Daily News

FUNDS
Allianz Global Investors (AllianzGI) anounced today that two investment teams from Allianz Investment Management (AIM), part of Allianz Group, are to join AllianzGI’s expanding global private debt platform. Alongside Sound Harbor Partners, a US private credit manager AllianzGI announced last week it would acquire, these new teams will, alongside AllianzGI’s existing capabilities, form the core of a broad private debt platform within AllianzGI’s... Read more
CORPORATE
Paul Shanta, co-manager of the Old Mutual Absolute Return Government Bond Fund, commented yesterday on the ECB's last monetary decision of the year for the euro area. '2016 has been an increasingly turbulent year for the global economy, with the UK’s decision to exit the European Union and Donald Trump winning the US presidential election. With last weekend’s Italian referendum delivering the expected, but again disruptive,... Read more
FUNDS
The Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, has published a guide for fund managers wishing to establish a managed account, a popular form of investing in hedge funds that gives greater control over the management of the account to the investor. AIMA’s Managed Account Guide aims to provide fund managers with a better understanding of what to expect when offering... Read more
FUNDS
Fortunes for CTA strategies were mixed in November. The SG Short Term Traders Index was the only index to post positive performance in November returning 0.43% for the month. 6 out of the 10 constituent CTAs contributed positive returns. The SG STTI is still the best performing CTA index for the year however, it remains in negative territory at -1.15% YTD. The SG CTA Index posted a negative return of -1.83% and was down overall -3.38% YTD. The... Read more
FUNDS
Franklin Templeton Investments today announced the soft launch of the FTIF Franklin K2 Long Short Credit Fund (the “Fund”), a sub-fund of the Luxembourg-registered Franklin Templeton Investment Funds (FTIF) SICAV range. This is the third liquid alternatives offering made available in the FTIF range, closely following the launch of the Franklin K2 Global Macro Opportunities Fund2 last month. Luxembourg-based investors will... Read more
FUNDS
FRM, Man Group’s global alternatives investment specialist, has published the November 2016 edition of it's 'EarlyView' commentary today. Markets The most striking development in financial markets in November was not the surprise election of Donald Trump. It was the certainty of what a Trump victory would mean for markets, and how much this narrative changed from one week before the election to one week after the election.... Read more
FUNDS
Prestige Fund Management Limited (PFM) is pleased to announce the appointment of Peter Anderson as a Director. Peter has a career spanning nearly 30 years, split between the UK and Cayman with international accounting groups Coopers & Lybrand (PWC); Benbow Anderson & Co.; Deloitte Touche and Rawlinson & Hunter. He was awarded a BSc (Econ) Hons from Queen’s University, Belfast, and qualified as a Chartered Accountant with the... Read more
FUNDS
City Financial, the independent investment management firm with over US$4 billion in group assets, announces the appointment of four new senior operations hires. Amy Wong, William Dumas, Justin Brodersen and Simon Taylor have joined the firm with effect from 1 December 2016. All four will report directly to Lou Thorne, Global Chief Operating Officer. They all join from Fortress Investment Group (NYSE: FIG) where they previously worked with Lou... Read more
FUNDS
Advisors & Partners LLP (“A&P”), an independent alternative investment specialist and advisor to institutional investors, asset managers and other financial institutions, today announced that 13 new funds were added to the A&P Emerging Manager Index on the 1st December 2016, as part of the annual reconstitution process. The A&P Emerging Manager Index is designed to capture the total net returns of early stage &... Read more
CORPORATE
The Pensions and Lifetime Savings Association (PLSA) has today (Thursday) published its AGM Season Report 2016, focussing on the issue of executive pay. The report reveals that 87% of pension funds responding to a PLSA member survey say executive pay is too high. Of that 87%, almost two-thirds (63%) believe executive pay is generally too high, while 37% say it’s too high in cases of poor performance. Pension funds also have serious... Read more
FUNDS
Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, announced today that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the terms of the transaction, AllianzGI will acquire Sound Harbor’s assets for an undisclosed sum and the Sound Harbor team will join AllianzGI. As a result of the... Read more
CORPORATE
Societe Generale today announces a new agreement with Smartkarma, a curated online platform for investment insight focused on the Asian markets. Under this global agreement, Societe Generale will provide its institutional clients access to a new form of equity research based on demand driven and customised content* provided by the industry’s highly ranked analysts**, academics, data scientists and strategists. Societe Generale is the first... Read more
CORPORATE
Unigestion, the boutique asset manager with scale, today announces that Miles O’Connor has been appointed as Chairman of the board of Unigestion UK, based in London. Miles has previously held the roles of Head of UK Institutional and Head of EMEA Institutional at Schroder Investment Management, and has over 30 years of corporate management experience in Europe. His track record of leading businesses in the financial services sector include... Read more
CORPORATE
The Investment Management Due Diligence Association (IMDDA,) the only independent global organization focused on investment management and operational due diligence, today announced that it has published a professional code of conduct for existing and future members. This Code of Conduct ensures that members are held to the highest ethical and professional standards in the global investment management industry. Have a look at the code here ... Read more
REGULATORY
Irish Funds, the representative body for the international cross-border investment funds industry in Ireland, has welcomed the Central Bank of Ireland’s announcement on its intention to amend the requirements for Loan originating Qualifying Investor AIFs (“L-QIAIFs”), as set out in the AIF Rulebook. The changes will relax current restrictions and allow L-QIAIFs to make debt and equity investments linked to the loan origination... Read more
CORPORATE
The Connecticut Hedge Fund Association (CTHFA) and the Zhejiang International Hedge Fund Talents Association (HTA) have announced a strategic partnership.  The CTHFA represents the world’s second largest hedge fund center (as measured by number of firms with USD$1bn+ assets under management), while the HTA is the largest independent hedge fund association in China, representing over 300 of China’s leading hedge funds. The... Read more
CORPORATE
State Street Global Exchange today released the results of the State Street Investor Confidence Index® (ICI) for November 2016. The Global ICI decreased to 98.9, down 0.3 points from October’s revised reading of 99.2. The decline in sentiment was driven by the 4.6-point decrease in the Asian ICI to 116.1 and the 2.6-point decline in the European ICI to 86.5. The North American ICI rose slightly from 95.6 to 95.7. The Investor... Read more
CORPORATE
Global Head of Rates and FX Strategy at Societe Generale CIB Vincent Chaigneau’s publishes his outlook for 2017. The party is over. After years of easy money, inflation is finally bottoming out. Global growth is also picking up a bit, if too late to stop populists from fast forwarding policy rotation. Fiscal policy is back in favour, reducing the need for super easy monetary policy (the Fed path will be re-priced higher, the ECB will taper... Read more
FUNDS
Hedge funds came through an interesting and challenging month as winners dismissing the bad sentiment against them based on poor October performance and managed to exploit the dislocations created from the outcome of U.S. elections profitably. Investors foresee less regulatory burdens and anticipate the rise of structured credit strategies and infrastructure, which creates a sentiment of further economic growth. On the other side, the UK... Read more
REGULATORY
Today the European Commission released legislation concerning recovery and resolution of Central Counterparties (CCPs). Following the post-crisis G20 commitment in 2010 by Heads of Government to centrally clear derivative products, this legislation looks to address the systemic risk created by concentrating risk into clearing houses. This legislation is the result of over three years of work on the international level by the Financial... Read more
CORPORATE
The Hedge Fund Standards Board (HFSB), the global standard-setting body for the alternative investment industry, and the Shanghai Lujiazui Financial City Development Authority hosted a roundtable on 23 November in Shanghai. This important roundtable brought together 60 representatives from investors and managers (China-based and global) to discuss the state of the Chinese hedge fund industry. The discussion focussed on the status of the hedge... Read more
REGULATORY
Irish Funds, the representative body for the international cross-border investment funds industry in Ireland, held its largest ever UK event with other 600 industry professionals gathering in London earlier today. During a keynote address, Minister of State for Financial Services, Eoghan Murphy stressed that the Irish Government’s “aim is to provide a welcoming business environment and a responsive regulatory environment”.... Read more
FUNDS
Aberdeen Asset Management  has launched the Aberdeen Alternative Diversified Equity Fund (AADE Fund).  By blending together a portfolio of equity-related alternative strategies, the Fund aims to generate capital appreciation with limited correlation to traditional equity markets. The Fund offers investors access to high quality alternative investment talent in a liquid and regulated vehicle. With its focus on generating returns through... Read more
REGULATORY
FIA welcomes today’s publication of the European Commission’s (EC) proposals to amend the Capital Requirements Directive 2013/36/EU (CRD IV) and the Capital Requirements Regulation EU No 575/2013(CRR). The proposals released today include numerous comprehensive changes and new provisions, many of which are being driven by principles set by global standard setters, including the Basel Committee on Banking Supervision. The proposals... Read more
CORPORATE
The reaction of financial markets to the new Chancellor’s first, and last, Autumn Statement pretty much says it all; big surprises were conspicuously absent, but longer-term challenges remain. It is, arguably, possible to have too much excitement in life, and so for some of us at least, the relatively sober nature of the 2016 Autumn Statement will have come as welcome relief amid an evolving macroeconomic and political backdrop that has... Read more
CORPORATE
Chris Cummings, Chief Executive Officer of the Investment Association, comments on today's Autumn Statement: On investment in British infrastructure, housing and local government "The Investment Association supports the increased focus on infrastructure investment in today's Autumn Statement.  "To turn this policy into practical solutions requires a partnership between policymakers and the industry. That is why we are... Read more
PEOPLE
Prestige Asset Management Limited (PAM) is pleased to announce the appointment of Roger Evans as Director of International Marketing. He has over 25 years’ of independent consulting and advisory experience in both the private and public sectors across investment management, retail financial services, professional services, telecommunications and central government. He has worked across the spectrum of organisational types including Bank of... Read more
CORPORATE
100 Women in Hedge Funds ("100WHF"), a global, practitioner-driven non-profit organization that serves more than 15,000 alternative investment management investors and professionals, announced that, at its annual Hong Kong Gala, it successfully raised over HKD $2 million in gross proceeds to support mentoring programmes operated by The Women’s Foundation of Hong Kong (“TWF”).  TWF is a non-... Read more
FUNDS
The SS&C GlobeOp Forward Redemption Indicator for November 2016 measured 4.25%, up from 3.40% in October. SS&C GlobeOp’s Forward Redemption Indicator decreased sharply in November 2016 to 4.25%, down from 4.90% a year ago for November 2015,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “With this favorable result, the 2016 year-to-date monthly average redemption rate is running slightly... Read more
FUNDS
S.E.A. Asset Management Pte Ltd (“S.E.A. AM”), a boutique fund manager in Singapore, today announced it has listed its UCITS compliant Asian short duration high yield strategy on the Fundbase platform in Switzerland. The award winning Swiss Fintech company Fundbase has developed a database that acts as gateway for investors helping them to find and follow alternative investments that interest them. Fundbase offers built-in analytics... Read more
PEOPLE
The Hedge Fund Association (“HFA”), a leading volunteer driven nonprofit trade and nonpartisan lobbying organization serving the global alternative investment industry, is pleased to announce that hedge fund manager George Schultze has been elected to succeed attorney Ron Geffner as vice president. HFA’s board of directors has also appointed several new regional directors, added chapters in the U.S. and abroad, and launched a... Read more
FUNDS
State Street Corporation (NYSE: STT) released new research today that reveals nearly three quarters (73 percent) of asset managers are concerned about the challenges presented by MiFID II. The survey, which polled 100 global asset managers and alternative asset managers, gauged their readiness for MiFID II coming into force in January 2018. Designed to increase investor protection, the regulation will include new disclosure requirements... Read more
CORPORATE
100 Women in Hedge Funds ("100WHF") held its 8th annual Gala in Geneva at the Grand Hôtel Kempinski. The Gala and other fundraising events during the year raised over CHF210,000 for the benefit of Solidarité Femmes. The net funds raised will specifically be used for a project providing mentoring support to mothers and children who suffer from the effects of domestic violence. More than 220 members from across the finance industry... Read more
REGULATORY
David Vafai, CEO of bfinance, comments on the FCA report. “The bfinance team strongly welcomes this interim report from the FCA. We hope that it heralds an era of greater scrutiny for the investment consulting industry and how it operates.” "This report provides a powerful critique of consultants' manager ratings systems ('Buy-Lists'). It shows not only that managers on those buy-lists do not outperform those rated... Read more
CORPORATE
The New York based children’s charity A Leg To Stand On (“ALTSO”) held successful annual fundraisers in New York and Chicago, raising more than half a million dollars with all net profits going to support ALTSO’s work of providing free orthopedic treatment to disabled children in developing market countries around the world. In total, close to 2,000 guests attended the two fundraiser events -- ALTSO’s 5th Annual... Read more
CORPORATE
The Investment Association has issued an initial response to the FCA's Interim Report to its Asset Management Market Study. Chris Cummings, Chief Executive Officer, the Investment Association, said:  "The investment management industry is committed to serving the needs of the UK's savers and investors and so we support the FCA's objectives to ensure that competition in the industry works to the benefit of its customers... Read more
FUNDS
The A&P Emerging Manager Index produced a modest negative return of -0.06% during October 2016, ending the prolonged run of positive performance with a current YTD return of 7.32%. The Eurkahedge Hedge Fund Index returned an estimated -0.34% and the S&P 500 ended down -1.98% in October. Although hedge fund managers generally outperformed underlying markets, hedge fund returns in October produced mixed performances. This was against a... Read more
FUNDS
State Street Corporation (NYSE:STT) in partnership with the Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, released a new research report today that found that nearly half (48 percent) of survey respondents say that decreased market liquidity is a secular shift that is here to stay. Regulations stemming from the 2008 financial crisis, coupled with historically low interest... Read more
CORPORATE
Josh Crabbe, Head of Asian Equities at Old Mutual GlobalInvestors, comments on his thoughts on the outlook for Asian markets in 2017 given the recent surprise US election result. As president-elect  Donald Trump heads for the White House, much talk has centred on his views on protectionism, especially in relation to the Asian economies. But as is so often the case with public figures, I don’t think the full scale, aggressive increases... Read more
REGULATORY
The Association of the Luxembourg Fund Industry (ALFI) has announced that it has successfully negotiated an exemption from the obligation to hold an Australian financial services (AFS) licence to provide financial services in Australia. The exemption applies to Chapter 15 Management Companies and UCITS Self-Managed SICAV regulated by the Luxembourg financial supervisory authority Commission de Surveillance du Secteur Financier (CSSF). This... Read more