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The Saemor Europe Alpha Fund produced a return of 2.4 per cent in March, according to figures released by Saemor.
Average return over the past three years now stands at 7.5 per cent (annualised).
Performance of the fund was relatively strong in March, with only seven down days for the month. The drivers included short positions in Vopak and Italian banks such as UniCredit and UBI, and long positions in Persimmon and Thales. This was countered by a number of performance bleeders which included short positions in Asos, Serco and Capita and long positions in Rio Tinto and
PortfolioScience, a provider of on-demand risk management systems for hedge funds and hedge fund service providers, has integrated its RiskAPI platform into the MIK Data Warehouse solution.
The completed integration enables hedge funds that use MIK’s data warehouse to access a full suite of multi-asset risk analysis capabilities, seamlessly embedded within a fully flexible, multi-feature data warehouse.
The collaboration with PortfolioScience allows clients of MIK to generate highly customizable and fully integrated suite of risk calculations such as: multi-model Value-at-Risk (VaR), multi-dimensional stress testing, exposure analysis, and option analytics. All calculations are available across funds, portfolios, sub-portfolios, and
The Depository Trust & Clearing Corporation (DTCC) has expressed continued support for legislation that would resolve issues surrounding the indemnification provisions and confidentiality requirements of the Dodd-Frank Act.
During a hearing of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, Chris Childs, chief executive officer, DTCC Data Repository (DDR), reaffirmed DTCC’s support for the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013 (H.R. 742).
The legislation would remove the indemnification provisions from sections 728 and 763 of the law and help ensure regulators continue to have access to a global set of
Cortland Capital Market Services has been appointed by Arrowpoint Asset Management to provide middle office services to Arrowpoint CLO 2013-1.
Denver-based Arrowpoint Asset Management is an investment adviser with approximately USD1.9bn under management as of 31 December 2012.
Arrowpoint uses in-depth fundamental research to identify asymmetric risk/reward opportunities in providing investment advisory services to both separate accounts and investment funds.
Cortland is an experienced CLO middle office service provider. Cortland will provide CLO waterfall modelling, collateral substitution compliance, trustee reconciliation, loan administration, and trade settlement services to Arrowpoint.
“Having the depth and breadth of Cortland’s experienced
The buoyant start to 2013 has seen the demand for UK smaller companies continue as investors’ appetite for risk has increased in-line with growing confidence in the global economic outlook. Co-portfolio managers on the Franklin UK Smaller Companies Fund, Paul Spencer and Richard Bullas believe that small caps can continue to make headway and outperform the broader market as investors search for growth companies in an otherwise low or no growth macro environment.
We believe valuations continue to look attractive. The Franklin UK Smaller Companies Fund benchmark index, the Numis Smaller Companies Index, is currently trading at a discount to
Carne Group, a provider of governance and oversight services to the global funds industry, has appointed Jean de Courrèges as a director within its international team of independent fund directors.
Courrèges brings to Carne more than 30 years in banking and portfolio management in North America, Europe and Asia, including four years as a manager of fund investment operations and strategies with Credit Suisse Asset Management.
Courrèges has worked as trader in forex and fixed income with Banque Indosuez, and while there he developed profitable arbitrage strategies before he became regional treasurer in Singapore. He went on to
Man Group has confirmed with the Financial Conduct Authority (FCA) the change of its regulatory status from being a Full Scope Group to a Limited Licence Group.
As mentioned at Man’s 2012 results presentation, the group held a capital planning buffer of approximately USD300m which it is no longer required to hold by the FCA.
In light of the group’s change in status to a Limited Licence Group, it has also submitted a revised Internal Capital Adequacy Assessment Process (ICAAP) document to the FCA. The ICAAP is part of the mechanism through which regulated firms are set capital requirements
Robert Lance has joined Ascalon Capital Managers as Head of Ascalon in Australia with responsibility to lead and manage its Australian operations.
Mr Lance’s primary responsibility will be to lead the relationships with Ascalon’s boutique partners in Australia. Most recently Mr Lance was the co-founder and CEO of DragonBack Capital based in Hong Kong.
Ascalon Capital Managers chief executive, Chuak Chan, said Mr Lance has more than 25 years in Asia Pacific financial markets building and leading investment banking and asset management teams. “He is a strong and dynamic addition to our team at a time when Ascalon
Liquidnet, the institutional trading network, has seen strong quarterly performance globally.
In Europe, total principal traded was over USD22.6bn, up 64.7 per cent from Q4’12.
In Asia, overall principal traded exceeded USD5bn for the first time, marking a 20 per cent increase over last quarter.
In the US, average daily volume was up by 25 per cent over last quarter, averaging 44 million shares.
“The strong quarter-over-quarter increases we are seeing are reflective of the overall rise in equities investing and the broadening interest among investors in finding unique investment opportunities around the globe,” says Seth
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission have jointly issued final rules and guidelines to require certain regulated entities to establish programmes to address risks of identity theft.
These rules and guidelines implement provisions of the Dodd‑Frank Wall Street Reform and Consumer Protection Act, which amended section 615(e) of the Fair Credit Reporting Act and directed the Commissions to adopt rules requiring entities that are subject to the Commissions’ respective enforcement authorities to address identity theft.
The CFTC’s rules would apply to CFTC-regulated entities that qualify as “financial institutions” or “creditors” under the
