Funds
Qatar Reinsurance Company Limited (Qatar Re), a multi-line reinsurer authorised by the Bermuda Monetary Authority, is to cease writing new and renewal business from its branch office in Singapore, with effect from 20 July 2018.
The Company says it will work closely with its Singapore-based staff, its clients and broking partners and regulators to ensure the orderly administration of existing business written from the branch. This decision does not affect Qatar Re’s sister company, Antares Asia, which continues to participate on the Lloyd’s Asia Platform.
Gunther Saacke (pictured), Qatar Re’s CEO, says: “Like many of our peers, we have
Charles River Development, provider of the Charles River Investment Management Solution (Charles River IMS), is to be acquired by State Street Corporation (STT).
The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to be completed in the fourth quarter of 2018.
The acquisition will combine Charles River’s front and middle office Software as a Service (SaaS) capabilities with State Street’s extensive front, middle and back office capabilities to deliver a comprehensive end-to-end interoperable Buy-Side platform.
“The synergy between our firms provides the market with a major new differentiating offering that will change the
Hedge fund capital ended Q2 2018 at a new record level for the eighth consecutive quarter as investors reversed Q1 strategy flow trends, allocating new capital to Equity Hedge strategies while redeeming from Macro strategies, with Relative Value Arbitrage and Event Driven also showing small outflows.
Total hedge fund industry capital globally increased by USD20.6 billion to a new record of USD3.235 trillion, according to the latest HFR Global Hedge Fund Industry Report.
Reversing the trend of inflows from Q1 2018, investors redeemed an estimated USD3.0 billion in Q2 2018, the first quarterly outflow since Q1 2017. Firms with
JP Morgan Alternative Asset Management (JPMAAM) is strengthening its efforts to assist hedge fund managers who are interested in increased adoption of environmental, social and governance factors into their underlying strategies and businesses.
This week JPMAAM hosted its first ESG Forum at its New York headquarters, bringing together a diverse range of hedge fund managers interested in learning more about institutional client interest in ESG, enhancing alpha with ESG, and best practices for incorporating ESG factors into their businesses.
“In our hedge fund solutions business we are seeing increased interest from our clients in the ESG practices of our
Risk assets were under pressure during the second half of June as trade war concerns escalated. The MSCI World was down 3 per cent in USD terms during the second half of June, since Trump approved tariffs on Chinese imports.
Lyxor writes: “The equity market correction was accompanied by a sector rotation which sent cyclical sectors such as Materials and Industrials down. Meanwhile, defensive sectors such as Utilities and Telecommunications outperformed since mid-June. Translated into the world of risk factors, this movement is a momentum reversal.
“In the hedge fund space, momentum reversals tend to impact negatively L/S Equity
Active investment manager Allianz Global Investors has launched the Allianz Fixed Income Macro Fund, a new global absolute return fixed income fund aimed at the UK market and will be managed by Kacper Brzezniak from the Conviction Fixed Income team based in London.
Mike Riddell will be deputy portfolio manager, and the team will be supported by Ryan Chin, a multi asset portfolio manager based in the US.
The Fund aims to outperform cash by 4-6 per cent per annum, (gross of fees) through all market cycles, regardless of the direction of interest rates, credit or equities.
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Alternative fund manager Abacus Capital’s Hogi Hyun is stepping into the crypto world to bring investors a blockchain and tokenised investment grade diamond investment opportunity.
Abacus was established in Singapore in 1996 and has some USD1 billion in assets in special situations and private equity investments in commodities, natural resources and mining. It also has a family office fund platform.
Hyun’s new venture, the D1 Coin, is based on the physical delivery of an initial 1,500 investment grade diamonds from Alrosa, the world’s largest diamond miner. The diamonds will be used to support the new asset-backed token D1 Coin.
Hyun
The first mobile-focused personal wealth manager exclusively for crypto assets, B21, has announced a partnership with Salus Alpha, a licensed and regulated investment provider for retail and institutional clients.
Through this partnership, B21 will list Salus Alpha’s Smarter than Crypto (STC) top 20 by market cap index fund, an actively managed closed cap fund for retail investors. In addition, Salus Alpha will provide the license framework for B21 to create its own funds on the B21 platform, improving its fund management capabilities.
“By partnering with Salus Alpha, we’re able to accelerate the deployment and expansion of the B21 platform,
Hedge funds were down 0.34 per cent in June with H1 2018 almost flat, with a 0.08 per cent gain year-to-date, according to the latest Eurekahedge Report. This would be the weakest first half performance of hedge funds on record since 2000.
The strongest gain occurred in H1 2009 when hedge funds gained 10.62 per cent while the next weakest H1 performance came in H1 2010 when managers posted gains of 0.91 per cent.
Total hedge fund assets grew by USD8.8 billion over the past six months, which compares with a growth in total AUM of USD98.5 billion over
Alternative asset manager Mariner Investment Group has closed a USD511 million collateralised loan obligation (CLO).
This is the sixth CLO issued by Mariner’s leveraged credit team and the third in the past 10 months, bringing the total CLO assets under management to approximately USD3.1 billion.
Mariner’s leveraged credit team transitioned from ORIX Corporation USA, Mariner’s parent company, in the fall of 2014. The 18-member team is co-led by David Martin and Erik Gunnerson, who together bring over 30 years of investment expertise. Martin and Gunnerson have managed the team for nearly nine years, including while at ORIX USA and
