Funds
Bernheim, Dreyfus & Co has launched Carmel Global Opportunities, a global macro UCITS IV compliant fund, which invests in multiple asset classes across the OECD universe.
Carmel Global Opportunities is managed by Bernheim, Dreyfus & Co’s team gathering over 70 years of experience in asset management and other complementary fields in finance such as M&A advisory, trading and risk management.
The fund aims to deliver steady long-term capital appreciation through diversification of investment style, alpha source and time horizon.
The fund deploys capital in an actively managed core fixed income allocation and a more dynamic pocket increasing the
Man Group and Nomura have launched the Nomura Man Systematic Fixed Income UCITS Fund, it was announced this week. The underlying strategy, which has been accessible via a number of different investible formats since summer 2012, is run by Man Systematic Strategies (MSS). It merged with AHL, Man’s flagship managed futures manager, earlier this year to form a joint quantitative investment unit.
The strategy seeks to capture largely directional opportunities in emerging and developed market swap, futures and FX markets. Around 50 markets are targeted, based on approximately 300 systematic trading signals.
Andre Rzym and Stefan Sluke co-manage the strategy.
The Swiss banking group Syz & Co is celebrating the 10th anniversary of Oyster European Corporate Bonds, the sub-fund of its Luxembourg UCITS Sicav Oyster, investing in European corporate bonds.
The fund, which has been advised by Andrea Garbelotto since it was launched, ranks in the ninth percentile over ten years. These good performances are also confirmed over three years and the current year, with a ranking in the first quartile.
The results are attributable to active and opportunistic management that makes the difference by having several sources of performance such as macro-economic forecasts, bond picking and duration
Miravast Asset Management, an investment adviser specialising in life contingent assets, has advised on the USD60m purchase of a life insurance portfolio by a substantial institutional investor.
Miravast developed and structured the transaction, including selecting the life insurance policies, conducting medical reviews of the insureds and performing an actuarial analysis of each of the life insurance policies, which were recently acquired on the secondary market. Miravast Asset Management is also responsible for the ongoing management of the portfolio.
Miravast’s team of insurance professionals has extensive experience underwriting and managing portfolios of life insurance policies, including the development
The UCITS Alternative Index Global lost -1.37 per cent in June to leave it at +0.94 year-to-date. The funds of funds index performed slightly worst with losses of -1.85 per cent. The UAI Funds of Funds is now up 1.24 per cent since the beginning of the year.
With the exception of Equity Market Neutral and Commodities, all single strategies lost ground in June. The UAI Emerging Markets suffered the worst performance, down -3.08 per cent, followed by the UAI CTA and the UAI Macro, respectively down -2.70 per cent and -2.15 per cent. The UAI Long/Short Equity recorded negative
Gottex Fund Management has completed the acquisition of a majority interest in Frontier Investment Management, a UK multi-asset investment management firm.
Michael Azlen, founder and chief executive of Frontier, will retain a substantial equity interest in Frontier, which has USD550m in assets under management. He will continue to lead the Frontier business, and joins Gottex as a senior executive in its multi-asset business.
The Frontier acquisition will allow the combined group to provide a range of liquid multi-asset products, based on the established endowment style model used by the leading US university “super endowments”. In addition, Frontier’s liquid
Broadridge Financial Solutions is to acquire Bonaire Software Solutions, a provider of fee calculation, billing and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms.
The addition of Bonaire is another step in Broadridge’s strategy to build a suite of data-driven solutions for mutual fund, retirement and asset management firms to help them grow their businesses, operate efficiently and minimise risk.
"Bonaire is a great strategic fit for Broadridge. Its market-leading suite of solutions will extend Broadridge’s offerings for asset managers, wealth managers
StatPro Revolution now allows for global exposure and liquidity monitoring. For those with UCITS funds this will aid compliance with the UCITS IV regulation.
Avaliable in the StatPro Revolution App Store, and priced on a per portfolio subscription, the Global Exposure and Liquidity Monitoring module features a traffic light approach used to identify early warnings and breaches.
Using the VaR methodology, this daily tool enables the risk and compliance community to:
• Establish, implement and maintain a documented system of internal limits concerning the measures used to manage and control the relevant risks
• Conduct a rigorous, comprehensive and
Lyxor Asset Management this week announced the launch of the Lyxor/Tiedemann Arbitrage Fund, a UCITS-compliant fund designed to give investors access to a pure merger arbitrage strategy, in partnership with hedge fund firm TIG Advisors.
The fund’s investment strategy is to play arbitrage deals from both a long and a short perspective by investing in securities that are subject to special events in North America, Europe, Australia, South America and Asia. The investment team focuses on 0-30 day events within the merger arbitrage process and looks for wide spreads and complex deal opportunities relying on TIG’s deep research capabilities.
Mitsubishi UFJ Trust and Banking Corporation (MUTB) is to acquire alternative fund administrator Butterfield Fulcrum. Established in 1927, MUTB is a wholly owned subsidiary of Mitsubishi UFJ Financial Group (‘MUFG’), the fifth largest global bank holding company ranked by assets.
“We are delighted and honoured to become part of the MUFG family of financial companies,” says Glenn Henderson, CEO of Butterfield Fulcrum Group. “This acquisition will reinforce our ability to deliver the highest quality fund services to our clients, while significantly increasing our breadth of products and services, our geographic reach and our financial strength."
Butterfield Fulcrum will become
