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US prime brokers are stealing a march on their European peers as European banks grapple with the demands of shoring up their balance sheets to comply with Basel III rules. As Reuters reported 7th October 2015, Goldman Sachs and Morgan Stanley have a 37 per cent market share, up 6 per cent from the end of 2014 (according to data from Preqin). Goldman was servicing 2,240 hedge funds through May 2015, followed by Morgan Stanley with 1,693. JP Morgan rounds out the top three with 1,462 hedge funds.  Credit Suisse Prime Fund Services is the highest ranked European PB, with
in association with HRH The Duke of Cambridge’s ongoing patronage of non-profit organisation’s philanthropic initiatives. SkillForce is a national education and veterans charity dedicated to helping young people flourish through motivational mentoring and education programmes for five- to nineteen-year-olds. Their mission is to help young people develop the skills they need to succeed in education, work and life, drawing upon the military experience and values of ex-services personnel.   100WHF has a strong track record of supporting charities and has raised more than USD38 million (gross total) for philanthropic causes in the areas of women’s and family health, education and
The hedge fund industry produced an aggregate return of -0.26 per cent in November, bringing YTD returns deeper into negative territory for 2015, -1.21 per cent, according to eVestment’s latest hedge fund performance review. The industry’s last annual decline was 2011 when average returns were -4.99 per cent and the S&P rose +.11 per cent.   Despite overall industry returns being negative in 2015, the distribution of returns across funds is very slightly in favour of positive performance (50.2 per cent positive, 49.8 per cent negative). The average positive return is 7.28 per cent and the average negative return is
Taurus Administration Services has acquired Pacific Fund Systems’ PFS-PAXUS integrated share registry/fund accounting platform to support a push into the European market, which it expects to grow as a result of the Alternative Investment Fund Managers Directive. Taurus will target start-up and sub-USD100 million funds often regarded as being too small by the larger fund administrators. Taurus has been appointed administrator to three alternative investment funds and has seen its assets under administration grow over the last two years from USD80 million to USD192 million in 11 funds. It has offices in Madrid, Geneva and the Cayman Islands and is
Global advisory, corporate development and executive search firm Jensen Partners has aligned with Context Capital Partners LP to launch Context Jensen Partners. The new company will strategically address the obstacles faced by alternative asset managers who are focused on growing assets in an increasingly competitive fundraising environment.   Context Capital Partners (Context), a seeding firm focused on alternative investment strategies, is now a stakeholder in Jensen Partners (Jensen), which combines a customised, scientific approach with the proprietary 360° Investor Referencing Methodology and advanced behavioural analytics to source and recruit leading capital-raising executives and provide strategic consulting services for clients. This
The debate over MiFID II has sparked intense speculation about the future of the European equity research business. Much less attention has been paid to the potentially profound impacts of the regulatory proposals on the European cash equity trading business. A new report from Greenwich Associates, European Equity Trading and the Consequences of Regulation, reveals that European buy-side traders and portfolio managers believe MiFID II provisions could increase trade execution costs and reduce market liquidity – particularly in small cap stocks.   The report shows that the more than EUR3.4 billion in commission payments earned by brokerage firms on institutional
An increasingly diverse mix of hedge funds, sovereign wealth funds and entrepreneurs are behind a wave of new business models targeting a share of the fast growing multi-billion dollar intellectual property (IP) industry, according to IP data provider IAM. Revenue just from the licensing and royalties from intellectual property such as patents or trademarks has ballooned from USD27billion in 1990 to break through USD180billion in 2009 (source: WIPO).   IAM explains that participants in the intellectual property markets no longer just consist of Non Practicing Entities (or patent “trolls”) but is increasingly made up of investment funds, banks and litigation
ALFI has welcomed the publication of a draft law relating to a new Luxembourg alternative fund structure, the Reserved Alternative Investment Fund (RAIF). The bill will run through the usual legislative process and is therefore still subject to change. A final text of the law might be adopted in the second quarter of 2016.   Denise Voss (pictured), Chairman of ALFI, says: “The future Luxembourg RAIF Law will provide an additional – complementary – alternative investment fund regime which is similar to both the Specialised Investment Fund and SICAR regimes.”   Currently Luxembourg rules not only require the Luxembourg Alternative
Global market conditions were broadly supportive in November, with risk assets moving higher.
During a period in which most asset classes sold off ferociously and fixed income provided no downside protection, the Lyxor Hedge Fund Index was down only 0.8 per cent. This highlights the resilience of this asset class to wide market movements. 

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