Funds
Net sales of UCITS and AIFs totalled EUR47 billion in March 2018, up from EUR25 billion in February, according to the latest Investment Funds Industry Fact Sheet from the European Fund and Asset Management Association (EFAMA).
UCITS registered net sales of EUR38 billion, up from EUR11 billion in February.
Long-term UCITS (UCITS excluding money market funds) recorded net sales of EUR42 billion, down from EUR47 billion in February.
Net sales of equity funds totalled EUR14 billion, down from EUR25 billion in February, while net sales of bond funds totalled EUR3 billion, down from EUR4 billion in February, and net sales
Widening deal spreads in March-April translated into an underperformance of Merger Arbitrage in early Q2, but the strategy recovered in May along with the tightening of deal spreads, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
The reasons why deal spreads widened earlier in Q2 are mainly related to two exogeneous factors (there was no deal break for instance), which are now less of a concern.
Firstly, the rising probability that the U.S. and China would engage in a trade war raised concerns about potential retaliation measures from the Ministry of Commerce of China (MOFCOM) which
Guernsey’s funds industry is seeing a number of new inquiries so far this year and expects to see a rise in the value of the sector before the end of the year, following a decline in the first quarter’s statistics.
Latest figures from the Guernsey Financial Services Commission (GFSC) showed the net asset value of funds business in the island declined by 2.9 per cent (GBP8 billion) during the quarter, with total assets under management and administration amounting to GBP262.5 billion. But the underlying trend is positive, with GBP40 billion growth over the past three years.
The decline was led
Hedge funds focused on the Middle East and Russia/Eastern Europe led Emerging Markets (EM) hedge fund performance through early 2018, as the US Dollar strengthened and the US Federal Reserve continued increasing interest rates.
The HFRI Emerging Markets (Total) Index posted a narrow gain of 0.08 per cent YTD through April, paring the gain of 4.0 per cent in January and following the gain of 19.4 per cent for all of 2017, as reported today by HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry. The HFRI Fund Weighted Composite Index,
HSBC Global Asset Management has held the final close of its first dedicated HSBC Diversified Loan Fund, which combines both loan investing and direct lending within a fully managed, alternative credit solution.
With close to USD800 million raised since its launch, the fund has proved popular with investors looking for a diversified, core loan solutions.
The fund will primarily invest in floating rate, senior secured credit instruments such as syndicated loans, as well as senior secured and unitranche loans to middle market companies. The combination of loan investing and direct lending increases the opportunity set for the fund and
FTI Consulting has launched FTI Capital Management (Cayman) Limited, a US Securities and Exchange Commission (SEC) registered investment adviser focused on dealing with wind-downs of investment funds.
FTI Capital Management offers a new alternative to extract value for investors by replacing existing managers and returning capital to investors in a focused and cost-effective way.
FTI Consulting is one of the most active restructuring firms for investment funds in the Cayman Islands. FTI Capital Management will complement its existing liquidation, independent director and other financial advisory services, to offer a full range of wind-down options for funds.
“Traditionally, the
The latest monthly hedge fund brief from Lyxor highlights that hedge fund performance since the end of March has been flat, according to several benchmarks.
The industry has deleveraged during the market turbulence in February and March and has thus not fully captured the market rebound in Q2 to date.
From the perspective of hedge fund strategies, the outperformance of Event-Driven, Global Macro and Relative Value Arbitrage was offset by the underperformance of L/S Equity and CTAs.
“Our views have marginally changed lately. While we continue to express an Overweight stance on Event-Driven and Fixed Income Arbitrage and
McLarty Capital Partners (MCP), a private capital provider to small- and medium-sized enterprises (SMEs), has rebranded as The Firmament Group (Firmament).
The new name reflects the firm’s evolution from an extension of the McLarty family office to a global investment platform focused on turning small business into big business. Firmament provides tailored debt and equity capital solutions directly to SMEs in the form of unitranche senior debt, junior debt, structured equity and common equity.
MCP was founded in 2012 by Franklin McLarty and Christopher Smith to support the robust capital needs of small businesses, a traditionally underserved portion
Carey Olsen has advised Techemy Capital Limited on the launch of HODL 1 – a closed-ended fund vehicle targeting investments into private-sale stage initial coin offerings (ICOs).
The fund, which has been authorised under the Jersey Private Fund regime, has appointed Techemy Capital Limited as investment adviser and will invest in cryptographic token deal flow.
The Techemy Group, based in New Zealand, owns and operates a range of businesses which assist in institutionalising this new asset class.
Partner James Mulholland led the Carey Olsen team advising Techemy Capital and was assisted by senior associate Lauren Fletcher.
Mulholland
FundRock Management Company is to acquire SEB’s wholly owned subsidiary, SEB Fund Services in Luxembourg. The completion of the transaction will be subject to the CSSF’s approval for the change of control.
SEB Fund Services is offering third party management company services to Nordic asset managers with Luxembourg-based investment funds. The business in its entirety, including some 20 employees, will be transferred to FundRock, subject to regulatory approval and final due diligence. The two parties intend for the agreement to be signed and sealed within the next two to three months.
“This move is part of our five
