Funds
This extract from the Preqin Quarterly Update: Real Estate, Q3 2015 examines current closed-end private real estate funds in market, looking at target capital, primary geographic focus, time spent on the road and a sample of the largest funds currently fundraising.
The number of closed-end private real estate funds in market has increased slightly since Q2, with 463 vehicles currently seeking USD160 billion in capital (Fig 1). The make-up of funds in market at the start of Q4 2015 remains relatively consistent, with the majority of funds in market and aggregate target capital focused primarily on North America (Fig 2).
The Abbey Capital Futures Strategy Fund, alternative investment manager Abbey Capital’s first liquid alternative mutual fund, which launched on 1 July 2014, has surpassed USD250 million in assets under management as at 30 September 2015.
The fund, which has returned over 22 per cent since its inception, offers individual and institutional investors access to a multi-manager managed futures mutual fund, comprising leading managed futures managers, and leveraging Abbey Capital’s expertise in manager selection, portfolio construction and risk management.
“The performance of the Fund since inception shows its value for investors as part of a diversified portfolio,” says Tony Gannon
Luxembourg's funds industry is marching ahead as Europe's leading funds domicile if figures released by the Association of the Luxembourg Funds Industry (ALFI) are anything to go by. According to ALFI, March saw the Grand Duchy enjoy record net sales and a growth of AUM.
Total assets now total EUR3.53 trillion, a 3.55 per cent increase for the month and a 13.89 per cent increase since the start of the year. In addition, net sales topped EUR49.92 billion.
Over the last 12 months, Lux-domiciled funds have seen their net assets grow more than 30 per cent. The low interest rate
Eze Software Group is to acquire TKS Solutions, a specialty software provider of shareholder and partnership accounting tools. The value of the deal, which is expected to close next month, has not been disclosed.
TKS Solutions’ core product, known as Penny It Works, will add partnership and shareholder reporting capabilities to the existing portfolio accounting and portfolio management tools in Eze Software Investment Suite. Top asset managers and fund administrators leverage Penny to calculate fees and generate statements for any type of fund in a controlled and auditable environment. The TKS suite also contains a fee calculator that will calculate
The leading international provider of specialist business and finance training courses has announced plans to launch a specialised risk management and financial regulation training centre.
Eureka Financial has revealed plans to launch a specialised risk management and financial regulation training centre.
With the company already operating several specialised training offices around the world – including in key locations such as London and Dubai – Eureka Financial’s planned expansion is expected to increase the number of learners who choose to study with their specialist instructors in areas such as Corporate Governance, Operational Risk Management, Financial Regulatory Compliance and many more.
Bitcoin and other virtual currencies can be exchanged tax free in Europe, just like traditional currencies, following a ruling by the EU Court of Justice in Luxembourg.
The Swedish tax authorities had argued that crypto currencies should not be covered by the European Union Directive that currently exempts currency transactions from VAT or sales taxes. But the court’s ruling now affords digital currencies like Bitcoin the same tax-free standing as traditional currencies throughout the 28 countries of the EU.
According to Michael Kent, CEO and founder of digital money transfer company Azimo, the Court of Justice ruling is a big development
The last quarter’s private equity fundraising is analysed in this extract from the Preqin Quarterly Update: Private Equity, Q3 2015.
With the third quarter of the year typically slow for fundraising, it is surprising to see Q3 2015 as the best quarter in 2015 so far in terms of aggregate capital raised. There were 178 funds that reached a final close, securing an aggregate USD137 billion (Fig 1). The number of funds raised, however, has seen a sharp drop from the previous quarter, causing a marked rise in the average private equity fund size.
Buyout funds in particular collected
MarketAxess has reported strong results for Q3 including revenues of USD74.2 million – an increase of 15.5 per cent on the same period in 2014.
“Our third quarter results reflect strong market share gains across all of our core products. In spite of less favourable credit market conditions during the quarter, we reached record estimated market share levels in both US high-grade and high-yield bonds,” says Richard M McVey, Chairman and CEO of MarketAxess. “Adoption of our Open Trading solutions is growing and we saw new records during the quarter for Open Trading volume and trade count. We continue to increase
Poor fund performance, driven down by the global market volatility in the third quarter, and the loss of an advisory mandate, have pushed assets down at Gottex Fund Management, according to its latest trading statement.
To end September 2015, the firm saw total fee-earning assets for the group of USD8.25 billion compared to USD8.55 billion at June 30 2015.
However, the firm writes that their new Alternative Risk Premia initiative, launched in August with an initial mandate totalling USD200 million, outperformed their traditional exposure on a relative basis over September.
The firm adds that it is streamlining
The SS&C GlobeOp Forward Redemption Indicator for October 2015 measured 2.96 per cent, down from 3.79 per cent in September.
“SS&C GlobeOp’s Forward Redemption Indicator of 2.96 per cent for October 2015 is down sharply from 3.79 per cent for the previous month and is also down year-over-year compared to 3.12 per cent for October 2014,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “This marks a reversal of last month’s uptick in the Forward Redemption Indicator, perhaps suggesting that the bulk of investors’ rebalancing in the face of elevated market volatility has been accomplished.”
The SS&C
