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PineBridge Investments, a global multi-asset class asset manager, has launched the PineBridge European Secured Credit Fund, co-managed by portfolio managers Julie Bothamley and Evangeline Lim and global head of credit and fixed income Steven Oh. The investment objective of the fund is to provide investors with income returns and capital preservation from a diversified portfolio of European sub-investment grade debt obligations issued by corporations in various industries and geographical regions.   The fund will seek to achieve these returns from investing in primarily senior secured obligations.   “Senior secured debt, particularly, bank loans, carry a higher recovery rate and rank
Independent fund research company Fitz Partners gives an insight into the calculations of funds’ performance fees and their choice of benchmarks in the latest edition of its Performance Fee Benchmarking Report and Database. Hugues Gillibert (pictured), chief executive officer of Fitz Partners, says: “In light of growing discussions on how asset managers should be charging for ‘value’ and the alignment of investors and fund managers’ interests through the possible development of performance related fees, a deep understanding of performance fee structures is critical. Our latest Performance Fee Benchmarking report and database, offers the means to easily compare and analyse different performance
K&L Gates has appointed Giovanni Meschia as a partner in the investment management, hedge funds and alternative investments practice in the firm’s Milan office. He joins K&L Gates from Jones Day.   Meschia advises domestic and international fund managers on the structuring, establishment, and operation of alternative investment schemes across a wide range of asset classes, including private equity and debt, real estate, and venture capital.   He also assists sponsors and institutional investors in connection with their investments in those alternative investment schemes, both in primary and secondary markets.   His experience includes domestic and other European Union funds, corporate
A strategic data agreement between Thomson Reuters and S&P Global is aiming to deliver the industry’s most comprehensive transcript data service to financial services professionals. Under the agreement, S&P Global Market Intelligence (a division of S&P Global) will become a major provider of transcript coverage on both public and private companies including complete coverage of companies in the S&P 500 and other leading stock market indices to users of Thomson Reuters desktops platforms including Eikon, Thomson One and Thomson Reuters feeds.   S&P Global Market Intelligence is a provider of multi asset class research and data, and Thomson Reuters Financial
Apex Fund Services has agreed a recapitalisation deal with middle-market private equity firm Genstar Capital and is also to acquire Equinoxe Alternative Investment Services. Headquartered in Bermuda, Apex was founded in 2003 by Peter Hughes (pictured) and today provides back office, middle office, regulatory reporting and other administrative services to a global customer base of asset managers across all asset classes.   With the addition of Equinoxe, Apex will increase its suite of middle office solutions and will administer close to USD80 billion in assets.   With enhanced capabilities, global reach and capital support from Genstar, Apex has a goal
Dimensional Fund Advisors, a Texas based global asset manager with USD497 billion in assets under management, is extending its use of SimCorp Coric to enhance client reporting capabilities. This follows the firm having gone into successful production with SimCorp Coric for key marketing materials, including product brochures and fund factsheets.   Dimensional has been using SimCorp Coric since deciding to initiate an effort to enhance its client communications and reporting capabilities in 2014. The firm wanted an operating model, which would provide the long-term scalability needed to support its global reporting requirements. The implementation of SimCorp Coric has meant that
12th Street Asset Management has selected Archer, a technology and services provider for the investment management industry, to support the firm's growth across all channels, including separately managed accounts, a limited partnership and model delivery clients. Archer will provide technology and services in support of 12th Street's investment products with features and services that will allow the firm to effectively scale operations to accommodate future growth.   12th Street Asset Management is an employee-owned, Nashville-based asset management firm, managing roughly USD1 billion dollars. In selecting Archer's web-based technology to support its business with a single investment book of record, 12th
LiquidityBook has appointed Les Vital as head of technical sales. The appointment comes as demand accelerates for its POEMS (portfolio, order and execution management system) platform.   Vital (pictured), who brings over 15 years of capital markets experience, will work hand-in-hand with LiquidityBook’s sales, onboarding, product management and development teams. He will report directly to Sean Sullivan, chief revenue officer.   Vital joins from Broadridge Financial, where he spent six years as a project manager in its investment management solutions business, working in both New York and London on complex client implementation projects. Prior to that he served in Eze
GreenKey Technologies, creator of an artificial intelligence (AI) and voice-driven collaboration tool for financial market participants, has secured a patent from the US Patent and Trademark Office for its system for human speech-to-text and subsequent interpretation of spoken financial trades in a fast and accurate manner. The speech engine, "GreenKey Scribe," is trained on terabytes of financial conversations and allows for human error correction to achieve industry-leading transcription accuracy.   Scribe uses proprietary decoding techniques to transcribe audio up to 10 times faster than other engines and includes natural language processing libraries called Product Class Interpreters to automatically extract relevant
The performance of hedge funds, as measured by the Lyxor Hedge Fund index, was flat last week, according to the latest weekly brief from Lyxor cross asset research team. It was essentially hampered by the negative performance of global macro managers, who had maintained short positions on the EUR vs USD and long positions on commodities (energy and metals).   As a result of adverse market movements compared to their positioning, the Lyxor Global Macro index was down 0.5 per cent last week. The remaining hedge fund strategies were in positive territory, led by CTAs (+0.7 per cent).   Lyxor

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