Latest News
EDHEC-Risk Institute disagrees with The European Fund and Asset Management Association's (EFAMA) assertion that the European Securities and Markets Authority (ESMA) exceeded its powers and mandate by issuing quasi-regulation on topics not previously regulated at EU level.
The representative body for the European investment management industry specifically targeted the ESMA guidelines on ETFs and other UCITS issues and its provisions in terms of securities lending, collateral management, or the use of financial indices.
EDHEC-Risk Institute, which, like EFAMA, has contributed to the consultation process that led to these guidelines, says it takes exception to this language and interpretation and wishes
All seven of IndexIQ’s proprietary family of hedge fund replication and alternative beta indices were positive in October, with the IQ Hedge Event-Driven Beta Index leading the way with a return of 3.11 per cent.
The IQ Hedge Long/Short Beta Index (1.58 per cent), IQ Hedge Composite Beta Index (1.44 per cent), IQ Hedge Fixed Income Arbitrage Beta Index (1.31 per cent) and IQ Hedge Emerging Markets Beta Index (1.30 per cent) all produced solid reruns.
The IQ Hedge Global Macro Beta Index (0.93 per cent) and the IQ Hedge Market Neutral Beta Index (0.41 per cent) brought up
Derivatives trading and clearing activities on the Singapore Exchange (SGX) grew in October from a year earlier while securities trading declined.
Record-high open interest was achieved in the derivatives market during the month.
The value of securities traded fell six per cent year-on-year to USD24.7bn, while the daily average value of securities traded declined six per cent to USD1.1bn.
A total of 48 bonds raising USD16.5bn were listed. The biggest debt listed was Origin Energy Finance’s EUR800m bond.
Derivatives volume rose 20 per cent year-on-year to 8.5 million contracts.
Open interest at end-October rose 62 per
The US Commodity Futures Trading Commission (CFTC) has approved the application of Chicago Mercantile Exchange (CME) for temporary registration as a swap execution facility (SEF).
CME SEF is an operating division of the Chicago Mercantile Exchange Inc, a Delaware corporation and a wholly-owned subsidiary of CME Group, a publicly traded company.
A SEF is a category of CFTC registered entities created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to provide greater pre-trade and post-trade transparency to the swaps market.
CME SEF will be required, as will all future temporarily and fully registered SEFs,
Ignis Asset Management and Tyndall Investment Management have formed a strategic alliance in Australia.
Under the terms of the agreement, Ignis will sub-advise investment strategies exclusively with Tyndall AM into the institutional market in Australia.
Tyndall AM, based in Sydney, manages approximately GBP13.9bn of assets on behalf of institutional, insurance and private wealth clients in Australia. It is part of Nikko AM, an independent fund manager in Asia headquartered in Japan.
Initially, Tyndall AM will offer Ignis’ Absolute Return Government Bond strategy and Liability Driven Investment (LDI) solutions to institutional investors. Tyndall AM may also consider other Ignis
Jersey’s government has received assurances from the French Finance Ministry that the island will be removed from France’s list of uncooperative jurisdictions in due course.
Officials from Jersey met with senior officials from France’s Ministry of Finance last week and were told that Jersey’s significant efforts to ensure tax information requests are responded to swiftly and effectively are being recognised by French officials.
Jersey Finance chief executive Geoff Cook (pictured) says: “Jersey’s government has given this issue the highest priority, and their most recent meeting with French officials was clearly a constructive one. The focus now is on ensuring
ICAP Futures and Options, the financial futures business of ICAP plc, has selected Traiana’s Harmony Network for its client connectivity layer.
This now brings the total number of futures commission merchants (FCMs) on the Harmony Network for Exchange Traded Derivatives (ETDs) to 13.
Gary Pettit, executive managing director of ICAP Futures and Options, says: “As ICAP’s global exchange traded derivative network continues to grow we have selected Traiana to provide STP connectivity direct from our execution platform in order to best facilitate the expanding requirements of our customers. We look forward to developing this relationship into other technology areas
eVestment, a provider of institutional investment data and analytics, has launched the first offerings in a revamped suite of solutions designed to analyse and report on both traditional and alternative investment strategies.
This includes marketing, sales, strategy, product and investment professionals within asset management firms and hedge funds, as well as plan sponsors, consultants and other buy-side institutional investors.
This suite of cloud-based solutions will include four distinct tiers:
eVestment Spotlight – for the user who wants easy access to the most critical data in an intuitive package and with a lower cost. Customizable user dashboards and seamless publishing
October got off to a tentative start with investors focused on the US debt ceiling impasse, according to Anthony Lawler, portfolio manager at GAM.
This issue was temporarily resolved by mid-month and markets broadly rallied from there, with equities, credit and bonds all moving higher. Many equity hedge and event driven managers reaped the rewards from keeping their gross exposure levels high.
“It was the right trade for equity hedge and event driven managers to have stayed fully invested, believing that the debt ceiling issue would be resolved or deferred, while corporate activities, such as stock buy-backs, continue,” says
Timothy A Spangler has joined Sidley Austin in Los Angeles as a partner and member of Sidley’s global investment funds, advisers and derivatives practice.
Spangler brings extensive experience in advising clients on an array of investment vehicles and related securities and regulatory issues.
Spangler served as chair of the investment funds group at his prior firm. He has worked on a wide range of funds, including hedge funds, private equity funds, venture capital funds and funds of funds. He also has experience with funds investing in particular countries or sectors across numerous jurisdictions including the US, UK, Cayman Islands,
Special Reports
FeatureD
- Insight
