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Trade Settlement Inc (TSI), a provider of automated loan settlement technology, has launched a new generation primary loan management system which provides fast, efficient, secure and fully-electronic closings for the growing primary loan business.
The LSTA’s statistics currently show corporations routinely borrowing amounts in excess of USD5bn from multiple lenders often to fund acquisitions.
The new dashboard has a 360 view of all allocations across all lenders in the deal. Managers are presented with real-time figures for total closed today, total to date, and total unsettled which can be easily exported to Excel and emailed directly from the platform.
US institutional investor interest is turning to alternative mutual funds and away from hedge funds, according to the fifth annual alternative investment survey carried out by Morningstar and Barron’s.
"Alternative mutual funds and ETFs have grown in breadth and quality in recent years," says Nadia Papagiannis, director of alternative funds research for Morningstar. "Institutional investors are starting to see alternative mutual funds as substitutes for hedge funds, and more financial advisors are incorporating these liquid, transparent investments into their client portfolios."
Morningstar and Barron’s conducted the survey in March 2013 and received responses from 235 institutions and 471
The focus on industry best practices within the hedge fund industry, driven largely by regulation, has meant that today’s manager has to focus on the compliance function more than ever.
Industry regulators, and indeed institutional investors who now dominate the hedge fund market, expect to see proper internal controls and processes in place when assessing a manager. It’s no longer acceptable for any manager to focus purely on fund performance and raising capital; compliance is just as important.
Towards the end of 2012 Bloomberg hosted its highly successful Hedge Fund Start-up Conference in London. One of those panels focused on
After edging down in April, amid a sharp mid-month correction in gold prices, Scotiabank’s Commodity Price Index rebounded sharply in May, climbing 2.3 per cent month-over-month.
"Scotiabank’s Commodity Price Index has inched up this year and is now 1.9 per cent above a year earlier," says Patricia Mohr, Scotiabank’s vice president of economics and commodity market specialist. "The decline in commodity prices from the April 2011 near-term peak – just prior to the negative economic fallout from excessive euro zone sovereign debt – has narrowed to -14.2 per cent from -19.9 per cent in late 2012."
However global commodity
Netherlands-based hedge fund Saemor Capital has appointed Mary Kahng to its investor relations team.
Kahng will be responsible for developing Saemor’s relationships with institutional investors, including pension funds, funds-of-funds, insurance companies, not-for-profits, family offices and wealth managers.
She has 16 years of global institutional investment experience, most recently at ING Investment Management in the Netherlands where she was a director and product specialist for alternative investments, servicing European investors.
Previous, Kahng worked in the US for 12 years at Ivy Asset management, a hedge fund-of-funds, where she serviced consultants, pensions, insurance companies and foundations. Prior to that,
Hong Kong Exchanges and Clearing (HKEx), The London Metal Exchange (LME) and Bank of China (BOC) have signed a memorandum of understanding (MOU) on cooperation and the exchange of information regarding the clearing of renminbi (RMB) commodity products.
The MOU was signed by HKEx’s head of global clearing Gerald Greiner, HKEx’s Co-head of global markets and LME chief executive Martin Abbott (pictured) and BOC’s risk managing director Shi Wei. The signing ceremony was held in Hong Kong and was witnessed by HKEx chief executive Charles Li and BOC executive vice president Chen Siqing.
HKEx acquired the LME
Mirabaud Asset Management has appointed Nicolas Cremieux to its Paris-based convertible bonds team.
Cremieux (pictured) was previously senior manager of international convertible bonds for Dexia Asset Management.
Cremieux, who takes up his new position with Mirabaud on 19 August, will begin working in Paris with Renaud Martin, head of convertible bond management for Mirabaud Asset Management.
Cremieux will be the managing analyst on international convertible bonds, supporting Martin in the management of the Mirabaud Convertible Bonds Europe fund and directly participating in the launch of a global convertible bond fund currently being prepared by Mirabaud Asset Management.
INDOS Financial has submitted an application to the Financial Conduct Authority for authorisation as a depositary. INDOS plans to provide independent depositary oversight services to hedge fund managers seeking to comply with the long-awaited Alternative Investment Fund Managers Directive (AIFMD) which becomes law on 22 July 2013.
Under the AIFMD UK hedge fund managers marketing offshore hedge funds to European investors are required to comply with the so-called “depositary-lite” regime. These new rules require funds to appoint a firm such as INDOS to perform oversight over fund valuation, subscriptions and redemptions, compliance with laws, regulations and investment guidelines.
Bill Prew
Lyxor Asset Management this week announced the launch of the Lyxor/Tiedemann Arbitrage Fund, a UCITS-compliant fund designed to give investors access to a pure merger arbitrage strategy, in partnership with hedge fund firm TIG Advisors.
The fund’s investment strategy is to play arbitrage deals from both a long and a short perspective by investing in securities that are subject to special events in North America, Europe, Australia, South America and Asia. The investment team focuses on 0-30 day events within the merger arbitrage process and looks for wide spreads and complex deal opportunities relying on TIG’s deep research capabilities.
Ian McVeigh (pictured), co-manager of the Jupiter UK Growth Fund comments on recent developments in the UK banking sector…
We welcome the decision to push forward the return of Lloyds Banking Group to full private ownership. Lloyds Banking Group’s confident response to the Prudential Regulation Authority report on its capital position reflects a view we have had of the bank for some time, namely that its stabilisation had far outrun the alarmist rhetoric of many self-interested critics.
In analysing the effect of the various stress tests, it has been clear to us that the circumstances in which Lloyds would need
