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Alternative asset managers saw an increase in “complexity” during the first quarter of 2017, with 152 managers, or 2 per cent, moving to a high complexity profile in their operational and business model, according to Convergence.
The increase in complexity was led by hedge funds, with 78 funds moving to high complexity, compared to 34 private equity funds, 10 real estate funds, and 28 “other category”.
Convergence assesses manager risk by tracking and monitoring 40 business and operational factors, including internal valuation, self-administration, and qualified audits. Convergence data has demonstrated a strong historical correlation between growth in fund complexity
- 19/04/2017
FinTech company NEX Group is planning to relocate its New York and London offices at a time of significant change for the business.
From the end of April, the NEX Group businesses in New York will relocate to new offices at 4 Times Square. Formerly known as the Condé Nast Building, NEX will occupy 82,400 square feet in the building.
In newly designed offices which have been developed with the NEX brand in mind, the new office will bring all of NEX's New York businesses under one roof for the first time and will allow the company to be
- 19/04/2017
- 19/04/2017
SaaS-based technology company Alight has appointed hedge fund manager Rick Brandt as vice president of platform product management to drive the firm’s real-time data analytics strategy.
Brandt has a background in investment management, data science, product management and product marketing, most recently as portfolio manager at RS Investments and Cerebellum Capital, a San Francisco machine-learning based hedge fund.
Prior to that, he was a partner at Resultant Capital Partners, a start-up alternative investment management firm.
He has held senior investment-centric roles at Symphony Asset Management and Connective Capital Management, along with technology marketing and product-centric roles at GoDigital
- 19/04/2017
- 19/04/2017
More than seven in 10 (73 per cent) institutional investors believe Brexit will be “hard”, including 29 per cent who believe it will be “very hard”, research by asset management group Managing Partners Group (MPG) reveals.
More than four out of five (82 per cent) also believe the number of UK-based financial services firms generally seeking to establish subsidiaries in the European Union will increase over the next three years due to Brexit.
While 44 per cent believe that UK asset managers specifically will probably get to passport their funds into the EU after Brexit, around 30 per cent
- 19/04/2017
The US CFTC has issued an extension of the time-limited no-action relief provided in CFTC Staff Letter 17-05 from 8 May 2017 until 7 November 2017.
The extended relief states that the CFTC will not recommend enforcement action against a swap dealer (SD) that is subject to, and in compliance with, the margin requirements for non-centrally cleared OTC derivatives in the European Union (EMIR RTS) for failure to comply with the CFTC’s final margin rule.
On 4 February, 2017, many SDs were required to begin complying with the EMIR RTS. Some of the same SDs have had to comply
- 19/04/2017
Mike Amey, head of sterling portfolio management at PIMCO, comments on Theresa May’s decision to call a snap General Election on 8 June…
Theresa May's decision to call a snap election on 8 Juneis not without risk, but given a 20 point lead in the polls the Conservatives should be able to materially increase their working majority in Parliament. That in turn would give the government more room for manoeuvre during the Brexit negotiations, and make the government less exposed to the more right wing factions within the party.
All else equal that should lower the risk of a
- 18/04/2017
- 18/04/2017
Dallas-based alternative investment firm Highland Capital Management has appointed Damon Krytzer as managing director, supporting business development across the firm's institutional platform.
The addition of Krytzer (pictured)is part of Highland's ongoing commitment to reshape its institutional platform to meet the needs of investors in today's increasingly complex investment environment.
Highland is focusing on institutional product strategy that draws on the firm's core competencies in fundamental credit research. In addition, the firm is looking to develop other areas of its institutional business including private equity and real estate.
Krytzer will report to Brad Eden, who joined Highland in 2016 as
- 18/04/2017
Axioma, a provider of enterprise market risk and portfolio management solutions, has appointed industry veteran George N Patterson as managing director, corporate strategy.
Patterson will focus on identifying buy-side trends and market opportunities to expand the company’s footprint and accelerate growth.
Patterson was previously chief investment officer, multi-asset investments at Bank of Montreal Global Asset Management.
“As a long-time client of Axioma, George has a strong grasp of the strengths, capabilities and potential of our solutions and services—not to mention the evolving needs of the clients and markets we serve,” says Sebastian Ceria, chief executive officer of Axioma.
- 18/04/2017
As 2017 unfolds hedge funds are facing erratic asset growth, passive investments are grabbing attention and assets, redemptions are making headlines, fees are under pressure and performance is only just beginning to show signs of life, all amid fierce competition.
“The USD3 trillion world of hedge funds is being pushed and pulled into a marketing environment unlike anything it has seen before,” says Kyle Dunn (pictured), founder and CEO of Meyler Capital, an integrated capital-raising and marketing services company for hedge funds, PE funds and other alternative investment firms.
“Old tools, old instincts don’t work,” says Dunn. “Today’s focus
- 18/04/2017
- 18/04/2017
Carey Olsen's corporate team in Guernsey has been the first to establish a Guernsey Private Investment Fund (PIF) since the new class was introduced.
Partner Christopher Anderson (pictured) led the Carey Olsen team advising specialist private investment firm Cairngorm Capital Partners on the GBP107.5 million final closing of its second fund, Cairngorm Capital II.
Cairngorm II is the first Guernsey fund to be established as a PIF since the Guernsey Financial Services Commission (GFSC) licensed and registered PIFs class was introduced on 16 November 2016.
The team, including senior associate John Scanlan and associate Colin Calvert, advised on
- 18/04/2017
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