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Lyxor Asset Management has partnered with Chenavari Investment Managers to launch the Lyxor/Chenavari Credit Fund, a new European focused long/short credit strategy on Lyxor’’s alternative UCITS platform.
The fund focuses on niche long/short credit market strategies by taking advantage of opportunities arising from bank deleveraging and financial dislocation in Europe. This investment strategy is based on a fundamental, “credit spread neutral” approach that seeks consistent absolute returns, with a low volatility and correlation to broader credit indices. The use of liquid instruments enables a dynamic trading approach.
Founded in 2008, Chenavari specialises in European credit and structured finance. The Firm
- 30/07/2015
The European Securities and Markets Authority (ESMA) has published its Advice in relation to the application of the AIFMD (Alternative Investment Fund Managers Directive) passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs) and its Opinion on the functioning of the passport for EU AIFMs and the national private placement regimes (NPPRs).
The Advice and Opinion, required under AIFMD, will now be considered by the European Commission, Parliament and Council.
The Advice relates to the possible extension of the passport, currently only available to EU entities, to non-EU AIFMs and AIFs which are currently subject
- 30/07/2015
The European Securities and Markets Authority (ESMA) has made a recommendation to the European Parliament, Council and Commission, that Jersey should be amongst those ‘third countries’ granted an AIFMD passport.
This recommendation follows ESMA last year issuing a ‘Call to Evidence’ for them to consider whether to extend the AIFMD passporting regime beyond EU Alternative Investment Funds (AIFs) managed by EU Alternative Investment Fund Managers (AIFMs). Separate responses were submitted to ESMA from the JFSC and local industry to this ‘Call to Evidence’ in this respect.
The JFSC is fully engaged with ESMA and has been working hard
- 30/07/2015
In a new study produced as part of the Société Générale Prime Services (Newedge) research chair on “Advanced Modelling for Alternative Investments”, EDHEC-Risk Institute attempts to give an overall view on alternative equity beta strategies, to determine the areas of usage and to analyse the alternative equity beta practices and perceptions of investment professionals.
Between January and February 2014, EDHEC-Risk Institute carried out a survey among a representative sample of 128 investment professionals to identify their views and uses of alternative equity beta.
Among the key findings of the survey:
• Investors are familiar with the construction principles of advanced
- 30/07/2015
One in four (25 per cent) senior asset management executives believe it’s “highly likely” they will face direct competition from a non-traditional new entrant such as a technology or non-financial services company within the next five years.
That’s according to a new report from State Street Corporation, which also reveals that a further 54 per cent believe this threat is “somewhat likely.”
The findings are from a global survey conducted by the FT Remark commissioned by State Street among 400 senior asset management executives for a new report entitled: “Opportunities for Optimism? A New Vision for Value in Asset
- 30/07/2015
The Depository Trust & Clearing Corporation (DTCC) has urged legislative and industry action to address three key obstacles that are hindering achievement of the G20 transparency goals set forth by policymakers in the aftermath of the 2008 financial crisis.
During a US. House of Representatives Committee on Agriculture hearing on the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), Larry Thompson (pictured), Vice Chairman and General Counsel at DTCC stated that while progress has been made since the crisis, the goal of global data transparency – a critical element in understanding systemic risks and interconnectedness,
- 30/07/2015
The Chicago Board Options Exchange (CBOE) is collaborating with the Singapore Exchange (SGX) to launch the first international extension of the world-renowned CBOE Options Institute. The "CBOE Options Institute at SGX" is expected to launch in the fourth quarter of 2015.
The CBOE-SGX educational collaboration leverages CBOE's options education expertise and the trusted "CBOE Options Institute" brand with SGX's position as a gateway to Asian financial markets.
The CBOE Options Institute at SGX will be dedicated to engaging Asian investors in the effective use of options and volatility strategies to manage risk. The program will be part of the
- 30/07/2015
Cyber crime is building to tsunami-like proportions and hedge fund managers are not immune from the threat yet there still appears to be a degree of naivety.
According to Carl Chapman (pictured), COO of Capital Support, a leading managed IT services provider, C-level executives tend to overlook the importance of having a solid security risk programme. "They still think cybersecurity is an IT issue but it's not; it's a business issue.
"One of the approaches we've taken with some of our customers is to explain that cybersecurity is really just risk management and should be treated in the same
- 30/07/2015
Hedge funds are an integral part of the financial fabric, and, whilst they may not have the same capital profile as large investment banks, the Bank of England is advising that they strengthen their resilience in order to recover quickly from attacks.
In the Bank of England's July 2015 Financial Stability Report, they write: "A successful attack on a systemic institution or vital infrastructure (including non-financial infrastructure that the financial sector relies on, such as utilities) could cascade throughout the financial system."
In May 2014, the BoE established a vulnerability testing framework – CBEST. Although this is aimed primarily at
- 30/07/2015
Today's world has never been more interwoven. Cybersecurity risks have grown exponentially as global businesses have become more integrated with counterparties and system architectures have grown in complexity. In the opinion of Gerhard Grueter, co-founder of Lawson Conner, a market leader in compliance solutions for the investment fund industry, the topic is only going to get bigger.
"Today, cybersecurity has become a genuine commercial issue that can bring down entire firms because of reputation risk and regulatory risk. The threat today is nothing like what it was five years ago. It is now an active market of cyber criminals deliberately
- 30/07/2015
- 30/07/2015
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