Managers
Temenos Group, a provider of software to financial institutions globally, has acquired Multifonds, a global provider of fund administration software.
The acquisition will give Temenos additional scale, access to highly complementary products, client relationships with more than 30 of the world’s largest financial institutions, and exposure to the fast-growing fund administration market. Following the acquisition, Temenos now provides mission-critical software to 38 of the top 50 banking institutions in the world. Temenos is paying EUR235m to acquire Multifonds from a shareholder group led by growth equity investor Summit Partners. The transaction is being funded through a mixture of cash and
Bermuda-licensed fund administrator ILS Fund Services has reported growth in assets under administration (AUA) to USD3 billion and the company now provides services to 27 ILS funds.
“We are extremely proud of this achievement and very thankful to our clients that have supported and grown with us since we opened our doors for business in early 2012,” says Brian Desmond, a Founder and Director of the Company. “It’s been a busy and exciting time in the ILS space the last few years and we see this trend continuing for the foreseeable future. Our growth in assets reflects the success of
February was a risk-on month in markets, with investors deploying capital and equities rallying globally, while perceived safe-haven assets, such as US Treasuries, UK Gilts, German Bunds and gold sold off.
The MSCI World index was up 5.9% in February, which more than offset January’s losses. This backdrop proved positive for hedge funds with the HFRX Global Hedge Fund index up 2.0%.
February’s buoyant equity and credit markets were largely a continued reflection of the expected impact of the ECB’s January QE announcement, according to Anthony Lawler, portfolio manager at GAM.
“Following the announcement, hedge fund exposures were rewarded
SYZ Asset Management’s OYSTER – European Corporate Bonds EUR fund has been ranked best fund in the UK over three years and ten years by Lipper in the “Bond Euro – Corporates” category.
OYSTER – European Corporate Bonds EUR is a UK-registered sub-fund of the OYSTER SICAV which is a Luxembourg domiciled UCITS managed by SYZ Asset Management (Luxembourg) SA. This accolade underlines the breadth of winning strategies offered by SYZ Asset Management, which is already well-known for its European equities franchise. Indeed, in the past, Absolute Return and Dynamic Allocation funds managed by SYZ Asset Management have received several
LCH.Clearnet’s SwapClear service will be launching new interest rate portfolio margining capabilities for its members and their clients around the world.
Under the new offering, market participants using SwapClear, the largest interest rate derivatives liquidity pool, and LCH.Clearnet's listed rates service will be able to maximise their margin offsets between OTC and listed interest rate derivatives, allowing them to more efficiently manage their collateral obligations.
Portfolio margining will be available on an open access basis, to regulated venues that list suitable interest rate derivatives. The initiative is expected to go-live within 12 months, subject to regulatory approval.
Daniel Maguire, Global
The February 2015 average daily transaction value on the Euronext cash order book stood at EUR8,247 million (+24% compared to February 2014).
The average daily volumes on equity index derivatives were down at 225,995 contracts (-15% compared with February 2014), and the average daily volumes on individual equity derivatives were down at 264,767 contracts (-8% compared to February 2014).
Activity on commodity derivatives remained strong in February with an average daily volume of 52,474 contracts traded, up 18% when compared to February 2014.
Euronext had nine new listings in February that altogether raised more than EUR2 billion. In addition EUR1,211
Multi-strategy hedge fund manager Deimos Asset Management has launched a new hedge fund management business with a strategic investment from Ares Management.
Deimos was formed through a management buyout of Guggenheim Global Trading, LLC, the former multi-manager, multi-strategy hedge fund platform of Guggenheim Partners. Ontario Teachers’ Pension Plan (Teachers) is an anchor investor in Deimos’ multi-strategy product through a managed account platform.
Deimos is led by Patrick Hughes and Loren Katzovitz, former co-heads of Guggenheim Global Trading, and Mark Standish, a former Group Executive of Royal Bank of Canada and Co-CEO of RBC Capital Markets, as Managing Partners. Deimos is
The German financial regulator (BaFin) has recently adopted a reciprocal private placement policy whereby German funds not within scope of AIFMD are allowed to be privately placed into other EU member states, with corresponding funds from EU member states allowed to be privately placed into Germany on an expedited basis.
Hassans has taken a leading role in the drafting of a new private placement regime for Gibraltar, in part to satisfy BaFin’s requirements to gain reciprocal rights, and has acted for the first Gibraltar fund to gain approval from BaFin to privately place into Germany on a reciprocal rights basis.
RCM Alternatives is to join forces with Attain Capital Management, acquiring its fund offerings, education, research and database assets while bringing its principals and employees under the RCM umbrella.
The transaction is expected to close in the first week of March.
Both Chicago-based companies specialise in pairing high net-worth individuals, investment advisors, and institutional investors with commodity-focused managed futures investments through separately managed accounts and private funds. The combination of these leading companies in the managed futures space underscores the growing demand for access to alternative investments that can work as a hedge against market volatility and provide diversification through
A new hedge fund, first and foremost, needs to raise investment. There are a many factors which differentiate a successful investment round from an unsuccessful one, not least the experience of the fund managers, and whether the proposed strategy is convincing. All funds however need to demonstrate best practice around their risk.
