Digital Assets Report

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The regulatory challenges and cost pressures facing buy-side firms are putting further demands on the sell-side to prove their relationship value, according to a study by TABB Group. According to conversations with 100 US head traders for the final instalment of TABB Group’s 12th annual benchmark study, “Broker Relationships in an Era of Full Disclosure: US Institutional Equity Trading 2016,” on why certain brokers were winning their order flow, 65 per cent of the buy-side mentioned liquidity and 48 per cent mentioned the broker relationship, while just 34 per cent said non-execution services.   Compared to 2015 overall, more buy-side
Financial, economic and alternative data platform Quandl has completed a USD12 million Series B financing round led by Nexus Venture Partners. August Capital, which led Quandl’s Series A financing, also participated in the round.   In conjunction with the funding round, Naren Gupta, founder of Nexus Venture Partners, has joined Quandl’s board of directors. Quandl’s funding now totals USD20 million.   Quandl will use the funding to expand its coverage of “alternative” data – data that offers predictive insights for capital markets, but has not been previously used in the finance industry.   “Alternative data is about to explode. We
Asset manager Pictet Asset Management has appointed Tim Holland as co-head of US sub-advisory within its US intermediaries group. "Over the past three years Pictet Asset Management has partnered with firms in the US to launch single strategy and multi-manager '40 Act mutual funds accounting for USD2 billion in AUM," says Liz Dillon, head of the US intermediaries group at Pictet Asset Management. "Tim's experience and knowledge in the sub-advised universe will add the next level of expertise to our team, reinforcing our success and commitment to the US sub-advised business."    Based in London, Holland (pictured) will focus on
Man Group has appointed Barry Schanker as head of US private wealth sales, based in New York. He will report to Eric Burl, head of Man Americas.   Schanker joins Man Group from SkyBridge Capital, where he was head of sales and instrumental in the growth and service of the firm’s client base.   Prior to joining SkyBridge Capital, Schanker worked for Citigroup Alternative Investments and before that held positions at Salomon Smith Barney/Citi Smith Barney.   Burl says: “I am delighted to welcome Barry to Man Group. His considerable experience and expertise in the US market will be of
The overall volumes that money market funds (MMFs) invest globally in asset-backed commercial paper (ABCP) will likely fall as the prime MMF industry shrinks, says Moody's Investors Service. Nevertheless, ABCP will remain an important source of investment diversification for MMFs.    "Among money market funds that invest in ABCP, the share of ABCP assets relative to overall portfolio assets will likely only decline moderately," says Marina Cremonese (pictured), vice president – senior analyst at Moody's. "This is credit positive because the funds will not lose the benefit of investment diversification even as their investment strategies become more conservative."   In
Amsterdam-based independent hedge fund specialist Theta Capital Management is celebrating its 15th anniversary this month. Theta Capital welcomed its first investors on 1 September 2001 and has always been exclusively focused on investing in hedge funds on behalf of its clients.   Founder Tijo van Marle says: “We started with a capital base of around EUR20 million from friends and family. Investors had their own dedicated portfolio of hedge funds. And September 2001 turned out to be an interesting month to start. Equity markets were down 10 per cent while we and our clients lost less than 1 per cent.
The Lyxor Hedge Fund Index was up 0.14 per cent in August, with seven out of 10 Lyxor indices ending the month in positive territory. The summer lull supported hedge funds, with merger arbitrage and fixed income and credit managers leading the pack.   In contrast, long-term CTAs suffered a setback especially due to the volatility in USD and US bonds.   “Most investors struggle to find compelling investment opportunities,” says Jean-Baptiste Berthon, senior cross-asset strategist, Lyxor Asset Management. “Trading volumes are low, the smart money remains on the sideline, trends don’t last, and differentiation across assets declined. However, with
Financial and corporate communications consultancy Citigate Dewe Rogerson has created a global hedge fund practice centred on London, New York, Hong Kong and Singapore. The practice will be led by senior director Christen Thomson (pictured), a former deputy CEO of the Alternative Investment Management Association (AIMA), the global representative of the alternative investment industry.   Thomson was responsible for co-ordinating strategic communications for the industry and worked closely with both many of the world’s biggest hedge funds and many of the world’s biggest investors in hedge funds, as well as with journalists covering the industry globally.     Patrick Donovan,
Alternative asset managers are changing their business models and exploring a broader set of arrangements designed to improve the alignment of interest between themselves and their investors, according to a survey by the Alternative Investment Management Association (AIMA). The study, titled “In Concert”, is the most extensive undertaken by AIMA into the design of manager remuneration, investment terms and other methods of deepening the relationship with investors.   AIMA chief executive Jack Inglis (pictured) says: “Managers want to build sustainable businesses and investors want the right kind of performance at a fair price. These are the interests that are being ever
MassMutual affiliates Babson Capital Management, Cornerstone Real Estate Advisers, Wood Creek Capital Management and Baring Asset Management are now fully integrated and operating as a unified company under the Barings name.  The Barings brand and logo have been refreshed in a move that aims to reflect a modern and forward-looking asset management firm committed to meeting the evolving investment and capital needs of clients.   "This merger marks an exciting moment in our history, and it enhances our ability to provide comprehensive, innovative solutions to help our clients meet their investment objectives," says Tom Finke, chairman and chief executive officer

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