Funds
Hedge funds were down 2.15 per cent for the year, their weakest performance on record since 2008 when they declined 9.55 per cent in the 10 months through to October, according to figures released by Eurekahedge.
Almost 47 per cent of the managers are in the green for the year with roughly 8 per cent of the managers posting double digit gains as tracked in the Eurekahedge Global Hedge Funds Database.
Total assets under management have decreased by USD32.2 billion as of October 2018 year-to-date, compared with an increase of USD173.2 billion over the same period last year as
MV Index Solutions has launched the MVIS Bitcoin US OTC Spot Index (MVBTCO), which is the first bitcoin index based on US price feeds from established OTC digital asset trading operations.
The index shows the spot price of bitcoin by tracking its performance based on three of the leading providers in OTC liquidity, including Circle Trade, Cumberland and Genesis Trading. MVBTCO expands MVIS’ portfolio to a total of 24 digital assets indices.
“We are excited to be the first provider to launch a bitcoin index based on the pricing feed of OTC trading desks,” says Thomas Kettner, Managing
Hedge funds endured their heaviest outflows in more than five years in September despite record highs in US equity indexes and strong consumer sentiment, according to the Barclay Fund Flow Indicator.
Data from more than 5,000 hedge funds in the BarclayHedge database estimated that the hedge fund industry (excluding CTAs) shed USD39.1 billion (-1.3 per cent of assets) in September, reversing inflows of USD21.5 billion (0.7 per cent of assets) the month before.
Industry assets dipped to USD3.06 trillion in September, down from August’s all-time high. Weak demand for hedge funds contrasted with strong demand for equities in
Carey Olsen has experienced the largest growth of any Jersey law firm in the number of investment funds it advises, according to Monterey Insight’s 2018 Jersey Fund Report.
The 24th edition of the annual report, which provides a comprehensive analysis of all funds domiciled, serviced or distributed in Jersey reported that Carey Olsen now provided legal advice to 670 such funds at the end of June 2018 – an increase of 162 (31.9 per cent) over the year. Significantly, no other Jersey law firm saw a bigger increase than 15 from the previous year.
In addition, for non-permit funds
The SS&C GlobeOp Forward Redemption Indicator for November 2018 measured 3.96 per cent, down from 2.66 per cent in October.
“SS&C GlobeOp’s Forward Redemption Indicator for November 2018 was 3.96 per cent, a favourable reading in view of seasonal norms and essentially unchanged from the 3.91 per cent reported for the same period a year ago for November 2017,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “This result continues the past two years’ trend of redemption notices running at or below historical levels, indicating that hedge funds’ asset retention remains strong in the face of market volatility.”
The SS&C
Xena Exchange, a professional-level crypto-asset trading platform, has completed a USD3 million Series A round of financing led by Klever Internet Investments. The newly raised funds will bolster the company’s focus on team expansion, marketing efforts, and accelerate product development.
The Xena Exchange team is made up of a group of industry professionals with experience from top-notch investment banks such as J.P. Morgan, Deutsche Bank, UBS, and more. In 2017, the company has received its initial funding from angel investors to launch its operations, and has since built a cryptocurrency trading platform with better tools for trading.
Xena Exchange
Mediolanum International Funds Limited, the Irish management company of the Mediolanum Banking Group, has launched a new Thematic global equities fund – Mediolanum Innovative Thematic Opportunities – as part of its Best Brands umbrella fund offering.
The objective of the fund is to achieve long term capital appreciation through global exposure to a diversified portfolio of equity securities, including emerging markets, while applying a sustainable mindset.
Mediolanum Asset Management (MAML) is the Investment Manager of the fund and its Manager Research team has selected Robeco, a pioneer in thematic investing, as the delegated portfolio manager.
Robeco has responsibility
Monroe Capital (Monroe) has closed a USD455.75 million term debt securitisation known as Monroe Capital MML CLO VII, LTD. The term financing was Monroe’s third CLO completed in the last 13 months and is secured by a portfolio of middle market senior secured loans.
Monroe sold securities rated from AAA through BB. Monroe and its affiliates retained a majority of the Subordinated Notes in the transaction. BNP Paribas served as the Lead Manager, Structuring Agent and Bookrunner. This transaction was structured to meet and comply with both the European risk retention guidelines as well as US risk retention guidelines.
Cooper Creek Partners (Cooper Creek) has launched its North America Long Short Equity UCITS Fund on ML Capital’s MontLake UCITS Platform.
With day one assets in excess of USD110 million, it will be one of the largest Alternative UCITS Fund launches year-to-date. MontLake is an independent platform for UCITS funds that provides investors with access to a range of Irish-domiciled liquid, transparent and regulated investment funds.
The Cooper Creek Partners North America Long Short Equity UCITS Fund seeks to generate attractive absolute returns, non-correlated to equity market performance, by investing in a portfolio of high conviction ideas with a
Private equity firm GTCR is to acquire Ultimus Fund Solutions and The Gemini Companies in a strategic combination. The combined company, which will operate as Ultimus Fund Solutions, will be a leading provider of full service fund administration, accounting and investor solutions to traditional and alternative fund managers.
On behalf of their customers, the combined companies service approximately USD150 billion of assets under administration and over 840 total funds.
As part of this transaction, Ultimus President Gary Tenkman (pictured), will become the Chief Executive Officer of the combined business. Gemini CEO Kevin Hesselbirg will join the Board of the
