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BlackRock and MarketAxess have formed an alliance to create a unified, open trading solution in the US credit markets.
The alliance between BlackRock’s Aladdin Trading Network (ATN) and electronic credit trading specialist MarketAxess is designed to help reduce liquidity fragmentation and improve pricing across credit markets, while expanding both firms’ open trading efforts.
MarketAxess will run electronic trading and broker dealer operations, which will be connected to BlackRock’s enterprise investment system, Aladdin, which hosts USD14trn in BlackRock and Aladdin client assets. BlackRock will provide buy side leadership, input on strategic direction, and innovations in trade execution capabilities for
Gottex Fund Management’s entire product line posted positive performance for March year to date, according to the firm’s trading statement for Q1 2013.
Total fee-earning assets for the group decreased by 9.0 per cent to USD6.41bn compared to USD7.0bn at 31 December 2012, as a result of client outflows, partly offset by new inflows in Asia of USD150m and the acquisition of a majority interest in Frontier Investment Management (subject to regulatory approval) and positive performance.
Gottex’s second market neutral product is expected to regain its high water mark in Q2 2013 and will then start accruing performance
Funds lawyer Stephen Ross is to join Sidley Austin as a partner and will co-head the firm’s London investment funds group, part of the firm’s global investment funds practice.
Ross (pictured) will join Sidley from his position as group general counsel of London-based Man Group, the world’s second largest hedge fund manager. Before arriving at Man in 2004, Ross was co-head of the private funds group of a Magic Circle law firm.
“Stephen is well-known and respected in asset management circles, and will be a great addition to our existing team of funds lawyers,” says Bruce Gardner, co-head
Prices of depositary receipts (DRs) for Asian technology companies led gains in the first quarter as DR trading rose more than 10 per cent over the end of 2012, according to the BNY Mellon Classic ADR Index Series.
Their appreciation was helped by surging US equity markets in the period, which reached levels not seen since before the financial crisis.
Taiwan’s Himax Technologies and Inotera Memories saw the price of their DRs more than double during the first three months of the year, with China’s WSP, Vipshop and Camelot Information Systems seeing increases by more than half –
Agecroft Partners, a hedge fund consulting and third party marketing firm, has hired hedge fund marketing veteran Jim Sauls as managing director and head of European marketing.
Sauls brings over 20 years of institutional experience marketing hedge funds and derivative products on a global basis.
Before Agecroft Partners Sauls spent 10 years with Calatrava Securities, where he was director of marketing and chief executive of its affiliated commodity pool operator. In these rolls he raised capital from both European and US investors for multiple hedge fund managers and became acquainted with all aspects of hedge fund operations, risk management,
Trishield Capital Management, an investment manager focused on investments in distressed and special situations, has appointed Robert L Harteveldt as chief executive officer.
Harteveldt joins Trishield from the global investment bank Jefferies LLC, where he was co-head of global fixed income, head of fixed income origination and was a member of the firm’s executive committee. Harteveldt joined Jefferies in July 2008. Prior to his recent roles at Jefferies, he ran the company’s leveraged finance sales, trading and capital markets businesses.
At Trishield, Harteveldt will be part of the investment team, managing the firm and driving its growth objectives.
Despite hedge fund assets being at an all-time high and predictions of strong performance from most managers, many believe 2013 will be another challenging year for the industry, according to Rothstein Kass’s annual hedge fund outlook report.
Produced by the Rothstein Kass Institute – the firm’s thought leadership arm’ – Water Water Everywhere’, a survey of 358 hedge funds, reveals that those sentiments are based largely on unbalanced capital inflows that have plagued the industry since 2009.
“Asset flows have emerged as an important theme in each of our studies since 2009, but the issue has clearly taken on
Weeden Investors, the parent company of Weeden & Co – a full-service institutional broker, has completed the acquisition of Saxis Group, a full-service prime brokerage business.
Under the confidential terms of the agreement, Saxis Group becomes a wholly owned subsidiary of Weeden Investors and will continue to be led by its founder and chief executive Sohail Khalid.
Saxis Group is a technology-powered prime brokerage business focused on providing institutional quality services to hedge funds and family offices. With a focus on capital raising and cutting edge technology Saxis Group has created a platform under which its clients can
Citi has launched OpenAi, a range of information delivery and reporting technology to support the delivery of solutions for Citi’s alternative investment clients.
OpenAi will enable alternatives managers around the world to be more efficient, invest in a more effective manner, and help better manage operational risk.
In an environment of expanding regulatory oversight, demand for greater transparency, increasing competition and operational complexity, having access to key portfolio data and exposures across multiple counterparties, fund structures and geographies is critical.
Built on an integrated data management model, OpenAi connects clients’ trading platforms seamlessly to Citi’s processing systems,
The Swiss banking group Syz & Co enjoyed good growth in 2012, which enabled assets under management (AUM) to reach CHF25bn at the end of 2012, an 18 per cent increase.
The CHF3.9bn increase on the previous financial year resulted from a positive trend in the group’s three lines of business – private banking, institutional asset management and Oyster investment funds – and is attributable both to significant inflows of new money and to good investment management results.
Very substantial equity capital and reserves (CHF385m) and a still-cautious attitude enabled the Tier-1 ratio to strengthen further, from 22.9
