Funds
Portcullis Asset Management Limited is launching as a Malta based Alternative Investment Fund Manager (AIFM) to assist alternative investment funds to comply with the Alternative Investment Fund Management Directive (AIFMD).
Portcullis has appointed David Barry to the board and as its new CEO. Barry joins Portcullis from TMF Custom House Group where he was Head of Sales and Business Development and part of the Executive Committee. Barry has over fifteen years experience across the EU and US funds industry. He is a Fellow of the Association of Chartered and Certified Accountants.
As a regulated AIFM, Portcullis will assume responsibility for
Bank of America Merrill Lynch (BofAML) will be a participant of the GMEX Exchange when the exchange launches on 7 August 2015. BofAML will offer execution and clearing services, for the GMEX products, to its client base.
The initial products traded will be GMEX’s pioneering Interest Rate Swap Constant Maturity Futures (IRS CMF) contracts, backed by Eurex, which bring the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and hedging of interest rate exposure.
Bank of America Merrill Lynch will provide clearing, execution and settlement services for the IRS
July average daily transaction value on the Euronext cash order book stood at EUR7,911 million (+38 per cent compared with July 2014). Activity on ETFs remained dynamic with an average daily transaction value at EUR513 million, up 81 per cent on July 2014.
In July, the average daily volume on equity index derivatives was slightly down at 208,718 contracts (-8 per cent compared with July 2014), and the average daily volume on individual equity derivatives was down at 215,648 contracts (-21 per cent compared with July 2014). The exchange’s effort to develop the retail activity in Amsterdam paid off again
Aberdeen Asset Management is to acquire Arden Asset Management (Arden), a provider of hedge fund solutions with offices in New York and London.
This acquisition is in line with Aberdeen’s strategy to strengthen and grow its global alternatives platform encompassing multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects. This means that Aberdeen can offer its clients access and exposure to high quality alternative investments across liquid strategies, private markets and real assets.
Arden is a hedge fund specialist that creates and manages hedge fund portfolios across the liquidity spectrum using
Three of Market Vectors Index Solutions (MVIS) six investable Long/Short Equity Indices recorded positive performance in July.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Western Europe Long/Short Equity Index led the way wiyh a return of 1.80 per cent followed by the Market Vectors Global Long/Short Equity Index (1.61 per cent) and the Market Vectors Emerging Markets Long/Short Equity Index
(0.26 per cent).
The month’s biggest loser was the Market Vectors Asia (Developed) Long/Short Equity Index which was down
The new DC Charge cap on default funds may eventually drive trustees to source products based on cost rather than the value that a well-sourced selection of investment solutions should deliver for their members.
That’s the concern of Aurum, a specialist alternative investment manager focused on hedge fund solutions.
Kevin Gundle (pictured), CEO of Aurum Funds Limited, says: "The charge cap restricts the ability of investment managers to provide innovative solutions that provide greater value to pension fund members. This industry could be in real danger of being left with a series of conventional, undifferentiated, low-cost products in a race
American Century Investments has expanded its line of alternative mutual funds and created a new brand – AC Alternatives from American Century Investments.
The new suite of mutual funds includes the new subadvised multi-manager AC Alternatives Income (ALNNX-Investor Class) fund and two existing American Century-managed mutual funds, Equity Market Neutral (ALHIX-Investor Class) and Market Neutral Value (ACVVX-Investor Class). The latter two have been rebranded with the AC Alternatives moniker.
American Century has engaged Perella Weinberg Partners Capital Management to provide investment management and allocation services and to recommend and interact with sub-advisors for AC Alternatives Income, as well as two
CME Group and FTSE Russell have entered into a licensing agreement establishing CME Group as a global partner for futures, options on futures and OTC cleared products on FTSE Russell.
"We're pleased to partner with FTSE Russell to help investors around the globe better manage equity index exposure," says CME Group Executive Chairman and President Terry Duffy. "Together, we will provide market participants with the capital efficiencies of trading multiple indexes on one platform and through a single clearing house."
"We are delighted to have signed an agreement with CME Group to develop a range of equity index futures products
Heading into the summer break, companies have continued to report earnings above expectations, especially in Europe. In the US, health care and consumer goods & services companies posted solid earnings, beating expectations as well. Yet, risk assets were under pressure, leading to negative returns for hedge funds this week.
Celoxica, a provider of accelerated market data, order entry and pre-trade risk solutions for the electronic trading community, has launched the Celoxica Ticker Plant (CTP) for OPRA.
OPRA, the Options Price Reporting Authority, which provides market data for 12 US options exchanges, is set for a substantial growth in message volumes later in 2015 when new options exchanges ISE Mercury and BATS EDGX Options go live. OPRA’s message capacity at that time is projected to be in excess of 50 million messages per second.
Celoxica’s CTP is a distributed ticker plant designed specifically to handle these unprecedented message volumes.
