Funds
Markit, a provider of financial information services, has completed its acquisition of CoreOne Technologies, a provider of regulatory reporting, index management, data management and prime brokerage services to financial institutions.
The acquisition strengthens Markit’s Information and Solutions businesses with CoreOne’s capabilities in regulatory reporting, index and ETF services, and data management services. In addition, it extends Markit’s capabilities into prime brokerage.
CoreOne has more than 500 customers including global banks, asset managers, wealth managers, sovereign wealth funds, investor services firms, custodians and exchanges. The company is supported by a team of 200, with headquarters in New York and additional
Average daily volume (ADV) at the CBO Futures Exchange was up 40 per cent from September 2014, but down 18 per cent from August 2015, when CFE recorded its second-busiest month of all time.
Total volume in futures on the CBOE Volatility Index (VIX Index) for September was 5.3 million contracts, up 41 per cent from September 2014, but a decrease of 17 per cent from August 2015. September VIX futures’ ADV was 251,207 contracts.
Exchange-wide ADV at CFE was 251,376 contracts in September, an increase of 40 per cent from September 2014 and down 18 per cent from
Calamos Investments has strengthened its position in the global alternatives space with the acquisition of San Francisco-based global long/short manager Phineus Partners.
Founded in 2002 by Michael Grant, Phineus is a fundamentally-driven investment firm that, like Calamos, employs a blend of bottom-up and top-down considerations and has built customised portfolios for private investors, families, endowments and institutions.
"Following a rigorous due diligence process, we are impressed with the investment capabilities that Michael and his team have built," says John P Calamos, Sr (pictured), CEO and Global Co-Chief Investment Officer. "Michael and his team will be a great addition to
NexPoint Credit Strategies Fund is to execute a 1-for-4 reverse stock split of the fund's issued and outstanding shares to take effect on 6 October, 2015.
As a result of the reverse stock split, every four outstanding Fund shares will be converted into one share, thereby reducing by a factor of four the number of shares outstanding. Each stockholder will hold the same percentage of the Fund's outstanding common stock immediately following the reverse stock split as such stockholder held immediately prior to the reverse stock split, subject to adjustments for fractional shares resulting from the reverse stock split. Stockholders will be
Lazard Asset Management (LAM) has launched the Lazard European Alternative Fund, which is UCITS compliant, utilises bottom up stock selection and is a liquid portfolio of approximately 60 long and short positions in European large- and mid-cap companies.
The Fund will be managed out of London by Leopold Arminjon (pictured). He will be supported by Portfolio Manager/Analyst, Nitin Arora, who recently joined from HSBC, where for the past five years he was a lead equity research analyst covering asset managers, specialist lenders and international dealer brokers as well as European investment banks.
Arminjon, who began working in the investment
Wells Fargo’s Global Fund Services has launched Fund View, an operational system for managing and analysing the middle- and back-office operations, fund accounting, and regulatory and investor servicing functions of hedge funds and private equity funds.
"Fund View provides managers with operational information on a real-time basis enabling them to better manage and analyse post-trade activities,” says Christopher Kundro (pictured), head of Global Fund Services. “It will provide our customers with the critical information they need for monitoring and measuring operational activities, analysing and mitigating operational risk, and ultimately ensuring that their funds are operating efficiently and effectively.”
Fund
Moscow Exchange securities broker BCS Financial Group has made its first move into the North American market with the acquisition of Alforma Capital Markets, the wholly-owned New York-based subsidiary of Alfa-Bank.
BCS’ holding company and AO Alfa-Bank have signed an agreement where BCS will acquire 100% shares in the US broker/dealer upon receipt of US regulatory approvals. The company is due to be rebranded as BCS Americas Inc., and current CEO, David Denson will continue in his position. The business will continue to provide brokerage and investment services to US-based institutional clients seeking to access Russian markets.
Both parties
AIP Private Capital (AIPPC) and AIP Asset Management (AIPAM), as security agent on behalf of certain of its funds, accounts and partners, are to acquires USD5 million in secured convertible notes and secured non-convertible from Capital Guardian Holding.
Each Holder has the right to convert at any time the convertible notes held by it into voting membership interests of Capital Guardian.
Capital Guardian is a specialist in the Independent Securities Brokerage business and is a diversified hybrid Broker-Dealer, RIA, and Wealth Management firm with corporate offices in New York, Palm Beach, Miami, Naples, and Charlotte. Capital Guardian has approximately
Eurex Exchange, the international derivatives market of Deutsche Börse Group, is to launch a new equity index contract on 28 October 2015. The Mini DAX Futures will be offered in addition to the existing DAX Futures (FDAX) with a significantly lower contract value, at only a fifth of the DAX Futures.
“The new Mini DAX Futures contract addresses together with the existing DAX Futures the needs of our users for more precise fine-tuning of their hedging positions,” says Mehtap Dinc (pictured), member of the Eurex Executive Board. “At the same time, it is also aimed at semi-professional investors who are
The Association of the Luxembourg Fund Industry (ALFI) has published Frequently Asked Questions to provide general guidance to Luxembourg investment funds and their management companies wishing to apply for an RQFII Licence and an RQFII Quota.
The publication of these FAQs follows the announcement by the People’s Bank of China on 29 April 2015 granting a RMB50 billion Qualified Foreign Institutional Investor (RQFII) quota to Luxembourg. The RQFII scheme was launched in Hong Kong in 2011 and has been expanded to other jurisdictions since 2013, allowing an increased volume of offshore RMB to be reinvested into the Mainland securities markets.
