Funds
Global Advisors Investment Fund (GABI) has been admitted to the Official List of the Channel Islands Securities Exchange (CISE), becoming the first regulated bitcoin fund to be listed on any exchange globally.
The CISE has approved the admission to listing of all of the redeemable participating no par value shares of the open ended fund, which is managed by Global Advisors (Jersey) Limited.
GABI was launched in 2014 as the world’s first regulated bitcoin fund when it received certification as an Expert Fund from the Jersey Financial Services Commission.
Its listing on the CISE means that it joins
SS&C Technologies, a provider of financial services software and software-enabled services, has acquired Conifer Financial Services, an independent asset services firm, for an aggregate purchase price of USD88.5 million.
Senior management of Conifer will continue to lead the business.
Conifer has 200 clients worldwide representing USD110 billion of combined assets under administration (AUA). Headquartered in San Francisco and with offices in New York, Singapore and Nova Scotia, Conifer services pensions, endowments, foundations, family offices, RIAs, traditional asset managers, private equity and hedge funds.
The acquisition strengthens SS&C's market position on the West Coast and provides a wider array
Man Group is marking the 25th anniversary of Man FRM, a global alternatives investment specialist with USD12.8 billion of funds under management.
FRM was founded in 1991 in London as a hedge fund research consultancy and in 1997 launched its first client partnership solution and its flagship commingled portfolio product.
In 1998 the firm expanded into managed accounts to better serve clients and the firm’s own investment needs. In 2000 it was behind the development of the MSCI hedge fund indices in collaboration with Morgan Stanley.
In 2012, FRM was acquired by Man Group and combined with the
Och-Ziff Capital Management Group has closed its first European collateralised loan obligation (CLO) transaction, OZLME, totalling approximately EUR413 million.
The CLO, arranged by Bank of America Merrill Lynch, will be managed through Och-Ziff's affiliate, Och-Ziff Europe Loan Management, and will invest predominantly in broadly syndicated senior secured loans.
"We are very pleased to announce the closing of our first European CLO," says Adeel Shafiqullah, managing director and senior portfolio manager of institutional credit strategies in Europe. "We have a deep, experienced team of credit investment professionals in Europe with significant and broad expertise investing and managing CLO portfolios. This
North America-focused hedge funds recovered from a 0.69 per cent loss in October to post returns of 2.89 per cent in November, the best performance of any region.
This takes North America funds’ 2016 YTD performance to 9.09 per cent, also the highest of any region.
By contrast, Europe-focused hedge funds posted smaller gains of 0.09 per cent in November, while Asia-Pacific funds suffered losses of 0.47 per cent, taking YTD performance to 1.07 per cent and 1.88 per cent respectively for the two regions.
Overall, November saw positive performance across the hedge fund industry; the Preqin All-Strategies
Hedge fund launches declined in the third quarter, as funds again posted steady gains following the Brexit vote and leading into the surprise US Presidential election results.
New launches totalled 170 in Q3 2016, down from 200 in the prior quarter and 269 in Q315, according to the latest HFR Market Microstructure Report.
The number of launches in Q3 2016 represents lowest since Q1 2009 and marks the fourth consecutive quarter of net contraction in the overall number of active funds. A total of 576 funds have launched in the first three quarters of 2016, a decline of over
Rational Funds, a family of funds rooted in the investment philosophy of applying a rational approach to investing, has converted its first hedge fund to a mutual fund product.
The Rational Dynamic Momentum Fund (RDMIX), which was converted from Chesapeake Capital Corporation’s flagship hedge fund, offers investors a managed futures strategy with a track record dating back to 1994.
The strategy of RDMIX is based on capital appreciation uncorrelated to global equity markets by investing in long and short positions on futures contracts, forward contracts and options on futures contracts. Investments are made across a globally diversified universe of
Societe Generale Prime Services has made three changes to its flagship SG CTA Index for 2017 – one new constituent and two strategy rotations – following its annual CTA indices review.
Tom Wrobel, director of alternative investments consulting at Societe Generale Prime Services, says: “We welcome GSA Capital Partners to both the SG CTA Index and SG Trend Index, whilst Graham Capital Management and MAN Investments have both substituted constituent programs, reflecting changes in the evolving CTA asset landscape. Whilst the turnover in index constituents is low, the industry is growing, and the asset cut-off for inclusion in all index
Hedge fund managers have become more upbeat about the Brexit result in the intervening five months, according to a new report published by Preqin.
Preqin surveyed 276 hedge fund managers and 108 investors in November 2016 to see how their views on Brexit have changed since the referendum result. The report – Impact of Brexit on Hedge Funds – combines the results of that survey and comprehensive data taken from Preqin's online services.
As the majority of fund managers believed the UK would vote to remain in the UK (71 per cent), it is unsurprising that a large proportion were caught out by the
Acadian Asset Management, a USD74 billion quantitative equity investor, has launched the Acadian Sustainable Emerging Markets ex Fossil Fuel UCITS Fund.
The fund is the first of its type to focus on implementing this theme across emerging markets.
Anchored by a significant investment from a UK institutional investor advised by Cambridge Associates, the global investment firm, the fund has been created to help meet growing investor demand for divestment within portfolios, while maintaining investment returns, and ensuring investors are not penalised for investing in a sustainable manner.
Using a combination of third-party data and its own proprietary methods,
