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Absolute return manager GEMS Groups has received legal and regulatory approval for its acquisition of Kenmar-Olympia.
Following the merger the combined business will be known as the GEMS Kenmar-Olympia Group and will be active in managing over USD2bn through a wide range of asset management products and services both in financial and real estate markets.
The group offers in particular multi-strategy alternative and long only funds of funds on macro and thematic strategies; as well as a range of systematic global and sectorial single funds.
The GEMS Kenmar-Olympia Group has a strong international presence with offices in London, Paris,
Investment firm FORT Management has expanded its operations and opened a new office in New York.
Based in Chevy Chase, Maryland the firm was founded by former fund managers at the World Bank, Yves Balcer and Sanjiv Kumathe.
The firm manages approximately USD700m in assets on behalf of institutional and high net worth investors worldwide.
Balcer is heading up FORT’s new office, located at 540 Madison Avenue, and is being joined by two new managing directors – Alan Marantz and Douglas McKeige – who have come on board to direct business development and assist in overall firm management.
First-day trading volume for CBOE Short-Term Volatility Index options with weekly expirations totalled an estimated 3,134 contracts, according to data released by the Chicago Board Options Exchange.
“We were pleased to see a very active opening day of trading in Short-Term VIX options, with strong volume and broad market participation,” says CBOE Holdings CEO Edward T Tilly. “Short-Term VIX options bring a new dimension for volatility trading to the market, and it is clear from today’s activity that market participants see tremendous utility for the contract.”
CBOE developed VXST options in response to proven demand for Weeklys options generally,
Experts from across the insurance linked securities (ILS) asset class are coming together to discuss the industry’s pressing issues at a Guernsey Finance-hosted thought leadership event in Zurich.
The event, ‘ILS Insight’, takes place at the Park Hyatt Zurich on 2 July and will include two panel sessions featuring ILS experts from Guernsey, the UK and mainland Europe.
Guernsey has become a leading destination for ILS; figures at the end of last year showed that Guernsey licensed 89 new international insurers during 2013, with more than 40 of the licences structures relating to ILS.
Fiona Le Poidevin, chief
Interdealer broker Tullett Prebon’s alternative investments team has launched a service to manage the sale of bankruptcy claims on the secondary market.
Tullett Prebon Alternative Investments offers an auction process for the sale of illiquid assets on the secondary market.
The group’s proprietary technology is deployed to offer investors an efficient and transparent process leading to a verifiable price.
The auction process has managed the sale of interests across a wide range of illiquid asset classes including hedge funds, private equity, real estate, non-performing loans and now bankruptcy claims.
The team has overseen a two-stage auction process
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has appointed three new directors to its global council, its governing body.
The three directors are Simon Lorne, vice-chairman and chief legal officer of Millennium Management; Tim O’Brien, partner, general counsel and CCO of Pine River Capital Management; and Stuart Fiertz, president and co-founder of Cheyne Capital Management (UK).
Kathy Casey, AIMA chair, says: “We are most fortunate to add three enormously experienced and well-qualified directors to our council. I would like to personally thank Stuart, Simon and Tim for volunteering to serve on the board. Their
Eurex Clearing has published a study looking at maximising capital and cost efficiency through an integrated cross-product central counterparty (CCP) clearing service.
The study was supported by and commissioned to Oliver Wyman, a global management consulting firm.
The study reviews how new capital and collateral requirements impact derivatives and securities financing markets. The analysis shows that netting efficiency, default fund structure and collateral efficiency are core drivers for capital efficiency.
Sell- and buy-side participants alike can substantially lower their capital and funding cost by actively pooling clearing business on an integrated cross-product CCP. Besides achieving savings from cross-margining
The Ardsley Partners US Equity UCITS Fund has launched on ML Capital’s Montlake UCITS platform.
Ardsley Partners is a long-short equity manager founded in 1987 and based out of Stamford, Connecticut.
The firm invests globally, with a focus on technology, telecom, life sciences, energy and alternative energy companies.
The company manages around USD900m in assets, and is led by founder and CEO, Philip Hempleman.
Richard Rankin, managing director of investor relations and chief operating officer at Ardsley Partners says: "We are pleased to have joined the MontLake UCITS Platform and excited with the opportunity that it provides
Gar Wood Securities has promoted industry veteran Craig Gantar to senior vice president and sales manager.
Gantar has over 15 years of industry experience, and joined Gar Wood in 2007 as a senior client service associate on the Gar Wood Pro Desk and worked directly with institutional clients and brokers.
In addition to the new sales manager position, Gantar will continue to oversee the client and broker on-boarding process.
"Craig has done a great job in supporting our brokers and clients over the past 6 years, and I am confident that his experience, knowledge and relationships are a
The Eurekahedge Hedge Fund Index was up 1.05 per cent in Q1 of this year even as hedge funds recorded another month of negative returns in March.
Net asset flows for Q1 stood at USD32.6bn, with North American and European fund managers leading the tables with USD17.7bn and USD13.6bn, respectively. Asia hedge funds were down 0.24 per cent, with managers focused on the Greater China region posting strong losses, declining by 3.47 per cent. Japan-focused hedge funds posted their third consecutive month of negative returns. These were down 0.84 per cent in March and 2.09 per cent in Q1.
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