (+34) 91 324 4204
546 5th Avenue
9th Floor
BOSTON
New York, NY 10036
Tlf.: (+001) 646-998-6400
Edificio de la Bolsa de Barcelona
Paseo de Gracia, 19
08007 Barcelona
Tlf.: (+34) 934-013-773
30 South Wacker Drive
22nd Floor
Chicago, IL 60606
Tlf.: (+001) 312-674-4981
San Francisco
Santa Monica
Westlake Village
50 California Street
Suite 1500
San Francisco, CA
Tlf.: (+001) 415-277-5954
2500 Broadway, Building F
Suite F-125
Santa Monica, CA 90404
Tlf.: (+001) 424-238-4384
2945 Townsgate Road,
Suite 200
Westlake Village, CA 91361
Tlf.: (+001) 805-719-2730
SAN
FRANCISCO
SANTA
MÓNICA
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AURIGA GLOBAL INVESTORS
SOCIEDAD DE VALORES, S.A.
Cuesta del Sagrado Corazón 6-8 - 28016 Madrid
Telf.: 913 244 200 - Fax: 913 244 204
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