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Global assets under management (AUM) linked to firms that have become signatories to the Principles for Responsible Investment (PRI) rose 195 per cent to USD62 trillion in April 2016 from USD21 trillion in 2010.
Investor expectations and regulations are driving demand for sustainable investing, says Moody’s Investors Service.
“Integrating ESG criteria into investment decisions should limit risks within portfolios and contribute to lower volatility and better performance in the long run. The effectiveness of these strategies however will have to manifest through the cycle, as well as across teams and strategies,” says Marina Cremonese, a vice president at Moody’s.
Latitude Investment Management (Latitude), an investment management firm recently founded by Freddie Lait (pictured), has launched it first fund, The Latitude Horizon Fund, which will spin out of Odey Asset Management in early November.
The Latitude Horizon Fund (UCITS V) is a global long only Diversified Growth Fund targeting absolute returns, with lower volatility and lower fees.
The Latitude Horizon Fund will invest in a concentrated portfolio of stocks which have high-quality business characteristics and strong, or improving, industry dynamics. Alongside this, non-equity investments will be made to generate uncorrelated returns, reducing risk without compromising performance. The relative allocation
Abacus Group, a provider of hosted cloud IT solutions for alternative asset funds, has reported year-on-year growth of over 30 per cent up to the end of the third quarter of 2016.
The company’s employee count also exceeded 100 as it expanded its footprint in the Boston, Los Angeles and San Francisco markets.
“Year-over-year, Abacus has added 40 new clients, including firms in the United Kingdom and Sweden,” says CEO Chris Grandi (pictured), who founded Abacus in 2008. “We have also tripled our data centre capacity to meet the increasing demand for our services.”
Grandi adds that Abacus’s
RiverNorth Capital Management has launched the RiverNorth/DoubleLine Strategic Opportunity Fund, a closed-end fund that opportunistically invests in fixed income securities and tactically invests in closed-end funds.
The fund debuted on 28 September on the NYSE under the symbol OPP.
RiverNorth serves as the fund’s investment adviser and DoubleLine Capital serves as sub-adviser to the fund.
“We are extremely excited to again partner with DoubleLine to add another unique multi-manager strategy to RiverNorth’s existing portfolio of closed-end fund offerings,” says Patrick Galley (pictured), RiverNorth’s chief investment officer. “The fund will leverage RiverNorth’s and DoubleLine’s long performance track records across
UK-based independent AIFMD depositary INDOS Financial has recorded a 160 per cent increase in assets under depositary from September 2015 to end-September 2016 of USD8 billion to a total of USD13 billion. In the same period, client relationships have grown 70 per cent to 45.
INDOS CEO Bill Prew believes that the growth has come as a result of an increasing recognition by investment managers and investors of the value offered by an independent depositary.
“The value of the depositary beyond meeting regulatory compliance obligations should not be discounted,” says Prew. “Many managers initially viewed the appointment of a depositary as a
SIX Financial Information, a provider of reference data, market data and added value services, has partnered with Infront, a trading and information solution provider in the Nordics.
The JV will service clients in Sweden, Denmark, Finland and Norway.
The partnership combines Infront’s financial terminal technology with the global reference and market data of SIX.
Users of SIX Edge and Starweb will be migrated to the Infront terminal powered by the extensive database of SIX. The partnership extends to Infront clients who will receive SIX data going forward.
The news agency SIX News will merge with Nyhetsbyrån Direkt
Intercontinental Exchange’s (ICE) ICE Data Services has expanded coverage for its best execution service to include sovereign and corporate bonds in Europe, the Middle East and Africa (EMEA).
Best execution leverages ICE’s fixed income Continuous Evaluated Pricing to measure best execution, and offers a trade-by-trade measure of execution quality relative to comparable market transactions.
The launch of best execution in EMEA comes as European regulators are moving to expand transparency in fixed income securities. In particular, the Markets in Financial Instruments Directive II (MiFID II) formalised rules that require investment firms to maintain records quantifying the transaction quality of
Alternative asset manager FS Investments has hired Steve DeAngelis as executive vice president and head of distribution.
DeAngelis will serve on the firm’s executive committee and as president of FS Investment Solutions, FS Investments’ wholly owned broker-dealer subsidiary.
DeAngelis joins the firm as it is expanding distribution into new channels, preparing to launch new investment strategies, and ramping up its advisor and investor education platform.
“Steve DeAngelis has had a long and impressive career in financial services, both as a sales leader and business builder,” says Michael C Forman, chairman and CEO of FS Investments. “We believe we
Tim Thornton, COO, Fund Services, MUFG Investor Services, comments on the rising capital requirements for fund managers…
Following the ‘too big to fail’ challenges of global banks, it is not surprising to see regulators turning their attention to large fund managers. While there is no solid evidence that they pose a systematic risk or contributed to the banking crisis; the increasing consolidation of the industry into fewer, larger managers does concentrate risk.
Recent examples of asset management companies being asked to increase capital requirements demonstrate that regulators are concerned about the dangers posed by the liquidity crisis and the
Affiliated Managers Group (AMG) has bought interests in Winton Group and Partner Fund Management (PFM).
Founded in 1997, Winton is a global investment manager that uses scientific methods to develop investment systems across a broad range of products from diversified multi-asset offerings to regional long-only equities.
The firm is headquartered in London and has over 400 employees, with additional offices in Oxford, Zurich, Hong Kong, Shanghai, New York, Tokyo, Sydney, and San Francisco.
PFM manages global equity strategies, including global diversified long/short, global long, and global healthcare funds. PFM was founded in 2004 and is based in San Francisco.
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