Latest News
LCH has extended its CDSClear platform to include the clearing of credit index options. This addition to LCH’s credit derivatives clearing service follows the launch of CDX high-yield clearing in July 2017.
LCH is the first CCP to design, develop and implement a risk framework for the clearing of credit index options. The model has been approved by European and French regulators, under the EMIR framework, as well as US regulators (CFTC and SEC). MarkitSERV, the post-trade service from IHS Markit, will process cleared credit index options for both dealer-to-dealer and dealer-to-client flows.
Frank Soussan (pictured), Global Head of
Singapore-based OC Horizon FinTech has concluded its first month of activity in blockchain related asset investment, having achieved a 24 per cent return in November.
The firm says the fund is invested in a mixture of blockchain-related equities and digital assets, including both high market cap cryptocurrencies and strategically selected alt-coins.
OC Horizon says that its hedge fund has an initial target of raising USD150 million and is the first of its kind to place cryptocurrency assets within the reach of institutional investors.
The firm writes that until now, institutional investors have avoided investing in volatile cryptocurrencies – but consistent
Alternative assets platform CoInvestor has made three senior hires to its client team to bolster the rapid adoption of its software as a service for financial advisers and fund managers.
The company has appointed Darren Fletcher formerly at Intelliflo, a supplier of financial adviser software; Ella-Louise Houghton from Thomson Reuters, and Declan Blackwood from Coutts, the private bank. The expertise they bring from financial services and technology will further enhance CoInvestor’s ability to provide innovative solutions to meet the challenges advisers and investors face.
Launched at the end of 2015, CoInvestor is transforming the management of alternative assets by
Gresham House, the specialist alternative asset manager, has appointed Simon Stilwell as a Non-Executive Director effective 18 December 2017.
With over 20 years’ experience in the City, Stilwell was, until 2015, Chief Executive of Liberum, the investment bank that he co-founded in 2007. Prior to Liberum, Simon was Head of Sales for Small Companies at Collins Stewart plc and was also a Director at Beeson Gregory Limited. Stilwell is currently CEO of Vitesse Media Plc, an AIM listed digital media and events business.
Stilwell replaces Peter Moon who is stepping down from his position on the Board of Gresham
Asian hedge fund platform OP Investment Management Ltd (OPIM), in partnership with Watercourse Advisors, is to launch the Watercourse Macro Fund SP of Sunrise SPC, a Cayman-domiciled hedge fund for professional investors only.
The absolute return fund will deploy a global, directional macro strategy.
Founded by Wei Liao (pictured), Watercourse will continue the same strategy she ran whilst previously managing BIA Pacific Macro Fund. The portfolio will focus on anticipating and identifying tactical trading opportunities as well as strategic investment themes in Asia-Pacific, US, and Europe, by taking long and short positions in highly liquid, transparent, easy-to-price instruments across
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for November 2017 measured -0.40 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 0.18 per cent in December.
“SS&C GlobeOp’s Capital Movement Index showed a net outflow for December 2017 of -0.18 per cent,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “On a year-over-year basis, this compares to net inflows for December 2016 of 0.21. December net flows have been close to zero in recent years, so this result was within the range of expectations for the month. For the full year 2017, capital
Hedge funds edged higher last week as CTAs and Global Macro strategies outperformed and the remaining hedge fund strategies were flat, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
CTAs were fuelled by their long equity and energy positions while Global Macro funds benefitted from the stronger USD.
On a negative note, Market Neutral L/S and Special Situations ended the week in the red. On a year to date basis, Event-Driven funds remain the top performers, followed by L/S Equity funds.
Overall, 2017 was a good year for hedge funds which are on track
Driven by SEC modernisation and continually changing regulatory requirements, Confluence is predicting a year of anxiety in 2018, but eventual positive systemic change, as firms work to achieve efficiency while meeting a broad range of back office demands.
Confluence predicts three major impacts across the asset management industry next year: RegTech will make way for a “DataTech” movement in business operations across the back-office ecosystem; the data-intensive focus of the Securities and Exchange Commission (SEC) will spur industry adoption of data analytics in fund compliance and governance; and regulatory anxiety will prevail as the future of new regulations remains unresolved
By Gary Janaway (pictured), Chief Operating Officer, KNEIP – With MiFID II around the corner, now is a good time for asset managers to re-think their approach to distribution.
When MiFID II goes live on 3 January, it will be the first time regulation requires people to be more vigilant about where their funds are being sold, and who they are being sold to.
Traditionally, it would have been more of a paper exercise based on the content of legal contracts between asset management companies and their third party distribution partners.
Asset managers typically signed distribution agreements with a third
By Nick Bayley (pictured), Duff & Phelps – Fed up with MiFID II yet? We are in the home straight and 3 January is just over the hill. But rather than relief that the finishing line is in sight, many of people I speak to are just a bit fed up with the whole thing.
Of course, some firms aren’t ready and they will be on borrowed time in 2018 until they sort themselves out.
But those firms who have got their preparation done are beginning to ask ‘Is this all going to work? Is it worth all the
