Daily News

FUNDS
First Sentinel (NEX: FSEN), the alternative investment company providing growth capital for public and private company investments, is pleased to announce the admission of its entire share capital of 6,359,894 ordinary shares ("Admission") to trading on the NEX Exchange Growth Market ("NEX"). Dealings in the ordinary shares will commence at 8.00am today under the TIDM "FSEN" and ISIN number GB00BZ7PWZ19.... Read more
FUNDS
After a long string of redemptions, hedge funds netted an estimated $7.9 billion in inflows in February, and are now positive year-to date in 2017, according to the just-released eVestment February 2017 Hedge Fund Asset Flows Report. The industry had endured net outflows in each of the last five months, and seven of the last eight, prior to February’s net inflows. Total industry AUM sits at $3.085 trillion, highest since July 2015. Other... Read more
REGULATORY
The Luxembourg Stock Exchange in cooperation with the Association of the Luxembourg Fund Industry (ALFI) has announced today the publication of the second edition of the compendium of Luxembourg laws and regulations on investment funds. The compendium, which is available in English, French and German, is made up of two separate publications in each language. The first publication covers undertakings for collective investment in transferable... Read more
FUNDS
Lawrence Wong, Singapore's Minister for National Development and 2nd Minister for Finance gave the keynote speech at the Investment Management Association of Singapore (IMAS)’s 20th Anniversary Conference today. Minister Wong’s speech is available here. Minister Wong mentioned that MAS will launch a public consultation on a new corporate structure for investment funds to accommodate open-ended investment companies – the... Read more
FUNDS
State Street Corporation (NYSE: STT) and its partnership approach with M&G Investments highlights the innovative solutions being developed to meet the new challenging requirements resulting from significant market events, including Brexit. State Street worked with M&G prior to the United Kingdom’s Referendum vote to evaluate options, and offer insight on product domicile-specificities, including distribution models and... Read more
FUNDS
The SS&C GlobeOp Forward Redemption Indicator for March 2017 measured 3.48%, up from 3.25% in February. “SS&C GlobeOp’s Forward Redemption Indicator for March 2017 was 3.48%, sharply lower than the 4.26% reported a year ago for March 2016. In fact, the 3.48% for March 2017 was the lowest level of redemptions for any month of March in the past five years,” said Bill Stone, Chairman and Chief Executive Officer, SS&C... Read more
FUNDS
BRI Partners today announced that it has launched the next generation of hedge fund indexes beginning with the BRI Long/Short Equity Index (BRILSE), calculated by Wilshire Associates, the first in a family of investable indexes that delivers the beta of hedge fund strategies. BRI Partners has developed eight indexes that will be rolled out over the coming months. Unlike existing hedge fund indexes, the BRI Indexes do not measure the performance... Read more
FUNDS
The first two weeks of March were marked with four major events in the financial markets. Starting with FED’s decision to raise the rates, which caused treasuries and stocks to rally, while U.S. dollar sank. Gold and oil profited from the rise in the rates and bitcoin was on the rise, continuing the momentum gained after the rejection of Winklevoss’ ETF application. U.S. regulators disapproved the launch of what would have been the... Read more
FUNDS
Prestige Fund Management, the specialist asset manager that focuses on lending to small and medium businesses in the UK, has launched a new bespoke share class (Participating IDS Shares) for a Middle East, sovereign wealth fund. The new mandate, from a single group in the region, involves a minimum three year commitment to Prestige’s direct lending strategy. This dedicated share class is not accessible to external investors. The allocation... Read more
FUNDS
Effective 13 March 2017, Ben Ellenbogen, in addition to his responsibility as the Firm's General Counsel, has been appointed as City Financial's Chief Compliance Officer.  Ben reports to Lou Thorne, Global Chief Operating Officer, and has the mandate to continue building the Firm's Compliance and Legal functions to the highest industry standards.  He is also a member of the Firm's Executive Management Committee. As part... Read more
FUNDS
Hedge fund liquidations increased in the fourth quarter even as the industry surpassed the $3 trillion milestone, bringing the number of closed funds for 2016 to the highest level since 2008. Hedge fund liquidations increased to 275 in 4Q, rising from 252 in the prior quarter, though falling from the 305 funds liquidated in 4Q15, according to the latest HFR Market Microstructure Report, released today by HFR. For the full year 2016, liquidations... Read more
REGULATORY
The Global Blockchain Business Council (GBBC) announces three days of celebratory conferences in Beijing and Shanghai surrounding the opening of its China chapter. These events follow the GBBC’s formal launch in January, during the Annual World Economic Forum Meeting in Davos, Switzerland and the U.S. opening in Washington, D.C. earlier this month.  The Global Blockchain Business Council (GBBC) brings together the world’s... Read more
CORPORATE
Diana Choyleva, Chief Economist at Enodo Economics, commented on the People's Bank of China raising interest rates today.. 'As you know the Pubco raised interbank rates today and most commentary focuses on China following the Federal Reserve in tightening. But the market underestimates the domestic reasons behind the PBoC's tightening bias. Interbank borrowing and lending has skyrocketed in the past 2 years and non-bank... Read more
CORPORATE
Unigestion, the boutique asset manager with scale, reports that its Nowcaster indicators are highlighting stronger inflation and growth around the world.  Amidst market excitement around the possibility of an imminent Fed rate hike, Unigestion’s Nowcasters are pointing to stronger inflation and growth - with the overall trend moving beyond reflation to inflation.  The stars are aligned for growth to make a longer-lasting... Read more
CORPORATE
Darren Ruane, Head of Fixed Income at Investec Wealth & Investment, comments on the recent outcome of the Dutch election: “The results of the Dutch election helped to buoy investment markets following a better-than-expected outcome for mainstream parties. In particular, current Prime Minister Mark Rutte’s Liberal Party is projected to take 33 seats in the 150 seat lower house of parliament. “The anti-Islam Freedom Party,... Read more
FUNDS
A new EDHEC-Risk Institute publication entitled “Smart Beta Replication Costs,” conducted as part of the Amundi research chair at EDHEC-Risk Institute on “ETF, Indexing and Smart Beta Investment Strategies”, provides an explicit estimate of the costs applied to a range of Smart Beta strategies and analyses the impact of different implementation rules or stock universes. A reasonable expectation from an investor’s... Read more
FUNDS
Market estimates of further rate increases this year look too low, says Nicholas Wall, portfolio manager, Old Mutual Global Strategic Bond Fund, Old Mutual Global Investors The US Federal Reserve (Fed) has just raised interest rates for the third time in a decade, in a significant acceleration of the pace by which it is tightening monetary policy. We believe further rate hikes are on the way – and at a faster clip than the market expects.... Read more
FUNDS
Fidante Capital (formerly Dexion Capital), the international capital markets business of Fidante Partners, has found that capital raising by existing listed alternative investment companies has been the dominating driver of sector growth. -          £537m has been raised by existing companies during Q1’17-to-date (to 10 March 2017) -         ... Read more
FUNDS
The A&P Emerging Manager Index produced a positive return of 1.85% in February 2017. With the "Trump rally" continuing in February, hedge funds, in general, maintained their positive momentum and extended their performance across all asset classes and investment strategies. The hedge fund industry has now recorded 11 months of positive gains out of the last 12 months, with the Eurekahedge Hedge Fund Index recording an... Read more
FUNDS
FIA today announced the election of directors to its board at its annual meeting in Boca Raton, Fla. Thirteen directors were elected at this meeting for one and two-year terms. Eric Aldous of RBC Capital Markets LLP and Jason Radzik of BNP Paribas SA joined the board for the first time, serving two-year terms.  Additionally, because the chairs of the FIA Principal Traders Group (FIA PTG) and the FIA European Principal Traders... Read more
FUNDS
Hedge funds gained 0.99% during the month of February. Meanwhile underlying markets as represented by the MSCI AC World Index (Local) gained 2.72% over the same period. February was marked by strong performance in US equities on the back of Trump's fiscal and monetary policy announcements with the S&P 500 ending the month up 3.78%. Economic data out of the US also shed a positive light on the region with a pick-up in inflation bolstered... Read more
FUNDS
ML Capital is pleased to formally announce the launch of the Quest Convertible Absolute Return UCITS Fund, a convertible arbitrage strategy hosted on the MontLake UCITS Platform. MontLake is a leading independent platform for UCITS funds that provide investors with access to a range of liquid, transparent and regulated investment products domiciled in Dublin. The MontLake Quest Convertible Absolute Return UCITS Fund utilises a fundamentally and... Read more
FUNDS
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for February 2017 measured 1.13%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.41% in March. “SS&C GlobeOp’s Capital Movement Index for March 2017 rose 0.41%, indicating positive net capital flows for hedge funds,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This increase... Read more
FUNDS
Bitcoin is enjoying a plenty of attention lately due to the rally in its price driven by its usage as frictionless payment solution and the catalyst: the ambitious plans of the Winklevoss brothers to launch the first bitcoin ETF. Friday, 10th March though was the day that SEC rejected the brothers’ ETF application, which could have been a ‘revolution’ for the digital currency in the investment space, like the first Gold ETF,... Read more
CORPORATE
A majority of executives at IAA investment advisory  member firms appear confident about their business prospects and plan to increase headcount this year. In the 2017 Executive Outlook Survey – the first in an annual series of surveys measuring and tracking business sentiment among IAA member executives – 63 percent said they plan to grow their workforces over the next 12 months. More than half (56 percent) plan to grow by up... Read more
FUNDS
Responsible investing, including the incorporation of environmental, social and governance (ESG) factors and ethical principles, is growing in importance in the alternative investment management industry, driven by ethical principles, constituent demands, and new business opportunities, according to a new survey conducted by the Chartered Alternative Investment Analyst (CAIA) Association, the global leader in alternative investment education,... Read more
CORPORATE
More than 150 senior executives from across the hedge fund industry filled a midtown auditorium here recently to kick-off the formation and first meeting of the new Data Management Working Group for the Alternatives Industry (DMWGAI). Developed over months of work by a core group of industry leaders, the DMWGAI’s mission is to create a strong culture of data management within the alternatives investment industry. To achieve this mission,... Read more
FUNDS
Man Group today announces the appointment of Michelle McCloskey as President of Man Americas. In this newly created role, Michelle will work with the Americas sales team, under Eric Burl's leadership as Head of Man Americas, to deepen Man’s relationships with investors in the Americas. She also remains President of FRM, where she will continue to work with Keith Haydon, CIO, and Mike Turner, COO, in leading the business, which is... Read more
FUNDS
It looks like GAM Portfolio Manager Kier Boley is going long on convertible arb funds. Here's what he had to say: 'Convertible arbitrage strategies have been an unloved category of the hedge fund landscape since they underperformed during the financial crisis. Over a three-year period to February 2017, performance has been weak, with the HFRX RV: FI-Convertible Arbitrage index losing 1.4% on an annualised basis compared to a 1.7% loss... Read more
CORPORATE
Technology-enabled innovation in banking, asset management and insurance means customers now enjoy faster, cheaper, more transparent financial services than ever before. As new entrants and incumbents provide these innovative services, they will define new ways of working which require clearly articulated and agreed standards. Anticipating both market and regulatory demands, the International Standards Organisation (ISO) Financial Services... Read more
FUNDS
During ABN AMRO Clearing’s 6th Amsterdam Investor Forum on 8 March 2017, DIM Funds was voted the AIF Factor 2017 winner. The fund successfully pitched their investment strategy and convinced more than 50% of the over 250 delegates, comprising of investment managers, institutional investors, hedge funds allocators and high net worth individuals. “Let’s make investments great again, by basing them on solid economic principles... Read more
FUNDS
Jordan Nuni, previously an analyst and original member of the investment team at Birch Grove Capital, has launched his own fund Xena Capital, THFJ has learned. Xena was formed back in January but officially launched on February 1st in New York City. Xena Capital is a multi-strategy cross-asset alternative investment manager running a hybrid long/short equity, convertible arbitrage, capital structure arbitrage and long/short credit strategy with... Read more
FUNDS
Kettera Strategies LLC and its Hydra marketplace, a global platform providing investors with manager access, notional funding, daily transparency and twice monthly liquidity to established and emerging alternative asset managers, today announced that the Diversified Trend Program of Transtrend B.V., an asset manager specialized in systematic trading strategies, has been added to the fast-growing Hydra platform.  Established in 1991 and... Read more
FUNDS
Garraway Capital Management, a London-based asset management firm, has announced that after strong 2016 performance Garraway Financial Trends is pushing ahead with its asset building programme. Garraway Financial Trends, an Irish domiciled managed futures UCITS fund, was launched in 2012, becoming a ‘pure’ UCITS strategy in February 2014. The Fund employs a proprietary systematic trend-following strategy to trade across global UCITS-... Read more
FUNDS
Hedge funds extended recent gains in February, as global equity markets rallied and all main strategies produced broad-based gains, led by Equity Hedge funds specializing in Healthcare and Technology. The HFRI Fund Weighted Composite Index® (FWC) advanced +1.0 percent for the month, the 11th monthly gain in the trailing 12 months, bringing YTD 2017 performance to +2.2 percent. February extends the HFRI FWC Index Value to 13,241, the third... Read more
FUNDS
Societe Generale Prime Services today announces the February 2017 performance data for its SG CTA indices.   February 2017 YTD SG CTA Index 2.27% 1.12% SG CTA Mutual Fund Index 2.19%                                    1.24% SG Trend Index... Read more
FUNDS
Alternative asset management is a growing industry, where investors seek diversification to their traditional long only investment portfolios. According to PWC, a significant increase in the assets under management (AuM) of alternatives is anticipated over the next quinquennium, reaching the levels of $15.3tn with hedge funds expected to contribute one third to that amount, which means an increase of $2tn in their AuM. Main drivers of this... Read more
FUNDS
Tom Wrobel, Director of Alternative Investments Consulting in SG's Prime Services division, today published his review of CTA performance in 2016. INTRODUCTION Managed Futures strategies experienced an up-and-down year in 2016 and, despite positive performance in December, finished the year in negative territory on average. Conditions for trend-following strategies were challenging, and the strategy experienced both significant run-up and... Read more
FUNDS
LGT Capital Partners Ltd., a leading alternative investment specialist, will acquire European Capital Fund Management Ltd. (European Capital), a London- and Paris-based private debt manager from companies controlled by Ares Management L.P. Subject to regulatory approvals, the transaction is expected to close in the second quarter of 2017.  In partnering up with European Capital, LGT Capital Partners will strengthen its investment... Read more
FUNDS
Astarte Capital Partners LLP, a London-based specialist alternatives investment manager, and BlueLake Associates LLC, a Zug-based investment consultancy and asset allocation specialist, have formed a strategic partnership. Through this partnership, Astarte will act as the private equity and real assets advisor to BlueLake, while BlueLake will contribute macroeconomic, asset allocation and risk management advisory services to Astarte. “We... Read more