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Mark Hawtin, Investment Director, GAM, on the challenges facing Apple…
The numbers reported by Apple last night showed that Apple is struggling to grow in a smartphone market that is becoming saturated at the high end. The move to the iPhone 6 and the large screen format gave them a final boost into a segment of the market they were not present in. What next? China is a real concern for Apple because it is clear now that the iPhone is not seen as a utility product but as a luxury item. Luxury brands are struggling in the slow-down; more utility names are
Credit Suisse to open Front Office trading floor in Ireland for Prime Services business
Irish Taoiseach Enda Kenny has opened the first Credit Suisse Trading Floor in Dublin, making the country an important hub for the bank’s Prime Services Business in Europe.
The opening of the new floor will house circa 100 positions in Dublin, including 40 trading, risk and capital professionals and 60 support roles.
The key parts of the Prime Services business that will operate out of this location include Prime Brokerage, Prime Financing and Securities Lending, all of which serve clients across global markets. The Dublin
The implementation of MiFID II and EMiR will dramatically increase the use of e-trading of European interest-rate derivatives, but it will also lead to an increase in concentration of trading flows with the market’s biggest dealers, according to a new report from Greenwich Associates.
The new Greenwich Report, The European Derivatives Market Continues to Resist Electronic Trading, shows that only about 20 per cent of notional trading volume in European interest-rate derivatives was executed electronically last year, and that fewer than 40 per cent of European institutions use e-trading tools for interest-rate derivatives at all.
Despite the cost benefits
Deimos Asset Management, a multi-strategy hedge fund manager, has appointed Richard Franzen (pictured) as a Managing Director and Portfolio Manager. At Deimos, Franzen will focus on managing a pairs-based trading strategy.
Prior to Deimos, Franzen managed portfolios based on the same strategy at REF Advisors and at Battenkill Capital Management Inc. since 2007. Previous to that he was employed as an analyst and portfolio manager at Merrill Lynch Investment Managers from 1996 to 2005 and as an analyst at Millennium Management LLC in 2006.
Franzen is the fifth portfolio manager to join Deimos since last July, following the additions
Agecroft Partners is to donate all the profits from its new conference Gaining the Edge – 2016 Hedge Fund Marketing Leadership Summit taking place on 28 April at the Roosevelt Hotel in New York City to children’s charities Hedge Fund Cares and the World Pediatric Project.
“We are happy to support these wonderful charities both financially and to enhance their awareness throughout the hedge fund industry,” says Don Steinbrugge (pictured), Managing Partner of Agecroft Partners.
The focus of the conference is “How to Enhance the Asset Raising Capability of Your Hedge Fund Organisation” and will feature many of the
Alternative assets fund managers hold a record USD7.4 trillion in combined assets under management (AUM) in 2015, up from USD6.9 trillion a year before, according to Preqin’s 2016 Global Alternatives Reports.
The private capital industry in particular has grown over the past year, as almost every constituent asset class saw its AUM increase. The industry as a whole added USD193 billion in AUM through H1 2015, more than the USD149 billion growth seen in the whole of 2014. The aggregate value of the portfolios of assets held by private capital fund managers is continuing to rise as GPs put more
Euronext is to launch a new Sugar commodities futures contract in the autumn of 2016 allowing the industry to hedge its positions against price fluctuations and anticipate future price movements, just as the Sugar quotas expire in the European market.
The European Union is the third largest sugar producer and the second largest consumer in the world. Following a profound modification in its common organisation of the markets in agricultural products, the EU will abolish sugar production quotas on 30 September 2017. This major reform follows those covering the oilseeds, grains and dairy sectors in the EU over the last
Institutional investors worldwide say it is challenging to find diversification among traditional asset classes, with more than half (54 per cent) saying stocks and bonds are too highly correlated to provide distinctive sources of return.
That’s according to a recent survey by Natixis Global Asset Management, which also finds evidence that alternative assets are taking on new prominence within institutional portfolios to help generate better risk-adjusted returns – the top priority of institutional investors in 2016.
“In the current market, traditional asset allocation has become a zero-sum game,” says John Hailer (pictured), chief executive officer of in the Americas
The Cayman Islands Government published The Limited Liability Companies Bill, 2015 on 18 December 2015 which, when enacted, will provide for the introduction of a new Cayman legal vehicle, the Cayman Limited Liability Company (LLC). The draft legislation closely aligns the Cayman LLC to the United States' Delaware LLC model which will mean that the new structure will be instantly recognisable to the US market. This is a significant development for Cayman.
"The introduction of the Cayman LLC will be an important step for Cayman and will represent an entirely new corporate form for managers and investors to use in
Susan Lock (pictured) is a partner in the investment funds team at Campbells, a leading Cayman Islands law firm which has been established for over 45 years, advising on both Cayman Islands and British Virgin Islands law.
She observes that the launch environment for new funds and emerging managers has become "manifestly harder, more competitive, costly and more time consuming". Fund launch costs are rising, primarily because of the increased need to meet regulatory and compliance reporting and investor scrutiny.
"Investment managers now have to not only show a compelling investment strategy and a proven track record but they also
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