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After launching the Ashburton Africa Equity Opportunities fund last month, Jersey-based asset management firm Ashburton has rolled out its second UCITS fund reported Citywire Global this week. The Luxembourg-domiciled Ashburton Global New Energy fund will be managed by Richard Robinson, with Alan le Maistre acting as deputy manager. The fund will target long-term growth opportunities in companies operating in oil, gas, coal and renewable energy sources. Three quarters of its assets will be invested in listed companies with up to 10 per cent being allocated to unlisted companies. The fund is benchmarked against the MSCI Energy index.
UBS Global Asset
Ignis Asset Management’s Absolute Return Government Bond Fund has surpassed EUR1bn in assets under management.
The fund, which was launched on 31 March 2011, has experienced a steady growth in assets under management that can be broadly attributed to four key factors (i) consistent positive returns in both positive and negative market conditions (ii) the low level of risk taken to achieve its returns (iii) the fund’s low correlation to other assets, including government bonds (iv) strong demand from institutions who are increasingly concerned about the uncertain direction of markets, bond markets in particular.
In a little over
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for May 2013 measured 0.77 per cent.
Hedge fund flows, meanwhile, as measured by the SS&C GlobeOp Capital Movement Index, advanced 1.17 per cent in June.
“Net inflows increased for the month of June, with subscriptions outpacing redemptions two to one," says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Capital Movement Index represents the monthly net of hedge fund subscriptions and redemptions administered by SS&C GlobeOp on the GlobeOp platform. This monthly net is divided by the total assets under administration
M L Ballew III and T Doug Dale Jr, principals of Security Ballew Wealth Management, have formed Consilium Capital to manage a global macro investment strategy for accredited investors.
The Consilium strategy centres on a high level assessment of the global economy, which serves as the basis of an adaptive investment process. This process was developed to capitalise on undervalued assets and take defensive positions in overvalued assets in accordance with the investment committee’s model.
“Our investment management approach emphasises the protection of investor capital as a goal of equal importance to strong total returns,” says Ballew. “We
Inès de Dinechin has been appointed as chairman of Lyxor Asset Management’s managing board, effective 10 June 2013.
This appointment follows current chairman Alain Dubois’s decision to leave Lyxor in the near future, in order to pursue another professional challenge abroad.
Other than this appointment, Lyxor’s governance and its operational model are not expected to change. In particular, all Lyxor funds’ investment decisions and processes will remain the responsibility of the chief investment officers, Nicolas Gaussel and Lionel Erdely, who are still reporting directly to de Dinechin.
Traiana, a provider of post-trade and risk solutions, has expanded Harmony ClientLink’s cross-asset capability to the equities and fixed income markets with a number of brokers.
Harmony ClientLink offers the cross-asset straight through processing (STP) and allocation platform for banks, brokers and buy-side firms. Harmony ClientLink provides executing brokers and prime/clearing brokers with a complete client servicing solution. This will automate allocation, confirmation and matching processes and has more than 1,000 client connections across FX, exchange traded derivatives, equity swaps, cash equities and fixed income.
As more and more buy-side firms are standardizing their processes using protocols such
Direct Lending funds are becoming an attractive “fixed income alternative” asset class for European institutional investors. The breadth of strategies ranges from high risk/high return “special situations” through to opportunistic strategies and what is referred to as the mainstream direct lending market.
Yields across all three range from six per cent to 15 per cent. As for where DL funds sit within the overall risk category for investors, they straddle syndicated loans (which typically yield between four and eight per cent) and corporate mezzanine (which yields 14 to 17 per cent).
At a breakfast briefing in its London office, Intermediate
Alternative asset manager Mariner Investment Group has named Peter van Dooijeweert, the former head of equity relative value trading at Citigroup, to run a global equity volatility portfolio on the Mariner Incubation Platform, a multi-strategy mandate Mariner launched in April 2013.
The portfolio will be known as the Mariner Equity Volatility Strategy. This appointment follows the firm’s recent appointments of Richard Rumble (pictured) to manage a global emerging market equity portfolio and Eric Pellicciaro to manage a global macro portfolio on this new platform.
The Mariner Equity Volatility Strategy portfolio will employ a volatility trading approach that capitalises
Horizon Cash Management, an investment adviser specialising in active cash management solutions for the alternative investment industry, has launched the Emerging Manager Fund Cash Account.
Horizon created the account to provide small and emerging fund managers with a safe alternative for cash balances that are in excess of margin requirements.
The Emerging Manager Fund Cash Account is unique because the typical separate institutional cash management account requires a minimum balance of USD10m or more, especially one that requires custody. Horizon’s new account requires just USD1m for cash balances that are in excess of margin requirements.
Horizon recognised
Hedge funds witnessed the fifth consecutive month of net allocations in May, despite global markets experiencing mixed returns.
According to Eurekahedge, May saw the seventh consecutive month of positive returns, posting year-to-date returns of 3.89 per cent. The total asset flows for 2013 currently stand at USD50 billion with total size of the industry pegged at USD1.87 trillion.
Despite the MSCI World Index down by 0.45 per cent in May, the Eurekahedge Hedge Fund Index was up 0.20 per cent.
The month of May began on a good note with a positive flow of economic data emanating from the US, resulting in rallies
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