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The SEC has filed insider trading charges against a New Jersey-based hedge fund manager who allegedly used material, nonpublic information to trade in advance of market-moving news concerning Carter's Inc.
Stephen Slawson, who lives in Lebanon, New Jersey (NJ), and was co-founder and former manager to a hedge fund named TCMP3 Partners LP, is the eighth individual that the SEC has charged in connection with the agency's investigation into insider trading and other misconduct involving the securities of the Atlanta-based marketer of children's clothing.
According to the SEC's complaint filed in federal court in the Northern District of Georgia,
- 28/10/2014
Total regulatory assets under management (RAUM) reported by all investment advisers as of 7 April was USD61.7 trillion, representing a substantial increase from the USD54.8 trillion RAUM reported in April 2013.
This is according to the Investment Adviser Association (IAA) and National Regulatory Services’ (NRS) 14th annual Evolution/Revolution report, a study analysing annual updates filed by investment advisers registered with the US Securities and Exchange Commission (SEC).
The total number of SEC-registered investment advisers increased from 10,533 in April 2013 to 10,895 in April 2014. These advisers employ more than 700,000 persons and serve almost 28 million clients.
- 28/10/2014
There are USD73bn of assets in listed alternatives on the London and Amsterdam stock exchange, according to Dexion Capital, the alternatives investment bank.
The sector has added, in the last 12 months alone, a total of USD18bn. This breaks down as USD12.6bn through 22 IPOs and a further USD5.4bn from follow-on fundraises.
Half the IPOs have been credit and property funds, raising USD1.38bn and USD2.6bn respectively.
Within credit, alternative sources of financing has been an important theme and, within property, alternative property sectors such as student accommodation or care homes have registered investor interest.
Head of research Tom Skinner says: “The highly regulated environment which we have seen
- 28/10/2014
OpenGamma, a provider of OTC market structure risk management and analytics solutions, has appointed Mark Beeston as chairman of the board of directors.
OpenGamma has also appointed Cristobal Conde, former CEO of SunGard, to its board.
OpenGamma provides standardised and transparent margin calculations from the major clearing houses, enabling financial services firms to optimise their use of capital.
"OpenGamma is rapidly becoming the standard for margin calculations, a key component for financial institutions during this market structure evolution," says Beeston (pictured). "The opportunities for growth are clearly significant and I look forward to continuing my work with the
- 28/10/2014
- 28/10/2014
IMatchative has completed a USD20 million Series B funding round, which will be used to support the continued development of AltX, the firm’s data analytics platform and marketplace for capital introduction.
Lead investors include Wells Fargo & Company, Control Empresarial de Capitales, controlled by Carlos Slim, David Bonderman, founding partner of TPG Capital, and Andy Redleaf, the CEO of Whitebox, which are providing the majority of the capital.
Jeff Ubben, founder of Value Act Capital, led the Series A round and also invested in this round. Sterne, Agee & Leach served as IMatchative's financial adviser for the funding round.
- 28/10/2014
- 28/10/2014
Institutional alternative investment manager Crestline Investors has partnered with Denali Capital, a syndicated commercial loan asset management firm, to further expand a collateralised loan obligation (CLO) platform.
The business will operate under the name Crestline Denali Capital.
Denali Capital has had a relationship with the principals of Crestline since it began operating in 2001. The new alliance adds a well-established CLO manager to the Crestline family of product offerings and uses Denali Capital's expertise in sourcing and managing syndicated senior loans and related assets for the purpose of structuring and managing high-quality CLOs and other funds.
Under the
- 27/10/2014
Schroders’ Emerging Markets Economist, Craig Botham, comments on the results of the recent Brazilian election…
Brazil disappointed investors by returning incumbent Dilma Rousseff to the presidential office in Sunday’s vote. Hopes for reform to address Brazil’s structural economic problems have been dimmed, if not dashed.
A marked change of course in policy seems unlikely under Dilma. Though the president has claimed she will address macroeconomic concerns, we have heard these promises before without seeing matching policy action.
The more likely outcome, in our view, is that Dilma changes course only under extreme market duress. Policy may improve slightly at the
- 27/10/2014
- 27/10/2014
Gottex Fund Management is gearing up to launch its first UCITS product under the popular RQFII program that gives global asset managers access to China’s equity markets. The fund is scheduled to launch in the first quarter of 2015 according to the firm’s latest trading statement. It will invest in China’s A-shares market and will be managed by the Gottex-VStone Asset Management office in Shanghai. Gottex moved to establish a joint venture with VStone last year.
The firm currently has USD8.71bn of client assets as at 30 September. On the same day it completed its merger with the EIM Group
- 27/10/2014
Assets under management of Luxembourg domiciled funds reached EUR3,006.76 billion at the end of September 2014.
This represents a 14.97 per cent increase since the beginning of this year and is mainly due to net sales.
Marc Saluzzi, chairman of the Association of the Luxembourg Funds Industry (ALFI), says: “Assets under management have steadily increased since September 2013, and whilst with volatile markets assets under management actually may drop, it is encouraging both that investors have confidence in investment funds generally and that fund promoters continue to choose Luxembourg as a domicile.
“Luxembourg remains the most prominent international
- 27/10/2014
Lombard Odier Investment Managers (LOIM) has built a long/short strategy across asset classes aimed at improving risk-adjusted returns with a low correlation to traditional investments.
LO Funds – Alternative Risk Premia, a long/short fund, is designed to help in today’s environment of declining markets and uncertain prospects, where investors find the search for returns increasingly hard. Investors also need liquidity and cost-efficiency from their portfolios and know that exposure to traditional asset classes may correlate just when they need to be diversified.
By applying an Alternative Risk Premia approach with the ability to go systematically long and short, LOIM
- 27/10/2014
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