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Pictet Select-Global Long/Short Equity has attracted close to EUR200 million in commitments since its launch on 29 August 2014. The fund, which is managed by Geneva based Pictet Alternative Advisors (PAA), will be initially offered via a selection of ABN AMRO’s international private banking distribution channels.    Pictet Select-Global Long/Short Equity invests in 10 to 15 UCITS-compliant hedge funds within long/short equity and event-driven strategies. The portfolio has a weekly liquidity and is purposely diversified across sectors, regions and management styles to achieve efficient exposure to equity markets. The portfolio allows investors to participate in equity market upside while limiting
Gottex Fund Management, an independent provider of alternative, multi-asset and Asian investment solutions for institutional and retail investors, has completed its merger with EIM Group. A total of 14 million shares have been listed on SIX Swiss Stock exchange as of 30 September 2014.
SEI’s Holly Miller (pictured) and Ross Ellis explain the core tenets of establishing a successful middle office… A survey published by Deutsche Bank in September 2014, entitled From Alternatives to Mainstream Part Two, found that the US alternative mutual fund industry has experienced 38 per cent annualized growth since 2008. The survey predicts that it has the potential to become 6 per cent of the USD15tn US mutual fund industry by 2019; total assets exceeded USD300bn in May 2014. There are many factors driving convergence between traditional and alternative fund managers; key among them is investor demand for regulated, transparent
The US Commodity Futures Trading Commission (CFTC) has issued an extension to no-action letter 13-86 which provided time-limited relief relating to certain CDS clearing-related swaps. This no-action letter provides the following relief (in each case subject to certain specified conditions):   • The Division will not recommend that the Commission take enforcement action against a DCO for failure to register as a swaps execution facility (SEF) pursuant to CFTC Regulation 37.3;   • The Division will not recommend that the Commission commence an enforcement action against any DCO clearing member for entering into a swap through the DCO’s CDS Settlement
Hedge funds are beginning to take advantage of new communications channels one year after the enactment of the JOBS Act, according to a Peppercomm study. "The JOBS Act is working by removing grey areas surrounding hedge fund communications and enabling more active engagement," says Thomas Walek, president of WalekPeppercomm, a communications firm serving the hedge fund sector. "This new regulatory environment is one piece of a larger trend as hedge funds explore new communications strategies and tools in response to intense competitive pressures, new products like liquid alternatives, and client demands for relationships built on more than performance numbers."  
GBST has worked with Omgeo to develop and certify its Syn~ application with Omgeo’s Central Trade Manager (CTM). The next generation GBST Syn~ application, an adaptable, workflow driven and easily integrated, rules-based solution, now provides clients with Omgeo CTM connectivity, providing an automated solution for the central matching of cross-border and domestic transactions.   Market participants are increasingly under pressure to lower costs and increase operational efficiency in today’s challenging economic environment. By pairing Omgeo CTM with GBST Syn~’s powerful workflow capabilities, clients can increase same-day affirmation rates, reduce costly manual intervention, and minimise exceptions and user intervention, even for
Jade Fu, Investment Manager at Heartwood Investment Management, on current opportunities for commodities investors… Commodities have underperformed both equity and fixed income markets in the year- to-date, with this trend accelerating in the third quarter. A glut of supply and muted demand against a backdrop of decelerating growth in China and a more self-sufficient US have contributed to price weakness across the commodity complex. Even heightened geopolitical unrest in various parts of the world this year has failed to trigger a sustained rally in commodity prices. However, can investors become too bearish in the short term?   Looking at current
The Depository Trust & Clearing Corporation (DTCC) and Euroclear have created a joint venture that will leverage both companies’ expertise, technology and franchises, focusing on collateral processing. The newly-created company, DTCC-Euroclear Global Collateral Ltd, will be domiciled in the UK and its operations are subject to regulatory approvals.   Ownership and governance of the joint venture company will be shared equally between DTCC and Euroclear with its board and senior executives drawn from the two firms’ management.    Michael Shipton, Euroclear managing director and head of corporate technology, will assume the role of chief executive officer of DTCC-Euroclear Global Collateral Ltd,
International law firm Withers has hired Andrea Luciano as a partner and head of financial services and investment funds in its Milan office.  Luciano joins the firm from King & Wood Mallesons SJ Berwin, where he headed the Italian financial markets group.   Luciano has extensive experience in capital markets/debt matters, securitisation transactions and private equity, venture capital and hedge fund formation.  He also has extensive experience of financial market regulation, compliance and AML procedures.   “We are delighted to welcome Andrea to our rapidly growing Italian team," says Withers’ Italian practice managing partner Roberta Crivellaro.  "Andrea's expertise in financial
The London Metal Exchange (LME) is introducing a new fee schedule, which provides an all-in transaction fee with trading and clearing components, all now charged in USD. The new simplified tariff, which comes into effect on 1 January, 2015, aligns exchange fees with the currency of the contracts traded.    The average LME transaction fee (including trading and clearing) will increase by 34 per cent.   “Our new tariff is integral to our evolution into a truly commercial global exchange and underpins our continued investment and our next phase of expansion following the successful launch of LME Clear last week,” says Garry Jones,

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