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Societe Generale Corporate & Investment Banking (SG CIB) has completed a programme to combine its execution teams, adapting to increasing client demand for fully integrated electronic and high-touch trading services across asset classes.
In the final stage of this integration, the investment bank’s high-touch cash equity team has moved to join the Global Execution Services (GES) team within Societe Generale Prime Services.
Francois Banneville (pictured), Head of Global Execution Services, now oversees the expanded Global Execution Services team with Howard Sherman reporting into him as Head of High-Touch Cash Equity, Andy Willis as Head of Exchange Traded Derivatives and
- 20/06/2017
UK active funds transaction fees have dropped by 20 per cent since 2014 while portfolio turnover stayed relatively stable over the same period according to independent fund research company, Fitz Partners.
The average portfolio turnover of UK domiciled active equity funds hardly moved from 59 per cent to 52 per cent in three years, whilst transaction fees decreased gradually from 0.25 per cent to 0.20 per cent.
Hugues Gillibert (pictured), Fitz Partners Chief Executive Officer says: “We have seen a gradual disconnect between transaction fees and levels of portfolio turnover. A 20 per cent drop in transaction fees over
- 20/06/2017
Aegon Asset Management US has added veteran portfolio manager Christopher Hartman to the company’s fixed income investment team.
Hartman has 18 years of industry experience, including nine years as a portfolio manager of the Calamos Market Neutral Income Fund. He started at Aegon Asset Management on 19 June, 2017.
“We look forward to Chris applying his extensive convertible arbitrage expertise to the development of a market neutral strategy,” says Gary Black (pictured), CEO for Aegon Asset Management US. “Chris has the experience, talent and track record in the alternatives space to develop a differentiated strategy that complements the firm’s
- 20/06/2017
Tim Warrington (pictured), has been elected the new chairman of the Group of Boutique Asset Managers (GBAM) at the organisation’s AGM in London on Friday.
Stavanger-based Warrington, the deputy Managing Director of Norwegian asset manager SKAGEN, joins past Chairman, Jose Luis Jimenez, Chief Investment Officer at Mapfre, and South African Hlelo Giyose, CEO of Johannesburg-based First Avenue Asset Management, on the GBAM Board. Also elected was Ladislao Larrain, the CEO of Chilean asset manager Larrain Vial Asset Management.
Beltran Parages of Madrid based value manager, azValor, retires from the Board by rotation having served three years. John Morgan, MD
- 20/06/2017
Man Group has appointed Steven Desmyter as Head of Responsible Investment and Chair of Man Group’s Responsible Investment Committee.
This position recognises his instrumental role in developing and driving forward the firm’s responsible investment capabilities, in support of clients’ needs. Steven, who is member of Man Group’s Executive Committee and Head of Sales across EMEA, will also continue in his current role.
As Head of Responsible Investment, Steven will lead Man Group’s focus on serving its clients’ interest in incorporating environmental, social and corporate governance (ESG) considerations in the investment decision-making process. He will additionally Chair Man Group’s Responsible
- 20/06/2017
Hedge funds were up 0.33 per cent in May with 2017 year-to-date gains coming in at 3.28 per cent, according to the June 2017 EurekaHedge Report.
Investor appetite for hedge funds has picked up pace since the start of the year, with net inflows of USD39.0 billion for the year following redemptions of USD55.1 billion in 2016.
AUM for the North American hedge fund industry has reached a record high of USD1.55 trillion as of May 2017. Since the Trump win in November last year, North American mandates have recorded a growth in AUM of USD56.3 billion – USD39.5
- 20/06/2017
The Lyxor Hedge Fund index was about flat during the past week, according to the latest weekly brief from the Lyxor Cross Asset Research Team.
Lyxor says that CTAs lagged with losses concentrating in their long US and Canadian bonds, in their long CAD, as well as in their short soft commodities, while moves in other strategies were mild.
L/S Equity funds’ losses in growth and tech positions were offset by gains in financials. Returns among L/S neutral funds were heterogeneous. Neutral fundamental outranked quantitative approaches, which were caught by factors rotation. Event Driven funds were supported by the catch-up
- 20/06/2017
Abacus Group, a provider of hosted cloud IT solutions for alternative asset funds, has enhanced its Abacus Client Portal, which gives asset managers greater control of and transparency into their AbacusFLEX cloud services.
The enhancements include two new modules giving unprecedented transparency into managed services provided by Abacus; real-time, on-demand charts, and enhanced visibility into services associated with each user account. The Portal enables Abacus clients to routinely monitor the inventory of Abacus services they are using for security, compliance or billing purposes as well as manage their data storage costs.
“With these enhancements to the Abacus Client Portal,
- 20/06/2017
IHS Markit has formed a strategic alliance with Deloitte to address MiFID II regulatory challenges leveraging IHS Markit’s Outreach360 solution and Deloitte’s regulatory business advisory expertise via a managed service.
IHS Markit and Deloitte will offer customers a total solution for navigating MiFID II data standardisation, client outreach and counterparty terms of business repapering. Outreach360 provides a centralised tool to create, send and track status of regulatory client outreach communications while leveraging the existing network available on Counterparty Manager by IHS Markit. Deloitte brings a wealth of advisory consulting expertise including MiFID II knowledge along with a managed service capability
- 20/06/2017
The European Energy Exchange (EEX) and Power Exchange Centra Europe (PXE) have successfully migrated the contracts previously listed on PXE onto the EEX T7 platform.
The offering comprises cash-settled power futures for the Czech Republic, Hungary, Slovakia, Romania and Poland. The contracts are available with monthly, quarterly and yearly expiries. Until 16 June, a volume of 117,965 MWh was traded in the new prod- ucts, now listed under EEX’s rule book in the T7 system.
David Kučera says: “We thank our members for supporting us in the migration process. This transition means that now more than 200 EEX participants
- 20/06/2017
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