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PIMCO co-founder and CIO William H Gross is leaving the firm to join Janus Capital Group where he will manage the recently launched Janus Global Unconstrained Bond Fund and related strategies.
Gross joins Myron Scholes, PhD, and other members of the Janus team focused on global asset allocation. His employment will be effective 29 September, 2014 and he will begin managing the Janus Global Unconstrained Bond Fund and related strategies from 6 October, 2014.
PIMCO has a succession plan in place and its Management Board, comprised of its Managing Directors, is expected to confirm shortly the election of a new
Gatekeepers anticipate increasing the proportion of alternative investments used in institutions' portfolios through 2015, according Cerulli.
The September 2014 of The Cerulli Edge – US Monthly Product Trends says consultant and institutional investor demand bodes well for asset managers overseeing alternative asset strategies.
At USD11.9 trillion and USD1.9 trillion, respectively, mutual funds and ETFs are at their highest asset levels since January 2014.
The large-blend and foreign large-blend categories captured the most flows for mutual funds in August and 2014 YTD.
ETF flows increased by 20 per cent from July to August, but they lagged behind June's
Lombard Odier Investment Managers (LOIM) has appointed Andrea Argenti as country head for its business in Italy, effective December 2014.
Argenti joins from BlackRock Investment Management where he spent the last 14 years and since 2006 was head of retail Italy for that business.
Before joining BlackRock in 2000, Argenti was a sales manager at Société Générale Asset Management in Milan and began his career at Alcor, Solvay Group.
He will be based in Milan and report to Hubert Keller, chief executive of LOIM and a managing partner of Lombard Odier.
“Italy is a key market for
Deloitte has strengthened its hedge fund practice with two key appointments for the UK and EMEA regions.
Chris Farkas joins Deloitte as UK hedge fund leader. He was Deutsche Bank’s European head of hedge fund consulting in its prime brokerage group, working with global top 100 hedge funds and significant hedge fund start-ups.
Prior to Deutsche Bank, Farkas was head of sales at GlobeOp and executive director on the Goldman Sachs European hedge fund consulting team.
Farkas’ appointment follows the announcement that Deloitte’s Brian Forrester will take on the role of hedge fund leader for the Europe, Middle
Bitcoin, gold and sterling exchange Netagio has partnered with Isle of Man payment services provider WalPay, allowing customers to deposit funds and receive international payments in GBP, EUR and USD.
Further currencies are to follow.
The new banking facilities, in place from 25 September 2014, are underpinned by European banking partners that are authorised and regulated in accordance with the European Payment Services Directive.
In addition, the partnership with WalPay will soon enable Netagio customers to make credit and debit card payments to their Netagio trading accounts, once the integration has been completed. Any Netagio customer holding a
Monetary policy divergence is not the only kind of divergence in the global economy that is contributing to a prolonged global and US economic expansion, says BNY Mellon Chief Economist Richard Hoey…
Currency markets can be a mechanism for redistributing growth and inflation within the global economy. “Expectations of future monetary policy divergence have been generating favourable trends in currency divergence. We expect a prolonged global and US economic expansion.
With a reduction in the fiscal drag and the deleveraging drag, combined with the gradual adjustment of the financial system to restrictive financial regulation, some acceleration in the pace of
Foreign Exchange Professionals Association (FXPA), a new trade body comprised of a cross-section of FX industry participants, is now up and running.
Based in Washington, DC, FXPA’s aim is to engage key US and international regulators, policymakers, the general public and news media, through a combination of education, research and advocacy to advance a sound, liquid, transparent and competitive global currency market.
Diversity of membership is embedded in FXPA’s organisational construct to ensure wide representation of the professional FX market. Founding members include the buy-side, exchanges, clearing houses, trading platforms, MTFs, technology companies, banks and non-bank market participants.
By Dawn Howe (pictured) and Michael Padarin, Walkers – From the point of view of a Cayman Islands investment funds lawyer it seems as if FATCA dawned on most clients around January 2014, even though it's been gestating for a number of years. The wake up call was usually a GIIN request from the client's prime broker, resulting in a scramble to get up to speed and implement a FATCA compliance program within their fund complex.
This article is intended to share other asset management clients' experience of FATCA over the course of this year, and should hopefully allow you breathe a
A study by Aquila Capital's quant team demonstrates how a ‘Factor Premia’ approach to investment can deliver additional sources of return and improve portfolio diversification when added to a balanced risk parity portfolio.
According to Aquila Capital, the addition of a ‘Factor Premia’ approach could help a risk parity portfolio to better withstand times of market stress, as seen in May and June 2013.
Aquila’s ‘Factor Premia’ approach moves away from the traditional view of asset classes and instead looks at the underlying forces – the factors – that actually drive asset prices. Its new ‘Factor Premia’ study provides
The International Swaps and Derivatives Association (ISDA) and Markit have launched the ISDA Canadian Representation Letter on ISDA Amend, a joint electronic solution that streamlines aspects of compliance with Dodd-Frank, EMIR and other over-the-counter derivatives regulatory requirements.
On 14 November 2013, the Ontario Securities Commission (OSC), the Manitoba Securities Commission (MSC) and the Autorité des Marchés Financiers (AMF) published Rule 91-507 requiring reporting counterparties to report certain derivatives data to designated or recognised trade repositories with respect to transactions involving local counterparties. Trade reporting requirements in Canada begin on 31 October 2014.
Lansing Gatrell, managing director and head of Markit’s
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