Managers
The Cayman Islands is confident that the pan-European marketing ‘passport’ will be extended to alternative investment funds (AIFs) set up in the jurisdiction, according to the Alternative Investment Management Association (AIMA).
Cayman, where a high percentage of offshore hedge funds are registered, still awaits assessment by the European Securities and Markets Authority (ESMA). It was not included in the initial assessments which saw ESMA recommend the passport for Jersey, Guernsey and Switzerland under the Alternative Investment Fund Managers Directive (AIFMD).
But AIMA said that Cayman was well-placed to have a successful review in the near future.
Cayman has
Euro money market funds' (MMFs) assets under management (AUM) hit their lowest level in twelve months in the second quarter of 2015 and registered a drop of 21 per cent to EUR54 billion.
GBP- and USD-denominated MMFs also experienced a fall in AUM in Q2, albeit to a lesser extent, with a 6.4 per cent and 5 per cent decrease, respectively.
"The advent of net negative yields now affecting all Euro prime funds prompted investors to limit their euro-denominated cash balances and/or to invest directly in higher yielding instruments, such as short-dated bond funds or commercial paper," says Vanessa Robert,
With most investors believing that small-sized and mid-market buyout funds currently present the best opportunities in private equity, this article from Preqin Private Equity Spotlight, August 2015, examines whether the size of a buyout fund has any significant impact on returns.
According to Preqin’s latest investor survey, carried out in June 2015, over half of LPs (51 per cent) surveyed see small-sized and mid-market buyout funds as currently presenting the best opportunities in private equity. In contrast, just 10 per cent of investors believe that large-sized and mega buyout funds present the best opportunities.
Despite this investor view, private
Chicago Board Options Exchange (CBOE) has launched four new benchmark indexes in collaboration with Eurekahedge. Values for the new indexes will be available on CBOE's and Eurekahedge's websites beginning August 18.
The four new indexes, the first of their kind, were created to meet the demands of institutional hedge fund investors seeking benchmarks that measure the performance of distinct volatility-based strategies.
Hedge funds that invest in volatility-based strategies differ dramatically from one another and often have exposures on completely opposite ends of the volatility spectrum – some funds may be net long volatility, some net short and others neutral. CBOE
SS&C Technologies Holdings has acquired Citigroup's Alternative Investor Services business, which includes Hedge Fund Services and Private Equity Fund Services, for USD425 million, subject to certain adjustments.
"This acquisition is solidly in line with SS&C's strategy of combining organic growth with select, high quality acquisitions. Citi Alternative Investor Services clients can be assured of SS&C's commitment to continue to serve them with world class people, process and technology. We are excited about adding these talented employees and look forward to the ideas and passion they will bring to our organisation,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C
The business of asset management has grown exponentially more complex over the last decade. As system technology and data management improves, managers are devising ever-new investment strategies to find that elusive source of alpha.
Bank loan funds, direct lending funds, liquid alternatives, separately managed accounts that offer institutional investors sub-sets of a manager’s equity long/short strategy for example; all are bubbling away in a heady alchemical mix. This is putting an incredible strain on the operational model; one that no longer holds water compared to a decade again when the product universe was simple and managers operated free of regulation.
Convertible bonds were prominent among the 203 newly listed securities on the Channel Islands Securities Exchange (CISE) during the first half of 2015.
The number of new listings is up 14.7 per cent on the same time last year and takes the total number of listed securities on the CISE to 2226 at the end of June 2015.
Fiona Le Poidevin (pictured), Chief Executive Officer of the CISE, says: “It has been a strong start to the year for the CISE and it is especially encouraging that we have developed a new pipeline of business in convertible bonds.
Managed futures traders gained 0.87 per cent in July according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.48 per cent year to date.
“A rally in the value of the US Dollar sparked by the expectation of imminent Fed tightening, coupled with fears of China joining Japan and the Eurozone on the loosening bandwagon generated gains for CTAs," says Sol Waksman (pictured), founder and president of BarclayHedge.
“Short commodity positions also contributed sizeable gains as the S&P GSCI plunged 14.3 pe rcent fuelled by the rising US Dollar, slowing demand from China, and too much
Robert Zable is to become the lead portfolio manager of the Blackstone/GSO Senior Floating Rate Term Fund (NYSE: BSL), the Blackstone/GSO Long-Short Credit Income Fund (NYSE: BGX) and the Blackstone/GSO Strategic Credit Fund (NYSE: BGBeach Fund).
Zable will takeover following the retirement of the funds’ current lead portfolio manager, Lee Shaiman, on or before 30 September, 2015.
Zable is a Managing Director with GSO Capital Partners LP (GSO), the parent company of GSO/Blackstone Debt Funds Management LLC (GSO DFM), the Funds’ investment adviser, and serves as the Chairman of GSO DFM’s investment committee. Zable is also the senior portfolio manager
With its rich industrial heritage, large urban centres and sizeable working population, the Midwest region is a major contributor to US GDP. Preqin presents an overview of the private equity industry in this business hub, which you can download for free.
Read the full factsheet here, which contains key charts, tables and information on the private equity industry in the Midwest US.
