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This week Alceda Fund Management SA announced that two US fund managers had joined the Alceda UCITS Platform (AUP). The two managers in question are Miller/Howard Investments, a New York-based equities specialist and Clark Capital Management Group, a Philadelphia-based investment firm.
Miller/Howard has been focusing on high-quality, income-producing equities since 1991 and has allowed the firm to grow to over USD5.3billion in AuM. Commenting on the decision to join the Alceda platform Lowell Miller, President and CIO, said: “Today we’re excited about being able to offer our strategy in a UCITS format for international investors. Given the uncertain economic world,
Mariner Investment Group, an alternative asset manager, has named Richard Rumble, the former head of global emerging market equity prop trading at Goldman Sachs, to run a global emerging market equity portfolio on the Mariner Incubation Platform.
The platform is a multi-strategy mandate Mariner launched in April 2013 to be managed by leading investment talent sourced from the hedge fund industry.
The portfolio will be known as the Mariner INOX GEM. Today’s announcement follows the firm’s recent appointment of Eric Pellicciaro to manage a global macro portfolio on this new platform.
The Mariner Incubation Platform allocates capital to
Stuart Levett and Julia Agafonova have joined CVC Credit Partners as managing director focused on European trading activity and director of fund administration, respectively.
Levett has spent more 16 years in banking with expertise in sourcing, managing and trading of performing, stressed and distressed credit assets. Levett spent eight years with Credit Suisse and its predecessor Donaldson, Lufkin & Jenrette. More recently Levett was a managing director and senior originator and leverage sales at UBS and Cantor Fitzgerald responsible, inter alia, for sourcing impaired and distressed single line assets and portfolios, trading through capital structures and asset classes.
Ireland’s Minister for Jobs, Enterprise and Innovation Richard Bruton has formally launched the Irish Debt Securities Association at the Royal College of Physicians in Dublin.
The IDSA is an industry organisation whose membership includes the corporate administrators, audit firms, legal advisors, listing agents, and other parties involved in the structuring and management of Special Purpose Vehicles (SPVs) in the industry in Ireland.
Around EUR500bn of SPV assets are already resident in Ireland, representing approximately 22 per cent of all European SPV assets. IDSA’s objective is to enhance the environment in Ireland for structured finance and debt securities and
EDHEC-Risk Alternative Indexes with equity-focused strategies all exhibited robust returns in March, characterised by a wide dispersion in terms of dynamic alphas.
The long/short equity strategy (1.57 per cent) performed in line with its modelled dynamic exposure, the equity market neutral strategy (0.26 per cent) showed mildly negative alpha, whereas the event driven strategy (1.52 per cent) produced a very strong idiosyncratic return possibly indicative of market timing effects or hidden risk premia.
The convertible arbitrage strategy (0.83 per cent) extended its winning streak to ten months despite convertible bonds being the single beneficial exposure among its risk
Rich Ricci, currently chief executive of corporate and investment banking (CIB) at Barclays, has decided to retire on 30 June 2013.
He will step down from the bank’s executive committee on 30 April 2013.
Ricci’s (pictured) retirement is just one of a raft of changes to the senior management within corporate and investment banking, wealth and investment management, and Barclays’ business in the Americas which will streamline the leadership in these areas. They follow on from the elimination of the global retail and business banking layer in late 2012, and the integration plans in hand to bring together
Vodafone has reached the milestone of one billion depositary receipts (DRs) outstanding, according to BNY Mellon.
Vodafone currently has the largest number of DRs outstanding of any Western European company and of any telecom company in the world.
BNY Mellon serves as the depositary bank for Vodafone’s American Depositary Receipt (ADR) programme, listed and traded in US dollar-denominated form on the Nasdaq stock exchange under the symbol “VOD”.
The Western European companies with the largest number of DRs outstanding after Vodafone are BP, Nokia, Royal Dutch Shell and GlaxoSmithKline.
Andy Halford, chief financial officer at Vodafone,
The SYZ & CO Group has increased to 64.3% its stake in the holding company that controls Banca Albertini Syz & C SpA, which until now it owned in equal shares with the Albertini Group.
This operation was conducted by taking over the shares of two of Albertini’s Italian shareholders, Giampaolo Gamba and Ernesto Marelli, who are staying on as directors and continuing their present activity within the bank. Alberto Albertini retains the remaining 35.7% of the capital.
Based in Milan and with offices in Rome, Bologna and Reggio Emilia, the Italian private bank Banca Albertini Syz & C SpA was established
Managed futures gained 0.57 per cent in March, according to the Barclay CTA Index compiled by BarclayHedge.
The index is up 1.07 per cent year to date.
“A decoupling of US growth from global markets and aggressive easing by the Bank of Japan provided the impetus for a profitable month,” says Sol Waksman, founder and president of BarclayHedge. “Traders that were long US and Japanese equities and short EUR and JPY against the USD enjoyed good returns."
Seven of Barclay’s eight CTA indices had positive returns in March. The Diversified Traders Index gained 0.71 per cent, Systematic
Alan Howard (pictured), who heads Brevan Howard, is Britain’s richest hedge fund manager, with a personal fortune of GBP1.5 billion, according to the 25th annual Sunday Times Rich List to be published on 21 April.
Ranked joint 48th overall in the 2013 Sunday Times Rich List, Howard retains his place among the country’s 50 richest people.
The wealthiest new entrant to The Sunday Times Hedge Fund Rich List for 2013 is Michael Cohen, worth GBP300m, who was head of Och-Ziff Capital Management until last month.
There are 61 hedge fund managers, worth GBP75m or more, in the list of Britain’s richest 1,000
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