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Rebounding equity markets and credit spread tightening led to meaningful sequential-quarter recoveries of fund performance and balance sheet investment valuations for alternative investment managers (alt IMs) in Q2 2020, with the correction in liquid markets bolstered by unprecedented Fed stimulus, Fitch Ratings says. However, underlying portfolio company fundamentals remain suppressed by the economic fallout from the pandemic-driven recession, which could create investment opportunities over the medium term, depending on the speed and path of recovery.
Despite rebounds in fund performance, some firms recorded impairment charges on investments in energy and other sectors heavily impacted by Covid-19. Still, returns on current vintage
Moonstake, a blockchain company focused on staking technologies, has launched staking support for Cardano’s cryptocurrency ADA, one of top 10 cryptocurrencies by market cap, in Moonstake’s Web Wallet. After Cosmos, IRISnet, Ontology, Harmony and Tezos, Cardano became the sixth available coin on Moonstake Web Wallet.
On 29 July, the Cardano development team launched the long-awaited Shelley Mainnet. Shelley brings about opportunities for users to stake their ADA and help Cardano transition from a centralised, federated system to a fully decentralised system, with delegated staking features & rewards incentives. Shelley is the most significant upgrade by Cardano since its inception, bringing about
Firms can have a belts and braces approach to the security of the systems and tools they deploy, but staff training and communication can make or break their chances of success.
“We recommend overhauling policies and procedures, and implementing these via training which happens at induction and regular points thereafter,” advises George Ralph, managing director at RFA.
Cybersecurity has become a board level concern and many clients now prioritise it in their risk register. With SMCR reigniting its importance and responsibility, cybersecurity now also features heavily as a standard element in every ODD exercise. Essentially, if the investors are asking about
Artificial intelligence is enabling organisations to be more proactive in their approach to cyber threats. Work environments with greater levels of remote access could be deemed more vulnerable, but the element of automation in identifying and remediating potentially malicious behaviour provides a superior measure of security.
A key development in the realm of cybersecurity has been the creation of end-point detection and response or EDR.
John-Thomas Gaietto, executive director of Cybersecurity Services at Richey May & Co discusses this progress and the benefits it brings firms: “The general basis of the tool is that, unlike traditional malware software that requires
By A Paris – Hedge funds and alternative asset managers are responsible for over USD3 trillion in assets under management – many bright shiny diamonds for cyber criminals to pursue. Increased levels of remote access propelled by the Covid-19 pandemic are making these organisations even riper targets. So, in this environment, the cost of inaction or complacency around cybersecurity continues to mount.
According to IBM Security, the average cost of a breach within financial services is of USD5.85 million – this is well above the overall average of USD3.86 million per breach across all industries reviewed. Although the crisis has put many
Gilles Drukier has been appointed as Neuberger Berman’s head of insurance solutions for the EMEA region, effective 3 August 2020. Read the full story at Institutional Asset Manager…
OSL has secured approval-in-principle for Type 1 and Type 7 licenses from the Hong Kong Securities and Futures Commission (SFC) for automated virtual asset trading and brokerage.Read the full story at Institutional Asset Manager…
The SS&C GlobeOp Forward Redemption Indicator for August 2020 measured 3.08 per cent, up from 2.64 per cent in July.“SS&C GlobeOp’s Forward Redemption Indicator for August 2020 of 3.08 per cent represents a decline in redemption notices compared to the 3.41 per cent reported for the same period a year ago,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This favourable result continues the trend of generally positive asset retention data points since the COVID19 outbreak earlier this year, indicating investor confidence in the hedge fund sector remains strong.”
The SS&C GlobeOp Forward Redemption Indicator represents the
GoldenTree Loan Management II (GLM II) and its affiliated investment manager GoldenTree Asset Management, has closed a USD443 million collateralised loan obligation (CLO) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 8 (GLM US CLO 8), GoldenTree has issued 13 CLOs totalling USD7.5 billion under its GLM CLO strategy. Since its inception in January 2017, the GLM strategy was intended to be compliant with applicable Risk Retention regulations. While a US Court of Appeals ruling on 9 February, 2018 led to repeal of risk retention for open market CLOs, GLM CLOs are
Chicago-based hedge fund Citadel, and global market maker Citadel Securities are to open an new office in Singapore.
