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ConvergEx Group, a provider of global brokerage and trading-related services, has appointed Oliver Bailly as a senior vice president and head of its ETF desk.
Miguel Ruiz has joined the firm as a senior vice president on its global portfolio desk.
Based in New York, Bailly and Ruiz will report to James Bossert and Sean Wagner, co-heads of ConvergEx’s global portfolio and ETF execution business.
"Oliver and Miguel are highly respected professionals and bring a wealth of ETF and portfolio expertise to ConvergEx Group," says Craig Lax (pictured), ConvergEx Group executive managing director and head of global
Global Prime Partners is to offer Liquid Group’s Liquid platform to its portfolio of existing European clients as well as all new prime brokerage clients, becoming the exclusive prime brokerage partner of Liquid in Europe.
Global Prime Partners has also selected the Liquid platform to monitor its firm-wide risk exposure to its prime brokerage clients, including hedge funds and other asset managers.
Global Prime Partners will gain access to the Liquid platform’s set of real-time front-office and data management services powered by Liquid’s private cloud, providing clients with technology to help decide what to trade, place the trade,
Hedge funds posted gains in September with the HFRX Global Hedge Fund Index up 0.96 per cent and the HFRX Market Directional Index up 2.23 per cent.
The HFRX Event Driven Index posted a gain of 2.10 per cent for September, led by gains in special situations and activist exposures. The index leads all strategy indices with a YTD gain of 10.87 per cent.
The HFRX Special Situations Index gained 2.96 per cent for the month, the strongest gain since January and leading all sub-strategy indices with a YTD gain of 4.2 per cent. The index had specific
Northern Trust has appointed Bruce Tang to the Northern Trust Alternatives Group hedge fund of funds team as a research analyst and vice president.
Tang joins 26 investment professionals on the Northern Trust Alternatives Group fund of funds team. The group develops and manages alternative investment products, including hedge and private equity funds of funds, for institutional and personal clients. The group’s hedge fund of funds products give investors exposure to multiple strategies and seek competitive returns while containing overall portfolio risk. The Northern Trust Alternatives Group has USD3.6bn in assets under management.
“Northern Trust continues to see
All seven of IndexIQ’s proprietary family of hedge fund replication and alternative beta indexes recorded positive returns in September.
The IQ Hedge Event-Driven Beta Index led the way with a return of 3.04 per cent, followed by IQ Hedge Emerging Markets Beta Index (2.40 per cent), IQ Hedge Market Neutral Beta Index (2.29 per cent) and IQ Hedge Long/Short Beta Index (2.26 per cent).
IQ Hedge Global Macro Beta Index had the smallest return at 0.24 per cent, while IQ Hedge Fixed Income Arbitrage Beta Index and IQ Hedge Composite Beta Index IQHGCOB returned 1.71 per cent and
UBS O’Connor is preparing to open its first Asia-focused hedge fund to external investors later this year reported Bloomberg News, according to two people with knowledge of the matter. The fund commenced trading in August with internal money and is now preparing to open itself to external investors. The fund is managed by John Bradshaw in Singapore and David Perrett in New York.
O’Connor is the strategic single manager hedge fund business within UBS’s Alternative & Quantitative division. It is dedicated to absolute return investment management and currently manages in excess of USD5.7billion across global long/short equities, credit long/short, merger
The Depository Trust & Clearing Corporation (DTCC) has completed its 100% acquisition of Omgeo.
By leveraging both companies’ capabilities under a unified strategy, the acquisition enables DTCC to further expand its global footprint, advance service innovation and reduce risks and costs in post-trade processing. The combination of DTCC and Omgeo will also foster increased collaboration among the buy-side, sell-side and custodian communities. With the addition of Omgeo, DTCC now has offices in 14 countries worldwide.
“Working together with Omgeo under a single integrated global strategy for post-trade processing, DTCC will leverage the strengths and breadth of both organisations to create
Alternative asset manager The Carlyle Group has closed a EUR335m collateralised loan obligation (CLO) fund, the firm’s second new-issue CLO in Europe this year.
Carlyle GMS Euro CLO 2013-2 will invest predominantly in new issue and secondary market European senior secured bank loans. Citibank arranged the transaction.
Carlyle’s first new-issue European CLO in 2013 closed in June at EUR350m. According to S&P Capital IQ LCD, aggregate CLO issuance in 2013 in Europe now stands at approximately EUR4.5bn from 14 deals, including Carlyle GMS Euro CLO 2013-1 and 2013-2. In February 2012, Carlyle made its first CLO purchase in Europe when it
The Credit Suisse Liquid Alternative Beta (LAB) Index was up 1.39% in September with all bar one of the sub strategies recording positive performance for the month.
Dr Jordan Drachman, Head of Alternative Beta Strategies at Credit Suisse, says: "The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished up 1.39% in September. The Event Driven strategy was the strongest performer for the month, finishing up 2.65% in September, and the second-strongest performing strategy year-to-date, returning 6.54% year-to-date in 2013."
The chairmen’s committee of Euronext regulators has issued a letter to ICE and NYSE Euronext indicating that they are "not minded to object" to the proposed merger between the two companies.
With this important milestone achieved, ICE and NYSE Euronext now await final approvals to be issued by national authorities and regulatory bodies in each of the relevant European jurisdictions in order to complete the transaction.
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