Funds
To help alternative investment managers better manage their liquidity and cash flow, Northern Trust Hedge Fund Services has enhanced its suite of treasury services with the addition of a proprietary Cash Projection service.
The service provides a flexible and comprehensive forecast of cash flows, allowing clients to monitor all upcoming cash activity and account balances.
“In today’s financial markets, fund professionals need timely and accurate cash balance information,” says Peter Sanchez, head of Northern Trust Hedge Fund Services. “We’re moving beyond beginning-of-day cash balance reports to offer tools that deliver real-time updates so clients can actively manage their liquidity and
The London Metal Exchange (LME) has launched LMEshield, a new electronic warehouse receipt system for the global commodities market. The first receipt was issued by Henry Bath & Son Ltd on behalf of BNP Paribas Arbitrage SNC.
LMEshield is a custody tool that issues and manages electronic receipts relating to commodities stored off-warrant in a range of global locations. At go-live, LMEshield is available in 19 jurisdictions, including countries new to the LME storage network such as India, South Africa and Chile.
“We recognise that there is a need for a reliable standard for warehousing worldwide,” says Matthew Chamberlain (pictured),
The hedge fund industry saw net outflows of investor capital in Q1 2016, totalling USD14.3 billion, with CTAs and multi-strategy funds the only major strategies to see new inflows, according to figures released by Preqin.
This continues from the USD8.9 billion overall net outflows that funds recorded in Q4 2015, and is in contrast to the USD28.8 billion that the industry gained in investor capital in the same period last year. Overall, the total assets under management held by hedge funds globally fell 0.48 per cent in the quarter, to stand at USD3.13tn at the start of Q2.
CTAs and
PGIM’s UCITS platform has surpassed USUSD1 billion in assets, as of 31 March, 2016, through its first 10 funds with more funds to be launched in the coming year.
The funds are based on existing strategies managed by PGIM’s wholly-owned investment managers, PGIM Fixed Income, Jennison Associates, QMA, and Pramerica Real Estate Investors. The funds are available to institutional investors or to individual investors through intermediaries and institutional fund platforms.
“Growing our UCITS product line is a significant initiative for PGIM across our multi-manager model since adopting our new brand earlier this year,” says David Hunt (pictured), CEO of PGIM.
CME Group has reported record revenue of USD934 million and record operating income of USD574 million for the first quarter of 2016. Net income was USD368 million and diluted earnings per share were USD1.09.
Adjusted for non-recurring items, net income would have been USD390 million and diluted earnings per share would have been USD1.151.
"Our record first-quarter financial performance was driven by our highest quarterly average daily volume to date, including record volumes in energy, overall options and electronic options," says CME Group Executive Chairman and President Terry Duffy (pictured). "We delivered record revenue and operating income, and 17
Tradition Group is planning to launch Elixium, a new EU-regulated Multilateral Trading Facility (MTF) for collateral and secured deposits, in May 2016.
Elixium has been developed to address the growing need for a transparent, open to all, peer-to-peer, regulated marketplace. It seeks to address the growing liquidity concerns that have emerged as a result of changes in regulation and the subsequent composition and availability of balance sheets.
Elixium uses a standardised legal structure, uniform collateral schedules and an underlying credit matrix which allows for rapid counterparty diversification and helps spread counterparty risk to provide a solution that brings all market
Broadridge Financial Solutions has launched its new Solutions Partner Program, a global channel sales initiative that enables leading consulting, technology and servicing firms to offer expanded technology solutions that leverage the company’s suite of products and services as well as resell its solutions into select customer accounts.
Broadridge has hired 20-year industry veteran Ira Newman to lead the Program.
Broadridge’s Solutions Partner Program provides a flexible forum for partners, including consulting, technology and servicing firms, to develop new offerings, explore common customers and reach new clients. It offers partner firms global access to proven technology solutions across Wealth Management,
Barak Fund Management, an Africa-focused alternative fund management company, has chosen TFG Financial Systems to provide it with TFG Complete, TFG’s fully integrated middle office and risk management system.
TFG will be supporting two new Barak funds, investing in the commodities and forex markets respectively.
Barak is a specialist in commodity-focused investment opportunities and trade finance across the sub-Sahara African region. Based in Mauritius (with the Advisory team sitting in South Africa), Barak invests across 30 African countries, with particular focus on the soft commodities and food product-related sectors.
Lourens Harmse (pictured), Fund Manager of the new Barak Sarafu African
Schroders has launches the Schroder Alternative Solutions Commodity Total Return, a new fund offering commodities exposure with a flexible approach, allowing it to take advantage of a wide range of opportunities, as well as limit downside risk.
The fund will invest in energy, agriculture and metals sectors worldwide and will adopt a highly flexible strategy which includes the ability to take short positions and the use of leverage.
The fund will be managed by Schroders’ commodities team, led by Geoff Blanning. Schroders has strengthened its investment resources in commodities in the past two years with the hiring of a Metals
BNP Paribas Investment Partners, Odey Asset Management and Sumitomo Mitsui Trust Bank are the newest members of the International Accounting Standards Board’s (IASB) Investors in Financial Reporting programme.
The programme was established in 2014 to increase the Board’s engagement with the investment community. The new joiners bring the total number of investment organisations in the programme to 18. The other members of the programme are Aberdeen Asset Management, Allianz Global Investors, APG Asset Management, AustralianSuper, BlackRock, Caisse de dépôt et placement du Québec, Fidelity Worldwide Investment, Henderson Global Investors, Hermes Investment Management, Insight Investment, Lazard Asset Management, Nomura Asset
