Funds
In this extract from the Preqin Quarterly Update: Real Estate, Q1 2015, we analyse fund performance and take a look at private real estate funds currently in market.
Fund Performance
Closed-end private real estate funds have posted positive changes in NAV for 18 consecutive quarters, with Q3 2014 seeing an average 1.9 per cent increase in NAV (Fig 1). As of September 2014, funds of vintage years 2009-2012 are posting relatively strong returns, with the median IRR ranging from 12.8 per cent for vintage 2012 funds to 15.8 per cent for vintage 2009 funds.
Examining J-curves of funds of
The US Commodity Futures Trading Commission’s (Commission) Division of Market Oversight (DMO) has issued Guidance to Swap Execution Facilities (SEF) regarding the calculation of projected operating costs for purposes of complying with the financial resource requirements under SEF Core Principle 13 and Commission Regulation 13.1303.
This guidance follows two no-action letters providing relief in connection with erroneous swap trades and swap trade confirmations DMO issued yesterday (April 22, 2015).
The Guidance notes that one cost incurred by voice-based SEFs – the variable commissions such SEFs might pay their employee-brokers, calculated as a percentage of transaction revenue generated by the voice-based
China Everbright Limited (CEL) and Sinowel Enterprise Group (Sinowel) have signed a strategic partnership agreement to start their co-operation towards the secondary market of trust beneficiary rights.
CEL and Sinowel plan to maximise their value, as well as leveraging their respective experience and advantages in the asset management sector to build a marketing platform for the trust industry.
CEL, a member of China Everbright Group, is a diversified financial services enterprise operating in Hong Kong and mainland China. It leverages a "Macro Asset Management" strategy with specific focuses being placed on fund management and investment businesses, namely Primary Market Investment,
Alan Howard, co-founder of Brevan Howard, and Michael Platt, of BlueCrest Capital, jointly head the list of Britain’s wealthiest hedge fund managers, each with GBP1.5bn fortunes, in The 2015 Sunday Times Rich List, to be published Sunday, 26 April.
The 128-page special edition of The Sunday Times Magazine reveals the wealth of the 1,000 richest people in Britain.
There are seven billionaire hedge fund managers in The 2015 Sunday Times Rich List, compared with just four in 2014. Crispin Odey and Nichola Pease, now sharing at GBP1.1bn fortune, have seen their joint wealth rise by GBP580m in the past 12 months,
GMEX Technologies (GMEX TECH), part of the Global Markets Exchange Group International, and Avenir Technology Limited (Avenir), the UK based post-trade software firm, have partnered with the Agricultural Commodity Exchange for Africa (ACE).
This partnership will deliver a new system to issue, manage, trade, clear and settle warehouse receipts for soft commodities. The new system will integrate all the functionality of the current ACE systems and processes into a high performance, agile, scalable technology platform, while also paving the way for expansion into derivatives trading, central counterparty clearing and other instruments in the near future.
Whereas existing warehouse receipt systems
This extract from the Preqin Quarterly Update: Infrastructure, Q1 2015 reflects on the first quarter’s infrastructure fundraising activity.
Fundraising for unlisted infrastructure funds declined in Q1 2015, with just four funds closing, raising an aggregate USD5.3 billion in institutional capital (Fig 1). This represents the lowest amount of capital raised in a single quarter since Q3 2013, when USD4.8 billion was raised. However, those fund managers that are closing funds are often raising large amounts of capital; the average fund size has increased from USD503 million for funds closed in 2011 to USD984 million in 2014.
This trend is reinforced
Altana Wealth, the asset management group, has teamed up with Godot Huard, a behavioural computer scientist, who has developed a unique system based on the theory that ‘directors know best’.
There is much academic evidence to support the theory that the purchase of shares by a firm’s own directors can give a great insight to those investors who are ‘outsiders’ of the company in question.
However, there are several critical factors which need to be considered before the theory can become a viable investment proposition:
• the ability to analyse the large amounts of data generated by directors filings
Societe Generale has launched Tempo, a collateral management outsourcing solution aimed both at buy-side and sell-side market participants, including traditional and alternative asset managers, institutional investors, banks and major corporates.
A unique, multi-asset offering, “Tempo” alleviates the complexity, cost and operational burden of collateral management throughout the entire value chain.
With the introduction of new risk management standards and margining regulations for cleared and uncleared derivatives, by EMIR in Europe and the Dodd Frank Act in the United States, collateral will progressively need to be managed by sophisticated, automated processes across a network of multiple counterparties, clearing brokers
Investment management sector technology specialist RFA (Richard Fleischman & Associates) has launched a new data governance solution for the alternative asset industry.
The data governance service extends the full functionality previously only offered by enterprise level data governance services to the alternative asset industry at a significantly lower price point.
The RFA Data Governance service reports on permission structures and monitors and logs data access, and generates real time alerts based on the criteria set by the client. Clients located in the United States and the United Kingdom will be able to access the new service in a subscription format
The SS&C GlobeOp Forward Redemption Indicator for April 2015 measured 3.36 per cent, down from 3.91 per cent in March.
“The forward Redemption Indicator for both April and Year to Date 2015 are consistent with seasonal trends and closely in line with year ago numbers. This suggests the hedge fund sector remains stable,” 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, divided by the AuA at the beginning of
