Funds
Tortoise Credit Strategies has launched its first mutual fund, The Tortoise Select Income Bond Fund, which is structured as a 1940 Act regulated investment company, and designed after the firm’s flagship core plus bond strategy.
The fund aims to seek a high level of total return with an emphasis on current income.
“We’re pleased to meet investors’ needs for access to Tortoise’s core plus strategy through a mutual fund,” says Tortoise senior managing director, Michelle Kelly. “This is an important step toward expanding the opportunity for investors to invest with Tortoise Credit.”
“The Tortoise Select Income Bond Fund
Liquid real asset specialist firm Cohen & Steers has launched an active commodity fund, offering investors broad and diversified exposure to commodities through an active, long-biased investment approach based on rigorous fundamental research.
The Cohen & Steers Active Commodities Fund is a newly launched sub-fund of an Irish Collective Asset Management Vehicle (ICAV) authorized as a Qualifying Investor Alternative Investment Fund (QIAIF). The fund will maintain exposure to a diversified range of commodities, primarily in global exchange traded futures contracts from all commodity sectors including energy, industrial metals, agriculture, livestock and precious metals.
The fund is managed by Cohen &
Vivaris Capital has created what it says is the first private equity hedge fund, which is designed to deliver superior alternative asset returns while mitigating downside risk.
The structure deployed by Vivaris uses a portfolio of investment grade securities to diversify risk and to provide liquidity.
The investment strategy targets middle-market, well-established companies and late-stage technology businesses that are at an inflection point and poised for growth. Capital and aggressive management then drive product, sales and market expansion.
The fund also invests in and acquires value-added residential and commercial real estate developments where renovations and marketing can lead
Boutique asset manager 361 Capital has launched the 361 US Small Cap Equity Fund, which is designed for investors who are looking for opportunities to boost their returns through small cap exposure.
Stemming from 30 years of research, the fund’s approach is based on a quantitative process that seeks to take advantage of earnings estimate revisions by investment analysts.
The strategy was launched nine years ago and was previously only available through institutional separate accounts.
The fund is managed by 361’s co-chief investment officer John Riddle (pictured) and managing director and portfolio manager Mark Jaeger.
“This is
Dash Financial is to merge with LiquidPoint to create a new trading technology solutions provider focused on the options and equities markets.
Dash Financial is an institutional trading technology, execution and analytics provider, while LiquidPoint is a provider of options technology and routing services to the sell-side and exchange communities.
Private equity firm GTCR will be contributing LiquidPoint from portfolio company Convergex to merge it with Dash.
The combined entity will operate as Dash Financial Technologies and be majority owned by GTCR. It will have a 13 per cent market share in the US options agency execution space. The independent
Marble Point Credit Management has acquired American Capital CLO Management (ACCLOM), an investment manager with approximately USD3.4 billion in assets under management across eight collateralised loan obligation (CLO) vehicles as of December 2016.
The acquisition is expected to provide meaningful benefits to Marble Point and accelerates its business plans and objectives. The transaction will also diversify and significantly expand Marble Point’s investor base.
“The acquisition of the ACCLOM platform represents a significant milestone in Marble Point’s development,” says Thomas Shandell (pictured), chief executive officer of Marble Point. “We believe investors globally will seek to increase their exposure to the
Man Group has completed its previously announced acquisition of Aalto Invest Holding (Aalto).
Luke Ellis (pictured), CEO of Man Group, says: “We are delighted to have completed the acquisition of Aalto, which is a key step in the development of Man Global Private Markets, our new investment engine for private asset classes, and in the ongoing diversification of Man Group. The acquisition of Aalto represents an attractive opportunity for clients, who will have access to longer term investment strategies offering a complementary risk reward profile to our current products.”
Aalto will be a central component of the newly formed
Smaller hedge fund managers will continue to outperform during 2017, according to Don Steinbrugge Managing partrner of Agecroft partners, who has revealed what he sees as being the top hedge fund industry trends for the coming year.
Steinbrugge highlights that, year to date through November 2016, smaller funds significantly outperformed larger funds, as demonstrated by the HFRI Fund weighted composite, which was up 4.54 per cent vs the HFRI dollar weighted composite's gain of only 1.90 per cent. He sees one of the biggest issues within the hedge fund industry as being the high concentration of flows to the largest managers with the strongest brands with almost 70
Lyxor’s Cross Asset Research team has released a report on the performance of active mutual funds versus their benchmarks in 2016. The team writes that it would be an understatement to say that active investing has been challenged in 2016.
“Political risks loomed large and the switch from deflation fears to reflation hopes in H2 led to sizeable trend reversals across the board. This took most investors by surprise.”
The result was that hedge funds underperformed global equity and bond indices in 2016, while active mutual funds failed to beat their benchmarks.
“A very small proportion of both European and
Euronext has made an irrevocable EUR510 million all-cash offer to LCH.Clearnet Group Limited (LCH.Clearnet Group) and London Stock Exchange Group (LSEG) to acquire LCH.Clearnet SA (Clearnet).
Clearnet is a leading, multi-asset, Eurozone-based Central Counterparty (CCP) serving Euronext’s markets, pan-European electronic trading platforms and OTC markets, with gross income of EUR137 million and profit after tax of EUR36 million in 2015, and shareholders’ equity of EUR301 million.
Clearnet has commenced a period of consultation with its works council during which LSEG and LCH.Clearnet Group have granted exclusivity to Euronext.
Euronext says the acquisition will strengthen the company’s position at the heart
