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Rates of funds processing automation by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland reached new highs in 2016, according to a new report published by The European Fund and Asset Management Association (EFAMA) in cooperation with SWIFT.
The report is an on-going campaign by EFAMA and SWIFT to highlight the advancement of automation and standardisation rates of orders of cross-border funds. Twenty nine TAs from Ireland and Luxembourg participated in this survey.
The report reveals that the total volume processed by the 29 survey participants reached 34 million orders last year, while the total
- 12/06/2017
FundRock Management Company has appointed Enda Fahy (pictured), to head up the Illiquid Alternatives function at its Luxembourg Headquarters.
FundRock, one of the largest independent UCITS and AIFM investment management companies in Europe, has recently opened its Irish branch and has announced its intention to acquire a UK-based ACD. FundRock, as part of its five-year strategy, is also developing its current AIFM business to cover illiquid assets.
Over the 15 year course of his career to date, Fahy has acquired extensive experience in the Real Estate and Private Equity industries. Prior to relocating to Luxembourg, he was based in
- 12/06/2017
Increasingly, the search for alpha is pushing asset managers into the furthest corners of financial markets. New asset classes, new instruments and new geographies are conspiring to place huge pressure on pre-existing operating models as managers struggle to cope with the volume of investment data. Whereas previously the front office operated independently from the middle and back office, all three are converging to handle the data management task.
This, in short, is leading to a new investment management operating model; one that is more integrated, front to back. And is, in turn, being supported by service providers. Fund administrators, who
- 12/06/2017
Since its first live deal in January 2017, the number of banks eligible to publish deals via Ipreo’s Investor Access has doubled from eleven to twenty two.
Investor participation in this industry-led initiative continues to grow, with an active community of one hundred investors able to view published deals and over thirty of those institutions enabled to enter orders electronically.
May marks a record month, with 69 deals run over Investor Access where investors have submitted orders and received allocations electronically. The number of deals published year to date is approaching 400, and more than 100 of these have
- 12/06/2017
Calastone, the global funds transaction network, has successfully completion the first phase of its distributed market infrastructure proof-of-concept (PoC) to test the feasibility of using blockchain to develop a common global marketplace for the trading and settlement of mutual funds.
The tested distributed infrastructure model proved capable of processing transactions equivalent to a full day’s trading sourced from across Calastone’s global transaction network, which spans over 1,200 fund distribution and fund manager clients across 34 markets.
Campbell Brierley, Chief Information Officer of Calastone, says: “Successful initial testing, involving a large volume of trades across a fully representative global market
- 12/06/2017
Systematic alternative investment manager Devet Capital Investments has announced that assets under management have reached USD100 million, having risen from USD29 million in April 2016. “This is an important milestone for us, particularly as our asset growth has been fully organic without any involvement of seeders or accelerators,” says Irene Perdomo, co-founder, Devet Capital Investments.
The flagship program, Devet Capital Absolute Return Strategy, utilises systematic, market-neutral strategies on commodities’ futures. The strategy searches for statistically-defined anomalies in the shape of commodity curves that recur over time, seeking to produce consistent returns across different market regimes.
“We attribute our rapid asset
- 12/06/2017
- 12/06/2017
Broadridge Financial Solutions has formed a strategic alliance agreement with Spence Johnson, a provider of global institutional data and intelligence, to bring together retail and institutional data, benchmarking and analytics.
The combined capabilities will generate a unique global view of the global asset management market.
This strategic alliance leverages Broadridge’s Global Market Intelligence, a platform for retail cross-border fund data and analytics that delivers detailed information on 80,000 retail mutual funds and ETFs globally, and Spence Johnson’s market leading institutional Money in Motion dataset that provides detailed analytics on institutional assets, flows and sales, tracking over USD7 trillion in
- 12/06/2017
Singapore Diamond Investment Exchange (SDiX), the world’s first commodity exchange for physically settled diamonds, has raised USD10 million in Series B+ financing.
The round, which closed on June, was led by existing investors Vertex Ventures and SDiX Chairman Alain Vandenborre (pictured). New investors in this round include Simon Murray, Chairman and founder of SMC and GEMS and former Group Managing Director of Hutchison Whampoa; and Richard Ji, co-founder and Chief Investment Officer of All-Stars Investment and former Asia-Pacific Head of Internet/media investment research at Morgan Stanley.
The new investment will support the continued execution of SDiX’s strategy to create
- 09/06/2017
- 09/06/2017
Synechron, a financial services consulting and technology service provider, is to join the Misys InFusion Partner Program. Synechron will develop two Centres of Excellence focused on Capital Markets and Corporate Banking to support clients across the United States, Europe, Middle-East and India.
The Capital Markets sites will cover the Misys FusionCapital suite of products for Treasury and Capital Markets. Corporate Banking will include the Misys FusionBanking solutions in Lending and Transaction Banking. This will complement Synechron’s prominent track record in these markets and its long-standing systems integration capability.
Brian Gibson (pictured), Vice President, Partners and Ecosystem at Misys, says:
- 09/06/2017
- 09/06/2017
Jason Ganz has joined US Bancorp Fund Services as senior vice president of business development. Ganz, based in Atlanta, will focus on the continued growth of the company’s alternative investment service offering throughout the southern and western states.
“We are excited to continue to expand our dedicated team of professionals serving the hedge fund community,” says Bob Kern, executive vice president of business development at US Bancorp Fund Services. “Jason’s experience and expertise in hedge funds, fund of funds, private equity, and middle office services helps strengthen our team and provides additional support for our clients.”
Ganz has more than
- 09/06/2017
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