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Orchard Street Investment Management has launched its third special situations fund, which will invest in commercial property opportunities across the UK.
Singapore's sovereign wealth fund GIC Private (GIC) is a principal investor of the fund.
The fund will have an initial GBP150 million investment capacity and will look to acquire assets across the UK.
Philip Gadsden, managing partner at Orchard Street, says: “For an investor of the scale and reputation of GIC to have selected Orchard Street a third time to launch a fund is a strong endorsement of the strength of our working relationship. We are confident
- 04/11/2016
Goldman Sachs Asset Management (GSAM) has launched an ETF seeking to track the Goldman Sachs Hedge Fund VIP Index, a proprietary index maintained by GSAM.
The index includes 50 “Very-Important-Positions” – US-listed stocks that most often appear in the top 10 holdings of over 650 hedge fund managers, managing over USD700 billion in equity.
GVIP is competitively priced to shareholders at 45 basis points (bps) and began trading on the NYSE Arca on 3 November with USD20 million in assets.
“We’re thrilled to be able to package these high conviction investment ideas from a broad array of professional
- 04/11/2016
- 04/11/2016
Online trading provider CMC Markets has increased its market share in the UK across all three product segments of financial spread betting (FSB), contracts for difference (CFDs) and foreign exchange (FX).
That's according to a survey of over 12,000 traders in the Investment Trends 2016 UK Leveraged Trading Report.
CMC Markets increased its market share in FSB from third to second position, from fourth to third position in CFDs and from fourth to third position in FX, all based on primary market share.
This growth has been driven by strong customer satisfaction, with CMC Markets achieving the highest rating
- 04/11/2016
- 04/11/2016
The Warsaw Stock Exchange (GPW) and ACI Polska (the Polish Financial Markets Association) have signed an agreement whereby GPW will take over as the fixing organiser of the WIBID and WIBOR reference rates.
GPW becomes both the reference rate fixing organiser and the calculation agent.
The agreement will enter into force upon its approval by the WIBOR board and after the acceptance of the amendment to the Rules for Fixing WIBID and WIBOR Reference Rates by banks (fixing participants).
GPW decided to take over as reference rate fixing organiser following a proposal issued by ACI Polska.
ACI
- 04/11/2016
Intercontinental Exchange’s ICE Futures Europe Low Sulphur Gasoil contract achieved a daily volume record of 766,054 contracts on 1 November 2016.
Volume in ICE Low Sulphur Gasoil-related contracts, such as the ICE Low Sulphur Gasoil/Brent Futures Crack and the ICE Heating Oil/Low Sulphur Gasoil Futures Spread also achieved daily records of 57,890 contracts and 10,164 contracts, respectively.
The strong growth in ICE Low Sulphur Gasoil futures volume is driven by rising hedging demand from European refineries to meet winter diesel specifications and increasing hedging activity in cross-Atlantic diesel arbitrage flows.
The ICE Low Sulphur Gasoil futures contract is
- 04/11/2016
Arthur J Gallagher has extended its capabilities in credit and political risks insurance with the appointment of Rupert Boyle and Nick Ollerenshaw as executive directors.
Both report to Mark Gubbins (pictured), managing director of the specialist structured credit and political risks practice, and are based in London.
Boyle and Ollerenshaw join from JLT and bring over 45 years’ experience to Gallagher. They will use their experience and expertise to develop business with a particular emphasis on structured corporate and trade finance, protection of assets and investments, counterparty and performance risk.
Gubbins says: “In the current geopolitical environment, structured
- 04/11/2016
Cooley is broadening its fintech capabilities with the appointment of Marco Santori and Patrick Murck.
Santori (pictured), an authority on digital currency and blockchain technology, joins Cooley as a partner based in the New York office and a leader of the firm’s global fintech practice.
Murck, also a digital currency and financial technology expert, joins as special counsel based in Boston. Both arrive from Pillsbury.
Santori is a recognised authority in the law of digital currencies and emerging blockchain technologies. He provides regulatory counsel to banks, broker-dealers, exchanges, wallets, payment processors and other companies making new and exciting
- 04/11/2016
- 04/11/2016
A seven-month winning streak for hedge funds came to an end in October on the back of broader negative price moves, according to the latest figures released by GAM.
Both global equities and global fixed income markets were negative for October, with the MSCI World index declining 1.9 per cent and the Barclays Global Aggregate Bond index dropping 2.8 per cent.
The hedge fund space was not immune with the HFRX Global Hedge Fund index falling 0.6 per cent in October, reducing year-to-date performance to 0.8 per cent. Three of the four hedge fund strategies were negative, with relative
- 04/11/2016
By Natalie Bell, Harneys, British Virgin Islands – Segregated Portfolio Companies (SPCs) are now well recognised and widely used corporate vehicles, and we are seeing increasing demand for them in the funds context, writes BVI-based law firm Harneys. A segregated portfolio company benefits from statutory segregation of its assets and liabilities in one segregated portfolio from those of any other segregated portfolio, and from the general assets and liabilities of the company, but is a single, legal entity. The SPC has only one set of constitutional documents, one board of directors and, importantly, one set of annual licence fees.
The ability to
- 03/11/2016
Akin Gump London partner Davina Garrod (pictured), who focuses on trade and financial regulatory issues, comments on the High Court ruling that the UK Government may not invoke Article 50 without parliamentary approval…
An impressive bench of judges, including the Lord Chief Justice and Master of the Rolls, upheld the fundamental principle of Parliamentary Sovereignty today. A successful appeal in December looks unlikely given the seniority, expertise and experience of the first instance judges.
The EU has afforded numerous benefits for the UK – not least for the financial and legal services communities whose revenues run into hundreds of
- 03/11/2016
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