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Japan is host to some of the largest pools of institutional investment assets in the world. It ought to be a magnet for asset managers of all kinds, and especially for the alternative investment managers that are garnering substantial shares of institutional assets in North America and Europe. Yet Japan has proved an exceptionally challenging market to penetrate, for reasons which range from the cultural to the structural.
However, says SumiTrust, there are now signs that Japan’s institutional investors are opening their portfolios to foreign and alternative assets. How should alternative managers approach this opportunity?
Japan is an
It all started so well. In February 2015, hedge funds posted their highest monthly gains (+2.13 per cent) for two years and there was an overall feeling of optimism in the air. As Preqin’s data reveals in its December Hedge Fund Spotlight, at the time 60 per cent of hedge fund managers felt that overall hedge fund performance in 2015 would exceed that of 2014.
Onwards into March, and further positive performance led to Q1 2015 being the best quarterly performance since Q4 2013, with the average hedge fund posting returns of +3.03 per cent.
And then, slowly but
Vineer Bhansali has formed LongTail Alpha, a new investment management advisory firm that will provide qualified investors with the opportunity to benefit from the experience of one of the most accomplished tail risk experts in the financial industry.
LongTail Alpha believes that sustained portfolio performance comes from expecting the unexpected, and positioning portfolios to earn yield while maintaining convexity. The firm will blend a solutions approach with additional value provided through applying decades of experience in active portfolio implementation of these techniques.
“I am eager to embark on this new stage in my career, and apply my professional and
The US Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad has signed a Memorandum of Understanding (MOU) with Hong Kong Securities and Futures Commission (SFC) Chief Executive Officer Ashley Alder regarding cooperation and the exchange of information in the supervision and oversight of regulated entities that operate on a cross-border basis in the United States and in Hong Kong.
Through the MOU, the CFTC and the SFC express their willingness to cooperate in the interest of fulfilling their respective regulatory mandates. The scope of the MOU includes markets and organised trading platforms, central counterparties, and intermediaries, dealers, and other market
The Grand Court of the Cayman Islands has ordered that redemption payments made to an investor of the failed Weavering Macro Fixed Income Fund prior to the commencement of its liquidation are to be repaid.
The Court ruled that the redemption payments constituted preferences and were therefore invalid. In doing so, the court has ordered that the redemption payments, which totalled over USD8.2m, be repaid to the fund.
The decision, handed down earlier today, represents the first successful attempt by liquidators of a Cayman Islands investment fund to recover redemption payments on the basis of preference, meaning that the
The Global Fund Media newsletter team is taking its customary year-end break, and will resume business as usual on Monday 4 January.
We will continue to update our websites with the most important industry news during the holiday period.
We wish all our readers the very best for the festive season, and we look forward to working with all of you in 2016.
Ernst & Young’s Global Information Security Survey 2015, entitled ‘Creating Trust in the Digital World’ provides a comprehensive insight into how organisations view their cyber defences.
The data presented reveals a number of inconsistencies that illustrate a lack of real awareness or understanding as businesses adapt to a new paradigm of increased cyber threats.
The survey canvassed the opinions of 1,755 respondents in 25 industry sectors spanning 67 different countries. Some 31 per cent of respondents were Chief Information Security Officers, 19 per cent were Information Security Officers, and 17 per cent were Chief Information Officers.
As the survey states,
The fixed income business is in a state of transition with existing electronic venues and a plethora of new platforms trying to get a foothold. But moving a traditionally relationship-driven and voice-executed market to a new forum is no easy task.
Issuance is soaring but liquidity is withering as banks withdraw due to Basel III’s stringent capital adequacy ratios. New platforms not only have to offer the right functionality to suit different products but also ensure robust pre and post trade systems are in place to meet impending regulations such as MiFID II, explains a new paper from Pershing Ltd.
Royce & Associates is reopening the Royce Premier and Special Equity Funds to new investors as of Monday, 4 January.
Chuck Royce and Charlie Dreifus, the funds' respective portfolio managers, say they are comfortable accepting additional asset flows at each fund's current asset base.
Royce and Dreifus, both large shareholders in these portfolios, believe reopening at this time is in the best interests of each portfolio's shareholders. Dreifus says: "I would like the fund to be available to those investors who want to participate in its opportunistic purchases considering both current valuations for equities and the uncertain global economy.
Neptune, the open standards network utility for pre-trade indications in bond markets, is continuing to expand its business to the wider community.
The network launched in August initially, with a limited set of buy-side and sell-side sponsors. Neptune has already seen strong growth in the amount of quality data flowing through the network enhancing pre-trade transparency for those market participants already signed up.
Neptune is now extending the fixed income pre-trade information network to the global financial community. With over USD16 billion of gross notional and nearly six thousand line items, referencing over four thousand ISIN’s across IG/HY/EM bonds, the
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