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AST Fund Solutions, a provider of a complete suite of shareholder communication and recordkeeping services for mutual funds and closed-end funds, has launched a full-service intermediary oversight solution called AST Oversight.
AST Oversight was developed with Wheelhouse Analytics, a well-known technology provider in the space, to provide AST clients with the necessary tools to leverage disparate sources of data for streamlined data management and analytics. In today’s highly competitive distribution market, efficient management of multiple broker-dealer distribution relationships with unique individual revenue sharing expenses is critical for fund firms. Essential components of an intermediary oversight program include understanding effective rates
- 10/07/2015
HSBC Securities Services, part of HSBC’s Global Banking and Markets division, has made four new senior appointments to its team in Dublin, which is a hub for its hedge fund servicing business.
The appointments include new roles for Peter Daffy as Head of Fund Administration and Brian Coughlan as Head of Operations, Global Distribution and Transfer Agency (GDTA) and two new hires; Andrea Brunetti as Senior Fund Manager and Alice McAlinden as Fund Administration Manager.
Tony McDonnell (pictured), Head of HSBC Securities Services, Ireland, says: “We have strengthened the team on the back of increased flows from new deals into
- 10/07/2015
Mirabaud Securities has strengthened its secondary brokerage business with the appointment of Patrick Mayhew (pictured) to lead the equity sales team, and Will Draper to become head of equity research.
Both join from Espirito Santo in London and have been tasked with enhancing Mirabaud’s sales and research capabilities in secondary brokerage. The appointments signal a firm ambition in Mirabaud’s equities capabilities and come on the back of a strong performance over the past few years.
Giles Morland, partner, and chairman of Mirabaud Securities, says: “We are delighted to welcome two such high-profile and talented people to lead our secondary
- 09/07/2015
EBS BrokerTec, ICAP's electronic foreign exchange (FX) and fixed income business, has added Metallinvestbank as the first Russian liquidity provider (LP) and Standard Bank as the first South African LP on the EBS Direct platform.
This brings the total number of LPs on EBS BrokerTec's fully disclosed, relationship based FX platform to 24 and expands its LP portfolio to include local market providers.
As LPs on EBS Direct, Metallinvestbank and Standard Bank can now offer their customers access to a leading liquidity pool in both major and emerging market currencies, including the Russian ruble and South African rand, increasing liquidity
- 09/07/2015
Hedge funds posted declines in June as Chinese equities fell sharply and uncertainty over the outcome of the Greece referendum contributed to losses in quantitative, trend-following, Macro CTA strategies, according to HFR.
The HFRI Fund Weighted Composite Index declined -1.3 per cent in June, the worst monthly decline since June 2013, paring gains for 1H15 to +2.4 per cent. Despite the June decline, the 1H15 HFRI gain still outperformed US equities as measured by the S&P 500 by over 200 basis points.
Macro hedge fund strategies led declines for the month, with losses across equity and currency exposures contributing to
- 09/07/2015
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
- 09/07/2015
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
- 09/07/2015
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
- 09/07/2015
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
- 09/07/2015
- 09/07/2015
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
- 09/07/2015
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