Funds
Citi has launched futures trading functionality on Citi Velocity, the trading platform that provides clients with access to Citi’s research and liquidity across FX, Rates and Credit.
Launched in January 2012, Velocity 2.0 is continuously upgraded to include new features and asset classes. It provides clients with an integrated trading suite enabling fastest possible execution times, much enhanced liquidity and trade data tailored to the needs of each individual client. It is also a greatly simplified and streamlined platform, as various asset classes are grouped together seamlessly on a single desktop. The newly-added and comprehensive futures functionality includes a range
In this extract from the Preqin Real Estate Spotlight | June 2015, Abbie Smith examines the recent fundraising successes of private real estate funds focused on non-traditional property types, such as medical/healthcare facilities, senior homes, student housing and self-storage.
Fundraising
Preqin’s Real Estate Online contains extensive information on 131 funds which are focused solely on niche property types. Vehicles that solely target niche property have raised USD11.1 billion since 2009 (Fig 1). Fundraising was slower prior to 2013 with USD3.4 billion raised in the period, whereas since the start of 2013, more than double (USD7.7 billion) this amount has
Sky Fund LLC (Sky Fund), a regulated US asset management firm, has entered into an index advisory agreement with a European ‘A’ Rated bank by S&P and Fitch Ratings.
Sky Fund is the Index Advisor and the bank is the Index Sponsor of a new actively-managed index of liquid alternative UCITS funds called SkyRank Navigator. The index is priced by an independent pricing agent with headquarters in Frankfurt. The index is actively managed by Sky Fund and the bank is issuing a principal protected index linked note.
Sky Fund and the issuing bank have launched a 10-year note
Last week US Treasury bond and German bund yields spiked, both hitting a new 2015 high. On Thursday, 10-year German rates reached 1.0% before losing ground later in the day. Intraday volatility reached record highs and according to hedge fund managers, the main driver behind the moves in the fixed income markets is the lack of liquidity. Brokers and dealers hold a small and shrinking percentage of the Treasury market.
Pioneer Underwriting Limited has launched its Zero Capital AIFMD Investment Management Insurance Policy enabling full capital relief from the 'other funds' provision of the Alternative Investment Fund Managers Directive (AIFMD).
Current policies which meet the requirements of the directive, do not typically address the requirement that the policy excess be held as additional capital. Pioneer’s Zero Capital AIFMD Investment Management Insurance Policy, solves this problem by affording a nil excess for the first loss, requiring no additional capital to be held at the outset of the policy.
Richard Coello Head of Financial Institutions Underwriting at Pioneer, says: "I’m pleased
After months of gentle simmering, America's jobs market is back on the boil in a clear sign the US economy has cranked up the gas, says Marcus Bullus, trading director at MB Capital…
In the frantic minutes that followed the release of May's surprisingly strong jobs numbers, both the dollar and Treasury bonds were the big winners as the prospect of a September interest rate hike suddenly loomed larger.
But equities balked at the thought of the increasingly imminent removal of the economy's low interest rate crutch.
It's still an open question whether the US economy will stumble
The Enterprise Data Management Council (EDM Council) has received approval for Financial Industry Building Ontology (FIBO) Foundations as the first of thirty data content standards for the financial industry.
FIBO is an open standard for defining the business terms and relationships associated with financial instruments, pricing concepts and financial processes. These “common language” standards are used to align the way financial institutions describe complex financial instruments and financial processes so that industry participants and regulators can harmonise reporting, validate data quality, aggregate transactions and analyse risks across the global financial system.
According to David Newman, Chair of the
Hedge funds posted gains for the fourth consecutive month in May, led by Equity Hedge strategies, with significant contributions from Technology, Healthcare and Fundamental Value exposures, according to the latest data from HFR.
The HFRI Fund Weighted Composite (FWC) Index® advanced +0.7 per cent for the month, bringing YTD gains for the HFRI FWC through May to +3.9 per cent, leading both the S&P 500 and Dow Jones Industrial Average, while the HFRI Fund of Funds Index climbed +1.1 per cent for May and +4.0 per cent YTD.
Hedge fund strategy performance was led by the HFRI Equity Hedge Index,
Natixis has acted as Financial Advisor, Rating Advisor, Mandated Lead Arranger and Co-Hedge Coordinator for the EUR1.4 billion senior debt refinancing of French virtual power plant Exeltium.
The operation was achieved through an innovative financing structure, combining two pari passu tranches :
• a Bank Tranche of EUR1 billion;
• a tailored Institutional Tranche of EUR435 million, secured by Exeltium and bringing together 9 institutional investors.
This refinancing, effective upon drawdown as of 4 June 2015, offers Exeltium a 15-year tenor in line with the project’s duration.
Acting as Financial Advisor, Natixis assisted Exeltium in designing an innovative
Demands and nuances of Annex IV reporting across Europe could lead to a steady adoption of an outsourcing model among PERE fund managers.
Private equity and real estate (PERE) fund managers are having to adjust quickly to life under the AIFMD, specifically in relation to Annex IV transparency reporting. The majority of managers will have gone through their first iteration at the end of January 2015, and depending on the size of assets under management, AIFMs face the prospect of filing on a semi-annual or quarterly basis; this drops to annually if the manager is considered de minimis by running
