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The third edition of the Yale School of Management (SOM)-EDHEC-Risk Institute Executive Seminar series will be commencing in January 2017. A series of seminars focused on Advanced Risk and Investment Management, with a program designed by Lionel Martellini, Professor of Finance, EDHEC Business School and Director of EDHEC-Risk Institute and Will Goetzmann, Edwin J Beinecke Professor of Finance and Management Studies, Director of the International Center for Finance, Yale School of Management, will be held in New Haven and London. For further details of the programme, including seminar dates and how to sign up to participate, please click here.  
The valuation of European stock markets is proving less attractive than previously, notably because of higher long term government bond rates, according to Renaud Froissart, manager of the Quaero European Long Short Equity Fund. The fund returned minus 2.7 per cent in October 2016 versus minus 1.0 per cent for the HFRX Equity Hedge EUR Index, but since inception on 20 February 2014, the fund is +5.7 per cent versus -5.5 per cent for the HFRX Equity Hedge EUR index.   Through October, the net investment rate was +60 per cent (comprised of 80 per cent long individual stocks and
SYZ Asset Management, the international asset management arm of the SYZ Group, has opened an office in Munich, strengthening its presence in Germany and its ability to provide services into Austria. The new office opening follows on from the opening of an Italian office branch in Milan and several hiring and specific product launches.   A branch of the London headquarters of SYZ Asset Management (Europe) Ltd, the Munich office can offer a focused range of funds from the Oyster Luxembourg SICAV, as well as discretionary mandates for institutional clients. The sales’ activity is led by Michael Kenichi Schlieper as
Exchange turnover in investment products and leverage products fell on Europe’s financial markets in the third quarter of 2016.  Compared with the second quarter of the year, the volume dropped by 9.0 per cent to EUR25.4 billion.    This represented a 26 per cent decrease year on year, according to analysis by Derivative Partners of the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members.   The third quarter turnover in investment products trading on European exchanges amounted to EUR9.2 billion. This represented a 36.2 per cent share of total transaction volume. Exchange turnover was on a par with the previous quarter’s level and up 3.0 per cent on the figure recorded a year earlier.    Turnover in the leverage products segment (warrants, knock-out warrants, factor certificates etc.) came to EUR16.2 billion in the period
Using automated voice surveillance systems and surveillance techniques involving Natural Language Processing are among the emerging practices being used to combat the risk of insider dealing and market manipulation, according to new guidelines from the FICC Markets Standards Board (FMSB). The practices are highlighted in a new FMSB paper or “Statement of Good Practice” on surveillance, which sets out the core principles that firms should consider and also identifies current good practice for surveillance in the foreign exchange markets.   In a separate Statement of Good Practice on conduct training in wholesale fixed income markets, the FMSB recommends that senior
StatPro Group’s recently acquired cloud-based risk analytics system Investor Analytics has been re-named StatPro Revolution Alpha, as the integration within the Revolution platform takes shape. New York based Investor Analytics was acquired by StatPro Group in January 2016. The addition has brought new analytics and risk models to StatPro’s global client base, including custom factor modelling capabilities.   Market data integration progress means Revolution Alpha is already using StatPro’s centralised global equity data for all analyses. Progress continues with the Revolution Global Data project that will permit Revolution Alpha to natively accept holdings data from the Revolution platform, which is
Daniel Melley has joined Putnam Investments in a newly created senior position responsible for the firm's efforts serving institutional clients and investors in Europe, the Middle East and Africa (EMEA). Based in London, Melley (pictured) will report directly to Jeffrey L Gould, head of Putnam Global Institutional Management.   "In the coming years, we expect to see an ongoing evolution of the institutional marketplace within Europe, the Middle East and Africa, presenting its own unique set of opportunities," says Gould. "As the region continues to seek an array of innovative strategies, leading investment thought leadership and an unyielding commitment to
Eaton Partners, a placement agents and advisory firm for private fund sponsors, has formed a distinct team that will work with and raise capital for unique private credit strategies globally.  Targeted strategies include asset-backed and direct corporate lending, distressed debt, real estate credit, and other specialty credit.    The team will primarily focus on representing credit managers located in the US, Europe and Asia.   “Recent regulatory hurdles have led to a secular retrenchment from banks in the commercial lending arena, and as a result, we’ve seen that opportunities for private credit managers are greater than ever,” says Jeff Davis
Hedge fund data provider HFR reports that hedge funds advanced in November, as the surprising victory of Donald Trump in the US Presidential election drove expectations for renewed growth, infrastructure spending and reduced regulation. The HFRI Fund Weighted Composite Index (FWC) Index gained +0.9 per cent in the month, with the Index Value rising to 12,841.95, the highest level since May 2015 and second highest since inception (1990). The November advance reverses the decline from the prior month, represents the eighth monthly gain in the past nine months, and brings YTD performance to +4.6 per cent, topping global equities. The
Vanguard and Charles Schwab are set to exert greater influence as prime money fund investors after significant market share gains following the introduction of money market fund reforms, says Fitch Ratings. The two fund managers are likely to have greater say on market access and issuer terms among prime money fund managers, although the balance of power in the short-term markets overall has shifted away from prime money funds.   As of end-October, Vanguard and Charles Schwab controlled 31 per cent and 16 per cent of prime money fund assets respectively, up from 11 per cent and 5 per cent

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