Funds
FundRock Management Company has been selected by CRUX Asset Management to provide management company services to its new UCITS fund, the CRUX Global Fund.
Services include the supervision of the delegated functions (portfolio management, central administration, distribution) and risk monitoring.
Established in 2014, CRUX Asset Management is an employee-owned fund management firm headquartered in London. The CRUX Global Fund will launch one sub-fund at the outset, the CRUX European Special Situations Feeder Fund, and will invest the majority of its assets into the GBP1.5 billion FP CRUX European Special Situations vehicle. The new fund will launch on 15 May 2017.
Michael Platt is the wealthiest hedge fund manager in the UK, according to the new edition of The Sunday Times Rich List, to be published on 7 May.
Platt (pictured), the co-founder and managing director of London-based hedge fund BlueCrest Capital Management, has seen his wealth go up GBP300 million in the past year.
The firm now only handles the wealth of partners and members after Geneva-based Platt, 49, called time last year on managing money from outside clients. The move worked as the fund reported a 50 per cent gain during 2016.
The business, which was valued at GBP1.51 billion in 2011,
Wellfleet Credit Partners, the credit business of private investment firm Littlejohn & Co, has closed a USD457.8 million collateralised loan obligation (CLO), Wellfleet CLO 2017-1, the fourth CLO issuance for the firm.
Benefitting from supportive market conditions and investor receptivity, CLO 2017-1 was upsized approximately USD50.0 million during marketing.
With the completion of this CLO, Wellfleet is managing four CLOs that total over USD1.5 billion in aggregate.
The CLO will be backed by a diversified portfolio of broadly syndicated senior secured loans. Five classes of notes rated Aaa through Ba3 by Moody’s and one class of notes rated
HSBC Securities Services (HSS) has been mandated as custodian and fund services provider by US-based asset manager DoubleLine Capital for its new Luxembourg UCITS umbrella.
The new umbrella has initially launched with two sub funds, with potential further sub funds being introduced in 2017, and is aimed at allowing DoubleLine to mirror successful strategies it has in the US and market those to European investors.
Carol Hughes, head of client services, securities services, HSBC in Luxembourg, says: “We are delighted through the expertise we have in administering Luxembourg UCITS funds to be able to support DoubleLine as they expand
Hedge funds investing in emerging Asia, specifically in India and China, posted the strongest quarterly performance since Q2 2015, benefitting from improving investor expectations for global growth and favourable currency market trading in Q1 2017.
That’s according to the latest HFR Asian Hedge Fund Industry Report which reveals that the HFRX India Index surged 19.05 per cent in Q1, its strongest quarterly gain since 2Q09, and topping Indian equity performance, as measured by the BSE Sensex 30 Index, by 780 basis points, leading all HFR indices for the quarter.
Despite the strong performance, total capital invested in Asian-focused hedge
The European Energy Exchange (EEX), part of Deutsche Börse Group, has closed on its acquisition of Nodal Exchange.
Through this acquisition, EEX Group enters the North American energy trading markets, thereby expanding its global presence and membership base in line with its growth strategy.
“With the acquisition of Nodal Exchange we are taking the next step towards our vision of EEX Group as a global commodity exchange,” says Peter Reitz (pictured), chief executive officer of EEX.
“Nodal Exchange has enjoyed significant growth in recent years and we are very excited to build on this as part of EEX
Cohen & Steers is to launch the Cohen & Steers SICAV Global Preferred Securities Fund as part of its Luxembourg UCITS platform on 15 May 2017.
Cohen & Steers has been investing in the preferreds market for more than a decade; its US-based Cohen & Steers Preferred Securities and Income Fund is the largest actively managed preferred securities fund in the world.
“The launch of the fund is the latest step in Cohen & Steers’ commitment to bringing our core competencies in alternative income and real assets to European and other investors worldwide,” says Robert Steers, the firm’s chief
One of the clearest messages that came out of CAIS 2017 was that the world is changing in innumerable ways that have the capacity to shock and destabilise. One only has to refer recently, to Brexit and the outcome of the US presidential election, to appreciate that uncertainty is the only known certainty to contend with in an ever more complex, interconnected world.
As KPMG's Cowell said, headline risk seems to dominate decision making: "It's unlikely that markets will be able to deliver on expectations. Turbulence in China and uncertainty in US markets is causing an institutional shift in investing.
The alternatives industry has a duty to not only defy gravity and deliver strong returns, but to do so in a way that can genuinely change the world for the better, inspiring the next generation of star managers and investors.
Cognisant of its importance, CAIS 2017 focused on philanthropy and impact investing and emerged as key themes among panellists. It demonstrated a collective vision of responsible investing in new technologies and energy initiatives, to make the world a better place. And a commitment to philanthropic endeavours to bring people out of poverty, not just in the developing world, but first
There was no shortage of idea generation when it came to discussing the various ways alternative fund managers are trying to overcome the gravitational effects of market forces in a bid to boost returns.
As markets begin to normalise, fundamental-focused active fund managers are seeing more opportunities to trade both long and short, while credit markets are offering opportunities, especially for those pursuing relative value strategies to profit from tightening spread ratios between investment grade and high yield corporate bonds.
But this is no time for managers to rest on their laurels. The alternatives industry, as a whole, remains vibrant but
