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Directed Capital, a distressed asset workout specialist firm that acquires, manages and resolves distressed commercial mortgage loans, has closed its seventh fund at USD77 million, its highest-grossing fund to date. Additionally, the firm has announced a USD40 million increase in the firm’s revolving credit facility from Goldman Sachs Bank USA from USD60 million to USD100 million.   The fund already has acquired more than USD180 million in assets, and quarterly distributions to investors began in the first quarter of 2016.   Since 2001, Directed Capital has sponsored seven funds, raising more than USD200 million in equity and acquiring more than
Wall Street Horizon, the corporate events surveillance specialist, and MT Newswires have formed a partnership designed to help quantitative investors uncover new sources of alpha.   Under the agreement, Wall Street Horizon will now be able to offer MT Newswires’ Live Briefs Pro-North America and Live Briefs Pro-Global Markets real-time news services and related archives to its roster of quantitative clients.   MT Newswires is expanding its reach to quantitative analysts and researchers. In addition to providing daily breaking news and analysis every market day from 4:00am-6:30pm EST, MT Newswires is now able to provide more than one million stories and
Sanlam’s Strategic Bond Fund is moving to its boutique investment manager Sanlam FOUR. Craig Veysey (pictured), the manager of the Sanlam Strategic Bond Fund and current head of fixed income at Sanlam Private Wealth, will move over to Sanlam FOUR, joining the GBP4.3 billion boutique’s current group of fund managers.   Veysey, who has more than 17 years of investment experience, has managed the Sanlam Strategic Bond Fund since its launch in March 2012. Prior to this, he managed global bond funds and other bond portfolios at Scottish Widows Investment Partnership, WestLB Mellon Asset Management and HSBC Investment Management.  
Clients of Exchange Data International (EDI) will now have access to worldwide corporate actions, closing prices and reference data via The Beast Apps, in addition to the BondΣ service, which is already available. By partnering with The Beast Apps, EDI is enabling clients to gain a more detailed view of their holdings and accurately calculate the risk of their portfolios.   Clients can benefit from The Beast App’s experience in making access to data available using Excel, browser and mobile devices and EDI’s knowledge of market data and analytics.   This collaboration combines EDI’s services with BeastExcel technology from The
The SS&C GlobeOp Forward Redemption Indicator for January 2017 measured 2.60 per cent, down from 5.67 per cent in December. "SS&C GlobeOp's Forward Redemption Indicator for January 2017 was 2.60 per cent, up from 2.31 per cent reported a year ago for January 2016," says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies. "Although somewhat higher than last year's level, the increase was well within the normal range of variation. Overall, the 2.60 per cent for January 2017 was the fourth lowest month of redemptions in the past five years."   The SS&C GlobeOp Forward Redemption Indicator represents the
A majority of eight to three of the Supreme Court judges has found in favour of Gina Miller’s (pictured) campaign that the UK Government cannot trigger Article 50 to begin the formal process of leaving the European Union without an Act of Parliament.  To proceed otherwise would be a breach of settled constitutional principles said Lord Neuberger. Interviewed for Global Fund Media’s AlphaQ magazine in December, Miller explained her reasons for launching the campaign, saying: “It was the same reason I do everything,” she says. “Transparency, accountability and scrutiny. We have a process of law and Parliamentary sovereignty and only Parliament
Law firm Dechert has expanded its financial services practice in Hong Kong with the addition of Michael P Wong. Wong (pictured) joins the firm as a partner and was most recently at K&L Gates.   “We are very pleased to welcome Michael to Dechert,” says Peter Astleford, co-chair of the firm’s financial services group. “Michael has already established a noteworthy and growing practice at his previous firm for global and PRC clients. By moving to our platform, we all anticipate that Michael’s and our clients will get a more integrated and better global service than ever before.”   Wong’s practice
Trading Technologies (TT) has appointed Michael Kraines as chief financial officer (CFO). Kraines will be responsible for finance, planning, strategy and business development.   Prior to joining TT, Kraines spent 25 years as an investment banker in the financial technology sector, executing over USD35 billion of market structure sector transactions.   Kraines joins TT from Sandler O’Neill + Partners, where as a managing director he led the financial technology effort and advised on transactions across every aspect of the market structure sector since 2004. Previously Kraines was a managing director in the financial institutions group with Wasserstein Perella since 1992,
Hedge funds outperformed equities and bonds on a risk-adjusted basis in 2016, producing net gains for their investors worth around USD120 billion, according to the Alternative Investment Management Association (AIMA) and data provider Preqin. Hedge funds’ risk-adjusted return, as measured by the Sharpe ratio, was 1.45 for the year, ahead of the S&P 500 (1.1), MSCI World (0.68) and Barclays Global Aggregate (0.20) indices, according to AIMA and Preqin.   The analysis, based on a database of more than 3,000 funds, found that hedge funds also outperformed stocks and bonds on a risk-adjusted basis over three years and five years.
Hedge funds were up 1.22 per cent in December, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The index ended 2016 with a gain of 6.20 per cent.   All but one of Barclay’s 17 hedge fund indices gained ground in December. The European Equities Index led the way with a 1.96 per cent gain, Global Macro gained 1.87 per cent, Distressed Securities gained 1.86 per cent, the Event Driven Index was up 1.70 per cent, and Equity Long Bias added 1.54 per cent.   “The ‘Trump bump’ in the US and positive economic news in Europe continued

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