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Aditya Birla Capital Limited (ABCL) and Värde Partners (Värde), have formed a strategic partnership to pursue investments in stressed and distressed assets in India.
Operating through a joint platform, both parties will evaluate investments across sectors, focusing on the acquisition, restructuring and resolution of the substantial supply of non-performing assets in India as well as special situations financings. Given the current landscape and further prospects in asset reconstruction in India, ABCL and Värde believe there is an attractive pipeline for strong capital deployment opportunities over the next several years.
Ajay Srinivasan, Chief Executive of ABCL, says: “The ARC business
The State Street Global Global Investor Confidence Index decreased to 94.3 in August, down 7.4 points from July’s revised reading of 101.7.
Confidence among North American investors declined, with the North American ICI decreasing from 103.1 to 92.5. Meanwhile, the European ICI rose by 8.1 points to 99.5 and the Asia ICI decreased by 0.9 points to 102.6.
The Investor Confidence Index was developed by Kenneth Froot (pictured), and Paul O’Connell at State Street Associates, State Street Global Exchange’s research and advisory services business. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling
Agilis Investment Management, an independent multi-asset fund manager, has appointed Chris Welsh as Partner, responsible for strategic business development and distribution.
Welsh (pictured), joins Agilis from the Mako Group, a derivatives trading firm, where he was CEO for 10 years before becoming Non-Executive Chairman. At Mako, he was responsible for developing Mako’s core trading business, growing an asset management group and leading several corporate transactions. Welsh has more than 25 years’ of financial-services experience and began his career at Morgan Stanley before joining Credit Suisse.
Clark Fenton, Managing Partner & CIO, Agilis, says: “Following a successful first year we
CloudQuant has announced a new crowdsourced trading strategy license agreement. This marks the eighth successful partnership with a global algo developer since CloudQuant’s public launch one year ago.
Researchers receive 10 per cent of net trading profits under the terms of the license agreement.
“A crowd researcher can take home USD100,000 per year if his or her licensed trading strategy has a 10 per cent return on investment and is trading a USD10 million or more risk allocation. This type of payout is possible for a college student, data scientist or market enthusiast,” says Tayloe Draughon (pictured), senior product manager.
Neuberger Berman has launched a UCITS strategy tapping into the key enablers and beneficiaries of the long-term evolution of next generation mobility.
The Neuberger Berman Next Generation Mobility Fund aims to exploit investment opportunities created by the ongoing disruption of the USD4.2 trillion global transportation industry.
Originating from Neuberger Berman’s established global research platform, the Fund’s three managers, Saurin Shah, Yan Taw Boon and Michael Barr will be managing a portfolio of 40-60 handpicked stocks, seeking to gain exposure to companies providing solutions to the proliferation of autonomous, electric and connected vehicles, as well as firms well-positioned to benefit
Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc (DBSI) (collectively, DB), are to pay a USD30 million civil monetary penalty to settle CFTC charges relating to manipulation, attempted manipulation and spoofing of the precious metals futures markets.
A CFTC Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilising a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by
The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) has issued conditional, time-limited no-action relief to a banking entity for not counting certain loan-related swaps towards its swap dealer de minimis threshold (under paragraph (4) of the “swap dealer” definition in Regulation 1.3).
The no-action relief provides that DSIO will not recommend that the CFTC take an enforcement action against the banking entity (including any of its insured depository institution subsidiaries, together with their affiliates) for not counting towards its de minimis threshold certain swaps entered into from the date of the no-action relief through
According to a recent risk alert issued by the SEC, investment advisers continue to show deficiencies when it comes to best execution of client securities transactions.
The alert, issued by the Office of Compliance Inspections and Examinations of the SEC, highlighted six areas where advisers typically came up short, including not performing best execution reviews, not seeking comparisons from other broker-dealers, and not fully disclosing best execution practices and soft dollar arrangements.
Jamie Nash (pictured), a lawyer with Kleinberg Kaplan, notes that advisers have a fiduciary duty to seek best execution of client securities transactions, taking into consideration
Kingdom Trust, a regulated financial institution offering qualified custody for digital asset investments like Bitcoin and Ethereum, has secured insurance for assets held on its qualified custody platform through Lloyd’s of London.
“Qualified custody by a regulated, insured financial institution is a top priority and critical hurdle for institutions to invest in the digital asset markets,” says Matt Jennings, CEO of Kingdom Trust. “By adding another trusted specialist like Lloyd’s to our platform, we’re ensuring that current and future clients will have access to a highly-secure, complete safekeeping solution tailored to meet the challenges of institutional finance.”
The company
SmartStream Technologies has added Quality Assurance (QA) testing as a service for its TLM Collateral Management solution. The new service enables collateral administration desks to stay current with changes in the market and regulations, whilst providing the best service to clients.
Many banks have stringent internal testing requirements for new functionality to ensure continuity, connectivity and integration. To reduce the amount of time and expertise devoted to this rigorous testing regime, whilst optimising the effort, cost and outcome, SmartStream is partnering with banks to provide QA testing as a service, delivered by its TLM Collateral Management platform.
SmartStream will
