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On 19 September 2018, the UK Parliament’s Treasury Select Committee published a unanimously-agreed report on crypto-assets for its Digital Currencies inquiry which likened the current cryptocurrency situation to the ‘Wild West’, something Long Finance is looking to help ‘tame’ with its Eternal Coin project.
The report concluded that “the UK Government and financial services regulators appear to be deciding whether they will allow the current ‘wild west’ situation to continue, or whether they are going to introduce regulation. The current ambiguity surrounding the Government’s and the regulators’ position is clearly not sustainable.”
UK Treasury Committee urges regulation for ‘Wild
Victory Capital is to acquire Harvest Volatility Management (Harvest), a specialist in derivative asset management with approximately USD12 billion in assets under management (AUM) as of 31 July 2018.
On the closing of the transaction Victory Capital will have approximately USD75 billion in firm-wide AUM, including approximately USD16 billion, or 21 per cent of total AUM, in its Solutions Platform strategies.
Harvest, which is based in New York City, was founded in 2008 by Chief Executive Officer and Portfolio Manager Richard L Selvala, Jr and Managing Partner and Chief Risk Officer Curtis F Brockelman, Jr. Harvest has established a
The SS&C GlobeOp Forward Redemption Indicator for September 2018 measured 3.35 per cent, up from 2.73 per cent in August.
“SS&C GlobeOp’s Forward Redemption Indicator was 3.35 per cent for September 2018, a strong result. On a year-over-year comparative basis, the Forward Redemption Indicator of 3.35 per cent reflects lower redemption notices than the 3.72 per cent reported for same period a year ago,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “This favourable level of redemptions continues a trend we have seen, year-over-year improvements in 17 of the past 21 months.”
The SS&C GlobeOp Forward Redemption
BNY Mellon Investment Management is to wind down EACM Advisors (EACM), its multi-manager and fund of hedge funds investment manager, as a standalone business.
EACM managed USD3.9 billion in a combination of long-only and fund of hedge funds strategies. EACM’s fund of hedge funds strategies (USD2.1 billion) will be closed to new investors and existing capital returned to investors in an orderly manner as investments are able to be redeemed. As part of this change, management recommended and the Dreyfus Fund Board approved the liquidation of Dreyfus Select Managers Long/Short mutual fund, for which EACM is the portfolio allocation manager.
While hedge funds’ performance and alpha were ‘honourable’ until the summer, analysis by Lyxor suggests that they erased about 2.5 per cent of alpha since June, with no turn in sight yet in September.
Lyxor writes: “L/S Equity funds were the primary culprits and victims. In the US, managers have steadily reduced their overall net exposure and leverage since Q2. As a result, they partially missed the summer rally. The plunge in Momentum also cost in June, only partially recovering afterwards. Stock selection in the heavyweight tech, healthcare and cons. discretionary sectors didn’t help enough. In Europe, funds adequately reduced
Total Assets under Management (AUM) in Europe increased by 10 per cent in 2017 to EUR25.2 trillion, according to the 10th edition of the European Fund and Asset Management Association (EFAMA) Asset Management Report.
In relation to GDP, the value of AUM is estimated to have reached 147 per cent at the end of 2017, up from 102 per cent in 2007.
Investment funds assets managed in Europe represented EUR13.1 trillion or 52 per cent of total AUM at end 2017, with discretionary mandates accounting for the remaining EUR12 trillion or 48 per cent. Asset managers typically receive mandates
By Tom Kehoe CAIA, Global Head of Research, AIMA – We are at a very interesting inflection point in our capital markets. Ten years following the last significant global liquidity crisis which fuelled the subsequent global financial crisis of 2008, commentators are starting to talk up the next one.
After a long post crisis period where ultra-loose monetary policy supported an unprecedented USD15 trillion of quantitative easing by central banks globally which boosted asset prices and profit margins, conditions in global markets today are considerably different.
For a start, central banks are normalising interest rate policies with several central bank
Crypto investment platform CoinBundle has added Katherine Hensel (pictured), as a special adviser on the company’s advisory board.
CoinBundle say Hensel’s considerable experience across finance, investing and entrepreneurship will be invaluable to the leadership team as it grows its business to provide wider access to cryptocurrencies.
An accomplished financial industry executive and institutional investor, Hensel has held leadership positions across the investment banking/brokerage and asset management industries for more than 35 years. Hensel is a subject matter expert in financial services and financial institutions. Previously, Hensel was a managing director in equity research, led the Financial Institutions Group and
Wavelength Capital Management’s (Wavelength) Wavelength Interest Rate Neutral Fund (WAVLX) has been named as the ‘Best Liquid Alternatives’ 40 Act’ Fund at the 2018 Hedgeweek USA Awards.
This marks the second year in a row that the fund has received such recognition, having last year won the award in the Hedgeweek Global Awards.
The awards celebrate the achievements of firms that contributed to another transformative year for the alternative asset management sector. Award winners were determined by the votes of Hedgeweek’s subscriber base, which includes institutional investors, wealth managers, fund managers, and other industry professionals. Established in 2003,
Singapore Exchange (SGX) is seeking public feedback on the proposed introduction of a new trading session for the securities market, the ‘trade at close’ (TAC), which will take place after the closing auction routine ends.
During the five-minute-long TAC trading session, participants will be able to execute orders only at the closing auction price set during the closing auction routine. The TAC session will apply to the ready and unit share markets.
“The introduction of the ‘trade at close’ session will allow investors to trade at a fixed price, namely the closing price of the security, while preserving the
