Funds
Rudolf Wolff, the London-based fund management firm, is preparing to launch a UCITS version of its Bermuda-domiciled Income fund, reported FTadviser this week. Bruce Macdonald, who manages the Rudolf Wolff Income fund, is to run the new fund, which is to be domiciled in Ireland.
The fund will target a gross yield of between 5 and 7 per cent. It will invest in a range of fixed income stocks issued by financial institutions including permanent interest bearing securities (Pibs) from the likes of Nationwide and Skipton, both of which are building societies. Liquidity in the fund will initially be mid-
Carne Group has become the first European independent management company solution authorised under the Alternative Investment Fund Managers Directive (AIFMD).
The management company has been approved by the Central Bank of Ireland and is available immediately for fund managers seeking AIFM solutions from a reliable and institutionally-respected provider.
The AIFM Directive came into force on 22 July. The Directive has significantly changed the way in which alternative funds are managed, both inside and outside the EU, and affects managers who distribute funds within the EU that are not UCITS-compliant.
The new Carne Management Company includes an embedded
Polar Capital is preparing to launch a convertible bond fund reported FTadviser this week. The Polar Capital Global Convertibles fund will be domiciled in Dublin, subject to regulatory approval, and is to be managed by David Keetley and Steve McCormick.
Both Keetley and McCormick co-manage the USD40million Polar Capital ALVA Global Convertible hedge fund, a Cayman vehicle that launched in November 2010 and which has delivered 10.7 per cent returns in the last 12 months.
The UCITS fund will have a long bias and aims to deliver equity-like returns as well as income by investing in convertible bonds. The yield
Prestige Fund Management (PFM), a Cayman-based investment manager, has purchased a significant equity stake in Methexis Holdings, an Isle of Man-based corporation and owners of Methexis Capital Advisors, a UK-based regulated investment manager.
Prestige will now be represented on both Methexis boards.
PFM is affiliated to Prestige Asset Management, a UK-based FCA regulated investment marketing, administration and structuring boutique, Prestige Capital Management, a Malta-based MFSA regulated investment management firm, and Prestige Asset Distribution, a British Virgin Islands-based international fund distribution firm which has raised over USD500m since 2008.
Founded in January 2010, Methexis Capital Advisors is involved
Following a strong start in Q1 2013, alternative UCITS funds have continued the positive trend in Q2 2013, with assets under management (AUM) growing by 8.3 per cent from EUR96.6bn in March 2013 to EUR104.6bn at the end of Q2, breaking the EUR100bn barrier for the first time, according to Alceda.
Performance across the UCITS fund sector varied significantly, with investors focusing assets on large, blue chip funds. However, several funds launched in Q1 were able to grow their assets over the second quarter. With many investors looking to UCITS vehicles for improved liquidity, the report also reveals daily
Preliminary figures released by London-based consultancy firm ETFGI in its Global ETF and ETP industry insights report show that global ETF and ETP assets attracted near record net inflows of USD44.08billion through July this year. Coupled with strong market performance, total net assets have risen to USD2.16trillion as at end-July, 2013.
Equity ETFs/ETPs attracted the lions’ share of net inflows, gathering USD41.62billion, of which US funds accounted for USD32.99billion of that figure. Fixed income products attracted more modest inflows of USD5.1billion, suggesting that investors have a more risk-on appetite right now. Within fixed income, the report found that inflation-linked products
Heptagon Capital has achieved a Gold fund rating from S&P Capita IQ Fund Research for its Ireland-domiciled Yacktman US Equity Fund (based on a US mutual fund). London-based Heptagon Capital is an independent investment firm with over USD7.2billion in AuM and acts as the fund’s promoter.
Within the S&P Capital IQ US mainstream equities peer group of over 700 funds, the product is one of only 27 out of 55 graded funds to achieve a Gold grading.
Since the fund launched in December 2010 through to the end of May 2013, it has produced a top-quartile cumulative ranking in
Grosvenor Capital Management, one of the world’s largest discretionary allocators to hedge funds, is to acquire the Customized Fund Investment Group (CFIG), a private equity, infrastructure and real estate investment management company, from Credit Suisse Group.
CFIG is one of the largest providers of customised private equity solutions globally with approximately USD18bn of assets under management and 11 offices around the world.
Following the completion of the transaction, CFIG will be renamed the GCM Customized Fund Investment Group. Terms of the transaction were not disclosed.
"This transaction makes each firm a more valuable partner for existing
Alleghany has invested USD250m for a 6.25 per cent equity ownership interest in Ares Management, which is privately held, and also committed to invest up to USD1bn of capital in various existing and new Ares investment strategies.
Through its relationship with Ares, Alleghany seeks both to participate in Ares’ strong business prospects and to enhance the returns of its committed capital through Ares’ alternative asset expertise. The USD250m investment will be used by Ares as sponsor capital in its investment vehicles, which aim to deliver compelling risk-adjusted returns for investors through differentiated investment strategies.
"We believe this strategic
GLG Partners, the discretionary investment manager of Man Group, is to launch the GLG Total Return Fund.
Available to investors from 29 July, the absolute return strategy will be managed by the macro and relative value (MARV) team, headed up by Jamil Baz and Sudi Mariappa. Strategic calls will be made by an investment committee, chaired by Baz, while James Ind, who recently joined GLG from Russell Investments, will be responsible for ongoing portfolio management.
Leveraging GLG’s dedicated expertise in fundamental, quantitative and market analysis, the UK-domiciled UCITS fund will invest across a highly diversified range of liquid asset
