FUNDS

First Sentinel Admitted to NEX

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.

Hedge Fund Allocations Turn Positive in Feb

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.

State Street: M&G Partnership Brexit Best Practice

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 accounting requirements.

Prestige Launches SWF Share Class

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.

City Financial Appoints Ellenbogen As CCO

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.

Hedge Funds Lower Fees As Fed Raises Rates

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.

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