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The Boards of the Neuberger Berman funds, including the closed-end funds, have appointed Admiral James G Stavridis and Deborah C McLean as board members.
Admiral Stavridis is the Dean of the Fletcher School of Law and Diplomacy of Tufts University. He is a retired Admiral of the United States Navy and the former Supreme Allied Commander of NATO.
Ms McLean is associated with a private wealth management group and an angel investing group and is an adjunct professor in finance at Columbia University's School of International and Public Affairs. She previously was a Managing Director at Morgan Stanley, and
- 21/12/2015
The trend towards greater adoption of swing pricing continues, according to the third edition of ALFI’s Swing Pricing Survey which shows both a greater number of participants responding to the survey and a greater number of asset managers that have implemented the mechanism.
Swing pricing, which has been applied in Luxembourg for the past 15 to 20 years, has proven to be an efficient mechanism to protect existing shareholders from dilution associated with shareholder purchases and redemptions as well as an additional tool to help funds manage liquidity risks. This technique is therefore perfectly in line with ALFI’s main objectives to protect
- 21/12/2015
Total hedge fund assets rose USD11.2 billion in November 2015, an increase of 0.36 per cent. Investors flows were very slightly positive during the month with an estimated USD3.2 billion added in November, according to eVestments latest hedge fund flows report.
Performance accounted for an additional USD8.0 billion increase. The combination of asset gains and net investor inflows lifted total industry assets to USD3.094 trillion. For the year, investors have added an estimated USD69.5 billion into the industry.
Overall industry flows were positive approaching year-end despite recent losses in the macro and credit segment having an increasing impact within
- 21/12/2015
- 21/12/2015
Following Financial Conduct Authority (FCA) approval, Lord Livingston of Parkhead has been appointed as a non-executive director of Man Group, effective 1 January 2016.
Lord Livingston will, subject to his reappointment as a director at the Company’s 2016 Annual General Meeting (AGM) in May 2016, succeed Jon Aisbitt as Chairman following the AGM.
Lord Livingston joins Man Group with almost two decades of board level FTSE 100 experience. He has been a serving member of the UK House of Lords since 2013 and was previously Minister of State for Trade and Investment for the UK Government from December 2013
- 21/12/2015
MarketAxess is ending the year on something of a high after reporting a new daily volume record in high-yield (HY) trading of approximately USD1 billion on Friday, 11 December, 2015.
Recent market volatility has also driven an increase in estimated market share for MarketAxess, with over 10 per cent share of TRACE HY volumes on 11 December, compared to an estimated 5.9 per cent share during the third quarter.
“Recent volatility in high-yield markets has prompted investors and dealers to use electronic trading more than ever. Our all-to-all Open Trading technology allows participants on MarketAxess to seamlessly trade with all
- 18/12/2015
Emerald Asset Management and Beltraith Capital, investment holding companies with approximately USD5.8 billion in assets under management, have teamed up to form EmStone Advisers.
The companies say that EmStone combines the experienced portfolio management teams from Beltraith subsidiary StoneRidge PMG Advisers and Emerald subsidiary Emerald Direct Lending Advisers to offer investors enhanced fixed income portfolio management solutions. Both StoneRidge PMG and Emerald Direct Lending also continue to operate independently.
“Our combined team averages over twenty-five years of institutional portfolio management experience with specific expertise tailored to today’s low-yield environment,” says Beltraith CEO Steven L Sanders.
“We are bringing
- 18/12/2015
The Railways Pension Trustee Company (Railpen), the GBP21 billion pension fund for UK rail workers, has been unwinding its exposure to hedge funds. And it’s not the only European private sector pension fund to be doing so, according to Preqin.
Globally, the number of private sector pension funds investing in hedge funds has risen over recent years. These investors have also increased their exposure to hedge funds; the average allocation of private sector pension funds is over 10 per cent as of December 2015. However, over this timeframe the number of European private sector pension funds investing has fallen.
- 18/12/2015
Hedge fund launches and liquidations both increased in Q3 2015, as energy commodities and equities posted sharp declines, and high yield credit spreads began to widen, according to HFR's latest Market Microstructure Report.
Hedge fund liquidations totalled 257 in Q3 2015, up from 200 in the second quarter, and the highest quarterly total since Q1 2014, according to the latest HFR , released today by HFR, while total liquidations in the first three quarters of 2015 stand at 674, up from 661 liquidations during the first three quarters of 2014.
The number of hedge fund launches also rose in Q3 2015
- 18/12/2015
Martin Shkreli, the founder and managing member of hedge funds MSMB Capital Management LP (MSMB Capital) and MSMB Healthcare Management LP (MSMB Healthcare) and former Chief Executive Officer of Retrophin Inc has been charged with fraud.
Evan Greebel, a former partner at the New York office of law firm Katten Muchin Rosenman LLP, who served as outside counsel to Retrophin, has also been charged. Shkreli is charged with securities fraud, securities fraud conspiracy, and wire fraud conspiracy for orchestrating three interrelated schemes: schemes to defraud investors in MSMB Capital and MSMB Healthcare and a scheme to misappropriate Retrophin’s assets. Greebel
- 18/12/2015
Malta has come a long way as a fund jurisdiction since it joined the EU in 2004. Through June 2015, Malta had 146 licenced entities holding Category 1A (advisory), Category 3A and Category 4A licences. In terms of growth trends, one interesting observation is that the number of retirement schemes being established in Malta is on the rise. There are 35 such retirement schemes currently, compared to 11 in 2013. In addition, Malta is home to some 14 retirement scheme administrators, illustrating that the international pensions space is gaining traction.
With respect to the fund management operational infrastructure, Malta is
- 17/12/2015
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