Funds
US Bancorp Fund Services has agreed to acquire Quintillion Limited, an Ireland-domiciled full-service hedge fund administrator.
The announcement supports US Bancorp Fund Services’ initiative to expand its alternative investment servicing network supporting the European investment community.
“This acquisition continues to showcase the long-term commitment of US Bancorp to grow our securities services business,” says Terrance Dolan, vice chairman of US Bancorp Wealth Management & Securities Services. “This enables us to enhance our European presence through additional talented resources, and complements our focus on the expansion and diversification of our alternative investment business.”
The transaction adds USD18bn in hedge
The Luxembourg regulator, the CSSF, this week announced the authorization of the first Renminbi Qualified Foreign Institutional Investor (RQFII) fund under the UCITS scheme.
The UCITS can invest 100 per cent of its net assets in China A shares (shares in mainland China-based companies that are traded on a China stock exchange). In order to authorize such an RFQII UCITS the CSSF the following requirements apply:
The fund must be open-ended
The experience, qualification and competence of the fund manager
The application of appropriate risk management procedures
The correspondent bank of the depository and the segregation of assets at the
Corporate credit specialist Muzinich & Co has launched an emerging market short duration corporate bond fund.
The Muzinich & Co Emerging Markets Short Duration Bond Fund, an Ireland-domiciled UCITS structure, will invest in a diversified portfolio of short duration investment grade and high yield corporate bonds from emerging markets-focused issuers.
The fund will focus on hard currency bonds and is managed by Warren Hyland and Christina Bastin.
“The potential returns from emerging markets are very compelling,” says George Muzinich, chief executive and founder of Muzinich & Co, “But due to the divergence of returns between countries and issuers,
Sam Barnett, the 23-year old founder and CEO of SBB Research Group, is a talented individual. Having first developed a sophisticated trading algorithm as a teenager, Barnett (pictured) went on to launch his quantitative hedge fund as an undergrad at Cal Tech.
Today, Barnett is running the fund whilst studying for a post doctorate at Northwestern University. Oh, and he is also an internationally ranked tennis player.
“I believe in a disciplined and quantitative approach to investing and believe it is possible to achieve above market returns with minimal risk as long as this disciplined approach is applied,” Barnett tells Hedgeweek.
NYSE Euronext has provided a statement and timeline for the completion of its acquisition by IntercontinentalExchange (ICE), an operator of global markets and clearing houses.
ICE and NYSE Euronext now have all regulatory approvals necessary to proceed with closing their previously announced transaction and intend to close the transaction on 13 November 2013.
Trading in IntercontinentalExchange stock and NYSE Euronext stock will cease at the end of the trading day on 12 November 2013 and trading in IntercontinentalExchange Group stock will begin on 13 November 2013 under the ticker symbol “ICE” and will continue to trade on the New
Alternative UCITS gained 1.18 per cent in October to leave them up +3.20 per cent for 2013 according to the UCITS Alternative Index Global managed by Geneva-based Alix Capital.
One of the key reasons that helped contribute to October’s gains was the strong performance of long/short equity managers, up 1.85 per cent on average. Having said that, the best performing strategy last month was actually the UAI CTA, up 2.20 per cent. Other strategies that also returned more than 1 per cent were the UAI Multi-Strategy, UAI Emerging Markets and UAI Macro. Since the start of 2013 the UAI Long/Short
Luxembourg-domiciled VAM Funds is launching an enhanced equity fund, which targets absolute returns, on 8 November 2013.
This addition will further strengthen the range of funds available on VAM’s UCITS IV regulated platform, which is focused on providing investors with funds that incorporate all asset classes – including equities, commodities, bonds and multi asset portfolios.
As with its existing 13 funds the VAM Enhanced Equity Fund will tap into VAM’s distribution, marketing and administration network. Key features will include daily dealing, liquidity and transparency with no exit or redemption fees. It will be available through the usual life company
Neuberger Berman, one of the world’s leading asset managers, this week announced the launch of the Neuberger Berman Absolute Return Multi-Strategy Fund (ARMS), following the rapid success of the US regulated version of the same strategy, launched in May 2012.
The multi-manager product targets positive absolute returns with low market exposure through diversified allocations to proven hedge fund strategies. At the same time, it addresses the structural drawbacks of hedge fund investing through a client-friendly UCITS vehicle. The structure offers investors key features such as daily dealing, no performance fees at any level, a capped total expense ratio, high levels
Neuberger Bremen has launched the Neuberger Berman Absolute Return Multi-Strategy Fund (ARMS), following the US regulated version of the same strategy launched in May 2012.
The multi-manager product targets positive absolute returns with low market exposure, through diversified allocations to proven hedge fund strategies. At the same time, it addresses the structural drawbacks of hedge fund investing through a client-friendly UCITS vehicle.
The structure offers investors key features such as daily dealing, no performance fees at any level, a capped total expense ratio, high levels of transparency and control of assets through the exclusive use of managed accounts.
With equity markets continuing their rally into Q3 2013, the demand for alternative UCITS strategies has continued, according to the Alceda Quarterly UCITS Review.
Tracking the Absolute Hedge Alternative UCITS Index, which encompasses 454 funds, assets under management reached a total of EUR154.4bn, an increase in AUM of 2.6 per cent on the previous quarter.
Following a challenging Q2 where the sector declined 0.53 per cent, alternative UCITS strategies rebounded in Q3 2013 advancing 1.09 per cent and an overall 3.12 per cent year to date.
With the growth in AUM, the sector also saw an increasing range
