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Alceda Fund Management SA this week announced a new fund on its Alceda UCITS Platform (AUP). The CCMG Navigator – Tactical Fixed Income Fund, managed by Philadelphia-based Clark Capital Management Group, Inc. The Lux-domiciled fund continues the strategy of the Clark Capital Navigator Fixed Income Total Return Investment Solution, which launched in the US in 2005.
Founded in 1986, Clark Capital manages over USD2.8bn in client assets. Within the mutual fund, portfolio managers seek to deliver income and risk control while reducing interest rate sensitivity. The firm believes a crucial component of the fund is its ability to shift out
Traiana, a provider of pre-trade risk and post-trade processing solutions, has launched an enhanced version of CreditLink with new functionality designed for buy-side market participants trading on swap execution facilities (SEFs).
The enhanced version includes services to streamline post-trade processing of SEF trades, manage the allocations process for bunched orders, and the ability to monitor limits across the entire trade lifecycle.
Buy-side clients complying with mandatory SEF trading are wrestling with new processes for executing, clearing and allocating swaps, with significant added complexity for traders, middle office and risk managers.
The updated release of CreditLink, currently in production,
Following Argentina's agreement to resolve its USD9.7 billion in debts to Paris Club member nations within five years, American Task Force Argentina co-chairs Robert Shapiro and Ambassador Nancy Soderberg have declared their support for Argentina's pledge to act responsibly and encouraged the Argentine government to go further.
"The ultimate path to normalisation must also include negotiating Argentina's longstanding debts with its private creditors as well," says Soderberg. "Engaging private creditors is the next, necessary step to unlocking the Argentine government's remaining barriers to foreign capital markets. Taking that step will create tremendous and immediate benefits for the Argentine people."
The Securities and Exchange Commission (SEC) has issued fraud charges and an asset freeze against an investment fund manager accused of stealing money from investors to pay personal and business expenses.
The SEC alleges that Neal V Goyal told investors that the private funds he managed would invest in securities following a “long-short” trading strategy.
However, Goyal actually did little trading and simply operated a Ponzi scheme that used new investor funds to pay redemptions to existing investors and fund his own lavish lifestyle.
Goyal concealed the poor results of the few investments he did make by sending
North Street Global Fund Services, an alternative asset administrator, has closed on its acquisition of Los Angeles-based hedge fund administrator Hedge Solutions.
North Street Global Fund Services chief operating officer Joseph Musto, who co-headed the acquisition team, says: “Hedge Solutions is a great fit into the North Street Global family and further acts as a clear indication of our commitment to growing our resources to better serve our clients.”
This acquisition by North Street is its second such transaction in the last 12 months and additionally expanded the firm geographically to the west coast.
North Street will keep
Nathan Gibbs, Japanese Equities Fund Manager at Schroders, comments on the impact of recent Japanese retail sales and inflation data for the country's economy…
Data released over the past two days in Japan showed April retail sales dropped 13.7% from the previous month while inflation over the same period rose 3.2% from a year earlier. Although a slightly worse decline than consensus expectations, we do not believe these numbers have come as any great surprise.
Following the 1 April consumption tax hike, that saw a 3% increase from 5% to 8%, sluggish April numbers were to be expected – particularly
UK-based hedge fund manager Man Group has confirmed that it is in talks to acquire Boston-based fund management group Numeric Investors.
According to a short statement on the group’s website, the company says that it: “notes the recent press speculation and confirms that it is in discussions concerning the possible acquisition of Numeric Holdings LLC. These discussions are ongoing and may or may not lead to a transaction. Further announcements will be made if and when appropriate.”
Numeric, which currently has approximately USD14 billion in assets under management, focuses mainly on quantitative investment strategies.
The hedge fund industry has survived the global financial crisis, diversified its offerings beyond its traditional investor bases, and is currently in a phase of optimising its business operations and offerings.
That’s according to Citi Investor Services’ fifth Annual Industry Evolution survey.
By all metrics, the industry is thriving, with assets continuing to grow to new record highs. Citi sees the total pool of capital being advised by hedge fund managers doubling from USD2.9 trillion in 2013 to USD5.8 trillion in 2018.
In addition to offering more access to retail investors and creating customized solutions for institutional investors,
Chicago-based investment manager Emil van Essen has launched the EvE Multi-Strategy Programme (EvE MS).
EvE MS is a 50-50 combination of the firm’s flagship EvE Spread Trading Programme (EvE STP) and the EvE Long-Short Commodity Programme (EvE LSCP).
“We are very proud of EvE STP and EvE LSCP and are excited to offer these programmes in combination,” says Emil van Essen, chief executive. “We believe the MS will provide risk-adjusted returns that are superior to the individual programmes while maintaining their non-correlation and diversification benefits from other CTA programmes.”
Chicago Board Options Exchange (CBOE) plans to introduce PM-settled, end-of-month options series (EOM) – with expiration dates falling on the last business day of the month – for its S&P 500 Index (SPX) options.
CBOE is adding SPX EOM options to its SPX options product line in response to requests from asset managers who want to more precisely match SPX option expirations to end-of-month fund cycles and fund performance periods.
"End-of-month options represent another dimension to our extensive S&P 500 Index options complex, which includes our flagship SPX contract, SPX end-of-week, SPX end-of-quarter and SPX LEAPS contracts. Each of
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