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Man Group has announced net inflows of USD10.8 billion for the financial year ended 31 December, down from the USD12.8 billion seen in 2017.
Funds under Management (FUM) totalled USD108.5 billion as at 31 December 2018 compared with USD109.1 billion in 2017, while adjusted profit before tax (PBT) fell to USD251 million in for the year from USD384 million in 2017.
Luke Ellis (pictured), Chief Executive Officer of Man, says: “2018 was a more difficult year for the asset management industry, characterised by periods of higher volatility which impacted performance across asset classes and investment styles. Against this backdrop
The LF Woodford Equity Income Fund (WEIF) has sold some of the portfolio’s individual unquoted stocks to Woodford Patient Capital Trust (WPCT) in exchange for shares in WPCT. This step signals the start of a strategy to switch the fund’s unquoted exposure from individual unquoted holdings to shares in WPCT.
WEIF acquired the new WPCT shares primarily for a “non-cash consideration” by transferring five unquoted holdings to the value of GBP72.9 million to WPCT and subscribing for the remaining GBP6 million in cash. This acquisition of assets by WPCT allows it to increase its position in companies that the Board
Gregory Property Group has secured forward funding and started on site to deliver a prominent, new 407-bed student residential scheme on the edge of Leeds city centre.
Planning consent was granted in November last year for the GBP30 million plus scheme located on a prominent site on Bingley Street. Until recently, the site was occupied for more than three decades by Maxi’s restaurant; the first purpose-built Chinese restaurant in the UK.
Gregory Property Group has secured forward funding from Curlew Alternative Asset Management (Curlew) and subsequently appointed Leeds based GMI Construction Group with a GBP21.5million contract to build ‘The
The UK’s Financial Conduct Authority (FCA) is urging financial services firms to ensure they are making any necessary changes to protect customers from negative impacts of leaving the EU, whatever the outcome of negotiations, including a no-deal Brexit.
Firms are also being reminded to consider what information needs to be communicated to their customers, and how this will be done in a way that is clear, fair and not misleading.
As well as publishing updated general information for all firms, the FCA has releases specific guidance for wholesale banks, markets and asset managers. UK firms doing business in
IHS Markit, a specialist in critical information, analytics and solutions, has added new functionality to its Securities Finance platform, a source of data and intelligence on global securities financing transactions.
The enhancements deliver public disclosure coverage for the Japanese market, a global data feed on corporate bond lending activity, an updated model for forecasting short interest in the US and multi-asset performance measurement tools.
“Across the securities financing ecosystem, the pace of innovation is accelerating and in step with market developments, we are providing our customers with enhanced data and analytics to help them manage their businesses with greater
Estera, a provider of funds, corporate and trusts services, has selected eFront as its partner for its multi-million pound investment in a fund administration platform to support the ongoing growth of its global private equity fund administration business, which now represents about a third of global revenues.
Estera has a market-leading European funds capability, offering administration and fiduciary services both onshore and offshore. The consolidation of its current administration platforms into eFront, the world’s leading alternative investment management software and solutions provider, is the next step in Estera’s rapid expansion into the European funds market, which is anchored by a
A corporate team from Carey Olsen Bermuda has advised Apex Group (Apex) on its purchase of Beacon Fund Services (Bermuda) Ltd, Beacon Corporate Services (Bermuda) Ltd and Beacon Management Limited (Beacon).
The acquisition of Beacon, a well-established Bermuda-based fund administrator, adds further weight to Apex’s hedge fund administration, corporate services and transfer agency solutions, while also adding USD10 billion in assets under administration to the Apex portfolio. Headquartered in Bermuda, Beacon was established in 1995 and delivers sophisticated service offerings to both offshore and domestic hedge funds and other international entities.
The Carey Olsen Bermuda team comprised partner Mary Ward
With some much welcomed market volatility in Q4 2018, 2019 could well shape up to be a year for the active trader and give hedge funds a chance to reinforce their value proposition to investors.
With some much welcomed market volatility in Q4 2018, 2019 could well shape up to be a year for the active trader and give hedge funds a chance to reinforce their value proposition to investors. To get a steer on how managers are thinking about the markets – where are the risks and the opportunities – and how the macro backdrop is shaping the way they generate trading ideas, we thought it beneficial at Hedgeweek to put together a Hedge Funds 2019 Outlook Report, featuring a plethora of views and opinions from some of the leading managers in the industry.
Pangea Blockchain Fund has held the close of its seed round and debuted its inaugural International fund focussed on transformative blockchain solutions.
The firm secured USD22 million and expects fundraising to be capped at USD200 million. Pangea Blockchain Fund’s Swiss-based investment adviser, Blockchain Investment Advisory Sagl, is led by a team of established asset management and blockchain industry veterans including founders James Duplessie and William Duplessie. The US-based sub-adviser, Blockchain Investment Advisory LLC, is managed by Jason Bonayer, Stephen Duplessie, Philip Plough and Jeffrey Engel. Together, the teams will position Pangea Blockchain Fund at the forefront of tech discoveries
