Cash is King

Christopher Aldous, chief executive of Evercore Pan-Asset, tells Emma Oakman about ETF pricing anomalies in illiquid markets and his ideas for product innovation It has been a rough few months for investors. What impact have recent events had on ETFs and how you use them? The credit crunch has increased concern around counterparty risk. The principal culprits have been exchange traded commodities (ETCs), which have higher counterparty exposure. A number of products were briefly suspended and guarantees were only fully put in place at the end of October. Things have calmed down a bit, bu...