Managers
Value Line Funds, a mutual fund company comprised of equity, fixed income and hybrid funds with assets exceeding USD2 billion, has completed the acquisition of the Alpha Defensive Alternatives Fund.
The Fund has been renamed the Value Line Defensive Strategies Fund and investor (VLDSX) and institutional (VLDIX) shares are now available.
The Value Line Defensive Strategies Fund is a fund of funds that seeks to achieve capital preservation while producing positive returns with low volatility. The Fund has a flexible investment mandate to hold multiple asset classes with varying levels of correlation to the overall market. As an alternative investment,
Third Point Reinsurance has entered into new long term investment management agreements with Third Point (Third Point).
At its inception in December 2011, Third Point Re retained Third Point as its exclusive investment manager under a five year investment management contract. This agreement, and a separate investment management agreement for Third Point Reinsurance (USA) Ltd, were renewed to have effect from 22 December, 2016, in each case for a five year term.
John Berger says: "Third Point has been an outstanding partner in all respects. They helped us form Third Point Re, have supported us in building out our financial
RIMES, together with the European Fund and Asset Management Association (EFAMA) and the Financial Markets Law Committee (FMLC), has cautioned compliance teams against overlooking important regulatory challenges during its first Regulatory Seminar.
Investment managers need to comply with MAD II requirements, which came into force this month, and prepare for the imminent arrival of MiFID II and the EU Regulation on Financial Benchmarks. These three pieces of regulation, when combined, mean that the buy-side will face compliance challenges unlike any it has faced before.
The buy-side must now have compliance monitoring as part of its core operational requirements. This requires
Intercontinental Exchange (ICE), a leading operator of global exchanges, clearing houses and data services, has introduced the expanded ICE Data Services, bringing together proprietary exchange data, valuations, analytics, desktop tools and connectivity solutions from across ICE and the New York Stock Exchange, Interactive Data and SuperDerivatives.
This development is part of the ongoing integration of Interactive Data, which ICE acquired in December 2015.
ICE formed its ICE Data subsidiary in 2003, recognising the rising demand for exchange data as markets became increasingly automated. ICE continues to invest in its data services to address evolving customer needs driven by regulatory reform,
Pavilion Financial Corporation (Pavilion), a North American based employee-owned, investment services firm, plans to acquire Altius Holdings Ltd, the parent company of Altius Associates Ltd. and Altius Associates (Singapore) Pte Ltd (Altius Associates), a global private markets advisory and separate account management firm with offices in the UK, US and Singapore.
The transaction is expected to close in the third quarter of this year subject to regulatory approval.
Pavilion will combine the operations of Altius Associates with LP Capital Advisors, LLC (LPCA), the alternative asset advisory subsidiary of Pavilion headquartered in Sacramento, California. The combination will be highly complementary,
Hedge fund managers navigated intense volatility on Friday as the Brexit vote resulted in massive dislocations across global currency, equity, commodity and fixed income markets, most specifically reflected in Sterling’ steep decline against the Dollar and the Yen.
Hedge fund performance was mixed across strategies with wide dispersion and high turnover, as losses across directional beta strategies were partially offset by mixed performance in non-directional and trend following strategies. UK-based hedge funds manage an estimated USD426.4 billion (£ 323 billion British Pound Sterling), roughly 80 per cent of the USD527.6 billion managed by all European located hedge funds.
The HFRX
Larry Hatheway (pictured), Group Chief Economist and Head of Multi Asset Portfolio Solutions at GAM, looks at what happens next following the UK’s vote to leave the EU…
The UK’s historic referendum has, predictably, sent powerful shockwaves through global capital markets. Intra-day volatility in sterling, European equities and selected other asset classes has approached or even exceeded that seen during the most turbulent episodes of the global financial crisis. The market moves – particularly the sharp fall of sterling – are very much in line with the estimates made by most economists and strategists in their Brexit scenarios.
What
EDHEC-Risk Institute has released an overview and analysis of the forthcoming framework to be used by financial institutions to determine initial margin (IM) and variation margin (VM) payments when trading non-cleared over-the-counter (OTC) derivatives.
The new publication – Initial Margin for Non-Centrally Cleared OTC Derivatives – Overview, Modelling and Calibration – was produced by the research chair on “Innovations and Regulations in Investment Banking” which is supported by the Fédération Bancaire Française (FBF).
Coming into effect in September 2016, this new framework was set out in 2015 and is based on the recommendations of the BCBS/IOSCO Working Group on Margin
Baring Asset Management (Barings) has launched the Baring Dynamic Absolute Return Fund, which will use long and short strategies to target a market neutral return. It will be managed by James Ind, supported by a multi asset investment team.
The launch builds on Baring Asset Management’s 13 years’ experience of running successful multi asset strategies and complements the firm’s extensive multi asset product range. Barings was one of the first firms to offer a multi asset fund with its flagship Dynamic Asset Allocation Fund and has since broadened its portfolio with products such as the Multi Asset Fund, the Dynamic
Foreside Financial Group, a provider of distribution and compliance services for open- and closed-end funds, exchange traded products, commodity pools, private placements, investment advisers and registered broker-dealers, has acquired Beacon Hill Fund Services,
Financial terms of the transaction, which is expected to close on 31 July, have not been disclosed.
In operation since 2008, Beacon Hill provides a variety of business management services to both US and non-US investment managers. With a staff of 22 professionals, Beacon Hill provides services to 19 clients with 144 funds and USD28.6 billion in assets.
“The acquisition of Beacon Hill brings together some of
