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The relationship that broker-dealers and registered investment advisors have with pension investors is set to be turned on its head on 10 April 2017 when the Department of Labor introduces the DOL Fiduciary Rule.
In short, what this means is that brokers and advisors will have to demonstrate that they are acting in their clients’ best interests at all times. This may sound surprising to some but as CNBC highlighted in a recent article, the White House Council of Economic Advisers estimates that conflicts of interest by investment advisors leads to USD17 billion in lost income every year for most
Five out of six of MV Index Solutions’ (MVIS) investable long/short equity indices recorded a positive performance in December.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The MVIS North America Long/Short Equity Index led the way with a return of 1.45 per cent.
This was followed by the MVIS Asia (Developed) Long/Short Equity Index (1.34 per cent), the MVIS Western Europe Long/Short Equity Index (0.54 per cent, the MVIS Emerging Markets Long/Short Equity Index (0.49 per cent); and the MVIS
Peter Brown has been appointed head of funds at RBS International to drive the expansion of the bank’s offering to the alternative funds sector.
Brown (pictured) has more than 25 years’ experience in corporate and institutional banking, and most recently headed up the RBS Financial Institutions Group in the UK, which included the RBS funds banking business in London.
Prior to that, he was one of the founding members of the RBS mid-market leveraged finance business, delivering multi-million-pound buyout transactions alongside key private equity sponsors.
Brown now leads a funds banking team that supports more than 1,000 fund
Dash Financial is to merge with LiquidPoint to create a new trading technology solutions provider focused on the options and equities markets.
Dash Financial is an institutional trading technology, execution and analytics provider, while LiquidPoint is a provider of options technology and routing services to the sell-side and exchange communities.
Private equity firm GTCR will be contributing LiquidPoint from portfolio company Convergex to merge it with Dash.
The combined entity will operate as Dash Financial Technologies and be majority owned by GTCR. It will have a 13 per cent market share in the US options agency execution space. The independent
The pace of technological change is unrelenting. The Internet of Things and the rise of the gig economy are changing the way that businesses and consumers interact with each other. It is therefore incumbent upon the asset management industry to embrace technological change and reimagine what is a tried and tested business model. More than ever, fund managers are having to innovate to operate more efficiently, more transparently, and in closer harmony with their end investors.
As this report will show, there are five disruptive technological trends (as defined by five key companies) today that have, over recent years, prompted global
Timothy G Massad has tendered his resignation as chairman of the US Commodity Futures Trading Commission (CFTC) to President Obama, effective 20 January 2017.
Massad (pictured) issued the following statement:
“For the past two and a half years, I’ve had the privilege of working alongside the very talented CFTC staff, and I thank them for their dedication on behalf of the American people. I also want to express my appreciation to my fellow commissioners, Sharon Bowen and Chris Giancarlo, for the constructive and collaborative engagement we have had throughout my tenure. I am also very grateful to President Obama
Marble Point Credit Management has acquired American Capital CLO Management (ACCLOM), an investment manager with approximately USD3.4 billion in assets under management across eight collateralised loan obligation (CLO) vehicles as of December 2016.
The acquisition is expected to provide meaningful benefits to Marble Point and accelerates its business plans and objectives. The transaction will also diversify and significantly expand Marble Point’s investor base.
“The acquisition of the ACCLOM platform represents a significant milestone in Marble Point’s development,” says Thomas Shandell (pictured), chief executive officer of Marble Point. “We believe investors globally will seek to increase their exposure to the
Law firm Akin Gump has elected 10 new partners, effective 1 January 2017.
The 10 individuals and their respective office locations are Gerald Brant (New York), Olivia Chung (New York), Olivier De Moor (New York), Sophie Donnithorne-Tait (London), Mahmoud (Mac) Baki Fadlallah (Dubai/Washington, DC), Jaisohn Jungbin Im (New York), Allison P Miller (New York), Daniel L. Moffett (San Antonio), Alexander Specht (New York) and Annisah Iman Um’rani (Washington, DC)
“The lawyers promoted to partner this year are a very talented and diverse group of individuals,” says Akin Gump chairperson Kim Koopersmith (pictured). “I know they will continue to work tirelessly
Fried, Frank, Harris, Shriver & Jacobson has named Jeremy Berry as a partner in the firm’s asset management practice.
Berry (pictured) will be based in New York.
Berry has experience in advising large private equity and hedge fund managers on matters involving private investment funds and complex corporate transactions, with a focus on private equity and hedge fund formation and other alternative investment matters.
"Jeremy brings a wealth of experience representing some of the most prominent private equity and hedge fund sponsors and investment banks, as well as a broad range of other investment management clients," says David Greenwald, chairman of
Apex Fund Services has appointed Daniel Strachman as head of US business development.
Strachman (pictured) brings more than 20 years of financial services experience having held positions at Cantor Fitzgerald and Morgan Stanley.
He led A&C Advisors for 16 years delivering strategic guidance, counsel and support to investment management companies and institutional investors.
Strachman is the author of nine investment strategy books including “The Fundamentals of Hedge Fund Management and Getting Started in Hedge Funds”. In his new role at Apex he will drive US growth initiatives and deliver fund management clients with proactive fund administration solutions.
