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GAMCO Investors has named Christopher J Marangi and Kevin V Dreyer as Co-Chief Investment Officers of the firm’s Value team joining Chairman Mario Gabelli (pictured) in implementing GAMCO’s Private Market Value with a Catalyst stock selection investment process.
Marangi and Dreyer and have been members of the Value team managing institutional and high net worth separate accounts in the All Cap Value strategy since January 2011 and have managed various mutual funds and institutional accounts since 2007.
Marangi and Dreyer joined the firm as security analysts in 2003 and 2005, respectively, from Columbia Business School.
Marangi graduated magna cum laude
Trading volume in July for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE) was 106.5 million contracts, an increase of 7 per cent from June 2015 and a decrease of 2 per cent from July 2014.
Total options and futures average daily volume (ADV) at CBOE Holdings for July was 4.8 million contracts, an increase of 7 per cent from June 2015 and a decrease of 2 per cent from July 2014.
CBOE's ADV for the month was 4.3 million contracts, up 7 per
Bank of America Merrill Lynch (BofAML) will be a participant of the GMEX Exchange when the exchange launches on 7 August 2015. BofAML will offer execution and clearing services, for the GMEX products, to its client base.
The initial products traded will be GMEX’s pioneering Interest Rate Swap Constant Maturity Futures (IRS CMF) contracts, backed by Eurex, which bring the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and hedging of interest rate exposure.
Bank of America Merrill Lynch will provide clearing, execution and settlement services for the IRS
July average daily transaction value on the Euronext cash order book stood at EUR7,911 million (+38 per cent compared with July 2014). Activity on ETFs remained dynamic with an average daily transaction value at EUR513 million, up 81 per cent on July 2014.
In July, the average daily volume on equity index derivatives was slightly down at 208,718 contracts (-8 per cent compared with July 2014), and the average daily volume on individual equity derivatives was down at 215,648 contracts (-21 per cent compared with July 2014). The exchange’s effort to develop the retail activity in Amsterdam paid off again
Eze Software Group has released a number of new features for the buy-side and the sell-side in the latest version of its EMS. Enhancements include actionable IOI support, securities borrowing improvements and enriched support for ACT reporting.
Traders now can receive targeted indications of interest from brokers within the EMS. The EMS standardises all incoming IOIs and distributes them to traders at broker-targeted clients. Traders can view and trade IOIs from a variety brokers. The feature also benefits the sell-side, making the EMS a destination for broad IOI distribution to Eze Software’s client base.
“The actionable IOI feature provides
Bermuda remains fully committed to the process of qualifying under rules set out by the European Union for third-country rights for Island-based alternative fund managers.
The European Securities Market Authority (ESMA) last week cleared the way for Guernsey, Jersey and Switzerland (pending passage of legislation by the latter) to be approved for extension of "passport" rights that would allow non-European Union fund managers to market their Alternative Investment Funds (AIFs) in EU member states on a cross-border basis. The recommendation would extend the same rights to approved non-EU entities that are currently available only to EU-based AIF managers (AIFMs).
In
Aberdeen Asset Management is to acquire Arden Asset Management (Arden), a provider of hedge fund solutions with offices in New York and London.
This acquisition is in line with Aberdeen’s strategy to strengthen and grow its global alternatives platform encompassing multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects. This means that Aberdeen can offer its clients access and exposure to high quality alternative investments across liquid strategies, private markets and real assets.
Arden is a hedge fund specialist that creates and manages hedge fund portfolios across the liquidity spectrum using
Three of Market Vectors Index Solutions (MVIS) six investable Long/Short Equity Indices recorded positive performance in July.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Western Europe Long/Short Equity Index led the way wiyh a return of 1.80 per cent followed by the Market Vectors Global Long/Short Equity Index (1.61 per cent) and the Market Vectors Emerging Markets Long/Short Equity Index
(0.26 per cent).
The month’s biggest loser was the Market Vectors Asia (Developed) Long/Short Equity Index which was down
The new DC Charge cap on default funds may eventually drive trustees to source products based on cost rather than the value that a well-sourced selection of investment solutions should deliver for their members.
That’s the concern of Aurum, a specialist alternative investment manager focused on hedge fund solutions.
Kevin Gundle (pictured), CEO of Aurum Funds Limited, says: "The charge cap restricts the ability of investment managers to provide innovative solutions that provide greater value to pension fund members. This industry could be in real danger of being left with a series of conventional, undifferentiated, low-cost products in a race
Over the last 10 years, organisations have undergone a wholesale change in the way they run their businesses. Thanks to cloud-based platforms, wireless Internet, and the proliferation of desktop and mobile device applications, the perimeter of most businesses has moved beyond the four walls of their office. This has revolutionised the way people work: no longer tied to their desks they can be equally as effective aboard an aircraft or sitting next to the beach on vacation.
Data has become instant. Accessible.
Of course, this has placed huge demands on IT managers who must now control the security of their
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