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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
Alternative investment firm Black Diamond Capital Management and alternative asset manager Spectrum Group Management have received a favourable ruling in their long running dispute with Yucaipa in connection with their investment in Allied Systems.  In a written opinion last week, Judge Sue L Robinson of the US District Court in Delaware granted their motion to dismiss a lawsuit asserting claims against the firms under the Racketeer Influenced and Corrupt Organisation Act (RICO) by Yucaipa, finding there was "no plausible basis" for the claims.   Dismissal of the lawsuit is the latest in a series of favourable court rulings for Black
Saxo Bank has launched a digital trading solution for corporate and government bonds which gives its clients access to trading opportunities in over 5,000 investment grade and high yield corporate and government bonds from all over the world and in 20 different currencies. The solution will be rolled out in October on SaxoTraderGO, the bank's multi-asset trading platform.   Saxo Bank will offer both retail and institutional clients more transparent, cheaper and more efficient access to fixed income trading opportunities.   It says the move is set to revolutionise the way investors trade bonds – a process which currently involves

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