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Singapore Exchange (SGX) has cleared more than USD3 billion notional worth of Malaysian Ringgit (MYR) and Thai Baht (THB) non-deliverable interest rate swaps (NDIRS) since its launch on 7 April 2014.
This new asset class, with net interest payment settled in US dollars, has been actively traded in the over-the-counter (OTC) markets in Singapore and in the region.
The clearing of both MYR and THB NDIRS, with trade maturities of up to 10 years, further strengthens SGX’s suite of OTC financial derivatives which includes interest rate swaps (IRS) in Singapore Dollar (SGD) and US Dollar as well as non-deliverable
Deutsche Asset & Wealth Management has launched the DWS Strategic Equity Long/Short Fund, a mutual fund which seeks to provide long-term capital appreciation by employing a multi-manager investment approach.
Assets will be allocated among separate sub-advisors with diverse equity long/short investment strategies across various market capitalisations and geographies.
“Alternative mutual funds are a critical part of our overall Americas strategy and we are committed to growing this platform,” says Jerry Miller, head of DeAWM in the Americas. “With over USD135 billion in alternative assets under management and over 40 years in the space, DeAWM is one of the world’s
HFR Asset Management this week announced the launch of the Advent Global Opportunity Strategy under the HFR Umbrella UCITS Fund plc, domiciled in Ireland and regulated by the Central Bank of Ireland on 1 April. It is the first in a series of funds to launch on the platform.
The HFR UCITS Platform provides investment managers with a turnkey solution for launching their full investment strategy in a UCITS-compliant fund. Institutional investors gain exposure to a manager’s full investment strategy and receive all the benefits of the HFR Managed Account Platform, including daily risk management, performance estimates, ongoing due diligence, fund administration,
Hedge fund assets under management have reached an all-time high of USD2.938 trillion, according to eVestment’s April 2014 Hedge Fund Asset Flows Report.
The previous high was set in Q2 2008 just a few months before the height of the financial crisis.
Investors allocated USD17.9 billion to hedge funds in April, the third consecutive month of elevated inflows. Investors have added USD68.4 billion through April, far surpassing inflows from 2013 and 2012 for the same time frame.
Investors continued to show preference to equity strategies over credit in April, however equity fund flows were noticeably lower than over
Singapore’s United Overseas Bank (UOB) has joined Eurex Clearing, becoming the first Asian member of the derivatives marketplace and clearing house.
UOB can now clear business of Asian and international Eurex trading members and provide the respective services to them.
UOB Bullion and Futures (UOBBF), a wholly-owned subsidiary of UOB, has been a trading member of Eurex Exchange since August 2008 (as a non-clearing member). In 2012, Eurex Clearing received regulatory non-objection from the domestic regulator, Monetary Authority of Singapore, to admit remote clearing members from Singapore.
Terence Ong, head of global markets and investment management at UOB
Sigma Analysis & Management has appointed Dr Ranjan Bhaduri as chief research officer to expand the firm’s strategic capabilities in the hedge fund space.
Sigma has been working with large pension plans for 15 years to redefine the standards of transparency and provide a deeper dive approach built on rigorous analytics in hedge fund investing.
“Sigma’s mission is to empower investors with enhanced knowledge to make better hedge fund investment decisions,” says Luis Seco, president, chief executive officer and co-founder of Sigma. “Dr Bhaduri’s intellectual leadership over the years has been parallel to Sigma’s vision; his addition to our
Less than a third (28 per cent) of European financial industry participants believe that European equity markets are currently fair for all, and almost twice as many (28 per cent) believe that high frequency trading (HFT) is harmful as believe it is helpful (14 per cent).
That’s according to ConvergEx Group’s European Equity Market Structure Survey, which explores the concerns and actions of financial industry participants regarding HFT, regulatory oversight and market stability.
Despite these concerns, more than two-thirds (67 per cent) report that they have not made any changes to the way they interact with markets.
In
Law firm Reed Smith has appointed partner Winston Penhall and associate Matt Evans to its funds group in London.
Both Penhall and Evans re-join Reed Smith following their moves to KPMG, in 2012 and 2013 respectively, where Penhall was the founder and leader of the KPMG funds law team.
Penhall has a broad funds practice, advising on the formation of alternative investment funds, including: hedge funds and private equity funds; the establishment of onshore and offshore investment managers; the review and negotiation of fund wrapped and managed account investments for institutional investors; and the drafting and negotiation of manager
Twelve Capital is closing it Private Debt strategy to investment from 30 May until 31 December.
The strategy has attracted subscriptions of more than USD400m since it launched in November 2013.
During the closure, which Twelve Capital feels is in the best interests of existing investors, redemptions and all other investment procedures will continue to operate as normal. In particular, subscriptions which we accepted prior to this closure or mandates which are currently in ongoing negotiations, will not be concerned.
Urs Ramseier (pictured), chairman of Twelve Capital, says: “We are very happy about the success of our Insurance Private
The US Commodity Futures Trading Commission (CFTC) has issued an order against RP Martin Holdings Limited, and its subsidiary Martin Brokers (UK) Limited, filing and settling charges of manipulation and attempted manipulation of the London Interbank Offered Rate (Libor) for Yen.
The CFTC order finds that, from at least September 2008 through at least August 2009, RP Martin brokers on its Yen desk at times knowingly disseminated false and misleading information concerning Yen borrowing rates to market participants in attempts to manipulate, at times successfully, the official fixing of the daily Yen Libor.
RP Martin brokers did so primarily
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