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The share price of corporates in the UK targeted by activist funds have outperformed the market during the Covid-19 pandemic compared to flat or negative performance among European and US counterparts.That’s according to a new study from professional services firm Alvarez & Marsal (A&M) looks at the share price performance of 245 corporates following their public targeting by activist funds. A&M looked at activist campaigns started between 1 January 2017 and 28 February 2020 and compared the share price performance of the targeted companies to market indices (S&P 500 and STOXX Europe 600).
A&M says the average targeted UK corporate’s
By A Paris – This year will be forever remembered as the one which saw a global pandemic taking over the world, widespread travel restrictions and significant market volatility. But in Singapore, 2020 can be considered in a more favourable light. Despite the less than auspicious environment, the jurisdiction reaped success in launching a new fund structure, generating manager interest in an otherwise turbulent period.
By Mark Voumard, Gordian Capital – Readers will be familiar with onshore domiciles such as Dublin or Luxembourg. How does Singapore differ?
“The introduction of the Variable Capital Company (VCC) structure earlier this year has been the latest in a number of initiatives undertaken by the Singapore government to grow the city state’s fund management industry and achieve its ambition of being the gateway to asset management opportunities in Asia”, says Allard de Jong, Head of the Fund Administration, Corporate Trust and Custody team of the Portcullis Group.
As the mass affluent investor segment is tipped for growth, wealth managers should ensure they have scalable solutions to manage the potential increase in client numbers which could come with capturing the progress in this area.
The outlook for the penetration of the Variable Capital Company legislation as a fund structure is upbeat as it soldiers on against the unfortunate timing of its launch, amid a global pandemic. More importantly, in practice the legislation works well and the fund launches have been successful.
The ASEAN region has demonstrated itself as a major area for investment and potential growth. However, much of this growth is still on the horizon and yet to be materialised. For the prospects of the ASEAN region to reach their true potential, the current environment requires cost efficiency, scalability and talent. These are critical factors to creating a supportive ecosystem.
The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) programme incentivises firms to modernise operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This programme, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.
TFG Asset Management, the alternative investment management unit of Tetragon led by Reade Griffith, is taking a minority stake in Contingency Capital, a new litigation finance-focused fund manager founded by ex-Fortress Investment Group partner and managing director Brandon Baer.
Contingency Capital, a multi-product global asset manager which will sponsor and manage litigation finance-focused investment strategies, will formally launch on 1 November.
As part of the deal, Tetragon will place an initial USD50 million commitment with Contingency’s first commingled investment fund, as well working capital and an option to invest further amounts. TFG Asset Management will also offer operational support, including
Specialist fixed income manager, BlueBay Asset Management (BlueBay), has appointed Adam Phillips in a newly created role as Head of Developed Markets Special Situations.Based in London, Phillips reports to Mark Dowding, Chief Investment Officer (CIO) and will be responsible for building out BlueBay’s capabilities within stressed and distressed credit where he will be leading the launches of new special situations investment strategies that will be established in the coming months.
The new strategies will complement BlueBay’s existing event driven credit strategy, which Adam will also be managing, alongside Duncan Farley and Tim Leary.
The team believes there is
