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Alternative investment manager FS Investments has launched its first open-end mutual fund, FS Multi-Strategy Alternatives Fund, which seeks to generate absolute returns with low correlation to traditional investments over a complete market cycle, and is distinct in that it combines hedge fund managers and alternative beta strategies.
“FS Investments always looks for differentiated ways to help investors access alternative sources of returns,” says Michael Forman (pictured), Chairman and Chief Executive Officer of FS Investments. “FS Multi-Strategy Alternatives Fund was created to provide exposure to an investment approach employed by some of the most successful institutional investors. We are excited to bring
Man Numeric, Man Group’s quantitative equity investment manager, has launched the Dublin-domiciled Man Numeric European Equity fund, its fifth UCITS-compliant vehicle for the European market.
The Man Numeric European Equity fund provides investors with access to Man Numeric’s European Core strategy, which launched in 2002. The investment strategy aims to outperform the MSCI Europe Index and provide consistent returns over time through quantitative, bottom-up stock-selection from a broad stock universe of about1,300 names, via a fundamental, systematically implemented, investment process.
Overseen by portfolio managers Greg Bunimovich, Ori Ben-Akiva and Mickael Nouvellon, the strategy utilises a combination of proprietary Valuation
With the implementation of AIFMD and UCITS V, the cost of launching EU funds has undoubtedly increased. Managers have to weigh up these costs versus the benefits of reaching a wider audience of European investors, compared to offshore funds. For those based in the UK, an added complication is Brexit.
For low-cost, business-friendly jurisdictions like the Netherlands, where English is nearly universally spoken, the UK’s decision to leave the EU could well work to its benefit, although only time will tell.
If a start-up manager does wish to set up a fully licensed AIF in the Netherlands, under the full
By Sven Bouman, Saemor Capital – Saemor Capital is a specialist systematic investment manager, based in The Hague. Saemor has won a number of awards including long-term performance over five years. Saemor is AIFMD-regulated manager, managing over USD500 million. The company was founded in 2008 with the backing of insurance company Aegon as a cornerstone investor. Aegon decided to optimise its equity portfolio by splitting the alpha from the beta, allowing Sven Bouman and his team to spin off to manage a long/short market-neutral fund investing in European equities.
Saemor has a team of 24, with a highly experienced investment
The Netherlands is ideally placed within Europe, being less than two hours away from the main financial centres such as London, Frankfurt and Paris. It is home to some of Europe’s largest pension plans, many of who are active allocators to alternative investment funds, and boasts a world-class business environment and workforce. Indeed, as PwC point out in a recent report*, the Netherlands was ranked number 7 in the world by Forbes’ `Best Countries for Business’ in 2016.
Moreover, the Netherlands operates an attractive tax regime and incentive programs. Corporate income tax stands at 20 per cent on earnings up
Starting up a fund is a battle, regardless of which jurisdiction the manager chooses. For those with a trading background embarking on their inaugural launch, one location that is perfectly predisposed yet sometimes overlooked is the Netherlands; a mere one hour from London City airport.
Having established the first stock exchange in 1611, (referred to as Beurs van Hendrick de Keyser), and created the first ever asset bubble, produced on the back of fervent speculation on the future value of tulips, Amsterdam has long been the epicentre of trading and innovation.
As a jurisdiction, it leads the way in trading
The Netherlands is home to Europe’s oldest stock exchange, the Amsterdam Stock Exchange, first established back in 1602. According to the latest IMF report, its financial system has assets nearly eight times GDP with the largest three banks accounting for 72 per cent of the sector’s assets. They are: ING Bank NV, Coöperatieve Rabobank UA, and ABN AMRO Bank NV.
The country is home to 16.8 million people, it has a stable political and economic climate and in terms of location, Amsterdam is less than one hour from London, Frankfurt and Paris.
According to the World Economic Forum, The Netherlands
BNY Mellon and HSBC are each partnering with Algomi, a bond market infrastructure provider, to expand corporate bond trading opportunities for their custody clients and the wider market.
The collaboration is expected to bolster fixed income market liquidity by giving clients the ability to make select holdings information available anonymously on the Algomi Honeycomb network of market participants.
The initiative will increase trading in the illiquid corporate bond market, which has seen turnover shrink while outstanding debt has risen by 75 per cent in the last decade. In a recent FCA study, a leading fixed-income trading house reported that
FIX Trading Community has published thefinal release of its Recommended Practices for Best Execution Reporting as required by MiFID II RTS 27 & 28.
The objective of this document is to provide guidance to entities regulated by MiFID II on how to populate the reports required under MiFID II RTS 27 and RTS 28 with the appropriate data in a compliant and consistent manner.
While the concept of Best Execution for the European Financial Markets was introduced back in 2007 under MiFID I, MiFID II has now introduced new requirements on what data must be published to the market to help firms
Metamako, a provider of FPGA-enabled high-performance networking platforms, and the Securities Technology Analysis Center (STAC), have established a new way to measure timing and time synchronisation.
The new STAC-TS benchmarks for measuring timestamp accuracy, designed by a working group of trading organisations, timing-related vendors, STAC, and Metamako, are set to be the industry standard. Not only is this an industry first, but the benchmarks are extremely significant in an industry with ever more stringent rules around the precise timing of actionable events. Being the first vendor to have a product measured with these benchmarks, which require laboratory-levels of time and
