Funds
Emerging markets (EM) L/S Equity strategies remain cautious regarding the sustainability of the rally in EM assets, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
Managers report that good news tend to be priced in with EM valuations back in their medium range. They are not convinced that global growth bottomed for good. They are also concerned that political uncertainties will continue to make stock picking opportunities vulnerable.
In contrast, EM top-down and credit strategies largely turned bullish on EM markets. Managers report that positive economic surprises in China are only at their beginning. They expect
The European Energy Exchange (EEX) increased volumes on its power derivatives markets by 31 per cent to 359.3 TWh in February (February 2018: 274.3 TWh).
In particular, significant increases in the German Phelix-DE product (248.4 TWh, + 62 per cent) as well as in the Spanish market (13.1 TWh, +56 per cent) contributed to this development. Volumes in the Dutch market more than doubled to 4.0 TWh (February 2018: 1.6 TWh). In the Central and South-Eastern European (CSEE) markets, EEX almost tripled its trading volumes year-on-year to 14.0 TWh (February 2018: 4.9 TWh).
On the EEX markets for emission
CPR AM has expanded its fixed income range with the launch of CPR Invest – Smart Beta Credit ESG Fund, an open-ended fund incorporated in Luxembourg that aims to achieve a return comparable to the euro-denominated investment grade credit market, with a lower risk over the long term.
The fund is managed by Fanny Jacquemont and is based on a quantitative model developed by CPR AM’s research team.
Julien Daire, head of fixed income and credit, says: “Investors are constantly searching for yield in this low interest rate environment. But because of on-going geopolitical uncertainty, accessing credit with the
Morningstar has released a new report, Cross-Border Liquid Alternative Fund Landscape 2019, showing how the landscape for this fast-growing asset class has developed and transformed in the past decade, and what challenges lay ahead for investors and fund selectors in the asset class.
In the 10 years through the end of December 2018, the number of available open-ended alternative funds domiciled in Europe has risen by 76 per cent, which equates to 2,663 live open-ended funds in Morningstar’s database currently. This growth is higher than for any other asset class. In terms of assets, alternative managers oversaw EUR420 billion of
Saxo Bank, a fintech and regtech specialist focused on multi-asset trading and investment, is broadening access to Chinese securities, further cementing its position as a gateway to China for its international client base.
Qualified institutional clients are now able to trade mainland China bonds through Saxo Bank. The connectivity is enabled via the Hong Kong based Bond Connect mechanism, which is a mutual bond access programme launched in 2017, allowing overseas and Mainland China investors to trade in each other’s bond markets. The launch of mainland China bonds further strengthens Saxo Bank’s unparalleled global multi-asset trading and investment platforms –
Man Group has announced net inflows of USD10.8 billion for the financial year ended 31 December, down from the USD12.8 billion seen in 2017.
Funds under Management (FUM) totalled USD108.5 billion as at 31 December 2018 compared with USD109.1 billion in 2017, while adjusted profit before tax (PBT) fell to USD251 million in for the year from USD384 million in 2017.
Luke Ellis (pictured), Chief Executive Officer of Man, says: “2018 was a more difficult year for the asset management industry, characterised by periods of higher volatility which impacted performance across asset classes and investment styles. Against this backdrop
The LF Woodford Equity Income Fund (WEIF) has sold some of the portfolio’s individual unquoted stocks to Woodford Patient Capital Trust (WPCT) in exchange for shares in WPCT. This step signals the start of a strategy to switch the fund’s unquoted exposure from individual unquoted holdings to shares in WPCT.
WEIF acquired the new WPCT shares primarily for a “non-cash consideration” by transferring five unquoted holdings to the value of GBP72.9 million to WPCT and subscribing for the remaining GBP6 million in cash. This acquisition of assets by WPCT allows it to increase its position in companies that the Board
Gregory Property Group has secured forward funding and started on site to deliver a prominent, new 407-bed student residential scheme on the edge of Leeds city centre.
Planning consent was granted in November last year for the GBP30 million plus scheme located on a prominent site on Bingley Street. Until recently, the site was occupied for more than three decades by Maxi’s restaurant; the first purpose-built Chinese restaurant in the UK.
Gregory Property Group has secured forward funding from Curlew Alternative Asset Management (Curlew) and subsequently appointed Leeds based GMI Construction Group with a GBP21.5million contract to build ‘The
A corporate team from Carey Olsen Bermuda has advised Apex Group (Apex) on its purchase of Beacon Fund Services (Bermuda) Ltd, Beacon Corporate Services (Bermuda) Ltd and Beacon Management Limited (Beacon).
The acquisition of Beacon, a well-established Bermuda-based fund administrator, adds further weight to Apex’s hedge fund administration, corporate services and transfer agency solutions, while also adding USD10 billion in assets under administration to the Apex portfolio. Headquartered in Bermuda, Beacon was established in 1995 and delivers sophisticated service offerings to both offshore and domestic hedge funds and other international entities.
The Carey Olsen Bermuda team comprised partner Mary Ward
Pangea Blockchain Fund has held the close of its seed round and debuted its inaugural International fund focussed on transformative blockchain solutions.
The firm secured USD22 million and expects fundraising to be capped at USD200 million. Pangea Blockchain Fund’s Swiss-based investment adviser, Blockchain Investment Advisory Sagl, is led by a team of established asset management and blockchain industry veterans including founders James Duplessie and William Duplessie. The US-based sub-adviser, Blockchain Investment Advisory LLC, is managed by Jason Bonayer, Stephen Duplessie, Philip Plough and Jeffrey Engel. Together, the teams will position Pangea Blockchain Fund at the forefront of tech discoveries
