Latest News
NewAlpha Asset Management, the Paris-based global hedge fund seeding group, and the SICAV Emergence have made a joint seed investment in KeyQuant, an investment manager specialising in systematic strategies.
Launched in January 2012 and managed by NewAlpha, the seeding fund dedicated to French-registered hedge fund managers “Emergence Performance Absolue” will invest EUR30m in Key Trends Ucits, a fund recently approved by the Luxemburg-based Commission de Surveillance du Secteur Financier (CSSF).
KeyQuant was founded in 2009 in Paris by Robert Baguenault de Viéville and Raphael Gelrubin who met in 2004 at Man-Fidex, where they jointly developed a trend following
Law firm Walkers has named investment funds and finance specialist Mark Lewis as senior partner.
He will continue to work closely with Walkers’ global investment funds group in addition to taking on the role of senior partner. He becomes just the third individual to hold the title in the course of the firm’s 50 year history.
Lewis (pictured) has more than three decades of post qualification experience in all aspects of corporate and investment funds work. He joined Walkers’ Cayman office as an associate in 1994 and was appointed partner in just over four years. In 1999, he
Jersey Finance has welcomed the signing of a Double Taxation Agreement (DTA) between the authorities in Jersey and Luxembourg.
Geoff Cook (pictured), chief executive of Jersey Finance, says: “The DTA with Luxembourg is a welcome addition. There are strong commercial links between some firms in Jersey and those in Luxembourg and the agreement will therefore help to facilitate further business flows between the two jurisdictions, whilst once again demonstrating our commitment to international standards of information exchange through engagement at a political and regulatory level with countries in the EU.”
The agreement was signed on 17 April in
By Markus Fuchs – Switzerland’s fund and asset management industry is on the brink of major changes not only resulting from the revised Collective Investment Schemes Act, which sets out regulatory requirements for both traditional and alternative funds, but also from changes partly outside the regulatory framework.
Banking services in Switzerland are primarily associated with private banking and wealth management. In contrast, asset management, which for many banks and financial services companies is a core activity, has tended to stay more on the side lines. And yet the importance of asset management for the Swiss financial centre cannot be overestimated.
Total capital invested in the global hedge fund industry expanded during the first quarter at the fastest rate since 2010 as global financial institutions positioned for both growth and volatility across fixed income, equities, currencies and commodities.
Total assets under management increased by USD122bn, the largest increase since Q4 2010, bringing industry capital to a record USD2.375trn, according to the latest HFR Global Hedge Fund Industry Report.
Investors allocated USD15.2bn of net new capital to hedge funds in Q1 2013, marking the highest inflow since 1Q12. Hedge funds have experienced capital inflows in 14 of the 15 quarters.
Stenham Asset Management has launched two funds of hedge funds – Stenham Credit Opportunities and Stenham Healthcare. Stenham Credit Opportunities launched on 1 January 2013 with USD21m and has returned 3.44 per cent since inception.
The fund is a concentrated portfolio of credit managers, targeting eight to 12 per cent annualised returns and allocates across the full spectrum of credit strategies, investing in best-in-class managers in credit long/short, structured credit and distressed debt strategies which are often unavailable to traditional investors. Allocations to individual strategies are managed dynamically as opportunity sets evolve. The fund invests in six to 10 high conviction
The SS&C GlobeOp Forward Redemption Indicator for April 2013 measured 2.95 per cent, down from 4.33 per cent in March.
“April redemption activity decreased from March and remains consistent with historical averages,” says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp’s assets
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.
