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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
The US Commodity Futures Trading Commission (CFTC) has issued two separate orders filing and settling charges against Stephen Gola and Jonathan Brims for spoofing — bidding or offering with the intent to cancel the bid or offer before execution — in US Treasury futures markets while trading for Citigroup Global Markets.
The CFTC previously issued an order against Citigroup for its related violations of the Commodity Exchange Act and Regulations.
The Gola order requires Gola to pay a USD350,000 civil monetary penalty, and the Brims order requires Brims to pay a USD200,000 civil monetary penalty. Both traders are banned
- 31/03/2017
The European Power Exchange EPEX SPOT and the clearing house European Commodity Clearing (ECC) have introduced 30-minute continuous trading of power spot contracts in the intraday markets in France, Germany and Switzerland.
Some 450.45 MWh have been traded during the first 24 hours, with 118.65 MWh in France, 328.20 MWh in Germany and 3.6 MWh in Switzerland.
Cross-border trades accounted for 48 per cent of the total traded volume.
Cross-border capacity allocation in 30-minute-sequences by the Transmission System Operators (TSOs) Amprion, RTE, Swissgrid and TransnetBW was already possible since 2015. As the central counterparty of all EPEX SPOT
- 31/03/2017
US Commodity Futures Trading Commission (CFTC) acting chairman J. Christopher Giancarlo has appointed James McDonald as director of the agency’s enforcement division.
McDonald, who was most recently a prosecutor in the Southern District of New York, brings to the agency a successful track record of pursuing white collar and other crimes. He will assume his duties at the agency on April 10.
“Jamie McDonald’s appointment as the Director of the Enforcement Division is a signal to those who may seek to cheat or manipulate US markets that there will be no pause, no let up and no relaxation in
- 31/03/2017
The Exchange Council of the European Energy Exchange (EEX) has discussed the extension of EEX’s power derivatives product range with contracts currently listed on Power Exchange Central Europe (PXE).
At a meeting chaired by Michael Redanz, managing director of EWE Trading, the Exchange Council also approved the re-appointment of Steffen Köhler (pictured) and Tobias Paulun to the exchange management board of EEX, in addition to confirming new appointments to the sanction committee of EEX.
The focus of the meeting was the cooperation with PXE and the migration of the PXE product range of power derivatives to the EEX platform
- 30/03/2017
Avelacom has extended its low latency network and launched a new point of presence (PoP) to connect Interxion’s London data centre and Borsa Istanbul, making it easier for London’s capital markets players to enter emerging markets and exploit cross-venue arbitrage opportunities.
Interxion’s London data centre is home to an extensive financial services hub, made up of over two hundred market participants including key equity and commodity exchanges, PoPs for 12 major global execution venues as well as international banks, brokers and trading firms.
Financial markets firms using quantitative, high-speed trading strategies are now able to start trading Turkey’s capital
- 30/03/2017
Bloomberg has launched standardised Total Return Swap contracts on the Bloomberg Barclays Indices, providing predefined synthetic exposure to cash bonds for the most widely-used fixed income benchmarks.
As investors seek more cost-efficient methods of trading in less-liquid credit markets, Bloomberg TRS (BTRS) offers exposure to the Bloomberg Barclays US Corporate Investment Grade and US High Yield Indices at minimal capital expense.
“The introduction of Bloomberg TRS will help drive down costs and risks for a broader set of market participants,” says Bloomberg's global credit and TRS business manager Paul Kaplan. "As margin, risk and post-trade capital requirements have reduced
- 30/03/2017
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