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Man Group has completed its previously announced acquisition of Aalto Invest Holding (Aalto). Luke Ellis (pictured), CEO of Man Group, says: “We are delighted to have completed the acquisition of Aalto, which is a key step in the development of Man Global Private Markets, our new investment engine for private asset classes, and in the ongoing diversification of Man Group. The acquisition of Aalto represents an attractive opportunity for clients, who will have access to longer term investment strategies offering a complementary risk reward profile to our current products.”   Aalto will be a central component of the newly formed
The European Energy Exchange (EEX) reached a volume of 287.4 TWh on its power derivatives markets in December 2016, an increase of 23 per cent on December 2015’s total volume of 233.6 TWh. At 205.2 TWh, Power Futures for Germany/Austria contributed the largest share to the total volume. Compared to the previous year, volumes in this market increased by 43 per cent (December 2015: 143.8 TWh). Also the Spanish market recorded significant growth with a volume of 6.7 TWh which corresponds to an increase of 52 per cent (December 2015: 4.4 TWh). The December volumes comprised 142.3 TWh registered at
Smaller hedge fund managers will continue to outperform during 2017, according to Don Steinbrugge Managing partrner of Agecroft partners, who has revealed what he sees as being the top hedge fund industry trends for the coming year. Steinbrugge highlights that, year to date through November 2016, smaller funds significantly outperformed larger funds, as demonstrated by the HFRI Fund weighted composite, which was up 4.54 per cent vs the HFRI dollar weighted composite's gain of only 1.90 per cent. He sees one of the biggest issues within the hedge fund industry as being the high concentration of flows to the largest managers with the strongest brands with almost 70
Lyxor’s Cross Asset Research team has released a report on the performance of active mutual funds versus their benchmarks in 2016. The team writes that it would be an understatement to say that active investing has been challenged in 2016. “Political risks loomed large and the switch from deflation fears to reflation hopes in H2 led to sizeable trend reversals across the board. This took most investors by surprise.” The result was that hedge funds underperformed global equity and bond indices in 2016, while active mutual funds failed to beat their benchmarks. “A very small proportion of both European and
Euronext has made an irrevocable EUR510 million all-cash offer to LCH.Clearnet Group Limited (LCH.Clearnet Group) and London Stock Exchange Group (LSEG) to acquire LCH.Clearnet SA (Clearnet). Clearnet is a leading, multi-asset, Eurozone-based Central Counterparty (CCP) serving Euronext’s markets, pan-European electronic trading platforms and OTC markets, with gross income of EUR137 million and profit after tax of EUR36 million in 2015, and shareholders’ equity of EUR301 million. Clearnet has commenced a period of consultation with its works council during which LSEG and LCH.Clearnet Group have granted exclusivity to Euronext. Euronext says the acquisition will strengthen the company’s position at the heart
Nuveen, an operating division of TIAA Global Asset Management, has completed the liquidations of the Nuveen Diversified Commodity Fund (CFD) and the Nuveen Long/Short Commodity Total Return Fund (CTF).  As previously announced, each fund’s shares ceased trading and were delisted after the close of business on Friday, 23 December, 2016.  Access to Schedules K-1 and information for the funds’ 2016 tax year is expected to be provided by the end of the first full week of March 2017, and will be made available on Nuveen’s website. In accordance with Commodity Futures Trading Commission rules applicable to the funds, each fund
Bricknode has released a tax reporting app for the platform Bricknode Financial Systems in order to streamline tax reporting for financial institutions. Tax reporting involves generating tax verification data and tax filings for local tax agencies and is one of the most resource consuming areas of the financial industry. In order to keep up with changing regulations and legacy back office systems the consultancy costs has exploded. For numerous years Bricknode has worked with several brokerage firms, fund companies and other financial institutions. By doing so, Bricknode has been able to analyse the most significant areas where this could be
Japan Macro Advisors (JMA), whose clients include a few of the world’s largest hedge funds and global manufacturing companies, has launched "My Charts," a set of web-based analytical tools to help economists and decision makers stay on top of the Japanese economy.  Building upon the free and constantly updated economic database JMA provides to the public, My Charts functions as a personal chartbook that is east to maintain and can be converted instantly to PowerPoint slides.  "Economists and analysts such as myself spend too much time not analyzing, but searching and downloading data, updating charts and tables, copy-pasting them to presentation
State Street Global Exchange’s global Investor Confidence Index (ICI) decreased to 94.2 in December, down 3.4 points from November’s revised reading of 97.6.  The decline in sentiment was driven by the 6.7 point decrease in the Asian ICI to 109.1 along with the 6.0 point decline in the North American ICI to 87.5. By contrast, the European ICI rose 13.7 points from 86.4 to 100.1. The Investor Confidence Index was developed by Kenneth Froot (pictured) and Paul O’Connell at State Street Associates, State Street Global Exchange’s research and advisory services business. It measures investor confidence or risk appetite quantitatively by
PKF O’Connor Davies has published “From Hedge Fund to Family Office: Making the Right Choices for Your Investment Business and Family,” a new guide to converting hedge funds to family offices written by by Partner Alan S Kufeld (pictured).  The new guide explores the intricacies of the conversion and and discusses how investment managers can leverage their expertise to properly structure their new business. The giude is available on the Insights section of the PKF O’Connor Davies website. “Converting to a family office is a trend that we have been monitoring for some time. Increased regulation and inconsistent market performance

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