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European politicians may want greater transparency but by pushing all equity market order flow onto traditional primary “lit” exchanges, they may well risk harming the pension funds and retail investors they want to protect due to poor trade execution.
This is what asset managers tell TABB Group in new research published on the eve of continued MiFID II trialogue meetings as dark trading volume exceeds 10 per cent.
This new high was achieved as nearly 25 per cent of the asset managers now trade over 30 per cent of their order flow off-exchange – only six per cent
Seven Capital Management has become one of the first French asset management companies to be granted AIFM approval by the AMF board.
Seven has also received the AIFM “Asset Management” passport, allowing it to directly manage a Luxembourg alternative investment fund (SIF) from France.
AIFM approval is intended to strengthen monitoring of companies managing alternative investment funds, and the benefits for Seven Capital Management are two-fold. The first benefit concerns marketing, as it allows alternative investment funds (AIFs) to be distributed to retail and professional clients in France and Europe. The second benefit relates to management, as it
International investment operation Prestige and specialist investment advisor Methexis Capital have launched the Commercial Finance Opportunities (CFO), a fund specialising in secured lending to private companies, in the UK.
The arrival of CFO follows quickly on the announcement on 12 August of the purchase by Prestige Fund Management of a significant equity stake in Methexis Holdings (Isle of Man), the parent company of Methexis Capital Advisors, a UK based FCA regulated investment adviser.
The new fund, structured as a Luxembourg-registered SICAV-SIF, invests in a diversified portfolio consisting of short-term commercial and industrial Account Receivables and is currently offered to
By Advent Software – Although the financial markets have largely recovered from the crisis of 2008, investment managers worldwide are still feeling the fallout in one very important regard: the unprecedented wave of reform that has washed over the shores on both sides of the Atlantic.
It’s a confounding “alphabet soup” of regulation: AIFMD, FATCA, MIFID II, RDR II, UCITS, EMIR – the acronyms go on and on. Five years in the making, many of these new or revised regulations, combined with the provisions of the US DoddFrank act, have begun to take effect or will soon.
Meanwhile, in the UK,
Eurex Clearing has welcomed DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt/Main, as a new member of EurexOTC Clear for Interest Rate Swaps (IRS).
The number of clearing members on EurexOTC Clear increases to 15. In addition to serving major group companies and affiliates, DZ BANK AG will offer its services to other interested clients as well.
“Participation in EurexOTC Clear is a strategic decision for DZ BANK. With Eurex Clearing’s services, we can also expand and enhance our range of services as a clearing broker for banks and institutional clients,” says Lars Hille, member of the board of managing
Bell Rock has appointed Evan Judd to its independent director services team, as it expands its fund governance practice for investment funds.
Judd’s expertise will complement those of other members of the team, who have an extensive track record in the asset management industry providing non-executive independent director services to hedge funds.
David Lloyd, managing director of Bell Rock, says: “We are very excited about Evan joining our team given his senior level asset management and operational risk expertise. Bell Rock is committed to the notion that fund governance demands the highest calibre independent directors who can add
The ALTIN fund of hedge funds portfolio has generated positive returns over the first half of 2013 as underlying managers took advantage of opportunities in the markets and navigated through periods of high volatility.
The diversification across multiple strategies and managers proved attractive once again; furthermore there is a strong commitment to finding new talents and allocating capital to more risk-seeking strategies as well as niche investments with longer-term investment horizons and higher expected returns.
All 16 allocation strategies recorded positive performance in the period with event-driven providing the strongest returns at 19.3 per cent closely followed by equity
Analysts at London-based Kepler Partners, whose research on UCITS funds is presented on the website Absolutehedge.com, have concluded that the UCITS version of Hugh Hendry’s Eclectica Absolute Macro fund has been a bit of a mixed bag.
Having only produced one strong period of performance (2011) since the UCITS fund launched in 2009, Kepler Partners awarded the fund three stars out of five. The problem seems to be the fund’s ability to generate all weather returns. Although the offshore hedge fund has generated 8.4 per cent annualised returns since 2002, helped by higher volatility, the volatility in the UCITS fund
Driehaus Capital Management has launched the Driehaus Event Driven Fund, a liquid alternative offering which seeks low correlations to major asset classes while providing lower volatility than the S&P 500 Index with risk-adjusted returns.
The fund will be managed by KC Nelson (pictured), who leads the Driehaus long/short credit team. Nelson and his team currently manage distinct event-driven trading strategies in their long/short credit funds.
Nelson says: "We have found that event-driven trades often exist because of the complexity of the capital structure, the non-traditional nature of the investment opportunities, or the unwillingness of investors to participate in
AllenbridgeEpic Investment Advisers has appointed Benedicte Rabier as a sector specialist.
Rabier has over 12 years’ experience within the hedge fund industry and more generally on alternative investments. She has worked primarily on the equity derivatives desks of investments banks, such as Societe Generale Asset Management (Paris), Natixis (New York), Lehman Brothers (New York) and Barclays (New York and London). She ran fund derivatives trading books and held funds positions as collateral under the structured products she traded. Her clients were mainly funds of hedge funds and family offices.
During her career, Rabier covered hedge funds and mutual
