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Alternative asset manager Cheyne Capital Management (Cheyne Capital) has closed its inaugural European Strategic Value Credit Fund (SVC) having scaled back subscriptions to the Fund’s capacity limit of EUR1 billion.
The Fund, launched one year ago and managed by veteran credit investor Anthony Robertson, employs a value-oriented, opportunistic credit strategy which seeks to capitalise on the accelerated sell-down of legacy mid-market corporate loans by European banks, and to take advantage of increased dislocation and heightened illiquidity in sub-investment grade credit markets as the current late-stage credit cycle advances.
The Fund’s investor base comprises a wide range of institutional investors across
Lazard Asset Management has expanded its quantitative equity platform with the addition of a San Francisco-based investment team.
The new Lazard US Systematic Equity team comprised of Oren Shiran, Philip Summe, Stefan Tang, and Seavan Sternheim, focuses on capturing fundamental insights within a quantitative framework. The systematic investment process employed by the team utilises a multi-model approach to consistently identify and capture compelling inefficiencies. Currently, the team invests in companies listed in the US with a market capitalisation below USD10 billion and manages long-only and long/short portfolios.
The team joins LAM from Baylight Capital, which they founded in 2013. Each
Swiss data specialist SIX has partnered with SimCorp to provide financial institutions with greater global sanctions data coverage.
The partnership between SIX and SimCorp, aims to address and streamline compliance processes around sanctions, eliminating the risk of breaches, which can be damaging to financial institutions. As a result, SimCorp’s clients can now access up to date global sanctions data directly from SIX, integrated into the Compliance Manager module of SimCorp Dimension. This enables compliance officers to detect breaches against the supported sanction regimes pre and post-trade.
The Sanctioned Securities Monitoring Service from SIX provides a list of entities and issued
When reviewing middle-office outsourcing proposals, this comment is not uncommon. However, the inclination to evaluate outsourcing by extrapolating in-house operating budgets and comparing them to outsourcing proposals is an insufficient method for determining the total value of a proposed outsourcing relationship.
The pace of hedge fund redemptions slowed in April but continued for a second straight month with USD9.4 billion in net outflows worldwide, down from USD11.0 billion in March. Despite the outflows, industry assets under management increased to more than USD3.09 trillion due to USD33.6 billion of trading profits for the month.
April redemptions represented 0.3 per cent of hedge fund industry assets, according to the Barclay Fund Flow Indicator, published by BarclayHedge, a division of Backstop Solutions.
Recession fears stoked by an inverted yield curve, threats of escalation in the US-China trade dispute and ongoing uncertainty over the UK’s
INDOS Financial, an independent fund depositary and oversight business, has appointed Seymour Banks as Head of ESG – Environmental, Social & Governance.
Banks will be responsible for leading and developing INDOS’s independent ESG screening and verification service to asset managers and their stakeholders.
Banks has over 20 years of experience in the investment management industry, predominantly in the alternative asset space. Before INDOS, he was CEO of Hilltop, a boutique fund of fund business and prior to that a Managing Director of Signet Capital. His investment management career started in 1996 at Barclays Global Investors where he was involved
Intertrust, a global provider of administrative services to corporate, fund, capital markets and private wealth clients, has acquired Viteos, a provider of technology solutions for hedge funds, private equity, real estate, private debt and other alternative asset managers, from PPC Enterprises, FiveW Capital and Viteos management.
Viteos has approximately 715 employees and operates a global delivery model with its headquarters and sales team in the US supported by Centres of Excellence in India. Viteos delivered revenues of USD 52 million, 94 per cent in the US, having grown at an organic CAGR of 22 per cent over the last two
Broadridge Financial Solutions has launched a change management service to help companies design their target operating models to be compliant with the upcoming Securities Financing Transactions Regulation (SFTR).
The new service provides a practical blueprint for front-to-back changes to overall architecture, organisational structure, business processes and location strategy. In addition, Broadridge is offering project management, business analysis and testing support to augment internal project teams and help firms comply with SFTR in a timely manner.
SFTR is part of the European Union’s implementation of the global effort to regulate shadow banking and increase transparency in the securities finance markets.
IHS Markit’s ClearPar service is now delivering syndicated loan trade settlement and trade funding information directly to custody systems using electronic messaging.
The advance improves accuracy at custodians and reduces the risk of penalties that arise when buyers are late in making payments on loan trades.
JP Morgan Securities Services and BlackRock are the first two organisations to benefit from the new Custodian Services Messaging solution from ClearPar which delivers electronic messages covering notice of settlement date, settlement amounts and wire instructions to custodians and trustees.
“Our messaging solution for trade funding instructions brings another layer of automation to the
Alma Capital Investment Management is to acquire DWS’s Hedge Fund UCITS business, which provides investors with access to liquid alternative investment strategies in regulated UCITS funds through the DB Platinum fund range.
The DWS Hedge Fund UCITS business selects third party hedge fund managers to build regulated UCITS funds which it distributes to an institutional client base. The platform has EUR2 billion in AuM (as of 31 March 2019) across six hedge fund UCITS using a broad range of strategies including alternative credit, event driven, managed futures and global macro. Investors are spread across the UK, Switzerland, Germany, Spain, France,
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