Funds
Lazard Asset Management has launched the Lazard International Equity Value Portfolio. The new fund is managed by the Lazard International Equity Value team, who joined LAM earlier this year.
“International equity continues to be a strategic focus for Lazard and for our US-based clients,” says John Reinsberg, Deputy Chairman and Head of Global and International Strategies at LAM. “We are pleased to be able to offer investors this highly differentiated strategy, which we believe complements our existing international equity platform of primarily relative value and quantitative strategies.”
The fund is benchmark-agnostic, investing in companies listed outside of the US
Following receipt of regulatory approval from the Commission de Surveillance du Secteur Financier (CSSF), Centaur has completed its purchase of Luxembourg Capital Partners SA and is now open for business in the Grand Duchy.
Centaur’s Luxembourg office will focus on servicing private equity and real estate funds and related corporate entities.
Centaur recently acquired Luxembourg Capital Partners, an existing administration firm, which provides a full suite of fund administration services to funds, family office and corporate vehicles. This acquisition brought Gerry Salucci and a team of experienced industry professionals to Centaur to spearhead the establishment and growth of Centaur
BNP Paribas Capital Partners (BNPP CP), BNP Paribas Asset Management’s specialist in external alternative manager selection, has launched an investment programme to provide institutional investors with exposure to the European discounted private debt market.
Fundraising is ongoing, with the final target of EUR250 million expected to be reached in 2019.
The investment programme is structured as a closed-ended fund of debt funds, with a lifespan of seven years and an average duration of about two and a half years. It aims to offer investors a net internal rate of return (IRR) of around 9-12 per cent.
Capital will
The asset-weighted Mizuho-Eurekahedge Index – USD gained 0.33 per cent in September, outperforming the equal-weighted Eurekahedge Hedge Fund Index which declined 0.11 per cent throughout the month.
Approximately 49 per cent of the fund managers tracked by Eurekahedge posted positive returns over the month. Hedge fund managers overseeing in excess of USD1 billion in assets gained 0.57 per cent over the month, while small hedge fund managers (up to USD100 million AUM) lost 0.25 per cent.
Eurekahedge says that Asian fund managers posted losses of 0.94 per cent in September, underperforming their peers from developed markets, as they failed
RiverNorth Capital Management (RiverNorth), an investment management firm specialising in opportunistic strategies, has launched the RiverNorth Opportunistic Municipal Income Fund, a new municipal bond-focussed closed-end fund.
RiverNorth will act as the investment adviser to the fund, and MacKay Shields will act as sub-adviser. The Fund was priced at USD20.00 per share, and trading on the New York Stock Exchange began on 26 October, 2018 under the symbol RMI.
The fund’s primary investment objective is current income exempt from regular US federal income taxes (but which may be includable in taxable income for purposes of the Federal alternative minimum tax).
March this year saw Markov Processes International (MPI) launch hedge fund indices with data from BarclayHedge. The MPI Hedge Fund Indices were designed to deliver performance benchmarks by pairing monthly hedge fund indices with daily tracker indices comprised of liquid securities that enable daily monitoring of hedge fund performance and risk.
This month, Rohtas Handa, (pictured), EVP and Head of Institutional Solutions at MPI, explains that they have added to their hedge fund indices with the addition of target volatility indices for each tracker, enabling benchmarks to be tailored to a specific investor, allocation or product’s desired risk level.
The
LoCorr Funds is reducing the management fees for the LoCorr Macro Strategies Fund and the LoCorr Dynamic Equity Fund. Effective 18 October, the Macro Strategies Fund management fee has been reduced to 1.65 per cent, and the Dynamic Equity Fund management fee has been reduced to 1.50 per cent.
The Dynamic Equity Fund also reduced the expense cap by 0.91 per cent.
The LoCorr Macro Strategies Fund, launched in 2011, is a multi-manager fund combining established investment managers, each with a long history of investment expertise in the managed futures space, but managing distinct strategies: Graham Capital Management (founded
Hedge fund performance was dragged lower last week by high beta strategies such as L/S Equity and Special Situations, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
Low beta strategies such as Merger Arbitrage, Relative Value Arbitrage, L/S Equity Market Neutral and CTAs outperformed. On a month to date basis, CTAs also underperformed due to the trend reversal across asset classes earlier in the month. But trend followers were largely spared by the sell-off last week.
Lyxor says: “Based on a sample of 192 liquid funds with data up to 24 October, we provide a
LumX Asset Management has been at the forefront of developing innovative alternative investment solutions for more than 25 years. One of the central tenets of its business model is its structured funds platform and structuring business, LumMap, designed to give a highly tailored solution to fund managers and investors, with strong governance, risk controls and deep position-level transparency thanks to its affiliation with LumRisk, an independent subsidiary of the LumX Group.
Previously operated from Jersey, in June 2018 LumX established a platform offering in Ireland, structured as an ICAV master/feeder, giving global institutional investors access to regulated AIFs. All funds
Since 2012, K2 Advisors, one of the industry’s largest hedge fund advisory groups, has been part of Franklin Templeton Investments. It has, in many ways, been an ideal marriage, with K2 bringing alternative fund solutions expertise and Franklin Templeton bringing a distinguished history in traditional registered investments.
Over the last six years, this has led to substantial growth in the firm’s managed account platform, which it uses as one of the building blocks to craft solutions for its institutional business as well as its registered ’40 Act and UCITS business.
As Wilson “Bill” Santos (pictured), Senior Managing Director and Global
