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LexShares, a specialist in commercial litigation finance, has launched LexShares Marketplace Fund II (LMFII). With a USD100 million target fund size, LMFII will invest in litigation-related assets offered on the LexShares platform. LMFII opens on the heels of the company’s 100th legal claim investment, making LexShares one of the most active litigation funding firms in the world.
The firm closed LexShares Marketplace Fund I in January 2018, which was fully subscribed for USD25 million. Prior to this public launch, LMFII received commitments in excess of USD30 million, which includes two cornerstone institutional investors. LMFII is now accepting commitments from both institutional
The current market uncertainty and value discrepancy offers the biggest opportunity in volatility-based trading in a generation, according to Jerry Haworth (pictured), the chief investment officer of London-based 36 South Capital Advisors, who is preparing a new fund to capitalise on further volatility shocks up ahead.
Managed futures strategies slipped deeper into the red over the past week, having already started to give back many of their early strong 2020 gains last month – but short-term trend followers appear to have weathered the recent reversal, according to Société Générale data.
Société Générale’s main SG CTA index has lost 2.52 per cent so far in June, having earlier dropped almost 1 per cent in May. The index, which tracks the daily performance of a select pool of large managed futures strategies, has now fallen 3.76 per cent year-to-date.
Meanwhile, the SG Trend Index, which measures the net daily
FXCM Group has launched its UKOilSpot and USOilSpot CFD products which will represent the current spot price of West Texas Intermediate and Brent Crude. Customers may leave positions open indefinitely and avoid potentially thin liquidity in the days leading up to contract expiration.
Customers now have a choice. They may trade the current contracts, USOil and UKOil which have monthly expirations as they are based on the front month futures contracts. Alternatively, customers may trade perpetual USOilSpot and UKOilSpot positions which do not expire.
Both UKOilSpot and USOilSpot have the same CFD contract sizing and pip costs as FXCM’s Futures
The US Commodity Futures Trading Commission (CFTC) has made a whistleblower award of USD6 million to an individual whose reporting led the Commission to bring a successful enforcement action. This latest award brings the total amount awarded by the CFTC Whistleblower Program up to USD110 million since 2014.
According to a CFTC press release, the CFTC whistleblower provided credible, specific, and timely information.
“Once again, whistleblowers have demonstrated why they are the number one detectors of fraud and corruption,” says whistleblower attorney Stephen M Kohn, partner at the qui tam law firm Kohn, Kohn & Colapinto. “Using US whistleblower reward
Athanase is to acquire 70 percdent of the shares in Catella Fondförvaltning (CFF) for cash consideration of SEK126-154 million, depending on CFF’s development up to the transaction date.The consideration corresponds to the consolidated enterprise value of CFF and the effect on profit or loss is estimated at between -SEK13 and +SEK15 million, depending on CFF’s development until the transaction date. In view of the transaction, consolidated deferred tax assets have been reassessed, resulting in an impairment of approximately SEK70 million. Consequently, the aggregated loss after tax for the Catella Group for this is expected to amount to -SEK55 million to
Alternative asset Manager Balbec Capital (Balbec) has held the final close of InSolve Global Credit Fund IV, with total commitments of approximately USD1.2 billion, exceeding the Fund’s USD1 billion target and making it Balbec’s largest fund to date. The fund received significant backing from current Balbec clients and welcomed a number of new global institutional investors.
Consistent with the successful approach of Balbec’s predecessor vehicles, the Fund will seek to identify and capitalise on investment opportunities with a focus on a subset of non-performing loans where the borrower or assets are subject to an insolvency proceeding, restructuring, liquidation, or other
Smonik Systems (Smonik), a data management and reconciliation software and services provider has partnered with STRAIT Fund Services (STRAIT), a fund solutions company providing a full range of services for hedge funds, private equity funds, family offices, and other asset management firms. STRAIT will augment its robust back- and middle-office processes with Smonik’s automated product for data management and reconciliation, providing a dynamic solution for investment managers.
“As our clients’ investment strategies continue to evolve and increase in complexity, it is essential for us, as their trusted partner, to have the most sophisticated tools in place providing accurate, timely, and
Sterling Trading Tech (STT), a leader in compliance, risk and infrastructure solutions for equity, options and futures trading, today announced they have been certified by FINRA as an authorised CAT (Consolidated Audit Trail) Reporting Agent.After completing rigorous CAT beta-testing in FINRA’s test environment, STT has successfully completed file submissions in the production environment for all clients that have been FINRA approved for production reporting.
“Our team has dedicated hours of time and resources toward receiving this certification from FINRA,” says Erik Schmidt, Sterling Trading Tech Managing Director of Client Services. “We’ve stayed ahead of the FINRA implementation schedule in order
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 1.54 per cent in May, outperforming the 1.44 per cent monthly return of the HFRX Global Hedge Fund Index. The Wilshire Liquid Alternative Index family aims to deliver precise market measures for the performance of diversified liquid alternative investment strategies implemented through mutual fund structures, backed by a proprietary classification methodology.
“Markets continued to rally in May as optimism surrounding the development of a COVID-19 vaccine and the steady re-opening of the economy encouraged investors,” says Jason Schwarz, Chief Operating
