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The Lyxor Hedge Fund Index was down -1.9 per cent in June. None of the 12 Lyxor Indices ended the month in positive territory. The Lyxor Fixed Income Arbitrage Index (0 per cent), the Lyxor Convertible Arbitrage Index (-0.1 per cent), and the Lyxor Variable Bias Index (-0.8 per cent) were the best performers. Another round of global steepening early June gave way to a sudden Greek-related risk aversion. A second phase of curve steepening started early June adding approximately 40bps to German 10Y yields and 30bps to UST. The Euro finished where it started, but with great volatility. Equity
WHV Investments has added the Rivington investment team to the company’s in-house portfolio managers. Rivington joins WHV from Victory Capital Management, bringing with them three highly regarded global equity strategies. The strategies are:   • Rivington Diversified Global Equity by WHV • Rivington Diversified International Equity by WHV • Rivington Select International Equity by WHV   All three Rivington strategies seek to deliver attractive risk-adjusted returns over time while emphasising enhanced diversification, lower volatility, and capital preservation. Central to these Strategies is the concept of corporate life cycles, which captures the relationship between a company’s competitive challenges and its economic performance
Bitcoin analytics and security firm Elliptic and bitcoin derivatives exchange Crypto Facilities have launched a settlement and clearing mechanism that separates bitcoin custody from all other exchange functions. Crypto Facilities’ client accounts are now hosted in Elliptic’s secure, KPMG-accredited vaults and are fully insured by an A-rated, Fortune 100 underwriter. Each client owns their own segregated, ring-fenced account which is settled on the blockchain every day. Any movement in the account is exposed to the client and can be independently verified on the blockchain.   The industry-first solution overcomes the traditional setup of bitcoin trading venues in which client assets are typically managed
Convergex, an agency-focused brokerage and trading related services provider, has appointed Frederick Arnold as Chief Financial Officer (CFO). Arnold will oversee all of Convergex’s global financial operations and will serve on the firm’s Executive Committee, responsible for providing organisational guidance and governance.   For more than thirty years, Arnold has held CFO and financial leadership positions at major global financial services and manufacturing firms. He currently serves as a director of Lehman Brothers Holdings Inc. and Corporate Capital Trust.   “We are excited to have Fred join the Convergex leadership team,” says Eric Noll (pictured), Convergex president and CEO. “He
Multi-strategy hedge fund manager Deimos Asset Management has appointed Paul Orwicz (pictured) has a Managing Director and Portfolio Manager.  In this role, Orwicz is focused on building and managing a portfolio of technology, media and telecommunications (TMT) investments. Orwicz is a 13-year veteran of SAC Capital and Point 72, where he managed portfolios focused on technology, media and telecommunications, consumer products and energy. He also managed assets at Sursum Capital, an independent firm which he ran from 2009 to 2011. Orwicz’s hire builds on the Deimos business model, which is to develop a suite of hedge fund products expected to
SS&C Technologies Holdings has completed its acquisition of Advent Software, a provider of software and services for the global investment management industry. Advent has more than 4,300 customers including asset managers, hedge funds, fund administrators, prime brokers, family offices and wealth management advisory firms, located across more than 50 countries worldwide. With more than 1,200 employees worldwide, Advent generated revenues of USD397 million for the 12 months ended 31 December, 2014. Under the terms of the merger agreement, Advent stockholders will receive per share consideration of USD44.25. The merger consideration is approximately USD2.63 billion (including the assumption of Advent’s existing
A total of 72 per cent of European capital market participants believe that there is not sufficient transparency in the European fixed income markets today. That’s according to a survey of approximately 200 senior buy- and sell-side market participants conducted at the MarketAxess and Trax European Capital Markets Forum. Support for increased post-trade transparency is up sharply compared to last year's forum, where just over half believed further transparency was needed. While 56 per cent of respondents at the forum believe pre-trade transparency under MiFID II will harm European fixed income markets, 55 per cent saw the post-trade transparency requirements
New Mountain Vantage Advisors has launched its US equity long/short fund on the MontLake UCITS platform. MontLake provides investors with access to a range of liquid, transparent and regulated investment products domiciled in Dublin.  New Mountain Vantage is an affiliate of New Mountain Capital (NMC) a New York-based asset management firm with aggregate assets under management totalling more than USD15 billion.   New Mountain Vantage, founded in 2006, currently manages approximately USD2.9 billion across US long/short and benchmarked/long-only funds. The investment strategy is predominantly focused on bottom-up research, concentrating on mid and large-cap US companies.   The New Mountain Vantage
Changing financial rules and regulations are the most pressing issue on the minds of almost half (47 per cent) of the Chief Financial Officers at US hedge funds, according to a poll by execution broker and research provider ITG. The need to streamline compliance processes is an issue for 37 per cent of the respondents to the poll, while 49 per cent cite European moves to unbundle research payments from equity trading commissions as a clear concern. If Europe moves towards a "hard unbundling" of research payments from commissions, 65 per cent of the CFOs surveyed said they would likely
PwC has further strengthened its leadership team with a number of promotions aimed at meeting ongoing growth opportunities in the Channel Islands.  Newly admitted Partner, Mike Byrne (pictured), and recently appointed Directors, Chris Van Den Berg and Alex Burne, will play key roles in facilitating the sustained growth PwC continues to experience in the local market. Jersey-based Byrne, who has been with the firm for over 15 years, leads the Asset Management industry for PwC in the Channel Islands, with a personal focus on private equity and hedge funds. The scope of his international work and experience of working in

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