Managers
Neuberger Berman is extending its suite of multi-asset solutions with the launch of two UCITS Funds – the Multi-Asset Risk Premia Fund and the Multi-Asset Class Income Fund.
The launch of the UCITS vehicles, subject to regulatory approval, makes these Neuberger Berman strategies available to a wider audience.
Erik Knutzen (pictured), chief investment officer, multi-asset class at Neuberger Berman and lead manager on the Multi-Asset Class Income Fund, says: “A combination of low interest rates, low inflation, muted economic growth and elevated valuations across many traditional asset markets is inspiring investors to look for alternative sources of robust returns
Parametric Portfolio Associates and Research Affiliates have partnered to provide a systematic global macro strategy to institutional separate accounts.
"Our clients desire liquid alternative solutions that provide attractive, diversifying returns in a cost-effective manner. Parametric is leveraging its partnership experience with Research Affiliates to launch what is expected to be an empirically robust and theoretically sound strategy aiming to deliver these attributes," says Brian Langstraat (pictured), chief executive officer, Parametric.
"As a natural evolution of our research in asset allocation and smart beta, we developed a long/short strategy harvesting alternative return premia of carry, momentum and value across asset
NewStar Financial has closed the NewStar Berkeley Fund CLO, a USD505 million middle market collateralised loan obligation managed for qualified institutional investors.
The Berkeley Fund is the fourth credit fund sponsored by NewStar to co-invest in middle market commercial loans originated through its direct lending platform.
The Berkeley Fund is NewStar’s 21st securitisation since inception and third transaction completed in 2016. The notes offered through this CLO transaction are backed by a diversified portfolio of commercial loans originated and underwritten by NewStar for the benefit of investors.
Various classes of notes rated Aaa through Ba3 were placed, which represented
Allianz Global Investors (AllianzGI) is to add Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, to its private debt platform.
AllianzGI will acquire Sound Harbor’s assets for an undisclosed sum and the Sound Harbor team will join AllianzGI.
The Sound Harbor team will become part of the AllianzGI global investment platform, maintaining the integrity of its investment strategy, process and team while accessing insights and knowledge-sharing among colleagues across the platform.
Andreas Utermann (pictured), chief executive and global chief investment officer of AllianzGI, says: “Over the last five years, AllianzGI has
Old Mutual Global Investors (OMGI), part of Old Mutual Wealth, is to launch the Old Mutual Style Premia Absolute Return Fund (STAR) at the beginning of December.
The Ireland-domiciled UCITS fund will be the latest addition to the business’s suite of systematic liquid alternatives products, addressing demand from institutional investors for portfolio-diversifying products that invest in strategies with uncorrelated returns to traditional markets.
OMGI currently manages GBP7 billion in hedge fund strategies.
STAR will have a volatility target of 8 per cent and aims to deliver positive total returns on a rolling 12 month basis, uncorrelated to bond
Aberdeen Asset Management has launched the Aberdeen Alternative Diversified Equity Fund (AADE) which aims to generate capital appreciation with limited correlation to traditional equity markets by blending a portfolio of equity-related alternative strategies.
The fund offers investors access to high quality alternative investment talent in a liquid and regulated vehicle.
With its focus on generating returns through stock selection rather than market exposure, AADE is designed to provide a source of equity-related returns that are not dependent on the overall direction of the equity markets. This style of investment is becoming more popular among investors concerned about the current levels of
Lalpina Water (American Premium Water Corporation), a producer of high-quality alkaline water, now has a New York hedge fund among its customers.
In an effort to promote a healthy workplace, Blackbridge Capital has purchased a six-month supply of Lalpina Water for its New York office.
The fund also confirmed it has just given Lalpina’s exclusive east coast distributor a purchase order for an additional one-year's supply. At the same time, the company's own efforts to promote wellness in children are succeeding, yielding a marked increase in distribution to schools in the New York Tri-State area over the last quarter.
According to Hedge Funds Research, hedge funds this year have experienced more than USD50 billion of net outflows, continuing a theme that began back in Q4 2015.
Prior to this, the industry had enjoyed a near constant quarter-on-quarter increase in net inflows, taking total industry assets beyond USD3 trillion. This year, it would appear institutions have taken pause for thought and questioned the value of their offshore hedge fund allocations.
By contrast, however, the alternative UCITS industry has continued to grow from strength to strength. According to Hedge Fund Research, this area of the market had USD200 billion in assets
With investors concerned over the impact that a rising rate environment could have on their fixed income portfolios, the need to look for alternative solutions to hedge against, and even profit from, widening yields, is becoming paramount. James Williams (pictured) explores how alternative UCITS, which continue to enjoy positive inflows, are proving an appealing option to investors looking to diversify their investments.
In the last few years, investors have continued to pile into fixed income to enjoy the last drops of yield compression, which have moved perilously close to zero. US 10-year Treasuries fell as low as 1.38 per cent
2016 will be the year of haves and have-nots for hedge fund investment professionals, according to compensation data from CompIQ and performance data from HFR.
The widening YTD performance gap will translate to large increases in bonuses for top-performing funds and decreases in bonuses for bottom-performing funds especially for upper level management and key investment professionals whose compensation is more closely tied to their fund’s performance and overall assets under management.
Across the board, non-investment professional roles will show salary increases, albeit at a modest, single-digit level.
A shift in the range of performance from fund to fund
