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The board of trustees of the Blackstone/GSO Long-Short Credit Income Fund (BGX) has approved a change in the fund’s investment guidelines. The change will increase the fund’s ability to invest in long investments while maintaining the limit of the fund’s short investments as a percentage of net assets.   The new investment guidelines will not specifically limit the fund’s long investments. The fund’s short positions, either directly or through the use of derivatives, will continue to be limited to up to 30 per cent of the fund’s net assets.   These guidelines will replace the fund’s previous guidelines, which limited
The Deutsche Bundesbank and Deutsche Börse have jointly launched a functional prototype for the blockchain technology-based settlement of securities. The prototype is designed to provide the technical functionality for the settlement of securities in delivery-versus-payment mode for centrally-issued digital coins, as well as the pure transfer of either digital coins or digital securities alone.   In addition, it is capable of settling basic corporate actions such as coupon payments on securities and the redemption of maturing securities.   The Deutsche Bundesbank and Deutsche Börse plan to develop the prototype further over the next few months, and this product will then
By Kyle Dunn, CEO Meyler Capital – Hedge funds and PE funds need to position their brand in front of their performance… Hear me out. This is what the landscape looks like today:   This is what I think it should look like: Did you notice that “performance” didn’t move on the scale? We simply re-positioned “brand.” My rationale The alternative investment sector is maturing.  In plain speak, the luster is gone. Nowhere is this more evident than the recent press about hedge funds – there isn’t much in the way of positive stories these days. Private Equity is doing
Old Mutual Global Investors (OMGI), part of Old Mutual Wealth, is to launch the Old Mutual Style Premia Absolute Return Fund (STAR) at the beginning of December. The Ireland-domiciled UCITS fund will be the latest addition to the business’s suite of systematic liquid alternatives products, addressing demand from institutional investors for portfolio-diversifying products that invest in strategies with uncorrelated returns to traditional markets.    OMGI currently manages GBP7 billion in hedge fund strategies.   STAR will have a volatility target of 8 per cent and aims to deliver positive total returns on a rolling 12 month basis, uncorrelated to bond
The European Energy Exchange (EEX) has registered its first trade in EUA options. The trade was registered in the December 2016 expiry period with a volume of 250,000 EUAs.   The trade was conducted by CEZ and another counterparty on 25 November and was registered through brokerage firm Evolution Markets.   Having launched in mid-October this year, the EUA options contracts are available for the current and the next eight December expiries.   Steffen Köhler (pictured), chief operating officer of EEX, says: “The introduction of options adds further weight to EEX’s emissions offering. The new contracts will help our clients
The status of the hedge fund industry in China was the focus of roundtable event hosted by The Hedge Fund Standards Board (HFSB) and the Shanghai Lujiazui Financial City Development Authority in Shanghai on 23 November. This event brought together 60 representatives from investors and managers who also discussed the domestic investor structure and how international firms can do business in China.   A panel of international institutional investors outlined global due diligence expectations and minimum standards local managers need to meet in order to attract international capital.    Topics covered included how local managers can benefit from exposure to
Bricknode has launched a new application in the Bricknode Add-On Marketplace called Transaction Viewer. The application can be launched as an add-on to Bricknode Financial Systems (BFS) as a tool to make the life of back office users easier.   BFS can be used by financial companies, FinTech innovators, application developers and expert consultants. The Bricknode Add-On Marketplace offers specialised apps to improve the experience for various users.   The latest release focuses on back office users and makes reconciliation and exception handling easier. Using the BFS API developers can quickly create financial technology products and distribute in the ecosystem
GLAS, an independent provider of finance administration services, has appointed Xavier Poussardin as head of capital markets business development (EMEA). Poussardin will be responsible for expanding GLAS’ services beyond direct lending and entering new geographies.   His appointment supports GLAS’ continued growth in the industry. As banks face increased challenges to provide agency and trustee services due to compliance and regulatory requirements, demand for independent firms has increased.   Poussardin was previously vice president at Deutsche Bank where he spent the last seven years in the global transaction banking team. Before this, he worked at Bank of New York as
The European Energy Exchange (EEX) has published the calendar for the auctioning of EU emission allowances (EUA) for 2017 in coordination with the European Commission and the participating member states as well as with the competent German authorities. EEX will carry out EUA auctions on behalf of 25 member states on three days per week in the framework of the common EU auction platform. These auctions are scheduled to take place on Mondays, Tuesdays and Thursdays during 9 January to 14 December 2017.   In its capacity as the auction platform appointed by the Federal Republic of Germany, EEX will carry
Aberdeen Asset Management has launched the Aberdeen Alternative Diversified Equity Fund (AADE) which aims to generate capital appreciation with limited correlation to traditional equity markets by blending a portfolio of equity-related alternative strategies. The fund offers investors access to high quality alternative investment talent in a liquid and regulated vehicle.   With its focus on generating returns through stock selection rather than market exposure, AADE is designed to provide a source of equity-related returns that are not dependent on the overall direction of the equity markets. This style of investment is becoming more popular among investors concerned about the current levels of

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