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In the fourth quarter of 2015, institutional asset owners gained approximately 2 per cent at the median, according to Northern Trust Universe data. This marked a significant rebound from the median loss of 4.6 per cent recorded in the third quarter.
The Northern Trust Universe tracks the performance of about 300 large US institutional investment plans, with a combined asset value of approximately $899 billion, which subscribe to performance measurement services as part of Northern Trust’s asset servicing offerings.
Public Funds had the best performance in the quarter with a return of 2.7 per cent at the median, while
- 05/02/2016
Bauer, the Italian high-end hotel group, and Blue Skye Investment Group, a special opportunity fund, have completed the reorganisation of Bauer’s EUR110 million debt, through a debt rescheduling and refinancing.
Bauer has employed a new four-year senior secured bond issuance, which includes an additional EUR20 million tranche aimed to finance future investments and developments by the group’s main hotel, the prestigious Bauer Hotel in Venice.
Bauer’s chief executive officer Francesca Bortolotto Possati and Blue Skye’s co-founders Salvatore Cerchione and Gianluca D’Avanzo agreed a debt rescheduling and refinancing with issue of bonds pursuant to article 67 of the Italian bankruptcy
- 05/02/2016
- 05/02/2016
Capita Asset Services is working with Irish fintech start-up, Fund Recs, to automate its cash and portfolio reconciliation process.
The cloud-based software will automatically reconcile broker and custodian data to Capita’s fund accounting system, InvestOne Enterprise. Clients will benefit from enhanced and user friendly reporting.
Paul Burke, senior manager fund accounting, Capita Asset Services, says: “Enhanced reporting will provide our clients with information concerning the cash and portfolio of their funds at a glance and the solution will further aid our Net Asset Value (NAV) process and deliverables. This investment not only prepares us for the reporting requirements of
- 04/02/2016
STOXX Limited has launched the STOXX Low Carbon index family which consist of four sub-families offering varying degrees of carbon exposure enabling market participants to limit the exposure of their portfolios to carbon risk while participating in the low-carbon economic growth.
The STOXX Low Carbon index family is designed to act as an underlying for exchange-traded funds and other investable products, such as structured products and derivatives; and as benchmark for passive and active investment strategies.
“Reducing carbon emissions is a global objective, and market participants look for fully tailored solutions to decarbonise their portfolios to address long-term climate
- 04/02/2016
Investors retreated from equities and turned to safe-haven assets in January as disappointing Chinese and emerging market numbers and weaker US data dominated news flow, according to GAM’s latest hedge fund performance review.
Global equities were down 6.0 per cent, as measured by the MSCI World index, while US Treasuries and investment-grade bonds were up 1.4 per cent, as measured by the Barclays US Aggregate Bond index.
“Global macro and trend following managers weathered January well, with positive aggregate performance,” says Anthony Lawler (pictured), portfolio manager at GAM. “The systematic and trend following traders had a strong January, positioning short
- 04/02/2016
Options has partnered with Observable Networks, a specialist in security analytics, to provide dynamic endpoint modelling for client networks.
Observable’s Dynamic Endpoint Modelling analyses all network endpoint devices in order to help identify early-stage indicators of suspicious behaviour and potential security vulnerabilities.
Observable Networks, which is headquartered in St Louis, Missouri, is an emerging leader of network security technology and advanced threat detection services that identify compromised and misused networked devices currently escaping detection by network security tools. Observable’s endpoint modelling technology includes a cloud-based service platform incorporating automated security analytics and real-time traffic sensors to continuously model all
- 04/02/2016
Matheson has appointed Tara Doyle (pictured) has been appointed as the new Head of the firm’s Asset Management and Investment Funds Group. She succeeds Michael Jackson, who became Managing Partner of Matheson on 1 January 2016.
Doyle has been a partner in the Asset Management and Investment Funds Group for over a decade, advising many of the world's leading financial institutions, investment banks, asset management companies and broker-dealers. Her team is the number one ranked funds law practice in Ireland, acting for 28 per cent of Irish domiciled investment funds by assets under management as at 30 June 2015. A highly regarded
- 04/02/2016
While the rise in swaps clearing in the US is now being mirrored in other regions in advance of regulatory implementation, market share and product scope at central counterparty clearinghouses (CCPs) is also shifting.
CCPs have largely continued to dominate in their traditional areas, but there is evidence that the variations noted in market share have for the first time been partly driven by cost considerations.
In TABB Group’s latest research, “Global Clearing: Navigating Liquidity and Pricing Pools,” report author Radi Khasawneh reviews the shifts major clearinghouses are seeing in market share and how cost analysis on clearing has
- 04/02/2016
Intercontinental Exchange’s (ICE) subsidiary, Interactive Data, is to work with AllianceBernstein (AB) to help the firm evaluate its trade execution quality and perform transaction cost analysis (TCA).
The work will be done across various mutual funds and separately managed portfolios using Interactive Data’s Best Execution (Best Ex) service.
Interactive Data’s Best Ex service leverages its Continuous Evaluated Fixed-Income Pricing to power TCA for fixed-income security trades. The tool assigns a score to trades based on measurement of the execution quality of a trade relative to other comparable trades within a selected universe.
“As a global leader in fixed-income active management,
- 04/02/2016
Hedge fund firm BlueBay Asset Management has adopted Markit’s Know Your Third Party (KY3P) platform.
KY3P is designed to allow organisations to simplify and standardise third party risk management processes with a focus on vendor due diligence and ongoing monitoring. Through the centralised data hub, banks, buyside firms and third parties can remove duplicative processes, manage due diligence information and effectively manage and respond to industry events such as cybersecurity threats.
“Conducting due diligence and third party risk management across all of our current third parties is extremely resource and time intensive,” says Will Manfield, head of operational risk
- 04/02/2016
- 04/02/2016
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