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Investment funds lawyer Christopher Knight (pictured) has joined Akin Gump as counsel in its investment management practice in the Hong Kong office.
He joins the firm from the Hong Kong office of DLA Piper.
Knight has extensive experience advising financial institutions, investment banks, asset managers, sponsors and investors on the establishment and regulation of hedge funds, regulated funds and private equity funds. He has also advised on Shari’ah compliant investment fund structures.
“Chris’ arrival is a real boost to our investment funds team in Asia,” says Anne-Marie Godfrey, a partner in Akin Gump’s investment management practice in Hong
- 27/07/2016
Tages Capital, in partnership with Anavon Capital, has launched the Tages International SICAV – Anavon Global Equity Long/Short UCITS Fund, the second sub-fund of Tages International Funds SICAV.
The UCITS-compliant umbrella fund structure is domiciled in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
Anavon is an equity manager with a five-year track record in its global long/short equity strategy. The fund is launching with USD28 million of institutional capital with follow-on commitments in excess of USD30 million.
Justin Denham, chief operating officer of Anavon Capital, says: “Anavon is delighted with this partnership to offer
- 27/07/2016
UBS Asset Management has appointed Hayden Briscoe (pictured) as head of fixed income, Asia Pacific, with immediate effect.
Briscoe joins UBS from Alliance Bernstein, bringing a wealth of experience with more than 24 years of fixed income and currency experience.
In this new role, based in Hong Kong, he will oversee all fixed income portfolio management and business activities in the region.
"UBS Group has a strong presence and reputation in Asia and our Asset Management business has significant ambitions in key markets across the region,” says John Dugenske, global head of fixed income, UBS Asset Management. “I
- 27/07/2016
Elevate, a provider of online credit solutions for non-prime consumers, has increased its credit facility with Victory Park Capital (VPC), a privately held registered investment adviser dedicated to alternative investing, by an additional USD100 million to a total of USD545 million.
The company will use the additional capital to support the rapid growth of its credit products in the US and UK and for further investment in its suite of online credit solutions.
“Elevate has become a clear leader in this space and we are excited to support their growth,” says Tom Welch (pictured), principal at Victory Park Capital.
- 27/07/2016
Teton Advisors has launched the TETON Convertible Securities Fund, which will be managed by the Dinsmore Group investment team.
The Dinsmore Group, Thomas Dinsmore (pictured), Jane O’Keeffe and James Dinsmore, will join Barbara Marcin on the portfolio management team.
The Dinsmore team currently manages USD325 million AUM in convertible securities across three closed end funds: Bancroft Fund, Ellsworth Growth and Income Fund Ltd and The Gabelli Convertible and Income Securities Fund.
Thomas Dinsmore has been an equity analyst and portfolio manager at Dinsmore Capital since 1983 and led the team from 1993 to 2015. He joined Gabelli Funds
- 27/07/2016
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
- 27/07/2016
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
- 27/07/2016
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.
- 26/07/2016
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
- 26/07/2016
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
- 26/07/2016
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