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Alternative investment marketplace iCapital Network has added of four senior leaders to is executive team: Michael Kushner, Chief Financial Officer; Jennifer Ashley, Chief People Officer; Diane Frankenfield, Chief Marketing Officer; and Stephen Jacobs, General Counsel.
iCapital, which offers advisors and their clients’ access to a curated menu of private equity and hedge funds. has experienced substantial growth in the last 12 months as it has significantly increased the number of advisors on its network, and expanded the scope of wealth management firms and general partners that leverage its technology to drive their growth. Alongside organic expansion, iCapital acquired the alternative investment
Hedge fund managers ended July 2019 up 0.53 per cent on an equal-weighted basis, and 0.70 per cent on an asset-weighted basis, according to data released by Eurekahedge.
Investor optimism towards the resumption of the US-China trade talks combined with the Fed’s anticipated rate cut supported the global equity market during the month.
Over the month of July, USD12.1 billion of investor outflows were recorded by the global hedge fund industry, despite performance-based gains of UD$18.1 billion. The industry AUM stood at USD2,292.4 billion as of June 2019.
GAMCO Investors has named Dennis J DeCore as a Managing Director to lead Gabelli Funds’ ETF business.
Gabelli Funds is a licensee of the Precidian Investments ActiveShares, a non-transparent, actively managed ETF which was recently approved by the SEC. Gabelli Funds expects that ActiveShares will be a significant offering to investors in the future.
DeCore has over 44 years of brokerage and asset management experience. Prior to joining Gabelli Funds in 2014, he was a Managing Director at Mitsubishi Securities where he executed share repurchases for large banking clients as well as implemented equity strategies for the firm’s proprietary account.
With the FCA’s Policy Statement PS18/8 due to come into effect from 30 September 2019, Authorised Fund Managers (AFMs) will need to publish Assessment of Value reports from the end of January 2020 (within four months of their funds’ year-end).
Designed to provide greater transparency for investors, PS18/8 requires AFMs to publish a breakdown of their funds’ quality of service, performance, costs, any economies of scale they may have been able to achieve, market comparisons with regards to services and rates and whether investors are in the most appropriate classes of units. They must subsequently be published annually at the
A global RegTech company has seen enquiries for its software triple as financial services firms prepare for a Post-Brexit landscape.
Lawson Conner has seen a such a marked upturn in demand for its software and services, as the possibility of Brexit approaches that it has taken on extra staff in Singapore and Luxembourg. The firm, which provides regulatory infrastructure and managed compliance, says that financial services firms are concerned about the implications of Brexit and the possibility of regulatory shifts afterwards.
Executive Director, Andrew Frost, says: “Brexit is definitely going to present regulatory challenges, which firms have recognised. Many are
The State Street Global Investor Confidence Index decreased to 75.9 in August, down 8.7 points from July’s revised reading of 84.6.
Investor confidence across all regions weakened, with the North American ICI decreasing from 80.3 to 72.5, the European ICI dropped from 98.6 to 89.0, and the Asian ICI fell from 91.8 to 89.2.
The Investor Confidence Index was developed by Kenneth Froot (pictured) and Paul O’Connell at State Street Associates, State Street Global Markets’ research and advisory services business. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling patterns of institutional investors.
Empaxis has selected InvestCloud to launch a new Turnkey Asset Management Platform, TAMP1, which has been designed to provide complete outsourcing of all operations for small- to medium-sized investment managers.
Due to increased competition and even greater fee compression, smaller asset managers and advisory practices are increasingly looking to cut back on operational costs, while still increasing the quality of service. Within the industry, TAMPs provide a fully-outsourced solution that take away operational burdens and alleviate costs associated with hosting and data centre fees, allowing managers to focus on delivering value-add services and increasing their bottom line.
Through this
The Pure Gold Company has seen a 632 per cent increase in people purchasing physical gold bars and coins over the last week, compared to the weekly average for 2019.
The firm says buyers are racing to secure the precious metal because they fear the combined effects of a possible no deal Brexit and the ongoing trade war between China and USA will lead to a global crisis.
Josh Saul, CEO of the gold investment firm, says: “Boris Johnson shutting down parliament has shattered any real hope that the country could leave with a deal and has fragmented UK politics
Omnia Markets, a one-stop platform aiming up to provide cryptocurrency-based data, proprietary and non-proprietary analytics, and market information and trends, has appointed JT Kostman, PhD to its advisory board.
Dr Kostman is a specialist in the near-term impact of AI and Frontier technologies. His career boasts serving as Chief Data Officer for Time Inc. and Chief Data Scientist for Samsung. He has served as a go-to expert for organisations including The National Association of Corporate Directors, The Chicago Council on Global Affairs, US Government Agencies and dozens of others.
“This is a milestone win for the Omnia team,” says Mitesh
The Securities and Exchange Commission has charged a Pennsylvania investment adviser with operating an investment advisory fraud involving over USD100 million in investments. The SEC also obtained an emergency asset freeze.
The SEC’s complaint alleges that Brenda Smith, and her fund Broad Reach Capital, LP, raised approximately USD105 million from approximately 40 investors by representing that she would invest their money in publicly traded securities through various trading strategies that she championed as providing consistent high returns. However, Smith made very few investments in these trading strategies, and instead largely used investors’ money to repay other investors and for her own personal investments. The complaint alleges
