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The proposed cooperation between the Austrian Central European Gas Hub (CEGH) and the Paris-based Powernext has now officially been approved by the Austrian and German competition authorities.
Austrian CEGH Gas Exchange spot and futures contracts will now be operated on the PEGAS platform under the Powernext rulebook and exchange license. The migration of CEGH products to the PEGAS platform will be carried out by the end of November 2016. In addition, the agreement foresees the joint development of the Austrian as well as the Central and Eastern European (CEE) gas markets.
Gottfried Steiner (pictured), CEO of Central European Gas Hub
- 04/08/2016
ENSO Financial Analytics (ENSO), a portfolio finance and treasury solution for hedge funds, has partnered with EBS Treasury, an ICAP owned Money Market Fund (MMF) platform, to provide cash and collateral movement workflows to ENSO clients.
EBS Treasury is powered via Swift Messaging, and by connecting the two platforms, ENSO clients will be able to make money market sweeps and cash movements through EBS Treasury and further optimize counterparty relationships.
“Our focus at ENSO has been to develop an end-to-end solution that connects customers with their data, opportunities, and workflow. We are excited to partner with EBS Treasury and take
- 04/08/2016
AMP Capital and BetaShares have launched their third active exchange traded managed fund (ETMF). The AMP Capital Dynamic Markets Fund (Hedge Fund) (DMKT) is the first global multiasset fund trading on the Australian Securities Exchange (ASX).
The Dynamic Markets Fund was established in 2011 by AMP Capital Head of Dynamic Markets Nader Naeimi and AMP Capital Head of Investment Strategy and Chief Economist Shane Oliver to meet the needs of investors concerned about achieving their investment goals in the face of increasing market volatility.
DMKT is the ASX-traded version of the existing unlisted AMP Capital managed fund, which has raised more than AUD1.2 billion from
- 04/08/2016
SimCorp has released version 6.0 of its integrated investment management solution, SimCorp Dimension. The new release, which is the second of this year’s two releases, introduces a number of new modules and enhancements across front, middle and back office.
A new module, ‘General Reconciliation – Static Data’ adds to the recently launched Reconciliation Manager, which was introduced with Release 5.9 as a central hub for all reconciliation processes with full integration to the system’s IBOR (Investment Book of Record). The new module facilitates the reconciliation of static data, for example the maturity date of a bond or the expected dividend on
- 04/08/2016
Schonfeld Strategic Advisors has expanded its exposure to quantitative trading with its commitment to Masa Capital, a newly-established investment adviser, run by quant portfolio manager Eric Tavel.
Tavel’s expertise lies in the development of quantitative trading strategies within a diverse set of asset classes, including futures and currencies. Schonfeld will support Masa Capital by investing capital as well as assisting with infrastructure and recruitment of personnel.
Tavel spent the last five years as the Head of Quantitative Trading for RBC’s proprietary trading division, known as GAT. Prior to RBC, he worked for 14 years at Goldman Sachs Asset Management as
- 04/08/2016
Franklin Templeton Investments has launched Franklin K2 Global Macro Opportunities Fund for US investors, a multi-manager fund that invests in a variety of global macro strategies sub-advised by institutional-quality hedge strategy managers.
Global macro hedge strategies generally have the widest mandate of all hedge strategies, as managers may take positions across the asset classes of global equities, interest rates, currencies or commodities.
"Against the backdrop of increased global macroeconomic and political uncertainty, many US investors are potentially taking on more equity risk than their goals would dictate, and may be open to looking for new ways to diversify their investment
- 04/08/2016
Investors redeemed a net USD20.70 billion from hedge funds in June, bringing Q2 net flows to negative USD10.68 billion and H1 2016 net flows to negative USD27.95 billion, according to eVestment’s latest Hedge Fund Industry Asset Flow Report.
As a result of the redemptions, the largest June since eVestment began tracking monthly flows in 2009, global hedge fund assets dropped below USD3 trillion.
eVestments says: “while there are exceptions, investors are clearly dissatisfied not only with 2015 returns, but also with performance from portions of the industry in 2016. The result of the Brexit vote, and its impact on returns
- 04/08/2016
Preston Hollow Capital (PHC), an independent specialty finance company, has hired municipal finance industry professionals Curtis Erickson, Peter Bianchini and Richard Akulich to form PHC’s Capital Markets Group.
“This is an exciting milestone in establishing Preston Hollow Capital as a leading solution provider in municipal finance,” says Jim Thompson (pictured), PHC’s Chairman and CEO. “Curtis is one of the most respected professionals in the municipal capital markets, and he brings an accomplished and well-known team in Peter and Richard. When coupled with PHC’s recent increase in its permanent equity capital to USD625 million, our new Capital Markets Group will enable
- 03/08/2016
Corporate credit specialist Muzinich & Co has added to its UK private debt team with the recruitment of Grant Davidson (pictured) as Director.
Davidson joins the firm from Investec where he was Senior Origination Director for growth and acquisition finance, responsible for the sourcing and execution of deals for UK mid-market businesses with EBITDAs of up to GBP15 million.
Davidson has also spent time in the industry as a divisional CFO for a private equity backed company and worked for eight years at Lyceum Capital leading equity investments in the UK lower mid-market.
Muzinich Co-Head of UK Private Debt Marc Shirman says: “Our private
- 03/08/2016
Sterling and euro prime money market fund (MMF) assets will increase in the coming months amid post-Brexit uncertainty despite record low yields, says Moody's Investors Service.
In parallel, US prime funds are experiencing a spike in outflows ahead of October's regulatory changes.
"Uncertainties around Brexit and the lack of comparable investment alternatives have kept investors in money market funds. Lower investor confidence and higher risk aversion could cause corporate investments to be postponed, leading to inflows into low-risk, highly liquid assets such as MMFs," says Vanessa Robert, Senior Credit Officer at Moody's.
Despite the drop in MMF yields, Moody's says
- 03/08/2016
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