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MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has Implemented Anaplan for the use of carried interest modelling for its alternative investment clients with improved real-time planning and decision-making processes.
With the waterfall allocation methodology, MUFG Investor Services helps its clients move away from traditional, excel-based models to more modern processes that provide increased controls, accuracy and efficiency around inputting data, detailed calculation support for carried interest calculations, and the ability to create carried interest forecasting scenarios. The new tool enables MUFG to scale and centralise the process significantly, in addition to reducing the inconsistency
FINSIA, an Australasian financial services professional body, is to introduce an ethics test for Australian Bankers and securities market professionals. The test has been developed in partnership the Chartered Institute for Securities & Investment (CISI).
Chris Whitehead, FINSIA CEO, says: “FINSIA’s purpose is to raise standards of professionalism with the intention of rebuilding trust in the Australasian financial services sector. There is no better time to launch the ‘IntegrityMatters’ program with conduct and decision-making being placed under the microscope post Royal Commission.
‘IntegrityMatters’ is part of a suite of CISI products, including the ‘Integrity in the Workplace’ workshop, focusing on
Hedge funds extended their winning streak to a second month with a February return of 1.24 per cent, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
By comparison, the S&P 500 Total Return Index rose 3.21 per cent for the month. Year to date, hedge funds gained 4.98 per cent while the S&P was up 11.48 per cent.
“Markets quickly overcame the downdraft precipitated by a strong US wage growth report that stoked inflation fears and rising interest rate jitters early in the month,” says Sol Waksman (pictured), president of BarclayHedge. “Multiyear highs for corporate profits and consumer
The Exchange Council of the European Energy Exchange (EEX) has welcomed the news that EEX has been awarded Recognised Overseas Investment Exchange (ROIE) status for the United Kingdom by the Financial Conduct Authority (FCA).
Effective since 21 February 2019, the ROIE status ensures that the exchange will be able to continue to operate in the UK regardless of the consequences of the upcoming Brexit. Furthermore, the Exchange Council welcomed the confirmation that EEX’s clearing house, European Commodity Clearing (ECC) is benefiting from the Temporary Recognition Regime by the Bank of England (BoE) which enables ECC to continue to offer clearing
The SS&C GlobeOp Forward Redemption Indicator for March 2019 measured 3.49 per cent, up from 3.42 per cent in February.
“SS&C GlobeOp’s Forward Redemption Indicator for March 2019 was 3.49 per cent, an uptick from the record low March redemptions of 2.91 per cent reported for the same period a year ago,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Still, the 3.49 per cent for March 2019 is favorable compared to historical averages and is in line with other data points showing hedge fund asset retention remaining stable in the wake of several months of market volatility.”
Broadridge Financial Solutions has integrated SWIFT global payments innovation (gpi) for its corporate clients and is now on-boarding users.
The solution, introduced to enhance the speed, transparency and end-to-end tracking of cross-border payments, is now available through Broadridge’s financial messaging application (FinMApp) to all SWIFT members.
Having successfully integrated SWIFT Standard Release 2018, Broadridge clients can access the market infrastructure’s gpi technology through FinMApp, which delivers transaction monitoring, management, translation and reporting features on international payments to over 100 multi-national organisations. The move comes well in advance of the 2020 deadline set out by SWIFT to transfer all cross-border
Fintech company Quoine is to integrate KRM22’s market surveillance product on its Liquid platform which provides trading, exchange and next generation financial services powered by blockchain technology.
Inspired by the disruption introduced by blockchain and digital currencies, Quoine focuses on making financial services accessible to all. It provides cryptocurrency software that offers superior security capabilities and liquidity, and makes buying and selling of digital assets easy using Bitcoin, Ethereum, QASH and multiple fiat currencies.
Liquid will use Irisium to identify and investigate manipulative behaviours and suspicious trading practices on its exchange, allowing for greater control and improving market integrity.
Bob Baur, Chief Global Economist, Principal Global Investors, comments on the latest FOMC statement…
The FOMC statement confirms our expectation that there would be no rate hikes in 2019.
A key takeaway from the FOMC statement is that the Fed doesn’t want to raise rates above neutral. The potential for no further rate hikes in 2019 suggests the Fed doesn’t have to slow the current growth rate of the economy.
With a big change in direction in January’s meeting and a roaring market, I’m surprised at how dovish a position the Fed took. The jobs market is hot with
Managed futures posted positive results overall in February with a 0.32 per cent return for the month according to the Barclay CTA Index. Despite February’s positive results, however, the index is down 0.16 per cent year to date.
Five of eight of the CTA sectors tracked in the Barclay CTA indices were in positive territory for February, though the agriculture and currency sectors were a drag on performance.
“CTA funds got in step with equity markets in February, and those able to sit out a week-long energy reversal at the beginning of the month were rewarded by month-end,” says Sol
Platinum Asset Management, an equity-focused global investment manager based in Australia, has gone live using Catena technology’s TRACE Reporting solution to meet its OTC derivatives transaction reporting requirements for European Market Infrastructure Regulation (EMIR).
Platinum will also be taking advantage of enhancements to TRACE Reporting that support Australian lifecycle reporting, which is required by Australian regulators beginning in July 2019. TRACE Reporting is a software-as-a-service (SaaS) platform that manages a wide range of functional requirements for trade reporting, including cross-asset coverage, valuation and collateral reporting, reconciliation, and multi-jurisdiction support, including ASIC, CFTC, EMIR, HKMA, MAS, MiFID II, and Securities
