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AK Jensen Group (AKJ), an independent brokerage serving the institutional and hedge fund industries, has named Kieren McCormack as CEO of its subsidiary, AK Jensen Limited.
McCormack (pictured) joins AK Jensen Limited from Credit Suisse, where he was a managing director and head of prime services sales and coverage in Europe. Credit Suisse was the largest prime broker in Europe by assets (Eurohedge) for the past seven years and for the most part McCormack led the team behind this success.
AKJ’s chief executive officer, Anders Kvamme Jensen, says: “McCormack has an impressive 20-year track record in prime services and
- 03/04/2017
- 03/04/2017
The Lyxor hedge fund index was up 0.2 per cent last week, taking it to an increase of 0.5 per cent in March and 1.1 per cent in the first quarter.
Most strategies were up in Q1, with event-driven outperforming and CTAs underperforming.
Within event-driven, special situations funds are leading the pack. Activists have particularly thrived, with leading players in this space up in the range of 4-5 per cent year to date. Meanwhile, market neutral L/S equity funds extended their recovery last week. The Lyxor L/S equity market neutral index is up 3.3 per cent year to date
- 03/04/2017
Gresham House, an asset manager focused on alternative investment strategies and illiquid asset classes, has appointed Andy Hampshire to the newly created role of chief technology officer.
Hampshire (pictured) will develop and drive the implementation of Gresham House’s technology strategy, including the creation of a distinctive co-investment platform. This platform will provide a high quality service for investors and facilitate co-investment opportunities for clients, which will materially enhance the group’s client service proposition.
He will also advise investee companies on the use of technology as a driver of shareholder value creation.
Hampshire has over 10 years of experience
- 03/04/2017
- 03/04/2017
FundRock Management Company has appointed Ronan Doyle as head of risk and operations for its Irish AIFM and UCITS management company branch.
Doyle (pictured) has broad and deep funds industry experience spanning more than 18 years, specialising in fund administration, depositary and management company services.
“At FundRock we have a long heritage in fund governance developed over 80 years and have been involved in the Irish market servicing funds since 2012. As we look to expand our offering in Ireland it is important that we source local talent and expertise in order to enhance our clients experience and increase
- 03/04/2017
Euronext has signed a binding heads of terms with ICE Clear Netherlands, a subsidiary of Intercontinental Exchange, for the provision of clearing services for its financial derivatives and commodities markets.
Under its “Agility for Growth” strategy, Euronext has deployed significant effort to establish clearing optionality for its clients, including acquiring a 20 per cent stake in EuroCCP and subsequently launching the preferred clearing model for cash equities.
On 3 January 2017, Euronext was granted exclusivity to acquire 100 per cent of the share capital and voting rights of LCH.Clearnet SA (Clearnet), contingent on the closing of the merger between
- 03/04/2017
The Derivatives Service Bureau has opened the DSB User Acceptance Testing (UAT) platform to the industry with a revised and updated set of product templates that are consistent with MiFID II requirements.
The UAT platform is a functionally complete system that will provide near real-time allocation of International Securities Identification Numbers (ISINs) for OTC derivatives as well as generate additional attributes that are mandated by MiFID II, such as the Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN) ISO standard values.
“We are delighted to make available the UAT platform for formal industry testing on time
- 03/04/2017
USCF has launched the company's first mutual fund, the USCF Commodity Strategy Fund, with SummerHaven Investment Management, a Stamford, Connecticut based commodity trading adviser.
The mutual fund will initially offer two share classes: A shares and I shares.
The fund seeks long term total return and will use the SummerHaven Dynamic Commodity Index (SDCI), which USCF has licensed from SummerHaven's affiliate, SummerHaven Index Management, as its benchmark index.
"We are thrilled to join the mutual fund community by introducing a new product that employs the same commodity selection methodology as our exchange-traded product, the United States Commodity Index
- 03/04/2017
By Richard L Shamos (pictured) and Ron S Geffner, Sadis & Goldberg – The global investment funds marketplace today is beset by contradictory economic forces, with increasing financial opportunity accompanied by a rising regulatory burden and populist politics. These tensions are perhaps nowhere more apparent than in Europe, where the investment funds industry posted a record high in 2016 of EUR14.1 trillion in assets under management, including record sales of alternative investment funds of EUR184 billion. This all occurred amidst the Brexit referendum, Trump election, record immigration, attacks of terrorism and sporadic bursts of nationalism.
The underlying message is a profoundly positive one: the
- 31/03/2017
Firmino Morgado and Filipe Bergaña are to join Man GLG as portfolio managers, based in Man GLG’s London office.
They will join from W4i Investment Advisory, a European equity focused investment manager.
Morgado (pictured) and Filipe co-managed three investment strategies focused on European assets: W4i European Dividend which outperformed the benchmark MSCI Europe TR by 7.7 per cent, beating 96 per cent of the funds in Morningstar’s Europe Equity Income peer group; W4i European Opportunities which outperformed the benchmark MSCI Europe TR by 7.3 per cent; and W4i Iberian Opportunities which outperformed the benchmark IBEX35 TR by 15.0 per
- 31/03/2017
Joe Neuberger, currently executive vice president and chief operating officer of US Bancorp Fund Services, is to succeed Joe Redwine as president this April.
As president, Neuberger (pictured) will be responsible for the day-to-day management, financial performance and long-term growth strategy of US Bancorp’s fund services business.
“Joe is the right person at the right time to take US Bancorp Fund Services to the next level, both in client service and the growth of the business,” says Gunjan Kedia, vice chairman of US Bancorp’s wealth management and securities services division. “He has proven himself to be an inspiring leader
- 31/03/2017
- 31/03/2017
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