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Preserver Partners has launched a liquid alternatives mutual fund – the Preserver Alternative Opportunities Fund – to provide investors with access to multiple asset classes and strategies in a single diversified portfolio, while providing daily liquidity and transparency.
The new fund trades under the symbols PAOIX and PAORX.
Liquid alternative mutual funds are one of the fastest growing segments in the mutual fund industry as investors and financial advisors seek to hedge downside risk, protect principal and manage volatility. A 2013-2014 Alternative Investment Survey sponsored by McKinsey & Company reports that alternatives represent 12 per cent of mutual fund
- 03/03/2016
Cowen Group has appointed Fred S Fraenkel as a Vice Chairman.
Peter A Cohen, Chairman and Chief Executive Officer of Cowen, says: “Fred is a highly accomplished leader on Wall Street with an impressive track record as an investor, strategist and advisor, among other roles, at many well-respected organisations. With his extensive experience, he will provide relevant and valuable perspectives on our business. I have known Fred for many years. I could not be more pleased to have someone of his caliber and character join our organisation.”
Fraenkel says: “My career has been about harnessing the intellectual capital of
- 03/03/2016
- 03/03/2016
Tradeweb Markets, an operator of global fixed income and derivatives marketplaces, has acquired CodeStreet, a specialist in data-driven trade identification and workflow management software development.
The transaction will leverage the technology and expertise of both firms to enhance corporate bond trading on a global scale, delivering innovative tools that help identify likely counterparties and improve quality of execution with greater information protection.
The acquisition of CodeStreet enables Tradeweb to pair effective trade execution and processing with better trade identification tools for the buy-side and enhanced workflow management for liquidity providers, which will enable buy-side investors to better source liquidity.
- 03/03/2016
- 03/03/2016
Opus Fund Services has been named Best Global Hedge Fund Administrator at the 2016 Hedgeweek Awards. The annual Hedgeweek ceremony recognises and rewards hedge fund industry participants, including funds and service providers for their success and contributions in their respective areas.
The winners were announced in a ceremony which took place on 26 February at the Reform Club in London.
Paul Barlass, Head of Risk at Opus Fund Services, says: “We continue to grow methodically, globally and strategically within the space and have built a strong platform for clients of all sizes.”
Also commenting on the award, Jorge Hendrickson
- 03/03/2016
Newly launched hedge funds continued to entice investors with management fee discounts while simultaneously tightening restrictions on redemptions, according to The Seward & Kissel 2015 New Hedge Fund Study.
The 2015 findings reflect a give-and-take between hedge funds and investors. On the one hand, they show the continuation of a trend in which hedge funds are willing to incentivise investors to join their founders classes, offering discounted fees, and sometimes tiered management fees that step down as fund assets grow. On the other hand, hedge funds further tightened their redemption rules.
In 2015, 35 per cent of funds using equity-based
- 03/03/2016
February average daily volume (ADV) at the CBOE Futures Exchange was up 23 per cent from February 2015, but down 25 per cent from January 2016. Exchange-wide total volume also rose in February compared with a year ago, up 29 per cent compared with February 2015, but down 21 per cent from January 2016.
Total February volume in futures on the CBOE Volatility Index (VIX Index) was 4.1 million contracts, up 29 per cent from February 2015, but down 21 per cent from January 2016. February VIX futures' ADV was 204,609 contracts, up 23 per cent from a year ago and
- 02/03/2016
NewAlpha AM, a French global emerging manager acceleration specialist, has appointed Driss Lamrani (pictured) as Global Strategist, based in Paris.
Lamrani has close to fifteen years of professional experience in the financial sector. Formerly as advisor and deputy to GLG Partners Chief Investment Strategist, Driss forecasted monetary policy, political and geopolitical events and designed investment portfolios for their Global Macro and Emerging Markets Funds. A practiced speaker and respected strategist, Driss Lamrani has been a regular guest speaker at prestigious public and private conferences, working alongside current and former central bankers and politicians to build investment scenarios and forecasts. Driss
- 02/03/2016
Looking Glass Investments (LGI), a fixed-income alternative investment firm focused on marketplace lending, has opened a research office in Brunswick, Maine.
Nathan Tefft (pictured), PhD, an economics professor and LGI's Executive Vice President and Chief Economist, leads the new office.
"The founding members of Looking Glass Investments believed from the outset that research would drive our business. With the support of our new Advisory Committee, we are experiencing tremendous growth, and now is the ideal time to open what I believe to be the first-ever research lab for marketplace lending predictive analytics," says Matthew O'Malley, President and Chief Operating
- 02/03/2016
The Russell Group, at Louisville-based wealth management firm Atlas Brown, has recently joined Private Client Services’ (PCS) broker/dealer platform. Founding member of The Russell Group, David Russell (pictured), has been a prominent advisor in the Louisville area for over 30 years.
“We are excited to enhance our local presence by registering with PCS. Not only will this new relationship provide value to our current clients, but will better position us to continue to grow in the area,” Russell says.
“There are so many advantages for an advisory practice to be registered with a local Broker Dealer,” says Ernest Sampson,
- 02/03/2016
Intercontinental Exchange is to acquire Standard & Poor’s Securities Evaluations, Inc. (SPSE), a provider of fixed income evaluated pricing, and Credit Market Analysis (CMA), a provider of independent data for the over-the-counter (OTC) markets from McGraw Hill Financial (MHFI).
When completed, the acquisition will enable ICE to offer customers new data and valuation services. Under the terms of the agreement, ICE can elect to satisfy its payment of the purchase price due at the close of the transaction in either cash or shares of ICE’s common stock. All other terms of the agreement were not disclosed. The transaction is subject
- 02/03/2016
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