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Sprott Asset Management (SAM) is to acquire Tocqueville Asset Management’s gold strategy asset management business, with Tocqueville gold investment team comprised of Senior Portfolio Manager John Hathaway and Portfolio Managers Douglas Groh and Ryan McIntyre will join Sprott Asset Management on closing.
“We are pleased to be acquiring Tocqueville’s gold strategy asset management business,” says Whitney George, President of Sprott. “John Hathaway and his team are among the world’s most respected gold equities managers and we have enjoyed an excellent working relationship during the planning and launch of our joint venture over the past year. This transaction is a natural
Prime Trust, a crypto qualified custodian and trust company, has become the first US-based Qualified Custodian to partner with Fireblocks, a secure transfer platform for digital assets.
In the last eighteen months, over USD3 billion of digital assets disappeared from various institutions due to exchange hacks, insider fraud, and human error.
Fireblocks’ technology provides a “secure highway” for crypto that eliminates the theft of private keys or compromise of credential/API keys and deposit addresses. The firm uses multiparty computation (MPC) and patent-pending chip isolation technology (SGX) to secure digital asset transactions from potential hacks and human error. As the first
Electronic marketplace operator Tradeweb has reported a new quarterly record for average daily volume (ADV) of USD753.8 billion, representing an increase of 39.6 per cent.
The company also saw new quarterly records for ADV in interest rate swaps and mortgages and US high-grade credit which accounted for 12.4 per cent of TRACE volume.
Gross revenue increased 11.4 per cent (13.2 per cent on a constant currency basis) to a record USD190.5 million for the second quarter of 2019 from USD171.0 million for the second quarter of 2018. Net income decreased to USD24.8 million for the second quarter of 2019 from
Axioma, a provider of enterprise risk management, portfolio management and regulatory reporting solutions, has added a new United Kingdom equity risk model (AXUK4) to its next-generation Equity Factor Risk Model suite.
The release builds on the existing risk models, offering enhanced country-specific content to meet the risk-management needs of investors.
The new AXUK4 model delivers risk insights on over 6,000 United Kingdom-listed securities, including REITs and ETFs. The updated model incorporates deep daily history, with coverage starting in 1997 to enable portfolio construction and back testing, transparent attribution, and hedging.
“Axioma’s new United Kingdom equity risk model is an exceptional
Pictet Asset Management has added a new fixed income strategy to its USD10 billion actively managed total return franchise – the Pictet TR-Sirius fund. The strategy employed by Sirius is liquid global macro emerging market (EM) long-short fixed income.
Pictet TR-Sirius invests in a wide range of EM sovereign bonds, interest rates and currencies, with the aim of generating alpha in all market conditions. It intends to minimise directional bias to beta or carry and avoid downside risk. The fund has no benchmark constraints and aims to exceed the LIBOR overnight rate by 6-8 per cent gross return, with an
In a new study of the nation’s largest SEC-registered hedge fund advisers, data reveals that advisers are taking a conservative, long-term approach to their business decisions, regardless of asset declines experienced by many from 2017 to 2018.
The study confirms the notion that larger advisers are generally much more institutionalised in their approach, and have built their businesses to withstand short-term marketplace cyclicality. The Seward & Kissel 2017/2018 Form ADV Study is a first-of-its-kind report from the law firm to the hedge fund industry, which regularly uses data analysis to extract insights into the state of the hedge fund marketplace. The full Study,
Vela, an independent provider of trading and market access technology for global multi-asset electronic trading, has added the IMC Electronic Liquidity Providing (ELP) Systematic Internaliser (SI) to its growing list of global SMDS feed handler coverage.
Vela’s software-based feed handling solution, SMDS, provides ultra-low latency, high performance, normalised access with global coverage and support for all major asset classes. Forming part of a wider MiFID II offering, Vela has onboarded a range of Systematic Internalisers helping clients to consolidate all types of disparate liquidity across Europe. The offering can also be fully managed via Vela’s Ticker Plant Appliance.
Technology-driven,
Assured Guaranty’s subsidiary Assured Guaranty US Holdings (AGUS) is to acquire all of the outstanding equity interests in BlueMountain Capital Management (BlueMountain) and its associated entities for a purchase price of approximately USD160 million, subject to certain adjustments.
BlueMountain is an alternative asset management firm with USD19.3 billion in assets under management (AUM).The acquisition is expected to be completed in the fourth quarter of 2019, subject to certain customary closing conditions, including the receipt of consents and regulatory approval. As part of the agreement, BlueMountain’s co-founder, Chief Executive Officer and Chief Investment Officer, Andrew Feldstein, intends to join Assured Guaranty
US Commodity Futures Trading Commission Chairman Heath P Tarbert has announced the following appointments to the CFTC’s executive leadership team.
Summer K Mersinger will serve as Director of the Office of Legislative and Intergovernmental Affairs, while Suyash G Paliwal will serve as Director of the Office of International Affairs. Both Mersinger and Paliwal will join the CFTC in August.
“I am grateful that Summer and Suyash will be joining our team of A-players. My office has moved quickly to bring in the best and brightest, and Summer and Suyash are no exception,” says Chairman Tarbert. “The CFTC is tackling unfinished
The rise in popularity of ETFs in recent years, as well as the continuing appeal of mutual funds has seemingly given index-based products the upper hand in the old passive versus active investment debate. But could active management be posed for a comeback? Tanzeel Akhtar investigates…
Whenever the active versus passive investment debate rears its head, discussions about fees and performance are never far away. While index-based funds are cheaper, the performance potential of hedge funds and other active investments is greater, so the argument goes. The truth of the matter though, is not so clear-cut.
Trip Miller, managing partner
