Latest News
GAM is to launch a new merger arbitrage strategy in July, subject to regulatory approval, which will focus on inefficiencies in the market prices of companies that may occur after the announcement of corporate events such as mergers, acquisitions or spin-offs.
Arbitrage opportunities may also arise after company-specific news, such as the inclusion of its shares in major market indices. Events like these offer the potential for risk arbitrage, and the strategy aims to exploit a set of low-risk opportunities to generate alpha.
Risk management is embedded in the portfolio construction by keeping a suitable level of diversification across
- 06/07/2016
- 06/07/2016
The long-term impact of the historic decision by the United Kingdom to leave the European Union on 23 June will take investors and analysts time to fully quantify but there is no question that over the short-term, ‘Brexit’ is going to create ripples of volatility.
The sterling, which many anticipated would bounce on the news of a Remain vote, slumped to a 31-year low against the US dollar, falling as low as USD1.3228.
An estimated USD3trillion was wiped off global market indices over the course of two days, leading the FTSE 100 to fall as much as 8.7 per cent
- 05/07/2016
- 05/07/2016
Colt PrizmNet, the financial extranet developed by Colt, has continued to grow its footprint in Asia by connecting to Equinix’s International Business Exchange (IBX) data centres in Hong Kong (HK1) and Singapore (SG1).
Colt can now interconnect with key FX centres, both globally and across Asia, including direct connectivity to Equinix’s TY3 data centre in Tokyo, the largest FX trading facility in Asia, as well as Sydney (SY2).
The move doubles the size of Colt PrizmNet’s existing footprint in Hong Kong and Singapore by making it available to financial companies located in proximity to local exchanges, in addition
- 05/07/2016
Registered investment advisory firm SJL Capital has launched its maiden hedge fund, SJL MarketDNA Hedge Fund LP, which began trading in May and has a live track record.
It is currently domiciled in California.
SJL Capital’s portfolio manager Matthew Rossi (pictured) says the fund employs an equity long/short strategy that takes advantage of opportunities and events to managing its hedge fund with the objective of providing above average returns with low volatility.
SJL Capital sees its fund as "having an advantage over other hedge funds by applying the proprietary quant algorithm called MarketDNA."
The algorithm has 20
- 05/07/2016
- 05/07/2016
FactSet Research Systems has completed the sale of its market research business, consisting of Market Metrics and Matrix Solutions, to Asset International, a portfolio company of Genstar Capital.
Upon completion of the sale on 1 July 2016, FactSet received USD165 million in cash, less certain adjustments including a customary working capital adjustment.
Upon the achievement of certain growth targets over the next two years by the market research business that has been sold, FactSet would be entitled to an additional earn-out of USD10 million.
- 05/07/2016
City Financial Investment Company has acquired management of the Convex Strategy, with current assets of USD180 million, from Fortress Investment Group in Asia.
The strategy will be managed by chief investment officer David Dredge and the investment team who join City Financial’s regulated entity in Singapore and managing director Julian Ings-Chambers in London.
The acquisition further expands City Financial’s Asian business alongside the Asian macro team based in Hong Kong and the Japanese equities team.
David Dredge has 25 years of Asian investment experience. Prior to joining Fortress in 2011, he was a managing director and portfolio manager
- 05/07/2016
- 05/07/2016
Societe Generale Prime Services reports that June was a strong month for most CTA strategies, with the SG CTA Index posting the largest monthly gain since November 2014, and 90 per cent of the constituent programs contributing positive returns.
All CTA indices have finished positively in the month, and complete the first half of the year in positive territory, led by short-term strategies which have returned +5.80 per cent year to date.
The firm writes that performance figures announced last week showed that CTAs weathered Britain’s EU referendum result well, despite mid-month market uncertainty, having benefited from diversification across
- 05/07/2016
Christopher Meyers (pictured), head UK & NL institutional trading at Flow Traders, reports that over the last 18 months, the firm has seen an increase in wealth and asset managers in the UK using ETFs.
Flow Traders is a global principal trading firm, a technology-enabled liquidity provider specialising in ETPs and ETFs. The firm continuously provides liquidity to the major financial markets, quoting prices on more than 95 exchanges and providing bid and ask prices off-exchange to institutional counterparties on a request-for-quote basis.
The recent surge in interest in ETFs by wealth managers is partly due to the ETF providers,
- 05/07/2016
- 05/07/2016
Townsend Lansing (pictured), head of ETCs, ETF Securities reports that the range of investors using exchange traded commodities (ETCs) is broadening to include retail investors. "Interestingly enough in the early days we probably saw predominantly institutional investors using them the most," he says.
"Since 2012, we have seen more and more retail usage, which we measure via trade size. We assume that primary market trades less than USD1 million are direct retail or retail intermediaries. Trades of that size have seen a significant increase, which we take as a representation of increasing interest from this demographic."
Lansing believes that much
- 05/07/2016
- 05/07/2016
The incredible level of market volatility arising from the uncertainty over the UK's referendum vote has caused a great deal of de-risking on the part of investors over recent months.
Chanchal Samadder (pictured), Head of UK and Ireland ETF sales at Lyxor Asset Management says: "The flows we saw last year and at the beginning of this year were into risk assets, equities across the board geographically but now we are experiencing a reversal towards a risk-off downside protection type of environment."
Risk-off has been dominated by fixed income, with investment grade credit in the US proving itself popular with
- 05/07/2016
- 05/07/2016
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