Funds
Newedge announced this week that it had been appointed as swap counterparty to two new UCITS funds under the Nuveen Global Investors Fund plc umbrella. Both funds are Dublin-domiciled and UCITS-IV compliant.
They are managed by Gresham Investment Management LLC, an affiliate of Nuveen; one of the world’s largest commodities investment managers. Andrew Dollery, Director, Origination & Structuring for UCITS funds at Newedge, said the firm was excited about working with a manager of Gresham’s pedigree and that “today’s announcement is further recognition of our ability to offer clients innovative UCITS-compliant services”. Added Dollery: “Nuveen’s decision to bring one of
Aston Hill Financial has completed its purchase of Citadel Securities, a provider of investment advice and services to private and institutional investors.
The deal was previously announced on 15 November.
Aston Hill is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. The company is also engaged in the administration of Argent Energy Trust. Aston Hill has offices in Calgary, Toronto and Halifax.
Citadel Securities is a full service investment dealer with its head office located in Halifax, Nova Scotia. It is a member of
Newedge has been appointed as swap counterparty to two new Ucits funds under the Nuveen Global Investors Fund umbrella.
The new funds are Irish-domiciled and Ucits IV compliant. They are managed by Gresham Investment Management, an investment affiliate of Nuveen, which is one of the world’s largest commodities investment managers.
Andrew Dollery (pictured), director, origination and structuring for Ucits funds at Newedge, says: “We are excited about working with a manager of Gresham’s pedigree and experience in this space. Today’s announcement is further recognition of our ability to offer clients innovative Ucits compliant services.
“Nuveen’s decision to bring
Geneva-based Alix Capital, provider of the UCITS Alternative Index Global, is publishing a report that suggests ESMA proposals will impact EUR3billion of CTA UCITS assets
Legg Mason and affiliate Permal are to acquire Fauchier Partners, a European-based manager of funds of hedge funds, from BNP Paribas Investment Partners. The deal, which will see Fauchier Partners combine with Permal, will create an institutionally focused platform with approximately USD24 billion in assets under management, offices in nine locations around the world, and a global investment team based in New York, London, Paris and Singapore.
The transaction is expected to close in the first quarter of 2013 and be accretive to Legg Mason’s earnings in the first year, reflecting Legg Mason’s ongoing commitment to create shareholder value. The
ESMA proposals limiting the use of indices by Ucits funds will require a change in investment approach for EUR3bn of CTA Ucits assets, according to a paper published by Alix Capital, the Geneva-based investment boutique specialising in regulated alternatives investments.
The paper discusses the impact of the regulation and examines the options available to CTA managers to ensure compliance with the ESMA proposals.
Current Ucits regulations do not allow direct investment in commodities therefore many CTA managers use indices to gain commodity exposure. The ESMA consultation, entitled “Guidelines on ETFs and other Ucits issues: Consultation on recallability of repo and
Alternative UCITS funds returned 0.32 per cent in November according to Geneva-based Alix Capital, provider of the UCITS Alternative Index Global. That takes YTD returns to 1.13 per cent. All but three strategies made positive gains last month.
The best performing strategies were UAI Emerging Markets, up 0.73 per cent, UAI Multi-Strategy, up 0.71 per cent, and UAI Macro, up 0.42 per cent. The worst performing strategy proved to be the UAI FX Index, recording losses of 0.24 per cent, closely followed by UAI Commodities, which finished down 0.22 per cent. CTA and Commodities are now, by some considerable distance,
Orangefield Group, a provider of administration, management and trust services, has acquired hedge fund administrator Columbus Avenue Consulting.
The division will officially operate under the Orangefield-Columbus brand.
Orangefield-Columbus has over USD25bn in assets under administration. Clients will continue to work with their same management teams and benefit from a global suite of operational capabilities and services.
Joep Bruins, chief executive of Orangefield, says: “We enter North America by providing hedge fund services for which we are already leading the industry. Partnering with Columbus Avenue sets us up for success in North America. It also creates a strong base for offering
An institutional investor survey commissioned by Alceda has revealed that 73 per cent of investors do not feel that regulators are in tune with their requirements. The survey of 49 UK institutional investors was conducted by Kepler Partners LLP at the Global Macro UCITS Conference in London in October 2012.
Almost half of respondents (43 per cent) felt that the threat of regulation was adversely affecting the way they currently invest. To further underscore the popularity of alternative UCITS products, 80 per cent of investors surveyed said they were planning to increase their allocation.
However, transparency continues to be an
Institutional investors feel that regulators are not in tune with investor requirements, according to a survey commissioned by structuring specialist Alceda.
The survey of 49 UK institutional investors was conducted by Kepler Partners at the Global Macro Ucits Conference in London in October 2012.
The majority, 84 per cent, of respondents were discretionary wealth managers or family offices, with the remaining 16 per cent active in the fund of fund/multi-manager space.
The survey reveals that 73 per cent of respondents feel that regulators are not in tune with investor requirements, with almost half of investors (43 per cent) stating
