Funds
The European Parliament voted to adopt the UCITS V Directive on 15 April 2014, settling any fears and uncertainties that political disagreement over the scope of the remuneration rules might scupper its approval.
UCITS V will come into closer alignment with the Alternative Investment Managers Directive (AIFMD), which was transposed into EU law last July to regulate the activities of European alternative fund managers. Michel Barnier, Internal Market and Services Commissioner of the European Commission, has emphasized the need to maintain the UCITS framework as a “gold standard for fund regulation globally”.
In a legal update from law firm
ML Capital Asset Management is reporting high levels of demand for both European and US long/short equity funds this quarter, with a healthy swing towards UK equity strategies.
The investment manager and promoter of the MontLake UCITS Platform has launched the 14th edition of the quarterly ML Capital Alternative UCITS Barometer, which is designed to help identify and anticipate key trends in the demand for the major strategies within the alternative UCITS sector.
The Barometer also highlights strong levels of support for market neutral, fixed income and global macro sectors. While global macro has consistently been one of the
BTIG, a financial services firm specialising in institutional trading and related brokerage services, has secured a strategic investment from CLSA.
BTIG and its global affiliates will continue to operate as fully independent organisations.
CLSA, an Asian independent brokerage and investment group, is based in Hong Kong and has offices around the globe.
“We are excited by CLSA’s investment,” says Steve Starker, co-founder of BTIG. “CLSA shares our commitment to providing institutional clients with superior services.”
In the last decade, BTIG has grown from four individuals in a single office to over 450 professionals worldwide working in nine
ML Capital announced this week the launch of the North MaxQ Macro UCITS fund on its MontLake UCITS platform. London-based North Asset Management has been successfully managing the North MaxQ Macro investment strategy for over 10 years.
The mandate is discretionary global macro, targeting a through cycle absolute return in excess of 10 per cent with 65 per cent of the risk typically allocated to countries within Europe. Founding Partners, Nick D'Onofrio, George Papamarkakis and Belinda Godwin have committed their own capital to both the Firm and Fund, highlighting their belief in both the fund's strategy and performance.
Cyril
Absolute return manager GEMS Groups has received legal and regulatory approval for its acquisition of Kenmar-Olympia.
Following the merger the combined business will be known as the GEMS Kenmar-Olympia Group and will be active in managing over USD2bn through a wide range of asset management products and services both in financial and real estate markets.
The group offers in particular multi-strategy alternative and long only funds of funds on macro and thematic strategies; as well as a range of systematic global and sectorial single funds.
The GEMS Kenmar-Olympia Group has a strong international presence with offices in London, Paris,
The Ardsley Partners US Equity UCITS Fund has launched on ML Capital’s Montlake UCITS platform.
Ardsley Partners is a long-short equity manager founded in 1987 and based out of Stamford, Connecticut.
The firm invests globally, with a focus on technology, telecom, life sciences, energy and alternative energy companies.
The company manages around USD900m in assets, and is led by founder and CEO, Philip Hempleman.
Richard Rankin, managing director of investor relations and chief operating officer at Ardsley Partners says: "We are pleased to have joined the MontLake UCITS Platform and excited with the opportunity that it provides
FTSE TMX Global Debt Capital Markets has acquired the indices business of MTS, whose indices track the performance of the largest and most widely traded government issued securities in European bonds.
MTS is an electronic fixed income trading markets and is majority owned by London Stock Exchange Group (LSEG).
FTSE TMX Global Debt Capital Markets is a joint venture between FTSE Group and TMX Group’s information services division, TMX Datalinx.
As a result of the acquisition, MTS will initially hold a 3.1 per cent stake in FTSE TMX Global Debt Capital Markets. FTSE will retain a 72.7 per
ML Capital, investment manager to the MontLake UCITS Platform, has launched the North MaxQ Macro UCITS Fund.
North Asset Management, a London based independent alternative asset manager, has managed the North MaxQ Macro investment strategy for more than 10 years.
The mandate is discretionary global macro, targeting a through cycle absolute return in excess of 10 per cent with 65 per cent of the risk typically allocated to countries within the European time zones. This strategy has been successful in the last few years, with fund returns of 25.2 per cent in 2011, 15.5 per cent in 2012 and
March proved to be a challenging month with the majority of alternative UCITS strategies delivering negative returns. According to figures released by Geneva-based Alix Capital, provider of the UCITS Alternative Index Global which tracks more than 700 single-manager funds, the overall return was -0.33 per cent.
The only two strategies to finish in positive territory were Multi-Strategy and Fixed Income funds, returning 0.41 per cent and 0.10 per cent respectively. The worst performers were CTA and Event-Driven funds, returning -1.10 per cent and -0.59 per cent. On a year-to-date basis Long/Short Equity funds remain the top performer, up 1.50 per
Napier Park has received a managed account allocation from an investment fund managed by Topwater Capital, a division of Leucadia Asset Management.
The allocation was made to Napier Park’s strategic credit strategy managed by Ram Putcha, who has more than 30 years of experience in leading credit strategies for large multi-strategy hedge funds and alternative asset management divisions prior to joining Napier Park.
Travis Taylor, who co-heads Topwater Capital with Bryan Borgia, says: “We are extremely pleased to have added the Napier Park strategic credit strategy to our portfolio. We have tremendous respect for Napier Park as an alternative
