Funds
BGC Partners intends to commence a tender offer to acquire all of the outstanding shares of GFI Group for USD5.25 per share in cash in a transaction valued at approximately USD675 million.
BGC currently owns approximately 13.5 per cent of GFI Group's common stock.
BGC'S offer of USD5.25 per share in cash represents more than a 15 per cent premium to the USD4.55 per share all-stock transaction announced by CME Group and GFI Group on 30 July 2014 and more than a 68 per cent premium to the price of GFI Group shares on 29 July, the last day
The percentage of participating investors allocating liquid alternative investments rose from 28 per cent to 51 per cent year-on-year, according to a study by Deutsche Bank.
The study – From Alternatives to Mainstream (Part Two) – saw almost three quarters of alternative UCITS investors and nearly two thirds of investors into alternative ‘40 Act mutual funds planning to increase their allocations.
Liquid alternative investments are now the fastest growing part of the asset management industry. Alternative UCITS assets have grown over 40 per cent annually since 2008, whilst the hedge fund industry has grown 13 per cent and the
Man Group has completed the acquisition of Numeric Holdings, a privately-owned, Boston-based quantitative equity manager with USD14.7 billion of funds under management.
Manny Roman, chief executive officer of Man, says: “We are delighted to announce the completion of the acquisition of Numeric, which has an impressive track record of performance, a strong US footprint and a talented management team. Numeric is very well positioned to benefit significantly from our scale and resources and I’m excited by the opportunities this acquisition brings for our investors and shareholders.”
The transaction will create a diversified, global quantitative investment platform represented by AHL
Global funds transaction network Calastone has been listed at number 42 in the Sunday Times Hiscox Tech Track 100, published on 7 September.
The Hiscox Tech Track 100 league table ranks Britain's 100 private tech (TMT) companies with the fastest-growing sales over the latest three years.
Tech Track 100 is compiled by Fast Track and published in The Sunday Times each September, with an awards event in November and regional dinners throughout the year.
Julien Hammerson, CEO of Calastone, says: “We are honoured to have been listed in the Tech Track 100 ranking. As a technology firm, we are
Alceda Fund Management SA has teamed up with APN Property Group (“APN”), a specialist Asia Pacific real estate investment manager to redomicile a former Cayman fund to a Luxembourg SICAV Specialised Investment Fund (SIF).
The fund strategy invests in a diversified portfolio of Asia Pacific listed equities, with a key focus on real estate investment trusts (‘REITs’), with a limited allocation to infrastructure securities. The aim is to deliver higher income and lower volatility than can be achieved by investing directly in REITs. Targeted at both the institutional and high net worth markets, the income leaning fund aims to provide
Spring Valley Asset Management (SVAM), a newly formed alternative investment manager specialising in the development of quantitative futures-based trading strategies, has launched the SVAM Tactical Trend Portfolio.
The Tactical Trend Portfolio seeks to generate superior absolute and risk-adjusted returns across a diversified blend of more than 50 futures markets, including stock indices, interest rates, currencies, energies, metals and agricultural commodities.
The portfolio uses multiple market inputs and a host of technical indicators to identify directional trading opportunities across a broad spectrum of time frames, including short-term, intermediate-term, and long-term horizons.
The Tactical Trend Portfolio employs a systematic process
Highland Capital Management has launched its first European regulated fund and will act as the sub-advisor of the BB Highland Floating Rate Fund.
The fund has been launched as an Irish Qualified Investor Fund (QIF) in partnership with BB DTVM, the asset management arm of Banco do Brasil.
The fund is designed to replicate the Highland Floating Rate Opportunities Fund by investing primarily in US bank loans and other floating rate products that seek to generate yield in a rising interest rate environment. As of 30 June, the Highland Floating Rate Opportunities Fund was ranked as the number one
CBOE Futures Exchange plans to launch futures trading on the CBOE/CBOT 10-year US Treasury Note Volatility Index (VXTYN) beginning on 13 November, pending regulatory review.
CBOE chief executive Edward Tilly made the announcement during his address to attendees at the CBOE Risk Management Conference Europe, currently taking place outside of Dublin.
The VXTYN Index, on which futures on VXTYN is based, is calculated by applying the CBOE Volatility Index (VIX Index) methodology to futures options data from CME Group's 10-year US Treasury note contract, one of CME Group's most active interest rate options products. In May 2013, CBOE began disseminating
The most recent rebalance of the Global X Guru Index exchange-traded fund (GURU) saw 11 additions and 13 removals from the fund, while 45 components remained unchanged.
GURU sector allocation reveals that hedge fund managers are overweighting industrials with their highest conviction ideas.
The overweight in the industrials sector could represent a bet from hedge fund managers on a strengthening economy, particularly in domestic manufacturing.
During Q2 2014, GURU celebrated its two year anniversary. Since the fund’s inception, GURU has returned over 86 per cent and reached nearly USD500m in assets under management.
Global Investment House’s Mayur Hedge Fund, a long short absolute return growth oriented fund with a net long bias, has reported a 49 per cent return for the first six months ending 30 June 2014.
That return makes it the second best performing hedge fund for the Indian market as reported by EurekaHedge.
The Mayur Hedge Fund is an India-focused product managed directly by Global which aims to achieve capital appreciation through investing predominantly in equity and fixed income related instruments of Indian companies.
Rajesh George, vice president international asset management at Global, says: “The Asian, and in
