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Lyxor Asset Management has partnered with Chenavari Investment Managers to launch the Lyxor/Chenavari Credit Fund, a new European focused long/short credit strategy on Lyxor’’s alternative UCITS platform.
The fund focuses on niche long/short credit market strategies by taking advantage of opportunities arising from bank deleveraging and financial dislocation in Europe. This investment strategy is based on a fundamental, “credit spread neutral” approach that seeks consistent absolute returns, with a low volatility and correlation to broader credit indices. The use of liquid instruments enables a dynamic trading approach.
Founded in 2008, Chenavari specialises in European credit and structured finance. The Firm
The European Securities and Markets Authority (ESMA) has published its Advice in relation to the application of the AIFMD (Alternative Investment Fund Managers Directive) passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs) and its Opinion on the functioning of the passport for EU AIFMs and the national private placement regimes (NPPRs).
The Advice and Opinion, required under AIFMD, will now be considered by the European Commission, Parliament and Council.
The Advice relates to the possible extension of the passport, currently only available to EU entities, to non-EU AIFMs and AIFs which are currently subject
The European Securities and Markets Authority (ESMA) has made a recommendation to the European Parliament, Council and Commission, that Jersey should be amongst those ‘third countries’ granted an AIFMD passport.
This recommendation follows ESMA last year issuing a ‘Call to Evidence’ for them to consider whether to extend the AIFMD passporting regime beyond EU Alternative Investment Funds (AIFs) managed by EU Alternative Investment Fund Managers (AIFMs). Separate responses were submitted to ESMA from the JFSC and local industry to this ‘Call to Evidence’ in this respect.
The JFSC is fully engaged with ESMA and has been working hard
In a new study produced as part of the Société Générale Prime Services (Newedge) research chair on “Advanced Modelling for Alternative Investments”, EDHEC-Risk Institute attempts to give an overall view on alternative equity beta strategies, to determine the areas of usage and to analyse the alternative equity beta practices and perceptions of investment professionals.
Between January and February 2014, EDHEC-Risk Institute carried out a survey among a representative sample of 128 investment professionals to identify their views and uses of alternative equity beta.
Among the key findings of the survey:
• Investors are familiar with the construction principles of advanced
One in four (25 per cent) senior asset management executives believe it’s “highly likely” they will face direct competition from a non-traditional new entrant such as a technology or non-financial services company within the next five years.
That’s according to a new report from State Street Corporation, which also reveals that a further 54 per cent believe this threat is “somewhat likely.”
The findings are from a global survey conducted by the FT Remark commissioned by State Street among 400 senior asset management executives for a new report entitled: “Opportunities for Optimism? A New Vision for Value in Asset
The Depository Trust & Clearing Corporation (DTCC) has urged legislative and industry action to address three key obstacles that are hindering achievement of the G20 transparency goals set forth by policymakers in the aftermath of the 2008 financial crisis.
During a US. House of Representatives Committee on Agriculture hearing on the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), Larry Thompson (pictured), Vice Chairman and General Counsel at DTCC stated that while progress has been made since the crisis, the goal of global data transparency – a critical element in understanding systemic risks and interconnectedness,
The Chicago Board Options Exchange (CBOE) is collaborating with the Singapore Exchange (SGX) to launch the first international extension of the world-renowned CBOE Options Institute. The "CBOE Options Institute at SGX" is expected to launch in the fourth quarter of 2015.
The CBOE-SGX educational collaboration leverages CBOE's options education expertise and the trusted "CBOE Options Institute" brand with SGX's position as a gateway to Asian financial markets.
The CBOE Options Institute at SGX will be dedicated to engaging Asian investors in the effective use of options and volatility strategies to manage risk. The program will be part of the
With cyber risks increasing year-on-year, and regulators such as the Securities and Exchange Commission (`SEC') taking an increasingly prominent role in assessing the preparedness of broker-dealers and registered investment advisors, establishing cybersecurity best practices is not only useful; it's a necessity.
Cybersecurity is a complex web and as such there are many areas to consider. The best place for any manager to start is to take a step back and assess the risk of their overall business environment.
"It should be woven into business process and supported by senior management. It should not be relegated as being just an IT
Cybercrime could extract up to 20 per cent of the global economic value created by the Internet through fraud and espionage, according to the Centre for Strategic and International Studies. Following last year's Cyber-Security Risk Alert, the SEC's Division of Investment Management released guidance this April to help investment managers prevent external attacks.
"The guidance can be boiled down into three key areas of recommendation: assessment, strategy and implementation," says Bob Guilbert (pictured). Managing Director at Eze Castle Integration, the leading provider of IT solutions and private cloud services to more than 650 global alternative fund managers.
Guilbert outlines the
There is a tendency when faced with a potentially serious threat to take extreme measures in life. Cybersecurity is no different. Many firms are looking for a quick fix, even if it comes with a high price tag. However, should managers take a more balanced and common sense approach to tackling the issue of cybersecurity, before spending vital operating capital on expensive individual solutions?
"Frequently, hedge funds are led to believe that the best way to protect themselves against cyber threats is to invest in expensive intrusion detection systems (IDS) or sophisticated firewalls," says James Tedman (pictured), Managing Director, ACA
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