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Agency-focused brokerage and trading services provider Convergex has enhanced its recently launched Small Cap Algorithm by improving the algo's fair price model.
This enables traders to source as much liquidity as possible in less liquid names while minimising impact in the market place.
Convergex's Small Cap Algorithm rests completely hidden in over 15 ATSs, yet will exit the market when it senses that it is signalling its presence in the market place. The algorithm will then return to the market when it determines that it is advisable to re-engage. Meanwhile, block executions are continuously analysed for the potential execution
- 22/08/2016
- 22/08/2016
Australian hedge funds have recovered from the outflows which occurred during the global financial crisis, according to industry stalwart Kim Ivey (pictured), now an adviser to hedge fund managers and family offices.
He says that some are having a particularly good year now thanks to the extra volatility from the nervousness over China and the ramifications of Brexit.
Ivey, a founder of the annual Hedge Funds Rock & The Australian Hedge Fund Awards charity night, which is in its 15th year and is due to be held at Sydney’s Ivy Ballroom on 15 September, says trend-following strategies such as
- 22/08/2016
An affiliate of alternative investment platform FAB Partners is to acquire US private debt investment manager CIFC for approximately USD333 million in cash.
Under the terms of the merger agreement, CIFC shareholders will be entitled to receive USD11.46 in cash per share – USD11.36 per share as consideration in the merger, plus a USD0.10 per share distribution detailed below.
This represents a premium of more than 60 per cent over CIFC's closing share price on 19 August and a premium of approximately 160 per cent over the 27 January 2016 closing share price, the day prior to CIFC's announcement
- 22/08/2016
The SS&C GlobeOp Forward Redemption Indicator for August 2016 measured 3.86 per cent, up from July’s figure of 2.95 per cent.
The indicator is up from the 3.46 per cent figure reported a year ago for August 2015.
Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies, says: “Given seasonal patterns, this result is in the normal range of historical variation."
- 19/08/2016
Rhenman & Partners Asset Management is to launch a global equity long-short fund on 31 August, named Rhenman Global Opportunities L/S.
The fund can invest in all sectors worldwide and will be managed by Staffan Knafve.
Rhenman Global Opportunities L/S will make its investments based on active selection of regions and sectors, completely independent of index.
The fund will take 35 to 50 positions, preferably in larger companies. The investment horizon for long positions will typically be two to four years, while the time horizon for short positions will typically be six months up to two years. The
- 19/08/2016
A decade after starting Blue Sky Alternative Investments, founder Mark Sowerby will hand over the reins to the company’s current chief operating officer, Robert Shand, on 30 September 2016.
Shand has been with Blue Sky since 2010, was promoted to chief operating officer in 2013, and is well known to Blue Sky’s investor and associate network. He will replace Sowerby as managing director, backed by the existing team.
Sowerby, who will remain an active adviser to the business and a significant shareholder, is stepping down to spend time with his family and increase his involvement in other projects with
- 19/08/2016
Hedge funds gained 1.99 per cent in July, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
Year to date, the index is up 2.66 per cent.
“The confluence of post-Brexit central bank accommodation, positive Q2 earnings, and signs of a strengthening US economy supported global equity markets and created favourable conditions for all hedge fund strategies,” says Sol Waksman (pictured), founder and president of BarclayHedge.
All of Barclay’s 17 hedge fund indices had gains in July. The Healthcare and Biotechnology Index gained 3.97 per cent, Equity Long Bias was up 3.05 per cent, Distressed Securities gained
- 19/08/2016
Substance in the fund management sector, particularly in the context of the Alternative Investment Fund Managers Directive (AIFMD) and Base Erosion and Profit Shifting (BEPS) initiative, is of increasing importance, according to a Guernsey Finance white paper.
Investment funds – Why substance is key, written by funds journalist Kirstie Brewer, examines how the need to prove that an offshore fund manager has the necessary ‘substance’ to its business dealings and functionality has never been more acute, particularly in the context of the current climate of regulatory reforms and politically-motivated improvement of tax transparency.
The white paper looks specifically at
- 19/08/2016
Nasdaq has extended its contract with BM&F Bovespa – the largest stock exchange in Latin America – for the use of the SMARTS Market Surveillance platform across Brazil's equities, commodities and futures markets.
Nasdaq has been working with BM&F Bovespa since 2011, helping to detect irregularities and market abuse in the Brazilian market.
As well as continuing to provide high quality market surveillance solutions, Nasdaq will be upgrading the exchange to the latest version of SMARTS, which includes a broad set of enhancements such as new modules, improved performance and capacity, and new visualisations to aid investigation.
"We
- 19/08/2016
After a drawdown in June due to the market turmoil surrounding the Brexit vote, the UCITS HFS Index bounced back in July, reporting gains of 0.75 per cent.
The broad index started the month with a positive performance of 0.32 per cent after the first full week of trading. Maintaining that momentum, week two brought additional gains of 0.30 per cent.
The UCITS HFS Index slowed down in the second half of the month, but week three and four still saw the increases of 0.11 per cent and 0.03 per cent, respectively. Of all funds tracked 76.23 per cent
- 19/08/2016
- 19/08/2016
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