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Japan attracted significant international interest following the launch of Abenomics – how should global hedge fund managers assess Japan, and the rest of Asia, as a long-term source of capital?
The first two pillars of Abenomics, fiscal stimulus and monetary easing, gave a significant boost to the Japanese economy. The effect of the “third arrow” – structural reforms to stimulate growth – will be more gradual. However, since Abe’s re-election, there have been signs that Japan is embracing change and that it will impact all areas of the economy.
For example, the Government Pension Investment Fund of Japan (GPIF), the
- 21/01/2015
- 21/01/2015
Today’s evolving regulatory landscape is playing to the strengths of ABN AMRO Clearing, certainly with respect to EMIR and AIFMD. Over the last 35 years, ABN AMRO Clearing has built a nexus to global market infrastructures to provide execution services and post-trading facilities across most markets and products.
“We saw EMIR as an opportunity to expand our capacity. We are one of the largest clearers in the world and we’ve used this capacity to extend our clearing expertise into OTC derivatives such as IRS. It’s an opportunity for us to step in, demonstrate that we are a leading clearer, and
- 21/01/2015
Celebrating its 150th year anniversary in 2014, Societe Generale took the decision in May 2014 to buy out Credit Agricole’s 50 per cent stake in Newedge, a leading provider of clearing and execution services in OTC and listed derivatives. This gave Societe Generale full ownership of the agency broker.
“We have bolted on some significant businesses to become a fully functional global prime services business,” says James Shekerdemian (pictured), Global Head of Prime Brokerage Sales at Societe Generale Prime Services, formerly Newedge. “Alongside our clearing and custody, execution and financing platform of old, we now have the strength of Societe
- 21/01/2015
- 21/01/2015
By James Williams (pictured) – A wise man adapts himself to circumstances as water shapes itself to the vessel that contains it. (Chinese Proverb)
It’s a well-known fact that adversity breeds innovation. As tough as it has become to do business in today’s financial markets, there are always opportunities to evolve, to re-assess one’s priorities, to build strength through consolidation.
One particular segment of the industry in which this is being borne out is prime brokerage. Primes of all shapes and sizes face a new reality today: the need to become both operational and balance sheet-efficient, and to broaden out
- 21/01/2015
Man Group has completed the previously announced acquisition of Silvermine Capital Management, a Connecticut-based leveraged loan manager.
Silvermine had USD3.8 billion of funds under management across nine active collateralised loan obligation (CLO) structures as of 30 November 2014.
Mark Jones, co-CEO of Man GLG, says: “Silvermine enhances Man GLG’s existing credit business and provides increased expertise in the robust US credit markets, while benefitting from Man Group’s access to capital, global distribution platform and highly sophisticated infrastructure and framework. This transaction also strengthens Man Group’s commitment to expanding its US presence and complements an M&A strategy focused on identifying
- 21/01/2015
Hedge funds lost 0.18% in December, according to the Barclay Hedge Fund Index compiled by BarclayHedge The Index was up 3.16% in 2014.
“Renewed concerns of a Greek exit from the European Union, plummeting oil prices, and swooning Russian financial markets took a toll on global equity and commodity markets as risk assets staged a broad decline,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 8 of Barclay’s 18 hedge fund indices had losses in December. The Emerging Markets Index fell 2.34% in December, Distressed Securities were down 0.70%, Equity Short Bias lost 0.43%, and the Event Driven Index
- 21/01/2015
Deutsche Börse Group announced today that it has received ‘in-principle’ regulatory clearance from the Monetary Authority of Singapore (MAS) to set up Eurex Clearing Asia, a clearing house based in Singapore.
The new clearing house of Deutsche Börse Group is an integral part of its new trading and clearing offering for investors during Asian trading hours and is expected to commence operations in 2016. Initially, Eurex Clearing Asia will clear selected European benchmark derivatives listed at Eurex Exchange which are traded during Asian market hours. The range of products cleared will subsequently be extended to include listed derivatives based on
- 21/01/2015
Stonegate Global Fund Services has tapped attorneys Hays Ellisen and Michael Blackburn to lead its business expansion efforts in hedge fund formation and fund administration in New York.
"Stonegate's rapid growth is evidence that fund managers prefer to have fund formation, regulatory and compliance, fund administration, and prime brokerage services delivered through one organization, with a reasonable cost structure, rapid turn-around time, and excellent customer service," stated Ellisen. "I am excited to join the Stonegate team as we expand our New York presence and continue delivering value-added, comprehensive solutions to our clients."
Ellisen will serve as Senior Fund Counsel supporting
- 20/01/2015
- 20/01/2015
Unigestion has launched Uni-Global Cross Asset Navigator, a daily-liquidity, UCITS IV-compliant fund that allocates based on an assessment of the risks associated with the prevailing macroeconomic backdrop.
Targeting a return of three-month Libor + 4% per year over a full economic cycle with half the long-term risk of the stock markets, Uni-Global Cross Asset Navigator combines a risk-based approach to investment with in-depth macroeconomic analysis, enabling it to provide attractive return potential in most market environments. The fund starts off with a risk-diversified allocation to a large set of traditional (global developed and emerging equities, sovereign bonds, credit and commodities)
- 20/01/2015
HedgeCoVest continues to attract some of the largest managers in the industry to its real time hedge fund replication platform, with USD21bn fund manager Fred Alger Management the newest firm to join the roster.
HedgeCoVest’s revolutionary allocation tool, the Replicazor, mirrors the portfolio and trading strategies of hedge funds directly into an investor’s brokerage account. Part of HedgeCo Networks, the Florida based firm offers investors the chance to allocate to portfolios from a wide range of hedge fund products provided by managers.
“We are thrilled to announce the launch of the HedgeCoVest platform,” says Evan Rapoport, CEO/Founder of HedgeCoVest. “For
- 20/01/2015
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