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BNP Paribas Securities Services, a global custodian with nearly USD8trn in assets under custody, has expanded its depositary banking business to the Swiss market.
This launch allows BNP Paribas’ asset manager and asset owner clients with funds domiciled in Switzerland to benefit from the banks’ pan-European expertise in depositary services such as cash monitoring, oversight and safekeeping of assets.
BNP Paribas is one of Europe’s largest depositary banks with around EUR900bn in assets under depositary.
This announcement follows several expansions to BNP Paribas’ depositary banking network in recent months, with launches in the UK and the Netherlands and
The Ei-3 Top Performers Index is a new, investable hedge fund benchmark designed to reflect alternative and diversified hedge fund strategies from the universe of hedge funds represented on the Exante platform.
The Ei3 Top Performance Index provides investors exposure to a diversified, AUM-weighted composite of innovative and consistently high performing hedge funds.
The Ei-3 Top Performers Index returned 25.28 per cent in 2013, outperforming HFR Global (6.72 per cent), Eurekahedge Absolute Return (11.19 per cent), Barclay Hedge Fund Index (11.16 per cent), Bloomberg Hedge Funds Aggregate (7.4 per cent), BTOP50 (0.72 per cent), and MSCI World (24.10 per
Quantitative hedge fund manager 80 Capital has opened its Helium strategy to external investors following a 23-month trading run and the acquisition of substantial seed capital.
The Helium strategy, developed and run by former Deutsche Bank quantitative executive Philippe Azoulay, is being spun out as the first external investment of newly established 80 Capital LLP, which has received USD50m in seed capital investment from the bank.
“Receiving this level of institutional backing is unprecedented. It demonstrates the power of the Helium strategy,” says Azoulay.
Helium outperformed most of its managed futures peers in the 23 months from February
Recent major investment aimed at growth within Jersey’s financial services industry is a positive indicator of confidence within the market, according to Geoff Cook, chief executive of Jersey Finance.
The Ogier Group announced this week that Ogier Fiduciary Services has been subject to a management buy-out with ambitious growth plans, backed by private equity manager Electra Partners, whilst Apex, one of the world’s biggest fund administration firms, recently opened an office in Jersey.
This follows the results of the recent Jersey Business Tendency Survey, which found that just over half of financial services firms anticipate a rise in employment
Commodities have had a tough time since the global financial crisis, but are we starting to see the light appear a little sooner than forecast? Scott Wolle (pictured), chief investment officer for the Invesco Global Asset Allocation (IGAA) team, highlights why they maintain a constructive view of commodities and the role that they can play in Invesco’s portfolios…
On the surface, 2014 looks to be a tough year for commodities, as multi-year projects increase the flow of supplies to market even as demand has turned tepid, especially in emerging markets. However, a deeper look at the history of this asset
The Securities and Exchange Commission (SEC) has charged a pair of Florida college professors with perpetrating a complex naked short selling scheme for more than USD400,000 in illicit profits.
Abusive naked short selling occurs when shares are sold without having the shares to deliver, and then intentionally failing to deliver the securities within the standard three-day settlement period.
An SEC investigation found that Gonul Colak and Milen Kostov repeatedly engaged in a series of sham transactions designed to perpetuate a naked short position as part of an elaborate options trading strategy.
Colak and Kostov were required to deliver
MarketAxess SEF Corporation’s self-certification of available-to-trade determinations for certain credit default swap (CDS) contracts is now self-certified, according to the Commodity Futures Trading Commission (CFTC).
The CDS contracts included in MarketAxess’ MAT Determination were previously determined to be made available to trade as a result of an earlier MAT Determination submitted by TW SEF LLC (Tradeweb) that was self-certified on 27 January 2014.
Under Commission regulations, these CDS contracts, whether listed or offered by MarketAxess or any other swap execution facility (SEF) or designated contract market (DCM), will become subject to the trade execution requirement under section 2(h)(8) of
CBOE Futures Exchange plans to launch trading of futures with weekly expirations on the new CBOE Short-Term Volatility Index (VXST) on 13 February, pending regulatory review.
Chicago Board Options Exchange developed the index in response to demand for Weeklys options generally, and volatility contracts that measure a shorter time period in particular.
Like CBOE's flagship CBOE Volatility Index (VIX Index), the Short-Term VIX Index reflects investors' consensus view of expected stock market volatility using CBOE's proprietary VIX methodology.
Both indexes use S&P 500 Index (SPX) options in their calculations. The VIX Index uses SPX monthly options to measure expectations
Natixis Global Asset Management has come to market with the launch of a new UCITS fund. As reported by Citywire Global, the firm has launched a UCITS-compliant version of its Global Emerging Bonds fund. Until now the fund had only been available to French investors when it launched in October 2011.
The UCITS fund will be available to investors in Belgium, Germany, Italy, Luxembourg, the Netherlands and the UK and joins Natixis’s Luxembourg-domiciled SICAV. Sebastien Thenard and Brigitte Le Bris will continue to run the investment strategy as lead managers. The fund invests approximately 70 per cent of its assets
The market for non-US companies raising capital in depositary receipt (DR) form remained strong in 2013, with USD10.5bn in DR capital raised.
According to an industry report from Citi, initial public offerings in DR form drove issuance, representing USD5.6bn – or 54 per cent – of the total, as IPOs rebounded during the fourth quarter of 2013.
In 2013, follow-on offerings in DR form represented approximately USD4.9bn – or 46 per cent – of the total, up 135 per cent compared to 2012. The EMEA region was at the forefront of overall capital raising with 17 issuers raising approximately
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