Funds
It is a trend that has steadily gathered momentum over the last five years and one that shows no sign of abating: namely that the big US hedge fund groups continue to get bigger and attract most of the institutional money.
From a structuring perspective, large managers are increasingly choosing to establish funds-of-one to meet the specific needs of US institutional investors.
“Under Cayman law we don’t have the managed account concept so a fund-of-one is the preferred structuring option for these managers,” explains Joanne Huckle (pictured), Partner, Investment Funds Team, Ogier (Cayman Islands). “Institutional investors are becoming more demanding
Hedge funds have finally enjoyed a sustained period of good performance over the past 12 months, going some way to assuage investor concerns. The HFRI North America Index is up 5.54 per cent YTD, and up 8.68 per cent over a one-year period; slightly higher than the HFRI Fund Weighted Composite Index (7.16 per cent).
With equity markets continuing their bull run, it is proving to be a blessing for equity-focused hedge fund managers. On 12 October, the FTSE 100 index reached a record-high, closing at 7,556.24, largely in response to Brexit negotiations pushing the price of sterling lower. Since July
The European Energy Exchange (EEX) has achieved a new daily record in Phelix-DE Futures trading a total of 4.7 TWh, surpassing the previous record high of 3.0 TWh by more than 50 per cent.
In another key development, the Phelix-DE Futures is also gaining importance in short-term maturities before the planned split of the German-Austrian price zone in October 2018. Historically, a large share of German trading volumes for maturities beyond 2018 is already traded in Phelix-DE Futures on a regular basis. However, yesterday’s trading volumes in Phelix-DE day and weekend contracts also exceeded the volumes in Phelix-DE/AT day and
Intercontinental Exchange (ICE) has acquired a 4.7 per cent stake in Euroclear, a provider of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes, for EUR 275 million.
ICE anticipates having one representative join the Board of Euroclear.
“We are thrilled to become a shareholder of Euroclear,” says ICE Chairman and CEO Jeffrey C Sprecher (pictured). “Euroclear’s infrastructure plays an increasingly important role as technology, collateral, risk management and regulation continue to drive an emphasis on post-trade services. This transaction demonstrates our continued focus on expanding our investments in mission critical clearing
Guernsey continues to see a growth in inward migration of companies after the best quarter of growth this year, according to the latest figures.
The Guernsey Registry, which is responsible for tracking migrations both in and out of the island, reports that 23 companies migrated to Guernsey during the third quarter of 2017. With just four companies migrating out, it represents a net inward migration of 19 companies moving their domicile to Guernsey in one quarter alone.
That means the net migration of companies to Guernsey in 2017 stands at 36, as at the end of Q3. The latest
Intercontinental Exchange (ICE), an operator of global exchanges and clearing houses and provider of data and listings services, has completed its acquisition of the Bank of America Merrill Lynch Global Research division’s fixed income index platform, which will become part of ICE Data Services.
Terms of the agreement were not disclosed and the financial impact of the transaction will be immaterial to ICE in 2017.
“We’re excited to expand the breadth and scale of our index offering to give customers increased choice of third party benchmark solutions,” says Lynn Martin (pictured), President and COO of ICE Data Services. “With
The European Energy Exchange (EEX) and China Beijing Environment Exchange (CBEEX) have signed a Memorandum of Understanding (MoU) to form a strategic partnership for the joint development of the Chinese carbon market.
The MoU is concluded against the background of the Chinese national emission trading system (ETS), which is expected to be launched still in 2017 and set to become the largest carbon market worldwide in terms of covered emissions.
Within the scope of the MoU, EEX and CBEEX will evaluate how access to the Chinese ETS for international companies can be facilitated and vice versa and how all
By Alan Chu, Meyler Capital – The fund manager next door launches a brand new, state-of-the-art website. The manager in the upstairs office announces that he’s a keynote speaker at three industry-renowned conferences next quarter. Your friend from college starts a fund, and begins by releasing a video with all kinds of bells and whistles; you’re positive that it didn’t come cheap.
It’s hard to grasp why on earth these people are doing this.
“Why are they spending so much on promoting themselves??”
Perhaps they’ve hired a young gun who’s pitched them on modernising the firm. Or, they’ve given up
Despite redemptions of USD2.5 billion from hedge funds in September, Q3 ended with USD12.5 billion of inflows and the industry sitting at an all-time peak AUM, according to the latest Hedge Fund Industry Asset Flow Report from eVestment.
The proportion of funds losing assets in September was the highest of the year, and highest since December 2016. However, the proportion of managers who lost greater than 2 per cent, or greater than 5 per cent of their total AUM due to outflows was nowhere near the level seen in December. The proportion of all funds that lost greater than 2
Apex Group’s Apex Fund Services is to acquire Deutsche Bank’s Alternative Fund Services (AFS) business, a deal that will add USD170 billion in AUA and make Apex the eighth largest fund administrator in the world, and the largest independent administrator.
The deal reveals the rapid expansion of Apex since the company was recapitalised by Genstar Capital and simultaneously acquired Equinoxe Alternative Investment Services. The purchase of the AFS business is the most recent significant step in Apex’s movement towards its stated goal of being a top five global fund services business.
Apex’s global reach and connected operating model opens
