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Prudential Fixed Income has been appointed as the collateral manager for the Dryden 30 Senior Loan Fund, a recently closed USD516.4m collateralised loan obligation.
Prudential Fixed Income is the principal public fixed income asset management business of Prudential Financial.
The Dryden 30 Senior Loan Fund is the eighth new CLO to be issued globally under the Dryden brand within the last two years and the 46th cash or synthetic CLO/CDO structure to be managed or sub-advised by either or both of the Prudential Fixed Income teams in its Newark and London offices.
Standard & Poor's ranks Prudential as
Omgeo has partnered with TriOptima and AcadiaSoft to extend straight-through processing (STP) for users of Omgeo ProtoColl, its automated collateral and margin management solution.
In response to global regulations that require firms to reconcile OTC positions on a regular basis, including Dodd-Frank and the European Market Infrastructure Regulation (EMIR), ProtoColl will directly interface with TriOptima’s triResolve, a portfolio reconciliation solution that features over 600 institutions on the service.
By linking ProtoColl to triResolve, users can manage their entire collateral management process in ProtoColl, and then automatically reconcile their over-the-counter (OTC) positions.
As part of the daily counterparty reconciliation,
Equity-focused, event-driven investment manager OVS Capital Management has added Nitin Sharma to its investment team and promoted Manuel Blanco to partner.
Sharma joins OVS as an analyst, having previously worked as an equity analyst at Centaurus Capital, Brevan Howard and Ivaldi Capital. In these roles he focused on bottom-up fundamental stock analysis and equity and event driven situations.
Prior to this he worked at UBS as an analyst in the corporate finance team and from 2004 to 2007 at McKinsey & Company also in the corporate finance team.
Blanco who joined OVS as an analyst in March 2012,
Channel Capital Advisors has launched a high yield catalyst fund, which aims to generate net returns of 10 to 12 per cent with low volatility and little correlation to the major markets.
The fund invests mainly in liquid bonds, equity and CDS, The strategy seeks to identify mispriced corporate debt where a catalyst will drive price realignment and profit realisation.
The fund is managed by Peter Baker, a former high yield portfolio manager at Lazard and SGS, and Frits Lieuw-kie-song, a former high yield portfolio manager at LKS and SGS.
“We are both delighted to be back working
BlueBay Asset Management has launched the BlueBay Total Return Credit Fund, which provides diversified global exposure to sub-investment grade credit through the credit cycle.
“We have developed the product to meet investor demand for a more flexible approach to credit markets that is not benchmark driven, and allows active shifts between areas of the market in a timely fashion,” says Mark Poole, chief investment officer.
The fund aims to achieve a total return of five to 10 per cent per annum over the credit cycle. Sources of return are broad based, with alpha achieved via security selection, asset allocation,
Deutsche Bank’s Autobahn electronic trading business has launched Autobahn Options, offering complete US equity options trading capabilities.
Autobahn Options provides access to major electronic options exchanges, including Chicago Board of Options Exchange, International Securities Exchange, NYSE Arca, Boston Options Exchange, BATS Options and NYSE Amex.
Using the new suite of option-focused strategies, clients can trade single stock options, equity index and ETF options.
With Autobahn Options, clients now have a full suite of investment solutions for electronic options trading, including single-leg and complex multi-leg strategies as part of a suite of algorithms, direct market access, and smart order
The Swiss banking group SYZ & CO is moving into the Latin American institutional markets with the registration in Chile of the OYSTER European Opportunities fund.
The fund is targeting mainly local pension funds, a fast-developing category of investors in the Andean region.
A few years ago the main South American countries established private, funded pension schemes, which enable individuals to contribute to their retirement, so as to supplement the public pay-as-you-go systems. The assets of these pension funds are experiencing strong growth and should reach USD800bn by the end of 2013, of which an estimated USD250bn is potentially
Napier Park Global Capital, an alternative asset management firm with USD6.7bn in assets under management, has completed its trading application infrastructure spinout from Citigroup.
Sky Road, leveraging its solution delivery model that blends trading software expertise and daily operational process support, successfully migrated Napier Park’s existing trading platforms.
Facing a short timeframe to meet the Volcker Rule’s 2014 deadline, Napier Park selected Sky Road as the technology partner for both domain expertise and end-to-end management of its existing trading and operational system infrastructure. To meet these time constraints, the project tapped into key operational support elements available in Sky Road’s
More than 200 people have registered to attend a Guernsey event in London on 5 November which will examine the EU’s Alternative Investment Fund Managers Directive (AIFMD).
The event, AIFMD: Practical aspects of implementation, is being held at the recently refurbished Rosewood London and will see funds experts consider Guernsey’s dual regime approach to AIFMD, as well as other pertinent issues facing clients and advisers, a little over three months since the Directive came into effect.
These topics will include assessing the most appropriate route to market, portfolio and risk management, private placement bilateral discussions and Guernsey as a
LCH.Clearnet, the multi-national clearing house group, has appointed Suneel Bakhshi as its new group chief executive officer.
Subject to final regulatory approval, Bakhshi (pictured) is expected to join the organisation in early 2014, at which point Jacques Aigrain, interim executive chairman will resume his position as non-executive chairman of LCH.Clearnet Group, alongside his role as non-executive director of London Stock Exchange Group (LSEG).
Upon taking up his position, Bakhshi will also become a member of London Stock Exchange Group’s Executive Committee, headed by LSEG CEO Xavier Rolet. LSEG is a 57.8 per cent shareholder in LCH.Clearnet Group.
Jacques
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