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Hedge fund manager Hatteras Funds is to repurchase itself from RCS Capital Corporation and re-establish itself as an employee-owned alternative investment boutique.
Acquired by RCS Capital on 30 June, 2014, Hatteras Funds has continued to operate as an independent reporting segment over the past 16 months. Repurchasing the firm allows Hatteras to focus on providing innovative alternative investment solutions across the liquidity spectrum.
“We are excited to reestablish Hatteras as a 100 per cent employee-owned firm. We will continue to focus on providing alternative investment solutions designed to help Financial Advisors build better, more diversified portfolios for their clients,”
RSRCHXchange has added OTAS Technologies (OTAS), a provider of market data analytics, to the list of providers on the firm’s institutional research platform.
Launched in September 2015, the RSRCHX platform was built in consultation with asset management institutions and research providers and designed to improve upon the cumbersome legacy practices of research distribution and procurement. The platform is designed to help asset managers buy research in a more efficient, discerning and transparent way, while staying ahead of the upcoming MiFID II unbundling requirements. At the same time, RSRCHX offers research providers a smarter, more advanced distribution tool which not only
UMB Fund Services (UMBFS) has hired Michael Yanke as head of fund administration and Mackenzie Johnson as legal counsel in Milwaukee.
Yanke is responsible for operations of UMBFS’ Milwaukee-based Fund Administration team, which services registered funds of all types. He will also establish and oversee fund administration compliance policies and procedures. He has nearly 30 years of experience in the fund industry.
“Michael brings an extensive knowledge of the industry to UMBFS,” says Terry Gallagher (pictured), executive vice president, director of fund accounting and administration. “Michael will assist in developing a strong team of fund administrators. We are excited
The hedge fund industry produced an aggregate return of 1.91 per cent in October, bringing YTD returns to near flat for 2015, but still negative at -0.80 per cent, according eVestment’s latest Hedge Fund Performance report.
The industry’s last annual decline was 2011 when average returns were -4.99 per cent and the S&P rose +2.11 per cent.
With median gross exposure increasing into the end of Q3, due to rising short exposure as long positions did not decline in-line, equity hedge funds participated in October’s market rally, however at a muted pace. Returns of 3.25 per cent from all
A month after being granted a licence to provide professional depositary services from its Luxembourg office, Elian has appointed Kerstin Lindgren (pictured) as manager of depositary services in the firm's funds depositary team.
Lindgren’s main focus will be to develop the depositary services offering for alternative investment funds in Luxembourg.
Lindgren has 15 years’ experience in the investment fund industry, particularly in depositary, global custody and stock lending services. She has previously held roles with Skandinaviska Enskilda Banken (SEB) in Stockholm and Luxembourg. Before joining Elian she was head of custody services at SEB SA, where she worked for more
Options, a provider of cloud-based IT services to hedge funds, private equity houses, investment banks, trading firms and broker-dealers, is to offer TraderServe’s exchange emulated test environment, AlgoGuard as a managed solution.
AlgoGuard is a solution for the testing of trading algorithms in line with the European Securities and Markets Authority's recent final submission on regulatory technical standards for the financial instrument directive, MiFID II. The MiFID II requirements, which become mandatory from 3 January 2017, necessitate that all trading firms certify that their algorithms have been tested to ensure that they do not create or contribute to disorderly trading
Stifel Financial Corp is to acquire Eaton Partners, an independent, partner-owned hedge fund and private equity fund placement and advisory firm.
Eaton's extensive relationships with private equity firms, hedge funds, high net worth family offices, and institutional investors is a growth opportunity for Stifel to leverage both its investment banking platform and its high net worth private client business, which will include the previously announced Barclays Wealth Americas business upon closing in the fourth quarter of 2015.
Eaton has over 60 employees across six offices and relationships with over 4,000 of the largest active institutional investors. Since Eaton's inception
New York-based alternative investment firm Angelo, Gordon & Co has appointed Jenny Morton (pictured) as a Managing Director, Head of Consultant Relations.
”Angelo Gordon is excited to create this new position,” says Garrett Walls, Global Head of Marketing. “As the consulting firms we work with evolve it is very important to understand each individual firm’s needs and the needs of their clients. With Jenny’s 25-plus years in the industry, most of which has been focused working with consultants, she is well-equipped to address this challenge.”
Morton says: “I have known of and respected Angelo Gordon for many years and
Hedge fund managers are experiencing the ripple effects of new regulations on banks and prime brokers, with hedge funds facing increased trading fees and broader changes to business relationships.
These dynamics place additional pressure on margins and are leading managers to seek new growth strategies, according to The evolving dynamics of the hedge fund industry, EY's 2015 Global Hedge Fund and Investor Survey.
Regulations such as Basel III and Dodd-Frank have caused banks and their prime brokerage businesses to focus more closely on liquidity, balance sheet capacity and funding, resulting in changing economics for fund managers who finance trades
Affiliated Managers Group (AMG) is to acquire an equity interest in South African hedge fund firm Abax Investments with the firm’s senior partners continuing to hold the majority of the equity of the business and direct day-to-day operations.
With approximately USD5.4 billion (ZAR74 billion) in assets under management as of September 30, 2015, Abax specialsed in South African equity, fixed income, and strategic and tactical asset allocation strategies, as well as a separate global equity strategy. Abax employs a disciplined, fundamental research approach to investing in companies with strong potential earnings growth over the medium and long term, and has
