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Millennium Trust Company is to be a recommended custodian for investors and offering groups using the FNEX.com Private Securities Marketplace.
Investors on the FNEX platform have the ability to source, review and invest in a variety of alternative investments and will be able to select Millennium Trust as their custodian of choice.
FNEX is an innovative web-based platform that provides accredited investors, investment advisors, family offices and institutions access to private investment opportunities offered by investment banks and funds across the United States. The powerful distribution platform lists offerings and provides investors with the necessary tools to educate themselves on
Funds under management (FUM) at Man Group totalled USD52.5 billion as at 30 September 2013 – up from USD52.0 billion ((30 June 2013) – according to the company’s latest interim management statement.
Net inflows in the quarter were USD0.7 billion, comprising sales of USD4.1 billion and redemptions of USD3.4 billion with net inflows into GLG alternatives and long only funds being partially offset by net outflows from AHL and FRM funds
Overall investment movement of negative USD0.1 billion in the quarter.
The majority of GLG alternative strategies had positive performance in the quarter, adding USD0.3 billion to FUM. GLG long
STOXX Limited has expanded the STOXX GC Pooling Index family by adding 14 new indices to cover the full money market yield curve up to twelve months.
An additional funding rate has also been introduced that measures secured interbank funding rates and volumes in the euro zone at the short end of the money market curve.
The STOXX GC Pooling Indices provide a representation of the secured euro funding transactions taking place on the Eurex Repo GC Pooling Market, and are designed to provide transparent, rules-based alternatives to unsecured interbank benchmarks such as LIBOR and EURIBOR/EONIA.
Furthermore, the STOXX GC
On Monday 14 October, the Channel Islands Stock Exchange (CISX) announced to members that certain of its historic activities have been under investigation by the Guernsey Financial Services Commission (GFSC).
Jon Moulton, Chairman of the CISX, said that the investigations do not relate to current matters but are ongoing and that the CISX has decided not to accept new listings at the current time while it establishes an alternative corporate structure to segregate the historic issues from the operating business.
The CISX has published an operational statement which provided more detail on what this means in practice for current and
Axioma has entered the multi-asset class risk space with the introduction of Axioma Risk, a next-generation risk-management platform for risk officers, portfolio managers, asset owners and consultants.
Sebastian Ceria, PhD, Axioma’s founder and Chief Executive Officer, says: “This is a watershed initiative for Axioma. We built this company on a foundation of innovation and superior customer service. We leveraged these attributes to create and deliver portfolio-construction tools and risk models that set new industry standards for performance and flexibility in the equities space. We are now leveraging those same attributes to support Axioma’s ambitious expansion into the multi-asset class risk
Hedge funds posted gains through mid-month with the HFRX Global Hedge Fund Index posting a gain of 0.50 per cent, including a gain of 0.39 per cent on 10 October, the largest one-day gain in almost 2 years, while the HFRX Market Directional Index rose 1.07 per cent.
HFRX Equity Hedge Index posted a gain of 0.97 per cent through mid-October, 2013, with gains across Growth, Value and Market Neutral exposures. HFRX Fundamental Value Index rose 1.01 per cent with gains concentrated in European and US large-cap equity, the Index posted a one day gain of 0.85 per cent on 10 October,
Custom House Global Fund Services has launched Custom House Gateway, a web portal that connects fund servicing with solutions across the middle and back office, designed for US alternative investment managers.
“The US hedge fund industry is growing fast globally, adding USD150 billion in assets under management in 2013. At the same time, fund managers face unprecedented pressure on costs from regulatory compliance, comprehensive due diligence, and other operational expenses. We have made the strategic decision to expand our operations in the US and Custom House Gateway is a new offering devised for US asset managers of all sizes, but
Nikko Asset Management (Nikko AM) has acquired the Asia-Pacific investment manager Treasury Asia Asset Management Limited (TAAM).
TAAM’s Singapore and Sydney-based team of eight highly experienced and successful investment professionals significantly enhances Nikko AM’s ability to provide institutional-quality Asian equity products to its clients and prospects in markets worldwide.
“We couldn’t be more pleased to welcome Peter Sartori and his team to our company,” says Takumi Shibata, Executive Chairman of Tokyo-based Nikko Asset Management.
“This acquisition brings us sophisticated Asian equity strategies, which are gaining well-deserved traction among investors around the world,” says Charles Beazley, President and CEO of Nikko
The US Commodity Futures Trading Commission (CFTC) has issued an Order against JPMorgan Chase Bank bringing and settling charges for employing a manipulative device in the trading of credit default swaps (CDS).
The CDS trading was in violation of the new Dodd-Frank prohibition against manipulative conduct.
As set forth in the CFTC’s Order, by selling a staggering volume of these swaps in a concentrated period, the Bank, acting through its traders, recklessly disregarded the fundamental precept on which market participants rely, that prices are established based on legitimate forces of supply and demand. As a result, after a thorough 17-month
Schroders Chief Economist, Keith Wade (pictured), comments on the US Congress decision to approve federal spending and lift the debt ceiling after 16 days of government shutdown, and the impact that this could have on markets…
After 16 days of government shutdown, Congress has approved a bill to fund federal spending and lift the debt ceiling. The measures agreed will keep federal government running until 15th January and lift the debt ceiling until 7th February. There are also instructions for budget negotiations to conclude by 13th December. The risk of default by the "greatest” nation (borrower) on earth has been
