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By Angele Paris – There is a growing interest in offering unlisted, interval and tender-offer closed-end funds to retail investors, providing them access to alternative, potentially higher yielding strategies. To realise this growth, the industry needs to support and educate registered investment advisors (RIAs) about these products who will in turn increase their clients’ knowledge and understanding.
“Everything is set up to see the marketplace for these funds really grow,” says Terry Gallagher (pictured), Executive Vice President, Director of Fund Accounting & Administration at UMB Fund Services. “We expect to see increased flows as RIAs get more comfortable with such funds,
Capital Markets technology specialist Neueda has partnered with Levyx Inc, a big data system software provider, to vastly increase data processing capacity for the Python community.
Through the new Helium-Python interface, Neueda and Levyx have significantly increased Python’s utility, offering increased efficiency and effectiveness to users within financial markets and beyond. The product has been released by Neueda.
Colin Pattison, MD Capital Markets, Neueda, says: “We are delighted to have worked with Levyx to create a solution that will open up new opportunities within the data science field.
“Historically, Python implementations have involved handling large data sets inside current
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for July 2019 measured 0.42 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.38 per cent in August.
“SS&C GlobeOp’s Capital Movement Index for August 2019 was 0.38 per cent, reflecting increased net inflows compared to 0.21 per cent net inflows for the same period a year ago,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “The hedge fund sector’s ability to attract and retain assets in the current highly volatile market environment is truly impressive.”
Hedge funds had another positive month in July, returning 0.44 per cent according to the Barclay Hedge Fund Index, compiled by BarclayHedge. By comparison, the S&P Total Return Index was up 0.66 per cent in July.
Hedge funds continue to build on their solid performance in the first half of the year, finishing July with a 7.68 per cent year-to-date return and positive returns in six of the past seven months. The S&P Total Return Index was up 21.69 per cent year-to-date through 31 July.
“Anticipation of the first interest rate cut by the Fed in more than ten years
Rational Funds has launched the Rational Special Situations Income Fund (RFXIX), which utilises an investment strategy primarily focused on non-agency residential mortgage backed securities.
The fund, which originally launched as a hedge fund in 2009 and was converted into a mutual fund by Rational Funds, retains the same strategy and management team and has an average annualised return of over 16 per cent since inception. The fund’s investment objective is total return consisting of capital appreciation and income.
RFXIX, which is Rational Funds’ third hedge fund conversion, invests primarily in pre-2008 non-agency residential mortgage backed securities (NARMBS) which have more
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.55 per cent in July, underperforming the 0.77 per cent monthly return of the HFRX Global Hedge Fund Index.
The Wilshire Liquid Alternative Index family is a joint offering between Wilshire Funds Management, the global investment management business unit of Wilshire Associates, and Wilshire Analytics, creator of the Wilshire 5000 Total Market Index.
“Markets were mixed as investors processed anticipated monetary policy communication from the Federal Reserve, as well as ongoing geopolitical concerns such as trade negotiations,” says Jason
Carey Olsen, together with JTC, has assisted secure mobile communications provider Criptyque in obtaining a Jersey virtual currency exchange licence to operate its cryptocurrency exchange platform, PryvateX, which is opening for registration soon.
The team behind Criptyque continues to build a secure and private ecosystem and, in addition to PryvateX, offers a number of services to customers, from an encrypted messaging platform (voice, text and email) to an innovative hardened cryptocurrency wallet. Designed to work in tandem with PryvateX, Criptyque has also developed PryvateCoin (PVC) which will be available to facilitate trades on the exchange and keep fees down.
BTIG has appointed Joe Passaro as a Managing Director and Head of Capital Markets. Passaro brings over a decade of key experience to BTIG’s growing capital markets businesses. He will be based out of the firm’s New York office and report into Matt Clark, who leads BTIG Investment Banking.
“We are pleased to welcome Joe to BTIG’s leadership team,” says Scott Kovalik, Co-Founder and Chief Executive Officer of BTIG. “His extensive knowledge of the financial sponsor universe, deep relationships with institutional investors and ability to assist clients executing complex trades and transactions will be extremely valuable as we continue to
Independent fund servicing provider Ultimus Fund Solutions (Ultimus) has appointed Nickolaus Darsch as Senior Vice President of Business Development.
In this role, Darsch will be responsible for building and strengthening strategic relationships with investment managers that can benefit from the Ultimus offering.
Darsch will focus on aligning the Ultimus suite of services to meet the needs of registered fund sponsors, primarily in the range of USD5 billion and USD50 billion in assets under management. In addition, he will help Ultimus further cultivate its relationships with the community of consultants, audit and legal firms, and other centers of influence that work
The Eurekahedge Hedge Fund Index was up 0.69 per cent in July bringing their year-to-date return to 6.56 per cent as global equity markets edged higher following expectations over a Fed rate cut.
The MSCI ACWI (Local) was up 0.83 per cent in July and 15.33 per cent as of July 2019 year-to-date supported by the gains in developed market equities and bonds over the month.
The MSCI ACWI (Local) ended the month up 0.83 per cent with US equities outperforming other markets. On the other hand, the trade dispute between Japan and South Korea, together with lacklustre economic data in
