Funds: OANDA forex platform, Vanguard UK index fund of funds, Castlestone precious metals Ucits

Forex trading platform opens in Europe, Vanguard UK launches fund of index fund range, Castlestone unveils first precious metal Ucits fund

OANDA Corporation

Foreign exchange platform provider OANDA has launched a subsidiary in Europe, operating from a London base.

In an effort to cater for currency traders in the UK and continental Europe, OANDA Europe Limited will offer the ability to trade under rules tailored to individual jurisdictions.

The platform promises to give traders ultra-tight spreads, quality execution, and consistent liquidity, according to the firm.

At its helm is Anthony Broadbent (pictured), who has previously worked for Alliance Bernstein, Capital One, and management consultancy McKinsey & Company.

Commenting on the forex firm’s London launch, Broadbent said: “London is the centre of the global forex market. It makes perfect sense for OANDA to have a base here – it’s the ideal location from which to serve our clients all across continental Europe.”

OANDA also has offices in New York, Singapore, Toronto and Dubai.

Vanguard

Marking its two years in the UK, European asset manager Vanguard has launched the LifeStrategy range, a suite of five fund of index funds with low annual management charges.

The funds are constructed using a pre-set broadly diversified asset allocation with automatic rebalancing to ensure they stay in line with investors’ objectives, the group said.

The products are a targeted mix of global equities and UK bonds ranging from 20% to 100% equity and built using existing Vanguard index funds.

Annual charges range from 0.29% to 0.33%. Total expense ratios will be broadly similar, as expenses incurred will be paid out of the AMC rather than funds’ assets, the firm added.