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LoCorr Funds is to acquire Steben & Company, an alternative asset manager that specialises in multi-manager alternative investment products.
LoCorr has also made a number of additions to its distribution team.
Steben & Company, headquartered in Gaithersburg, Maryland, is an alternative investment manager that launched its business in 1989. The company specialises in multi-manager products including fund of hedge funds and managed futures strategies. Steben’s investment philosophy is defined by high conviction, actively managed exposures with a focus on more liquid, lower beta strategies.
“This is a very exciting time for our business,” ssaysaid Kevin Kinzie, Chief Executive
UBS Hedge Fund Solutions (HFS) is repositioning the UBS Multi Strategy Alternatives fund, a UCITS fund investing via DB Platinum IV UBS Multi Strategy Alternatives.
The Fund commenced trading in September with USD490 million in AUM and six high conviction hedge fund strategies across equity hedged, trading and relative value strategies, with the intention to opportunistically add more managers over time. Each account in the Fund is managed by its allocated sub-investment manager, resulting in the fund directly owning the underlying securities and avoiding an additional layer of expenses. The Fund, managed to be UCITS-compliant overall, allows for a wider
Stableton Financial (Stableton), a European platform for Alternative Investments, and securitisation specialist GENTWO are entering into a strategic cooperation.
The goal of the cooperation between the two Swiss-based companies is to provide bankable and customised access to sophisticated alternative assets across liquid alternatives, private debt, private equity, and real estate. The particular focus is on underlyings which were previously not available to financial intermediaries and their clients due to the difficult access and non-bankable form. Current solutions include alternative equity, market-neutral strategies, managed futures, volatility and tail-hedge, alternative lending, value-added real estate, and selected startups for a broader audience.
IHS Markit has launched the IHS Markit Global Carbon Index, the first benchmark for the global price of carbon credits.
According to the IHS Markit Global Carbon Index, the global weighted average price of carbon credits is USD23.65. Since the beginning of 2018, the total return potentially gained by investors in global carbon is 132 per cent, index data shows.
The design, construction and administration of the IHS Markit Global Carbon Index is a result of extensive collaboration among the firm’s Indices, Environmental and Energy businesses, including OPIS, the company’s energy price reporting arm which offers data and pricing
Investors redeemed an estimated USD6.51 billion from the global hedge funds business in August 2019, bringing year-to-date (YTD) flows to a negative USD63.61 billion, according to the August 2019 eVestment Hedge Fund Asset Flows Report.
Performance also reduced assets as total industry AUM declined to USD3.259 trillion last month.
The majority of primary strategies eVestment tracks actually saw asset inflows, but large outflows among Macro hedge funds (-USD6.18 billion) and Long/Short Equity funds (-USD5.33 billion) in August dwarfed those other inflows. YTD Long/Short Equity funds are the biggest asset losers among primary strategies eVestment tracks, seeing outflows of -USD31.14
Broadridge Financial Solutions, is working with FundsLibrary, a provider of digital fund data and regulatory solutions, to develop a new offering for European wealth and asset managers to address the challenges posed by MiFID II Ex-Post Costs and Charges and Solvency II.
New rules around MiFID II’s ex-post disclosure have introduced greater transparency for investors and have also generated unprecedented scrutiny on the costs and charges that wealth and asset managers impose on their clients. In the initial phase of MiFID2 Article 50, more than 1,300 firms informed the Financial Conduct Authority of inaccuracies in their reporting.
Solvency II
Crystal Capital Partners has rolled out a new proprietary e-commerce portfolio construction platform that aims to make building institutional private equity and hedge fund portfolios as simple as adding items to an online shopping cart.
Advisors can select from a diverse list of vetted institutional private equity and hedge fund exposures across various strategies, add them to their cart and, within seconds, generate an institutional-quality portfolio proposal for client presentations.
“With 25 years at the forefront of alternative investing, it is our ongoing commitment to remove the complexities and barriers to entry associated with the asset class and to smoothly pave
Transaction Network Services (TNS) has added to its market data portfolio by becoming a Vendor of Record for Euronext Derivatives Market Data.
TNS’ new fully managed Euronext Derivatives Market Data service allows financial market participants to lower the cost of accessing Euronext’s extensive range of derivatives and fixed income assets. It can also be extended to provide equities market data if required.
“TNS’ low-latency, high-capacity connectivity provides optimal market data delivery,” says Stefano Durdic, Managing Director of TNS’ Financial Services business. “We simplify the process of obtaining Euronext Derivatives Market Data and can, at the same time, help customers
OTCX, a leading multi-dealer bilateral RFQ platform for off-venue interest rate derivatives, has integrated with thinkFolio, IHS Markit’s investment management platform.
thinkFolio offers its clients advanced modelling and trading management tools for all asset classes, including fixed income and derivatives instruments. However, many of these derivatives are still traded via voice, chat or email. OTCX, by linking clients directly to their dealers, aims to bring trading workflow efficiencies and reduce operational risk due to manual input. thinkFolio clients are now able to ask for prices and negotiate interest rate swaps across G10 and EM currencies on outrights, curves, flys or bespoke
SIX has launched a new technology interface designed to eliminate the challenges associated with collateral management. Called Collateral Cockpit, the interface aims to join up fragmented front and back office information systems to give repo professionals the ability to view and manage collateral in real-time, on one platform.
Initially, the technology will serve the Swiss repo market through an initiative driven by the Swiss National Bank.
Currently, collateral is managed across the front and back offices through systems developed by a range of technology services providers. The complexity, and lack of visibility, brought on by this diversity of systems
