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CBAM, an alternative investment management firm, has closed its third European collateralised loan obligation (CLO), Bastille CLO 2020-3, totaling EUR300 million, with Citibank acting as lead arranger. This brings CBAM’s total CLO issuance to USD11.5 billion since the closing of its first CLO in June 2017 and its total Euro CLO issuance since July 2020 to EUR950 million.
As of 30 September, 2020, CBAM’s AUM stood at USD13.3 billion across multiple credit vehicles and separate accounts.
Schulte Roth & Zabel (SRZ), a law firm serving the financial services industry, has added Douglas S Mintz as a partner and co-chair of the Business Reorganisation Group. Mintz, who is based in the Washington, DC office, was previously a partner at Orrick, Herrington & Sutcliffe.Mintz’s practice focuses principally on the representation of creditors in financial restructurings, including secured and unsecured lenders, ad hoc committees of noteholders, equity sponsors and distressed investors. He has deep experience advising on public finance, energy, commodities and technology restructurings. At Orrick, Mintz co-led the firm’s hedge fund client initiative, representing private investment funds in
CTAs and managed futures hedge funds gave back their early-month gains during October’s market reversal, but they managed to stay generally flat for the month as equities tumbled to their second consecutive monthly loss.
New data from Société Générale suggests the reversal in equity markets was “one of the hardest movements for CTAs to navigate” last month, the French bank said on Friday morning.
But SG’s trend indicator suggests gains across the bond sector and currencies – particularly rising trends in European bonds, and currencies such as Mexican peso and JPY versus USD – helped stem losses elsewhere.
Commodity markets
This webinar explores the extent to which the impact of Covid-19 on global equities has influenced how portfolio managers construct trade positions. And whether accessing non-traditional data sets has helped them in this endeavour; both with respect to idea generation, and risk management. REPLAY NOW
BtcTurk, Turkey’s largest cryptocurrency exchange, and Tether, a blockchain-enabled platform that powers the largest stablecoin by market capitalisation, have made tether (USDt) tokens available on BtcTurk | PRO. BtcTurk | PRO allows users to circulate USDt tokens rapidly across integrated exchanges to take advantage of pricing differences, thereby reducing counterparty risks and improving trading privacy. As a highly innovative sidechain, Liquid provides guarantees on the speed and confidentiality of USDt token transactions to other Liquid-integrated exchanges and wallets.
“We anticipate a ready demand among the user base of BtcTurk | PRO for Tether,” says Paolo Ardoino, CTO at Tether. “The
Spring Valley Asset Management, an alternative investment manager specialising in the application of systematic investment strategies, has launched the Commodity Advantage Portfolio.The portfolio pursues a multi-strategy systematic approach to investing across a diverse selection of highly liquid commodity markets (including precious metals, industrial metals, energies, grains, foods, fibres and meats), offering the potential for attractive risk-adjusted returns, controlled downside volatility and distinct correlation benefits within a cash efficient (ie, low margin) investment vehicle. It utilises a series of proprietary forecasting models to “map” the prevailing alpha opportunity set for each individual commodity market based upon an assessment of market volatility
Portfolio managers face conflict every day as their ideas and levels of conviction are constantly tested. But as we all continue to adapt to remote working, finding a level of detachment from the office environment seems to be helping PMs re-affirm their edge and listen with greater clarity to their intuition. Could the home office now become a semi-permanent arrangement in pursuit of improved portfolio performance?
Half of the EDHEC-Rosk Alternative Indexes achieved positive performances in September, with Short Selling ending the month as the best performing strategy (1.39 per cent), followed by Merger Arbitrage (0.83 per cent) and Fixed-Income Arbitrage (0.79 per cent). The lowest performing strategy was CTA Global (-1.91 per cent), followed by Emerging Markets (-1.46 per cent) and Global Macro (-1.36 per cent).
Two equity-oriented strategies were negatively impacted by the downturn in the stock market, with a higher decrease for Long/ Short Equity (-1.09 per cent), and a limited drop for Market Neutral (-0.20 per cent). The third equity-oriented strategy, Event Driven,
Eventus Systems, a multi-award winning global trade surveillance and risk management software platform provider, has appointed Vincent Turcotte as Sales Director for the Asia Pacific (APAC) region, operating out of Hong Kong. Turcotte has more than three decades of experience at exchanges, broker-dealers and futures commission merchants (FCMs), most recently as Director, Asia Pacific for Intercontinental Exchange (ICE).
Reporting to Scott Schroeder, Eventus Global Head of Sales, Turcotte will play a key role in further building on the firm’s regional presence, which it established in Singapore in 2018. Eventus has also expanded its footprint in Europe this year; David Ririe
Biden win with split Congress is “best outcome” for riskier assets, says Pictet chief strategist
Biden win with split Congress is “best outcome” for riskier assets, says Pictet chief strategist