Managers
A new report by KPMG has found that European asset managers are strongly opposed to plans by the European Commission to categorise some UCITS funds as “complex” reported the Financial Times this week.
The report surveyed 23 fund houses accounting for 25 per cent of the EUR6trillion UCITS fund industry; 19 of them oppose the plans to divide UCITS into complex and non-complex products. This threat is arising from Mifid II and could potentially make it harder for managers to sell their products in non-European markets like Asia – where they are strongly favoured – and Latin America.
The point
Franklin Resources, which operates as Franklin Templeton Investments, has agreed to acquire a majority stake in K2 Advisors, an independent fund of hedge funds manager.
The acquisition will enhance Franklin Templeton’s alternative investments and multi-asset solutions platforms.
The proceeds of the acquisition will be used by K2 to purchase all of the equity currently held by TA Associates and to retire all of K2’s debt obligations. The current management of K2 will not sell any of its interests at this time and will receive no up-front consideration in the transaction.
Beginning in 2016, Franklin Templeton will acquire the remainder of
Palmer Square Capital Management, along with Montage Investments and Atlantic Asset Management, has agreed a partnership with Geneva Arbitrage Fund.
Geneva invests in equity opportunities of companies that are engaged primarily in corporate transactions such as mergers and acquisitions while simultaneously seeking to reduce portfolio risk through hedging.
In addition to securing investment capital, the relationship provides Geneva with access to the distribution channels of Montage and Atlantic.
"We are thrilled to offer our investors access to the experience and innovation of Geneva," says Christopher D. Long (pictured), president of Palmer Square. "Geneva strictly adheres to an investment process that
Alix Capital, the Geneva-based provider of the Ucits Alternatives Index family of indices, has launched six new single strategy UAIX indices, expanding its range to 11.
The UAIX indices are constructed following a proprietary systematic model developed by Alix Capital with the aim of outperforming the respective Ucits Alternative Index benchmark.
The new indices are as follows:
UAIX Emerging Markets
UAIX Event Driven
UAIX Equity Market Neutral
UAIX FX
UAIX Macro
UAIX Multi-Strategy
The UAIX indices comprise six to 15 Ucits hedge funds selected from the Ucits alternatives hedge fund universe using Alix Capital’s proprietary model, and are rebalanced quarterly.
Concerns have been raised by EFAMA, the European lobby for asset management, that the latest consultation paper from the European Commission on UCITS could damage the unified label of the fund brand reported Citywire Global this week.
The paper, entitled ‘Product Rules, Liquidity Management, Depositary, Money Market Funds, Long-term Investments’ – that is, UCITS VI – was released back in July and addresses the eligibility of an asset class as a UCITS fund. The European Commission called for industry feedback. EFAMA says that this could either see the scope of assets included under the UCITS umbrella structure widen or narrow.
KKR has confirmed that all necessary consents and regulatory approvals to acquire Prisma Capital Partners have been obtained and that the closing is anticipated to occur in October 2012.
KKR announced its agreement to acquire Prisma, a provider of customised hedge fund solutions, on 18 June 2012.
“We are pleased with Prisma’s performance and business momentum since announcing the transaction in June and we appreciate the support from Prisma’s clients. We believe that the combination of Prisma’s deep investment capabilities and KKR’s global footprint will create a unique offering in the market, and we look forward to Prisma becoming part
Alternative strategies within a Ucits framework witnessed further improvements in demand in the second quarter of 2012, according to the first in a series of quarterly reviews of the Ucits sector by Alceda Fund Management.
Tracking the Absolute Hedge Global Ucits Index, the Alceda review has found that the alternative Ucits sector grew to 292 funds in the second quarter of this year, from 282 in the first quarter, managing total assets of EUR82.5bn.
Against a challenging economic backdrop, Ucits funds declined 2.14 per cent for the quarter, reducing year to date gains to 0.47 per cent. The effects of
WTP Advisors’ Capital Markets division will separate from the company and become a standalone business effective immediately. The new business will be named Avalon Lake Partners and is relocating its headquarters to New York City.
Led by industry veterans Lou Sala, Jay Goldstein, and Ilicia Silverman, Avalon Lake will move away from tax advisory work and focus completely on providing a broad set of advisory services to the alternative asset management industry, namely hedge funds, private equity and family offices.
“The time has come for a firm to step up and become the preeminent provider of business support to
Alternative UCITS enjoyed further improvements in demand in Q2 2012, according to the first in a series of quarterly reviews of the UCITS sector produced by independent structuring specialis
Alternative investment company Aquila Capital’s AC Risk Parity 12 Fund has achieved four years of consistently positive year-on-year returns.
The fund has delivered 51.2 per cent since its launch, with annualised returns over the period of 10.9 per cent (AC Risk Parity 12 Fund EUR A, as of 31 August).
According to the latest Absolut Report Alternative Ucits Monitor, the AC Risk Parity 12 Fund ranks seventh in the category “Performance YTD (July) – Multi Asset” with a strong performance of 8.1 per cent as of end of July 2012.
Roman Rosslenbroich (pictured), co-founder and chief executive of
