Funds
Warrington Asset Management (Warrington) has launched the Warrington Strategic UCITS Fund on the MontLake UCITS Platform.
The Warrington Strategic UCITS Fund seeks to generate attractive absolute returns, non-correlated to traditional equity and bond markets, by investing in a portfolio of options on the highly liquid S&P 500 futures market. Warrington employs both technical and fundamental analysis to determine certain potential trading ranges for the S&P 500. Warrington then deploys a portfolio of options spreads, both long and short, on S&P 500 futures. Given the liquid nature of the S&P 500 options on futures market, Warrington is able to offer this UCITS product
PEGAS, the pan-European gas trading platform operated by Powernext, achieved its best trading results on its spot segment in 2018 by reaching 1,111.2 TWh, improving its previous record (826.2 TWh in 2017) by over 34 per cent.
The total traded in 2018 amounted to 1,962,9 TWh , including 846.2 TWh on the futures and 5.5 TWh on the options segments, which was fairly stable compared to 2017 (1,977.3 TWh). Overall, TTF remained the most liquid hub on PEGAS with 1,068.0 TWh followed by NCG (260.6 TWh) and PEG (181.3 TWh).
Dr Egbert Laege (pictured) , President of Powernext, says:
Apex Group (Apex) and Genstar Capital (Genstar) have acquired the Corporate and Private Client Services (CPCS) and Throgmorton businesses of Link Group’s Asset Services division.
The acquisition increases Apex’s global assets under administration (AUA) to nearly USD600 billion.
The acquisition substantially bolsters Apex’s corporate services capabilities adding specialist hubs in the UK, Jersey, Ireland, Luxembourg, the Netherlands, Hungary and Switzerland. In addition, the businesses have an established and robust service infrastructure, administering and safeguarding assets across seven highly-regulated European jurisdictions. Combined, the Apex Group’s service offering now spans fund administration, banking and depositary solutions, a comprehensive middle office offering and
Broadridge Financial Solutions has acquired certain private fund regulatory reporting capabilities from PivotData, a data warehouse and compliance reporting solutions platform for the investment community, and its partner Sol Hedge.
Broadridge will leverage their capabilities to help private fund asset managers meet their regulatory reporting requirements.
These regulatory reporting capabilities will complement Broadridge’s existing reporting solutions, helping clients gather appropriate data, calculate what information is needed from a submission perspective and submit data to the appropriate authorities. PivotData and Sol Hedge’s proprietary data transformation, normalisation and load (ETL) processes and in-house compliance experience will provide clients with a reliable,
The State Street Global Investor Confidence Index decreased to 70.2 in January, down 9.4 points from December’s revised reading of 79.6.
Confidence among North American investors worsened, with the North American ICI decreasing from 74.5 to 66.8. The European ICI decreased by 2.6 points to 90.3 and the Asia ICI decreased by 10.3 points to 100.2.
“As we progress into 2019, our global Investor Confidence Index reflects a warp-speed deterioration in confidence. While confidence itself is not necessarily at an all-time low, this month’s unprecedented low level reflects the extraordinary rate of retreat hastily beaten by professional managers. Noteworthy
CloseCross, a multi-party, decentralised derivatives trading platform in beta, has opened its investment round with USD3 million backed by Amnis Ventures, a privately owned venture fund based in Houston, Texas.
The investment puts CloseCross at a post-money valuation of USD60 million.
CloseCross is committed to a disruption of the current financial derivatives market by deploying patented multi-party settlement mechanisms and proprietary algorithms. Its aim is to create a derivatives environment where market participants enter collective smart contracts instead of traditional one-to-one contracts. CloseCross’ testnet application is currently available in beta in 140 countries across both iOS and Android platforms.
Q&A with Gary Smith, Partner, Loeb Smith Attorneys
Could you briefly explain the concept of the Segregated Portfolio Company?
Once registered under the Cayman Islands Companies Law, a segregated portfolio company (“SPC”) can operate segregated portfolios (“SPs”) with the benefit of statutory segregation of assets and liabilities between portfolios.
Under Cayman Companies Law, an SPC is an exempted company which has been registered as a segregated portfolio company. It has full capacity to undertake any object or purpose subject to any restrictions imposed on the SPC in its Memorandum of Association (“Memorandum”). The SPC is able to create one or more
Tax transparency and cooperation with international regulators and governments to guard against tax evasion is something that the Cayman Islands takes seriously. It has, after all, Tax Information Exchange Agreements with all major developed countries and shares information with over 100 countries under the OECD’s Common Reporting Standard framework.
Specifically, Cayman has had a TIEA in place with The Netherlands since 2009. That The Netherlands has just decided to blacklist the Cayman Islands (along with 20 other jurisdictions) has understandably surprised people and one wonders what the problem is, given the island’s commitment to adhering to the OECD’s BEPS Inclusive
The European Energy Exchange (EEX) and Global Dairy Trade (GDT) have successfully concluded the initial consultation period regarding the establishment of a joint venture to operate a European-based auction mechanism for European dairy products.
The initiative between EEX and GDT received a high level of interest in the market during the evaluation process. To date, EEX and GDT have met with more than 50 key participants of the dairy value chain. Sellers and buyers across France, Germany, Ireland, the Netherlands, Scandinavia, Switzerland, the United Kingdom, as well as buyers from Asia.
Following the completion of the market consultation and
The Mizuho-Eurekahedge Index (USD), an asset-weighted index representing the global hedge fund industry performance was down 0.39 per cent in December, bringing its year-to-date loss to 4.09 per cent amidst the global equity market sell-off.
Despite ending the year in the red, hedge fund managers recorded their best outperformance over the global equity markets since 2011, as they returned 7.70 per cent more than the MSCI ACWI IMI (USD) throughout 2018.
Historically, the Mizuho-Eurekahedge Index (USD) has outperformed underlying equity markets during periods of market distress, such as the years 2008 and 2011, during which the index outperformed global
