Funds
BlackRock this week launched a new absolute return fund for European institutional investors. The BlackRock Multi-Strategy Absolute Return Fund is the firm’s first UCITS-compliant multi-strategy alternative fund in Europe.
Ingo Heinen, Head of BlackRock Alternative Investment Strategies in Europe, said that there was a trend in Europe towards institutions seeking alternative investments via regulated ‘onshore’ vehicles.
“Many clients want diversified exposure to funds that add alpha and provide a different set of returns to equities and bonds, and this liquid multi-strategy fund will give them access to a range of alternative investment strategies in a cost-efficient and dynamic way,” said
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has signed a memorandum of understanding (MoU) with the Asset Management Association of China (AMAC).
The MoU, which was signed in Beijing on 18 June 2014, is the first of its kind signed by AMAC with an international organisation.
The MoU outlines areas of future cooperation between the associations and highlights their joint commitment to strengthening the exchange and cooperation of the Chinese and international fund management industries.
The MoU signing was part of a five-day trip to Beijing by senior AIMA representatives during which AIMA
Global markets and financial advisory firm StormHarbour Securities is to acquire a 49 per cent stake in Japanese hedge fund manager Asuka Asset Management for an undisclosed fee.
StormHarbour, an investment bank founded in March 2009 by Antonio Cacorino and Fredrick Chapey, has branches in seven cities across the globe and comprises about 170 professional employees.
The deal will allow StormHarbour to diversify from its current financial products brokerage and portfolio advisory business into full scale Asian asset management. Asuka meanwhile, will be able to make use of StormHarbour’s global network and gain access to a wide range of
BlackRock has launched an absolute return fund for institutional investors in Europe to meet an expected increase in demand for regulated and liquid alternative investments.
The BlackRock Multi-Strategy Absolute Return Fund is the firm’s first UCITS-compliant multi-strategy alternative fund in Europe and adds to BlackRock’s existing range of liquid alternative UCITS funds.
The fund arrives at a time when new European financial regulations such as AIFMD and Solvency II, coupled with historically high prices in equities and fixed income markets, are encouraging pension funds and insurers to seek ‘onshore’ alternative sources of investments returns.
Ingo Heinen, head of
Portfolio analytics and intelligence platform Novus has partnered with Thalia, a provider of hedge fund investment solutions based in Switzerland with USD1.8 billion in assets under management and advisory.
Transparency within hedge funds has significantly increased since the financial crisis, with approximately 70 per cent of hedge funds reporting exposures and attribution along several key categories and many more aggregating portfolio statistics on a monthly basis. In addition, 20 per cent of funds go as far as reporting position-level information to their investors on a monthly basis.
Unlike traditional performance management systems, Novus gives investors the ability to analyse
Harbinger Group, the publicly traded holding company run by hedge fund manager Philip A Falcone, is offering to acquire, directly or through one of its affiliates, all of Central Garden & Pet Company for USD10.00 in cash per share.
The offer which Harbinger Group (HRG) made in a letter to the board of the Central Garden & Pet Company represents a 27.5 per cent premium over the company’s unaffected common stock price of USD7.84 at the close of business on 6 June.
HRG has also indicated that it may be able to further increase the value of its current
ULLINK, a provider of electronic trading solutions and connectivity to the financial community, is to acquire NYFIX and Metabit from NYSE Technologies, part of Intercontinental Exchange (ICE).
The transaction, which is subject to regulatory approval, is expected to close in the third quarter of 2014.
The combined business will be made up of 500 employees, with offices across many of the world’s leading trading centres, servicing over 2,000 clients. The new organisation will have combined revenues of over USD130m.
Both NYFIX and Metabit are complementary to ULLINK’s existing strengths and will serve to accelerate the company’s growth ambitions.
Societe Generale Securities Services (SGSS) has launched ManCo by SGSS, a management company solution to assist asset managers seeking access to the European market to set up and market UCITS. 

In July 2011 the UCITS IV Directive established a single harmonised regulatory regime for open-ended investment funds.
The Directive provides the framework for launching funds within the European Economic Area (EEA) by offering asset managers the opportunity to distribute UCITS funds throughout the area via a compliant management company (ManCo) registered in the EEA. 


SGSS’ own in-house ManCo is extending its licence to accompany asset managers in their
State Street Corporation announced this week that it was expanding its relationship with EARNEST Partners to provide a full suite of servicing solutions for the firm’s new UCITS funds.
EARNEST Partners, which currently advises on more than USD20bn in assets for clients around the world, will now offer global access to its equity strategies through its Irish domiciled UCITS funds, including global emerging markets, frontier markets and global ex-US equities.
State Street currently provides support for EARNEST Partners’ onshore funds. As part of the expansion of its current servicing relationship, State Street will now also provide asset management services
The British Virgin Islands has signed a Tax Information Exchange Agreement (TIEA) – its 26th in total – with Japan.
The TIEA will enable the two tax authorities to have greater ability to exchange information for tax purposes in accordance with internationally agreed standards
Premier and Minister of Finance of the BVI, Dr the Hon D Orlando Smith OBE, signed the agreement with HE Keiichi Hayashi, Japanese Ambassador to the UK, on 18 June at the Japanese Embassy in London.
Smith says: “The agreement signed with Japan shows the BVI remains a constructive partner with governments across the
