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Independent global service provider JTC Fund Services has established a Guernsey-licensed Management Company (ManCo) as it continues to strengthen its European fund services proposition. Through the new Guernsey ManCo, JTC is able to support fund managers with a broad range of services, including portfolio management, risk management, compliance, and regulatory reporting.   The move significantly bolsters JTC’s pan-European fund services capabilities and means that it is now able to offer Alternative Investment Fund Managers Directive (AIFMD) compliant ManCo services, both onshore and offshore, to Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs).

   JTC’s Luxembourg
Hedge fund performance has been disparate across strategies in May, with event driven funds extending their winning streak (+0.7 per cent), fuelled by Merger Arbitrage which tends to perform well when bond yields fall, according to Lyxor. In parallel, Macro strategies underperformed (-1.3 per cent), on the back of long positions on the USD and on hard commodities. The remaining hedge fund strategies (L/S Equity, CTA, Fixed Income Arbitrage) ended the month in the black, despite the poor showing of market neutral L/S equity funds (-1.3 per cent).   In its latest Weekly Brief, Lyxor writes: “In terms of positioning
EEX Group has successfully implemented an initiative to move all C4TC positions to the equivalent C5TC positions, thereby closing all open interest in existing C4TC contracts. In doing so, EEX Group has become the only exchange platform offering Dry Freight FFAs to facilitate this move and the first to close all C4TC open interest, thereby helping the industry to transition to the new liquid benchmark which in turn allows clients to run all Capesize positions from a single book.   The EEX Group initiative, which included a fee waiver to facilitate the transfer, comes as a result of an industry
Specialist fund services provider Moore Management has achieved International Standard on Assurance Engagements (ISAE) 3402 Type II accreditation. Building upon Moore’s previous level one accreditation, which was awarded to the business in 2015, this accolade marks the end of a large-scale project focused on further developing and aligning Moore’s operations in Guernsey, Jersey and the Isle of Man.   ISAE 3402 is a global assurance standard developed by the International Auditing and Assurance Standards Board (IAASB) for reporting on controls within a service organisation. The assurance report is issued by auditors to companies who are able to demonstrate that their
Cordium, a provider of governance, risk and compliance services, has launched a solution to help firms adapt to the new requirements of the Criminal Finances Act, set go into effect in September 2017. Introduced by HM Revenue and Customs, the new legislation is intended to prevent the facilitation of tax evasion in the UK and abroad.  All UK business entities are within the scope of the changes and must take appropriate steps to prevent criminal activity.   To assist firms with this process, Cordium has developed a solution aligned with the six guiding principles that constitute a reasonable prevention defence,
ABN AMRO Clearing Bank is to make Trading Technologies International’s (TT) trading platform available to its customers around the world. ABN AMRO Clearing is already a distributor of TT’s legacy X_TRADER platform.   In the fourth quarter of 2017, professional traders who obtain software through ABN AMRO Clearing will have access to TT’s fully integrated suite of trading tools, including Autospreader, charting and analytics, block trading and TT Desktop, TT’s highest-performing user interface for complex workspaces that span across up to 16 monitors.   “We are pleased to offer ABN AMRO Clearing customers access to TT’s professional trading tools and enhanced
Bats Europe (Bats) is to expand its European index franchise with the planned launch of 18 new regional European benchmark indices, which include the Bats Eurozone 50, Bats Nordic 40 and Bats Europe All Companies. The new indices, which are planned to launch on 19 June 2017, bring further choice to the index market in Europe, providing investors and market participants with a real-time, high-quality, low-cost alternative to existing benchmarks. The indices have performed closely in line with comparable benchmarks and are designed and managed under the same set of consistent Bats’ rules used to create all of Bats’ benchmark
The Alignment of Interests Association, (AOI) a non-profit investor-driven organisation, has released Hedge Fund Fees: Achieving Greater LP/GP Economic Alignment, a set of guidlines aimed at creating increased investor-manager alignment on the issue. AOI’s Hedge Fund Fees guidance was developed by a committee comprised of leading institutional investors in hedge funds, including pensions, foundations and endowments, and consultants for investors in the space. The organisation said AOI’s members continue to see merit in investing in hedge funds, but not without more significant changes to the traditional fee model than simply a discounted rate.    The paper is a result of many
Steadfast Capital Markets Group has teamed up with Alcentra, a BNY Mellon investment boutique, to launch its latest alternative program, Steadfast Alcentra Global Credit Fund, an unlisted closed-end fund that seeks to capitalsze on the growing opportunity to provide direct lending to middle-market companies in the United States and Western Europe. Steadfast is teaming with Alcentra as the fund’s investment sub-adviser. Alcentra will source and actively manage the fund’s direct lending investments, backed by its deep institutional expertise and experience in providing debt and equity financing to middle-market companies, both in the US and Europe. The fund’s objective is to provide qualified
Tai United Holdings Limited’s indirect wholly-owned Singapore-based subsidiary Tai United Asset Management has been approved by the Monetary Authority of Singapore (MAS) as a Registered Fund Management Company (RFMC) under the Securities and Futures (Licensing and Conduct of Business) Regulations to officially carry on fund management business in Singapore. Since it began business in Singapore in 2016, Tai United Asset Management has been mainly conducting trading, of securities and derivatives, including futures (induces, foreign exchange, bonds and major commodity futures) and options using macro and hedging strategies, in developed capital markets, aiming for excess returns. After the approval, Tai United

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