Funds
Conyers Dill & Pearman has launched an innovative Funds eTool – the first of its kind for offshore investment funds.
Ocorian – an independent provider of corporate, alternative investment and private client services – has completed the acquisition of MAS International (MAS), a Luxembourg and Mauritius based provider of fund administration and corporate services.
The acquisition represents a significant milestone in the development of Ocorian’s growing international portfolio of financial services, increasing its presence in Luxembourg to over 80 in-country experts, extending its capability in both regulated and unregulated funds and alternative investments, including AIFMD depositary services and providing a full range of corporate and domiciliation services, including director services and office rental facilities.
Established in 2003, MAS brings
The Lyxor Hedge Fund Index was up slightly (+0.3 per cent) in December, with four out of eight Lyxor indices recording positive results.
CTAs finished on strong gains due to high diversification within portfolios. Long allocations to energy, DM equities and their stance on USD (short JPY, long EM FX) provided them with tailwinds.
L/S Equity Neutral managers lagged due to sector rotation and their sensitivity to momentum stocks.
Long materials and energy positions boosted the L/S Equity Variable bias funds in December.
Merger Arbitrage outperformed their peers, fuelled by tightening of M&A deal spreads including Time
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for December 2017 measured 0.84 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 1.35 per cent in January.
“SS&C GlobeOp’s Capital Movement Index for January 2018 showed net flows of -1.35 per cent, which should be viewed as a very strong result considering January typically produces significant net outflows for hedge funds,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “In fact, on a year-over-year basis, the -1.35 per cent for January 2018 represents a sharp improvement from the -3.30 per cent reported
Societe Generale Prime Services has launched a new SG Multi Alternative Risk Premia Index, a performance benchmark for alternative risk premia managers who employ investment programs diversified across multiple asset classes and multiple risk premia factors.
The new Multi Alternative Risk Premia Index is the fifth daily index designed and calculated by Societe Generale. The Prime Services daily indices are an industry leading suite of performance benchmarks, based on the largest, most representative programs in their respective strategies. The indices calculate the daily rate of return for an equally weighted group of managers that are open to new investment and
SS&C Technologies Holdings is to acquire DST Systems, a provider of proprietary technology-based information processing and servicing solutions.
Under the terms of the agreement, SS&C will purchase DST in an all-cash transaction for USD84 per share plus assumption of debt, equating to an enterprise value of approximately USD5.4 billion.
DST is a global provider of specialised technology, strategic advisory and business operations outsourcing to the financial services and healthcare industries. DST provides solutions through a unique blend of industry knowledge and experience, technological expertise and service excellence to clients across asset management, brokerage, retirement and healthcare. Headquartered in Kansas
Northern Trust Corporation has reached an agreement with Citadel to bring Omnium technology development in-house – including a team of key development professionals as well as software development rights for its Omnium technology platform.
The agreement gives Northern Trust greater control over technological enhancements. Additionally, the transaction enables deeper collaboration between Northern Trust’s operations professionals and the team of developers to provide innovative solutions for alternative fund managers, asset managers, institutional investors and family offices worldwide.
Northern Trust acquired Citadel’s hedge fund administration business (Omnium®) in 2011 and licensed their middle and back office investment technology. That business, now
Gemini saw a surge in hedge and alternative fund clients during 2017, and expects this strong momentum to continue into 2018.
David Young (pictured), President of Gemini’s hedge funds and alternatives business lines, says: “We have a track record of responding rapidly when managers need to get to market with unique strategies, instruments, and specialised wrappers. Our team-based consultative approach enables us to support new investment structures, instruments, accounting methods, portfolio affects, and asset types.”
To support this continued growth and expansion, Gemini recently promoted Skyler Steinke to Senior Vice President of Business Development for Hedge/Alternatives.
Steinke says:
Hedge funds gained 1.21 per cent in December according to the Barclay Hedge Fund Index compiled by BarclayHedge. The index was up 10.44 per cent at the end of 2017.
“Tax reform in the US helped to propel the rise in global equities in December,” says Sol Waksman (pictured), founder and president of BarclayHedge.
The Event Driven Index soared 2.51 per cent in December, Technology was up 2.30 per cent, and Distressed Securities gained 2.19 per cent. Emerging Markets gained 1.79 per cent, Healthcare and Biotechnology added 1.53 per cent, and Pacific Rim Equities were up 1.15 per cent.
Fixed
Catalyst Funds, an alternative-focused mutual fund company, has partnered with BNP Paribas to create the BNP Paribas Catalyst Systematic Alpha Index (the BNPP CASA Index).
Additionally, Catalyst has launched the Catalyst Systematic Alpha Fund (ATRAX), which provides exposure to the newly-created index.
The BNPP CASA Index allocates between seven different strategies developed by BNP Paribas’ Quantitative Investment Strategies (QIS) group, each specifically designed to harvest non-traditional sources of returns. Using a rules-based, risk-budget model, the BNPP CASA Index systematically allocates across each of these strategies, as frequently as daily, and is designed to adapt to various market conditions. Although
