Digital Assets Report

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Investors redeemed a net USD20.70 billion from hedge funds in June, bringing second quarter net flows to negative USD10.68 billion and first half net flows to negative USD27.95 billion, according to eVestment’s latest Hedge Fund Industry Asset Flows Report. The redemptions saw global hedge fund assets drop below USD3 trillion again to USD2.99 trillion.   June redemptions were the largest June since eVestment began tracking monthly flows in 2009. Q2 outflows were not near historic, but were the industry’s third straight quarter of redemptions, which has not occurred since Q2 2009 (last of four quarters of redemptions). The first half
Jupiter has appointed Magnus Spence as head of investments, alternatives, responsible for developing and expanding Jupiter’s capability in this asset class. Spence, who joins on 30 August 2016, will focus initially on the current range of Jupiter long/short equity UCITS products: Sicav funds Europa and Global Absolute Return, and the Jupiter Absolute Return unit trust.   In the medium term, Spence’s focus will be on broadening Jupiter’s alternatives product range across asset class, region and country. He will report into Stephen Pearson, chief investment officer, and work closely with James Clunie, head of strategy, absolute return as well as the
Alpima, a London-based advisory firm serving professional and institutional clients, has selected SS&C’s Advent Portfolio Exchange (APX) and Moxy to support its digital advisory platform. It offers the ability to assemble and execute sophisticated investment strategies simply, quickly and cost-effectively.   After thorough analysis, SS&C was selected as the preferred partner for its reputation in the marketplace, engagement in the industry, and breadth of standard interconnectivity.   APX and Moxy were selected for the high-quality equity and multi-asset investment strategies the solutions support as well as the audit and accountability functionality.   "The digital transformation of money management is real.
Northern Trust, one of the world’s largest fund administrators, is to implement the Settlement Messaging Service of GlobalCollateral, a joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC). The adoption of the service will streamline Northern Trust’s margin call process, increase transparency through automated collateral settlement tracking, enhance client service and improve custodian communications.    GlobalCollateral’s Settlement Messaging and Tracking Service, powered by Margin Transit Utility technology, is currently ready for client on-boarding and is anticipated to go live with client collateral movements during the first half of 2017.   It will provide straight-through processing to the settlement
Nasdaq Nordic is planning to make changes to the Alternative Investment Funds market on Nasdaq Copenhagen. The changes include renaming the current market segment OMX CPH Other Collective Investments and adding two new instrument subtypes, AIF and Capital Associations.   In addition, Turnover Lists Foreign funds – indicativeNAV and Other Collective Investment Schemes will be renamed. Related List population Other Collective Inv.DKK will also be renamed and an additional List Population created.     The AIF changes are planned for INET and GCF production as of 5 September 2016 and testing will be available in INET Test (NTF) and GCF
Backstop Solutions Group, a provider of cloud-based solutions for hedge funds, funds of funds, pensions, endowments, private equity firms, consultants and family offices, has expanded into the Asia Pacific region with the opening of its sixth office and the hiring of seasoned industry professional Steve Au (pictured) as director of institutional sales – APAC. Au brings more than 10 years of multicultural sales and management experience to Backstop, having a deep understanding of alternative investments, hedge fund and private equity technology and operational requirements. He previously spent time in senior sales and management positions for Charles River Development and Eze
Man Group, the largest listed hedge fund group in the world, has published interim results to end June 2016 that show that funds under management are down from the end December figure of USD78.7 billion to USD76.4 billion.  Net inflows in the second half were USD1.0 billion, compared with the same period in 2015’s which saw net outflows of USD2.6 billion. Gross sales were USD9.8 billion against the 2015 figure of USD10.5 billion, while redemptions were down, sitting at USD8.8 billion, against a figure of USD13.1 billion in the first half of 2015.   The adjusted profit before tax was
Assured Guaranty has appointed David A Buzen as senior managing director of its newly formed alternative investments group. Buzen was previously president and chief executive officer of CIFG Holding.   Additionally, Stan Cotek, formerly treasurer and managing director of finance and IT systems at CIFG, has joined the alternative strategies group as managing director, and Robert M Forant, formerly chief operating officer of AIG Global Risk Solutions & Multinational, has joined as director.   “We have known and worked with Dave Buzen for many years and seen his leadership ability in a variety of financial settings in and out of
Maples Fund Services has appointed James Perry as head of institutional investor solutions, effective immediately. In this role, Perry will be responsible for further shaping the firm’s offerings and enhancing its service delivery to institutional investors.   Perry brings more than 20 years of investment management experience, the past 10 serving in senior investment roles overseeing portfolios of public assets in California and Texas.   Previously he served as chief investment officer of the Dallas Police and Fire Pension System.
Hedge fund and private equity managers are split on whether considering environmental, social and governance (ESG) is beneficial to their businesses, according to a survey by boutique asset manager Unigestion. The survey suggests ESG is growing in importance for hedge funds with 53 per cent of managers saying they currently have ‘no interest’ compared with 60 per cent who 12 months ago said they were ‘reluctant’ to consider ESG as part of their strategies. In addition, some 30 per cent of hedge fund managers surveyed are now actively incorporating ESG into their strategies.   Whilst there were a number of

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