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Foreside Financial Group, a provider of distribution and compliance services for open- and closed-end funds, exchange traded products, commodity pools, private placements, investment advisers and registered broker-dealers, has acquired Beacon Hill Fund Services,  Financial terms of the transaction, which is expected to close on 31 July, have not been disclosed.  In operation since 2008, Beacon Hill provides a variety of business management services to both US and non-US investment managers. With a staff of 22 professionals, Beacon Hill provides services to 19 clients with 144 funds and USD28.6 billion in assets. “The acquisition of Beacon Hill brings together some of
The vote to leave the EU is the start, not the end, of a process that could take up to a decade or more, says Marie Owens Thomsen (pictured), Chief Economist at Indosuez Wealth Management, Credit Agricole’s private banking arm. “In addition to the detrimental effects of prolonged uncertainty and the opportunity cost of spending time and money on these negotiations instead of more pro-growth policies, one can expect the UK financial industry, car manufacturers, and farmers to be particularly hurt, at least until a new framework emerges for the UK, in 2019 at best,” she says. “The EU and all
“Amid the hyperbole and today’s vertiginous fall, Sterling’s one saving grace is that the Euro is likely to be hit almost as hard by a Brexit,” says David Lamb, head of dealing at FEXCO Corporate Payments. “So the Pound’s collapse relative to the single currency has been mitigated as both race to the bottom. “But against the Dollar, no quarter has been given. The Pound’s early plunge today was magnified by its late night rally – which saw it rise to USD1.50 as the global markets bet on a Remain win. “The painful question now is how far, and for how
Keith Grindlay of Macro Thoughts comments that as if 1.27 million more UK voters voting to leave Europe than to stay wasn’t shock enough, David Cameron has proven that UK unemployment would go higher with a vote to leave, by increasing unemployment by one, announcing his resignation as Prime Minister by October.  This should send shock waves throughout Europe and European governments, further encouraging the growing movement in Europe for similar referenda. Over the next 18 months countries responsible for 90 per cent of Europe’s GDP will hold elections: Spain this weekend, Germany and France next year.  Japan will hold elections
Advisors Asset Management (AAM) is to become the distributor for several Rothschild Asset Management separately managed accounts (SMAs), including Rothschild's US Large-Cap Core, US Large-Cap Value and US Balanced strategies. This agreement expands the scope of the existing partnership between AAM and Rothschild. In March, AAM became the sub-advisor for the fixed-income component of Rothschild's US Balanced SMA strategies, and agreed to perform the administrative and back-office functions for these portfolios. The prior accord also enabled AAM to distribute Rothschild's US Balanced SMAs. The new agreement will expand AAM's distribution and operations functions to include Rothschild's US Large-Cap Core and
Irish Funds, the representative body for the cross-border investment funds industry in Ireland, kicked off its annual funds conference on Thursday, celebrating 25 years of the Association. Having already put Ireland on the map as a global centre of excellence for funds, the conference’s programme was designed to look at the opportunities which the industry should be embracing in the next 25 years. Hundreds of global CEOs and industry executives are being joined in Dublin today by European policy makers and regulators to explore and debate the key issues of the industry.   This year’s conference was opened by the
UMB Fund Services (UMBFS) now offers electronic subscription agreements to alternative investment clients, allowing fund investors to electronically complete, sign and submit subscription agreements for investments in interests of the fund.  Transitioning the manual paper-based process to an automated online process will be of greatest value to growing alternative funds who are currently adding investors. The service allows investors access to documents directly from the fund manager’s website, accelerating speed to assets under management and improving the investor experience.  “Today’s technology allows us to obtain completed investment documents in hours instead of days or weeks. More importantly, the investor experience
Wolverine Trading UK Ltd (Wolverine’ has become a Member on TOM MTF as of 23 June 2016 and will start quoting as Market Maker in options. TOM MTF has accepted a number of new members recently and expects more in 2016. This momentum is a recognition of the significant liquidity TOM offers in Dutch options. TOM continues to connect international trading houses, diversifying and solidifying the quality of its order books.   Willem Meijer, CEO of TOM (The Order Machine), says: "Welcoming a trading house like Wolverine, means yet another established market maker with over 20 years of trading experience
State Street Global Advisors has won the sixth annual Funds Industry Football Charity Shield five-a-side tournament beating Smith & Williamson 2-1 in the final game held on Thursday in Shoreditch, London.  Hosted by Calastone, the global funds transaction network, the tournament has raised over GBP60,000 since its inception and this year will add a fantastic GBP12,500 to that total. In 2016, teams from leading fund management firms played 22 games of football to raise money for Make-A-Wish UK, the charity that grants wishes of children and young people living with life-threatening illnesses. State Street won this year’s tournament against 24
S3 Partners has launched its Blacklight Apps Crowding Kit (Black App) on the Bloomberg APP Portal at. The Black App uses S3 Blacklight financing rate data, which is already available on the Bloomberg Professional service, to deliver real-time analytics on crowded trades.  By connecting trading and financing market activities, the Black App provides Bloomberg Professional service subscribers with the ability to accurately identify short-selling events and a security’s borrow velocity relative to market float, real- time short interest, financing cost and supply capacity. The Black App also automates a traditionally labor-intensive process, streamlining the financing workflow of those borrowing or

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