Funds
All lights turned green for Hedge funds after a difficult start to the month. All strategies ended the week in the black pushing the Lyxor Hedge Fund index higher, however, the index remains negative at -0.2 per cent month to date. Earlier in May, the higher volatility regime exhibited by several asset classes impacted hedge funds negatively.
An affiliate of Fortress Investment Group is to become co-manager with Mount Kellett Capital Management of the Mount Kellett investment funds and related accounts (the funds).
Mount Kellett affiliates will continue to serve as general partner of the Funds. Additionally, affiliates of Fortress will become special limited partners of the Funds. Financial terms of the transaction were not disclosed.
The strategic alliance between Mount Kellett and Fortress brings together teams with significant special situations experience and sector specific knowledge, particularly in credit and global real estate. Mount Kellett will benefit from the scale and resources contained within the institutional framework of Fortress, a global
LNG Capital has launched a new share class for its flagship Europa Credit Fund to meet the requirements of a new investor that has made a very significant capital allocation to the Fund.
The new investor is a German private bank focused on fixed income securities.
The allocation will be run as a bespoke mandate via a segregated account and focus on a limited number of the strategies employed within the Europa Credit Fund.
“Today investors require a higher level of customisation than perhaps ever before. We worked with the client to understand their needs and created a strategy
Stephen Yates examines Preqin’s latest data on wind power deals, including aggregate deal value, average deal size and the most prominent regions for wind power deal activity.
Preqin’s Infrastructure Deals module on Infrastructure Online includes extensive information on over 11,200 completed transactions in infrastructure assets globally. These deals encompass a wide variety of investors, ranging from infrastructure fund managers and direct institutional investors to developers, contractors and other industry-specific trade investors. Over 8,100 infrastructure transactions have been completed since 2006, worth an estimated deal value of approximately USD1.8 trillion. Renewable energy is a prominent sector within the asset class, with
Prime money market funds (MMFs) across the board saw their market risk increase in Q1 2015 driven by Moody's Investor Services’ new banking methodology released in March.
However these stressed net asset value (NAV) results do not incorporate the use of Counterparty Risk (CR) assessments or the change in our reference point for deposit securities to the senior deposit rating from the senior unsecured rating. Overall, we expect these changes to drive improvement in Q2 NAV stress results.
During the first quarter, prime MMFs cut their exposure to European financial institutions, following banks' attempts to comply with upcoming Basel III
The European Securities and Markets Authority (ESMA) is calling for a modification of the UCITS Directive to take into account the clearing obligations for certain types of over-the-counter (OTC) financial derivative transactions under EMIR.
Under EMIR, certain OTC financial derivative transactions are subject to the clearing obligation. Therefore, the question arises as to how the limits on counterparty risk in OTC financial derivative transactions that are centrally cleared should be calculated by UCITS and whether UCITS should apply the same rules to both OTC financial derivative transactions that are centrally cleared and exchange-trade derivatives (ETDs).
ESMA believes that the UCITS
A Fitch Ratings analysis of three of the largest US alternative investment managers shows that each firm should be able to sufficiently cover outstanding debt obligations, including 30-year bonds, under a 10-year runoff scenario.
This would be achieved through fee-related cash flows and discounted asset realisations.
The runoff analysis complements Fitch's standard, going-concern evaluation of alternative investment managers, which takes into account franchise strength, management quality, performance strength and ability to continue to raise additional assets under management.
In Fitch's opinion, The Blackstone Group, LP (Blackstone, A+/Stable) has the most flexibility when it comes to debt repayment under the runoff
The SS&C GlobeOp Forward Redemption Indicator for May 2015 measured 4.68 per cent, up from 3.36 per cent in April.
“SS&C GlobeOp’s Forward Redemption Indicator of 4.68 per cent for May 2015 is up from 3.36 per cent in April, reflecting mainly seasonality, as the increase year over year is only 36 basis points from 4.32 per cent for May 2014,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform,
Elliptic, a full-service bitcoin custodian for the capital markets, has partnered with developer API provider Gem to enhance Gem’s multi-signature bitcoin wallets.
The most important part of holding bitcoin is safeguarding the private keys (or passwords) to the account. A typical multi-signature wallet has three unique private keys, two of which must be submitted before a transaction is authorised. In most situations the client is responsible for two of the keys and the wallet provider holds the third.
In the new partnership, Elliptic will act as a trusted and independent third party to provide insured storage of the third
OYSTER Absolute Return EUR EUR2, a sub-fund of the OYSTER SICAV registered in the Netherlands, has been ranked best fund in the Netherlands over three years by Lipper in the “Absolute Return EUR Low” category.
The OYSTER SICAV is a Luxembourg domiciled UCITS managed by SYZ Asset Management (Luxembourg) SA. The European Corporate Bonds and Dynamic Allocation funds managed by SYZ Asset Management have also received several awards in Europe in the past years.
In today’s record-low interest rates environment, OYSTER Absolute Return EUR provides investors with a compelling alternative to their bond allocation and offers a low-risk building
