Funds
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
Demand for hedge funds crept upwards in May, according to the Barclay Fund Flow Indicator, as equity markets rebounded and the US economy improved. Industry assets remained at an all-time high of USD3.0 trillion.
Data drawn from more than 5,000 hedge funds in the BarclayHedge database estimated that the hedge fund industry (excluding CTAs) took in USD4.0 billion (0.1 per cent of assets) in May, reversing USD1.9 billion in redemptions the month before. Industry assets climbed 3.5 per cent year-to-date and surged 17.6 per cent over the trailing 12 months, according to the Barclay Fund Flow Indicator, a monthly big-picture
Stockholm IT Ventures, a Swedish technology company specialising in energy crypto currency mining, has secured a EUR2 million investment in its Bytemine token (BYTM) from Pecunio’s VC Fund.
Pecunio, a fintech company in the United Arab Emirates, has also offered to purchase the remaining allocation of Bytemine tokens (up to EUR 1 million) by the end of the sale.
“We are extremely excited to have Pecunio on board as an institutional investor,” says Phillip Nunn, Managing Director of the Crypto Division for Stockholm IT Ventures. “Being recognised and added to Pecunio’s exclusive portfolio represents a great testament to our
NEX Data, which delivers independent market intelligence and price information for OTC Data, and JBOND, an electronic platform for trading in Japanese Repurchase agreements, have launched the JBOND NEX Repo Index to measure the effective cost of funding for Japanese government bonds.
The first Japanese repo index, it was launched in response to considerable interest from financial community.
The Japanese Yen (JPY) repo market has been very active of late with the average month-end outstanding for 2017 reaching JPY160 trillion. The JBOND NEX Repo Index provides an insight in to the overall cost of funding in the dealer to
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.05 per cent loss in June. Year to date, the Index is down 2.00 per cent.
“Trade war concerns sparked by economic sabre rattling shook grain markets while US pressure on its allies to boycott Iranian oil rallied energy prices to new highs on the year,” says Sol Waksman, founder and president of BarclayHedge.
Agricultural Traders were down 0.59 per cent in June, the Discretionary Traders Index lost 0.59 per cent, and Diversified Traders gave up 0.21 per cent.
The MPI Barclay Elite Systematic Traders
Risk-on sentiment bolstered hedge funds’ returns last week with Lyxor’s Global Hedge Fund Index up 0.3 per cent. The most directional strategies outperformed, including L/S Equity along with Special Situations strategies.
Other strategies though, were flat.
The rise in equities and the JPYUSD depreciation supported CTAs, but long energy positions eroded some of their gains.
Overall, all hedge fund strategies refrained to add risk within portfolios. Global Macro strategies turned more bearish lately. L/S Equity shaved off their directionality and strengthened their defensive tilt. Their net exposure to equities remains nonetheless significant.
Lyxor writes: “Merger Arbitrage
BlackRock’s results for the second quarter of 2018 reveal USD20 billion of total net inflows, positive across active, index and cash management.
The figures represent an 11 per cent revenue growth year-over-year driven by base fees, performance fees and technology services revenue and the firm writes that the 16 per cent operating income growth year-over-year reflects operating margin expansion.
There was 27 per cent diluted EPS growth (28 per cent as adjusted) driven in part by lower tax rate and USD300 million of quarterly share repurchases.
Laurence D. Fink, Chairman and CEO of BlackRock says: “BlackRock delivered strong financial results
By Andrew Harding – Ahead of the World Cup The Economist ran an article entitled “What makes a country good at football?” The journal explored the various components of a successful national side, taking account of GDP, population size and the popularity of the game in each country.
Wealth, size and popularity of the game were all found to be correlated with success, but these elements made up less than half the story. Centralised schemes to promote the game were found to significantly improve performance, and were much easier to establish in smaller countries such as Uruguay and Iceland. To
By Fiona Le Poidevin, TISE – There were 705 new listings on The International Stock Exchange (TISE) during 2017, which was an increase of 40 per cent on the previous year. In the first quarter of 2018, there was a 16.5 per cent rise year on year in new business, which took the total number of listed securities on the Exchange to 2,606 at the end of March 2018. These listings comprise a mix of equity and debt being issued by operating companies and nearly 400 securities issued by investment vehicles, including open and closed-ended funds and more than a
By Dr Andy Sloan (pictured), Guernsey Finance – Guernsey has been identified as an ‘emerging global contender’ in green finance. In a climate currently led by the global commitments made at the United Nations COP 21 conference in 2015, Guernsey has identified green issues as a key strategic objective.
The island is rapidly becoming the “go to” international finance centre for green finance. The introduction by the regulator, the Guernsey Financial Services Commission, of the world’s first regulated green fund product, the “Guernsey Green Fund” puts us at the forefront of green finance development.
The objective of the GGF is
