Digital Assets Report

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Farallon Capital Management has completed fundraising for Farallon Asia Special Situations III and Farallon Asia Special Situations Master III, an Asia and Latin America focused private investment pool, with aggregate commitments of USD1.12 billion. "We are very excited to begin investing FASS III and want to thank all of our investors for their continued commitment to Farallon. We take pride in providing flexible and strategic capital solutions to entrepreneurs, key families and business groups, even in a challenging business environment. We look forward to partnering with them to capitalise on the robust opportunity set that we see in Asia," says
Neptune, the open standards network for pre-trade indications in bond markets, has formed a new company, Neptune Networks Ltd, to run the utility.  The board will be comprised of members of the banks and asset managers involved in the collaboration for the past 18 months.   Neptune says it recognises the importance of joint buy-side and sell-side governance in order to best meet the challenges in the industry.   17 dealers are currently connected to the system distributing over USD70 billion of gross notional and 13,000 structured pre-trade indications across 8,500 ISINs to their clients. The network is continuing to grow,
HIG Bayside Capital, a credit affiliate of HIG Capital, has held the first close of IDeA CCR (Corporate Credit Recovery) I Fund, an investment platform managed by IDeA Capital Funds SGR (IDeA), at EUR260 million. The fund, which comprises two sub-funds – a Credit Fund and a New Money Fund – will invest in Italian mid-sized enterprises in distressed situations, aiming to help them restructure and turnaround, and consequently help banks maximise the recovery of their original loans.   The Credit Fund consists of the loans in eight companies contributed by seven leading banks in Italy: UniCredit, BNL/BNP Paribas, Banca
Apex Fund Services has seen its biggest growth month in the firm’s history by taking on USD2.7 billion worth of new business in June 2016, 60 per cent of which was converted from other fund administrators. The Apex Group added 36 funds to its client base in during the month with an average fund size of USD75 million. This equates to a 7 per cent increase in assets under administration.   Peter Hughes (pictured), founder and chief executive officer, Apex Fund Services, says: “We’ve faced a tough time as an industry over the past twelve months, with the last month
Northern Trust has enhanced its peer universe comparison capabilities with the addition of intelligence derived from eVestment universe data. The integration of eVestment’s universes expands clients’ access to a global array of more than 500 manager peer universes across six asset classes and 74 countries.   Through Northern Trust’s Investment Risk and Analytical Services (IRAS) peer universe comparison capabilities, clients can compare the performance of investment managers’ decile ranking against a broad universe of manager mandates ranging from public to private markets. By providing access to proprietary and third-party universes, Northern Trust offers comparisons at the investment plan, programme and
The UK financial services sector’s infrastructure is chronically unprepared to deal with the regulatory changes that will come as a result of the country leaving the EU, according to financial services management and technology consultancy Brickendon. Compliance and regulatory costs have increased dramatically since the financial crisis, in an effort to avoid what can be multibillion-dollar fines – in some cases resulting in an additional USD4 billion expenditure each year.   With the regulatory burden still increasing – the Fundamental Review of the Trading Book (FRTB) is expected to increase costs by a further 200 per cent to 400 per
The USD1bn Club, the group of institutional investors which has committed more than USD1 billion to hedge funds, has seen a net growth of 11 participants since 2015, and now includes 238 members, according to Preqin. Forty institutions have joined this group of the largest hedge fund investors, while 29 have fallen out of the USD1bn Club after reducing their exposure to the industry.   Although investors in the USD1bn Club account for just 5 per cent of all active hedge fund investors, they represent just under a quarter (24 per cent) of the total USD3.13 trillion AUM held by
Catella has confirmed media reports that four fund managers from Catella Fondförvaltning have chosen to leave the company.  Erik Kjellgren, head of Catella’s Swedish fund management operations, says: “We regret that these individuals have chosen to leave Catella. Catella has the expertise and resources necessary to ensure the management of our funds in both the short term and long term. Over the past year we have recruited senior people with extensive experience in active management of both equity funds and hedge funds, in order to reduce dependence of the fund management on individuals.   “The Catella Hedgefond fund is managed
Investors allocated a net USD6.57 billion into hedge funds in May, according to eVestment’s latest Hedge Fund Industry Asset Flows Report. The pre-Brexit vote inflow, biased toward US-domiciled funds over Europe and Asia, followed a very slight inflow in April. This two-month string of positive net investor interest, the industry’s third in the last four months, helped to lift total industry AUM back over the USD3 trillion mark for the first time in 2016.   The report reveals that commodity strategies continue to be in favour, with USD1.2 billion added in May. Macro fund flows shifted firmly positive, multi-strategy fund flows rebounded and investor
Cloud technology – The scale of a manager's IT infrastructure will largely depend on the type of trading strategy. A quantitative market neutral statistical arbitrage fund is likely going to spend more capital on front-office portfolio management, risk management systems and server storage capabilities than a specialist credit strategy that trades infrequently.  Either way, investors will expect the manager to have a well-oiled machine in place: well-established workflow processes, operational controls, and, as far as possible, front- to back-office system integration.  One of the most popular routes to establishing a sound technology infrastructure is to appoint an outsourced cloud provider. It

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