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Australia has taken a decisive step towards its advancement as a global investment market, with the smooth passage of the Investment Manager Regime (IMR) legislation through the Australian Parliament.
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, notes that the legislation, which contains a number of favourable amendments to its earlier draft form, marks a new chapter for Australia to grow as an attractive destination for foreign capital and fund trading operations.
Michael Gallagher, General Manager of AIMA Australia, said the IMR is the culmination of meaningful consultations between the financial services industry and Australian
Intercontinental Exchange (ICE) has announced that two new direct participants have been approved by ICE Benchmark Administration (IBA) to participate in the gold auction, which is used to determine the LBMA Gold Price.
The new direct participants are Morgan Stanley and Standard Chartered. It was announced last week that Bank of China has been approved to participate in the gold auction. All three new participants join today.
Since assuming administration of the LBMA Gold Price, IBA has grown the number of direct participants in the auction from four to ten. Further new participants are expected in the coming weeks, including
Trading in Euronext’s CAC40 Mini Futures achieved record daily and weekly volumes last week with a total of 8427 contracts traded during the week of 15 June. On 18 June a new total daily volume record was reached with 3189 contracts traded.
CAC40 Mini Futures are part of Euronext’s Mini Index Derivatives franchise on its flagship indices. Mini Index Derivatives are exactly the same as the standard index derivatives, only the contract size is 10 times smaller. This provides investors with the opportunity to trade European blue chip index derivatives with a smaller investment: paying less for options and depositing
The Fed confirmed its dovish stance at the latest FOMC meeting, significantly decreasing monetary policy uncertainty over the course of the summer. Markets responded positively with US equities and Treasuries posting gains. In the Eurozone, uncertainties associated with Greece materially stepped-up.
It was once widely believed that zero was the lowest interest rate possible. On face of it, it’s not obvious why anyone would pay to lend someone money. However, despite how counterintuitive they may be, negative interest rates are real.
Since 2014, the European Central Bank has elected to set the Deposit Facility Rate (DFR) lower than zero in – what some may say – is a desperate attempt to stimulate activity. Since then, the finance industry at large has grappled with finding viable ways of dealing with this counterintuitive concept. In many cases, firms have written code under the
As banks like JP Morgan pull the plug on supporting ‘mini prime’ clients, introducing brokers that operate a multi-clearing service model look set to benefit.
The decision three months ago by JP Morgan’s prime brokerage business to cut lose its clearing and financing arrangements to hedge funds working with introducing brokers (‘IBs’) could have serious repercussions.
Introducing brokers that have only one or two clearing arrangements in place face uncertain times, not to mention emerging managers who rely on IBs as an essential middleman to provide crucial services. This is because they lack the size to warrant a tier-one prime
In this extract from Preqin Infrastructure Spotlight – June 2015, Stephen Yates looks at the 100 largest institutional investors in infrastructure and the extent to which they influence the asset class, examining their make-up, investment preferences and future plans.
A growing number of institutional investors are moving into the infrastructure space owing to the potential for stable and predictable long-term yield, as well as the diversification and inflation-hedging characteristics available through a conservatively managed infrastructure portfolio. At present, Preqin’s Infrastructure Online platform tracks almost 2,300 institutional investors actively investing in the asset class, with an additional 205 investors potentially
Ayaltis has launched a new fund, Narrapuno SPC Convergence, which aims to leverage the firm's experience and insight in the multifaceted strategies of the credit market.
This fund of fund concept focuses on the singular opportunity set, which has evolved through the bank disintermediation process, currently taking place in the direct lending market globally. As a consequence of the more restrictive regulatory environment, banks withdraw more and more from traditional lending to medium and small sized companies. This gap, which Ayaltis expects to widen in the coming years, creates rewarding investment opportunities for non-financial market participants in the private debt sector. The carefully selected,
As the costs of doing business have increased, more and more hedge fund managers are adopting the cloud; this has revolutionised the way all businesses operate, not just hedge funds.
But as technology improves and brings greater operational efficiency and data management capabilities to hedge funders, they are having to walk a tight line between bolstering security on the one hand, and justifying the costs on the other.
The arrival of cheaper and faster bandwidth means that everyone is always connected and as Andrew Flatt, CTO at Omni Partners LLP, a London-based hedge fund manager comments, “we are all ‘always-on’.”
The SS&C GlobeOp Forward Redemption Indicator for June 2015 measured 4.72 per cent, up from 4.68 per cent in May.
“SS&C GlobeOp’s Forward Redemption Indicator for June 2015 of 4.72% reflects normal seasonally-elevated redemption requests, but viewed year-over-year it is an improvement from last June when the same indicator was 4.80%,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Though this represents only a small gain, it is the first positive monthly comparison since January and suggests that investor sentiment may be turning more optimistic regarding prospects for hedge fund performance.”
The SS&C GlobeOp Forward Redemption Indicator represents
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