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New York Attorney General Letitia James and New York City Corporation Counsel James E Johnson have announced the recovery of USD105 million in back taxes and damages from a hedge fund manager who defrauded New York state and New York City out of taxes on deferred-compensation income in 2017.
Thomas E Sandell through his firm, Sandell Asset Management Corporation (SAMC), recognised over USD450 million in management and performance fees in 2017 from investment management services performed in New York City, but instead of paying the state and city proper taxes on those fees, Sandell tried to dodge liability for tens
Digital asset investment products saw inflows of USD395 million despite a weak price environment, according to the latest CoinShares Digital Assets Flow report.
The report reveals there were almost no outflows but highlights increasing hesitancy to invest among investors.
To put the weak price environment into context, prices remain up 61 per cent year to date, and inflows in this current quarter are only 4 pet cent lower than the record inflows of USD4 billion seen in Q4 2020.
Bitcoin saw the highest inflows at USD288 million, but on a proportional market capitalisation basis, ether and polkadot saw higher inflows of
Northern Trust has paired up with Two Sigma to offer Venn, the quantitative investment specialist’s cloud-based analytics platform, to its clients.
Christopher Cruden, manager of the currency and gold-focused CTA strategy Insch Kintore, hopes to capitalise on “ideal” elevated volatility levels in the commodity this year, following a positive start to 2021.
Quincy Data has expanded its lowest known latency market data services to Canada. The Quincy Extreme Data (QED) service now distributes select Aurora, Illinois-sourced futures data at Toronto’s TMX data center at the lowest known latency.
Quincy Data redistributes the full range of its select Equity Index, US Treasuries, Metals, Energy, and FX futures data at TMX via the industry-leading QED service.
Stephane Tyc, Quincy Data Co-Founder, says: “Canadian markets are quite dynamic, with an active community of local traders. Toronto has also attracted meaningful interest from global firms. Access to the lowest latency market data is critical for
Aspect Capital, a systematic investment manager, is further expanding its use of OpenGamma’s derivatives analytics across the range of markets it trades.
OpenGamma’s analytics track risk exposure and help maintain fund liquidity. OpenGamma’s breadth of coverage for exchange and broker margin methodologies has made it the partner of choice for Aspect Capital since 2018.
Aspect Capital is always seeking new opportunities, and trading new markets comes with hidden challenges. For example, futures and options contracts trade on local country exchanges, and each exchange has its own specific approach for calculating derivatives margin.
To help control risk and manage
Man Group, the publicly-quoted London-headquartered global hedge fund group, has seen its funds under management hit record highs, with its hedge funds and alternative strategies posting strong performances amid 2020’s unprecedented coronavirus-fuelled turbulence, despite a fall in annual pre-tax profits for the company.
The FTSE250-listed group’s funds under management surged to a new high of USD123.6 billion last year – a USD5.9 billion rise from the USD117.7 billion recorded at the end of 2019.
While its investment performance totalled USD3.3 billion in 2020, down from USD10.1 billion the previous year, Man attracted net investor inflows of USD1.8 billion, which reversed
International professional services provider, Equiom, has appointed Gavin Devitt as Head of Client Solutions, Fund Governance.
Based in London, Devitt has overall responsibility for promoting Equiom’s fund services globally, drawing on its capabilities and expertise across key funds markets such as the Cayman Islands, Ireland, Luxembourg, the Netherlands and the Crown Dependencies. His appointment comes hot on the heels of Equiom’s recent acquisition of an Irish Fund Management Company.
Devitt says: “I am excited to join a business with a truly global reach and at such an interesting time in the industry right now – Brexit, Ireland’s new Investment Limited
TraditionDATA, the data arm of Compagnie Financière Tradition (Tradition), has hired Michael Kirby as a senior member of the Data Sales team in the Americas.
Read the full story at Institutional Asset Manager…
The USD6 trillion foreign exchange (FX) industry is in the midst of a tech revolution, with cloud computing and trading technology upgrades set to become the sector’s major disruptors in 2021 and beyond, according to new independent research commissioned by Integral, a provider of FX SaaS technology solutions and trading platforms.
Read the full story at Institutional Asset Manager…
