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361 Capital, an asset management firm specialising in liquid alternative investments, has launched the 361 Global Managed Futures Strategy Fund.
The fund, which became effective on 12 February 2014, has gained 5.6 per cent since inception for the Class I shares.
The launch of the Global Managed Futures Strategy Fund follows the firm’s flagship 361 Managed Futures Strategy Fund, which finished 2013 as the top-rated managed futures fund since its inception, according to Morningstar. The 361 Managed Futures Strategy Fund grew by nearly 300 per cent in 2013 with net inflows of USD364m, bringing total assets to USD490.5m.
Union Investment, one of the largest German asset managers for private and institutional investors, has adopted EurexOTC Clear for Interest Rate Swaps (IRS).
The company has been connected as an individually segregated client since end of March and has cleared the first transactions using EurexOTC Clear via its clearing member Deutsche Bank.
Union Investment is the first major asset manager to have fully concluded onboarding using the German clearing framework agreement.
More than 120 further buy-side firms are currently in the connection process to use Eurex Clearing’s OTC service.
Union Investment is a member of the cooperative
Neuberger Berman has appointed Erik Knutzen as multi-asset class chief investment officer.
Knutzen (pictured) joins to deepen the multi-asset class strategic partnerships Neuberger Berman has with institutional investors.
Knutzen will drive the asset allocation process on a firm-wide level and create related client content for strategic partnerships and multi-asset class solutions while joining in portfolio management on a number of mandates.
"Erik's skills and experience complement our existing client partnership capabilities," says Joseph Amato, president and chief investment officer, Neuberger Berman. "Adding a seasoned, senior multi-asset class investor to an already deep capability at the firm helps Neuberger Berman deliver
Hedge fund matchmaker Hedge Connection has seen its membership growth double in the six months since the SEC lifted the ban on hedge fund advertising.
Hedge Connection’s online platform, with its suite of social tools built to facilitate networking within the hedge fund industry, has seen its registrations rise from both managers and allocators.
“The lifting of the ban on advertising has levelled the playing field for hedge funds,” says Hedge Connection CEO Lisa Vioni. “We believe that our site growth is directly correlated to this change in law as mandated by the JOBS Act because the level of
BATS Chi-X Europe is introducing a new pricing model on its CXE Lit Order Book, the largest of the exchange’s four European order books.
The changes are in response to higher market volumes and are designed to bring more competitive pricing to more participants.
The pricing, which is effective retroactively from 1 April 2014, applies to UK, Irish, French, Dutch, Belgian, and Portuguese securities. Depositary receipts and ETFs within these listing markets are included. All other pricing remains the same.
Mark Hemsley, CEO of BATS Chi-X Europe, says: “Throughout our short history, BATS Chi-X Europe has driven exchange
The Hong Kong Trust Company has chosen and implemented Linedata Admin Edge to provide fund administration servicing for its client base of individuals, family offices, intermediaries and corporations.
Hong Kong Trust provides professional trusteeship, fiduciary services, fund and private equity administration and corporate services.
The selection of Linedata Admin Edge was based on the platform’s strong functionality and ability to manage both fund administration and transfer agency functions and to handle a broad range of funds, many with special rules. Other criteria were the scalability, automation and compliance benefits of this established, robust administration platform.
Carolyn Butler, CEO
March proved to be a choppy month with geopolitical risk flaring up in Ukraine and the unexpected hawkish language from the Fed causing risk markets to react before generally recovering into month-end.
Anthony Lawler, portfolio manager at GAM, notes that despite slightly negative returns for many hedge funds during March the first quarter was positive for three of the four main hedge fund strategies.
Managers continue to find opportunities created by dispersion across asset classes and markets.
"We continue to be positive on the opportunity set for hedge funds given the dispersion we are seeing within asset classes
The Credit Suisse Liquid Alternative Beta (LAB) Index was up 0.33 per cent in March, with four of the six sub strategies recording positive performance for the month.
The index aims to reflect the performance of the overall hedge fund industry.
The long/short equity strategy was the strongest performer for the month, finishing up 0.65 per cent, while the strongest performing strategy year-to-date was the event driven strategy, which has so far returned 2.87 per cent.
Managed futures and merger arbitrage were the two strategies to end the month in negative territory with returns of -1.25 per cent
Alternative investments provider Steben & Company has launched a new fund of hedge funds, the Steben Select Multi-Strategy Fund.
"For 25 years, Steben has built its reputation on our ability to select and screen what we believe are some of the best alternative investment managers from around the world," says Ken Steben, president and chief executive officer. "The Steben Select Multi-Strategy Fund brings together multiple top tier hedge fund managers whose historical performance has low correlation to both traditional investments and a number of other alternative investment styles in one easily accessible product under the oversight of our highly experienced
Monique Melis (pictured), Global Head of Consulting at Kinetic Partners, the global professional services firm comments on whistle blowers…
As the SEC has previously noted, the whistleblower program is one of the more powerful weapons in its law enforcement arsenal. The steps the regulator has taken, such as instituting incentive rewards for whistleblowers to come forward, have already proven effective and led to a number of successful enforcement actions.
However, as an industry we must ask ourselves whether or not awarding whistleblowers so substantially sends the right message or if it could encourage misguided whistleblowing by self-interested or malicious tipsters.
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