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A survey by The European Repo and Collateral Council of the International Capital Market Association (ICMA) calculating the amount of repo business outstanding on 7 December 2016 from the returns of 65 offices of 62 financial groups, sets the baseline figure for market size at EUR5,656 billion.
Using a consistent sample of banks that have contributed to the last the surveys, the market shows 0.8 per cent year on year growth and 2.4 per cent growth from the June 2016 survey. The size of the repo market remains static, with some seasonal fluctuations. Negligible real growth in the repo market,
- 14/02/2017
Eurekahedge reports that hedge funds started the year on a positive note, up 0.84 per cent during the month of January. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 1.49 per cent over the same period.
Among regional mandates, Latin American hedge fund managers topped the tables, gaining 3.47 per cent while event driven managers posted the best returns, up 1.95 per cent among strategic mandates. Financial markets were still hinged on the developments post-Trump win with US equity markets trading higher at the start of January on the back of encouraging US macro data.
- 14/02/2017
Vistra has appointed Gavin Carruthers (pictured) as Director of its Jersey Fund Services business.
As Director, Carruthers will join the Funds team on the island who specialise in all aspects of corporate, fiduciary and administrative solutions for alternative investment structures, including real estate and private equity funds.
Carruthers brings a wealth of corporate and funds knowledge, obtained during a 15 year career in both the onshore and offshore financial services industry.
Prior to joining Vistra, Carruthers worked for Intertrust (formerly Elian and Ogier) and PriceWaterhouseCoopers.
Carruthers’ current experience includes real estate fund administration, private equity fund administration
- 14/02/2017
Berdon Fund Services, a New York-based fund administrator has incorporated FundCount’s accounting and investment software into its service offering.
FundCount is a Boston-based provider of integrated investment, partnership and general ledger accounting software that has been working with hedge funds, family offices and fund administrators since 1999. Berdon Fund Services’ adoption of the FundCount platform will enhance its service approach – by providing a robust solution that will enhance efficiency and overall client service – and better position the firm for growth.
Berdon Fund Services, an affiliate of New York-based Berdon LLP – Accountants and Advisors, was launched in 2015
- 14/02/2017
Perfect Channel, a specialist in marketplace transformation technology, has secured GBP2 million in funding from its long-term investor Beringea, and new partner UIL Limited, an investment company jointly managed by ICM Limited and ICM Investment Management Limited.
Perfect Channel – which has built an auction and trading platform for companies operating marketplaces in commodities and financial assets – will use the funding to support continued sales growth and product development over the coming year, following the appointment of industry veteran Jim Leeds as the company’s new CTO in January 2017.
Working with clients including Global Dairy Trade (GDT), Lloyd’s, and
- 14/02/2017
Calamos Investments has appointed Michael Grant (pictured), Senior Vice President, to lead portfolio management of the firm’s approximately USD2.3 billion in US growth strategies, including the USD1.8 billion Calamos Growth Fund (CVGRX).
With 30 years of investment management experience, Grant joined Calamos in 2015 following the acquisition of his firm, Phineus Partners LP, where he launched a successful long/short investment strategy that was reorganised into a retail mutual fund, Calamos Phineus Long/Short Fund (CPLIX), in 2016.
“Michael is an exceptional investment manager with a demonstrated track record of performance. He will apply his deep knowledge and expertise as part of
- 14/02/2017
BTL Group is working with a group of leading energy companies, including Wien Energie, Austria’s largest regional energy company, on a blockchain pilot using BTL’s Interbit platform.
As with previous projects that BTL has successfully completed in this space, the goal is to demonstrate how BTL’s technology can significantly drive down costs associated with energy trading. This revenue generating pilot will run alongside the other work BTL is continuing to undertake in the energy and finance industries.
Guy Halford-Thompson, Chief Executive Officer and Co-Founder of BTL, says: “We are very excited about working on this project with a number of
- 14/02/2017
Bermuda Monetary Authority (the Authority) has confirmed that Bermuda had 776 active captive licences on its register as at 31 December 2016.
The Authority’s definition of a captive – an insurer predominantly formed to self-insure the parent company – includes: Class 1, 2, 3 general business insurers and Class A and B Long-Term (life) insurers. Bermuda’s captive register as at 31st December 2016 included: Class 1 – 225 licences; Class 2 – 280 licences; Class 3 – 255 licences; Class A – 8 licences; and Class B – 8 licences.
Bermuda’s captive register remained stable in 2016, with new registration
- 14/02/2017
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.59 per cent in January, outperforming the 0.50 per cent monthly return for the HFRX Global Hedge Fund Index.
The Wilshire Liquid Alternative Index family is a joint offering between Wilshire Funds Management, the global investment management business unit of Wilshire Associates Incorporated, and Wilshire Analytics, creator of the Wilshire 5000 Total Market Index.
“Due to the perceived optimism that Trump and the Republican party bring to the economy, credit managers in both relative value and event driven strategies
- 14/02/2017
Blockchain will become adopted in the financial post-trade area in three to five years, according to almost half (48 per cent) of the membership base of the Post-Trade Distributed Ledger (PTDL) Group.
In addition, just over a quarter (29 per cent) of members believe blockchain will become adopted in as little as the next one to two years, though 21 per cent forecast it will take in excess of five years.
The survey of PTDL’s global membership found that the top three benefits of distributed ledger technology will be operational cost savings (cited by 81 per cent), increased efficiency/ reduced
- 13/02/2017
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