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Man Group’s funds under management (FUM) totalled USD57bn at 31 December 2012, down from USD58.4bn in December 2011, according to the group’s year end results for 2012.
Man group saw sales of USD12.8bn, redemptions of USD20.1bn, FRM acquisition USD8.3bn, investment movement of USD1.3bn, FX translation effects of -USD0.3bn and other movements, and principally guaranteed product de-gears, of -USD3.4bn, during last year.
Adjusted profit before tax (PBT) totalled USD278m, comprising adjusted net management fee PBT of USD223m and net performance fee PBT of USD55m.
The Group has also reported a further impairment of GLG goodwill (USD746m) in addition to the impairment
The founding partners of Orical have launched Reliance Hub, which assists private fund managers and other companies in maintaining compliance and operational programmes that represent industry best practices.
Romulad Beneche, formerly of Citigroup Fund Services, has been hired as a director of Reliance Hub operations.
"We are dedicated to clients who apply the highest business and ethical standards to their operations and who wish to raise the bar when it comes to compliance," says Beneche. “All of our professionals have extensive experience working within the senior management of large private fund managers, which enables Reliance Hub to provide business-savvy solutions.
Fitch Ratings expects growth in assets under management to be higher in the next few years in emerging Asia (China, Indonesia, Malaysia and Thailand) than in more mature markets such as Singapore, Hong Kong, Taiwan and Korea.
The Asian region has a large, growing middle class population with a low penetration of managed products at 5 per cent of total financial assets on average compared with 15 per cent in western countries.
During the past few years, growth has been higher in Indonesia, Malaysia and Thailand and in the institutional segment compared with Singapore, Hong Kong, Taiwan and Korea. Unlike
Mirabaud Asset Management has launched The Mirabaud – Dynamic Allocation fund offering flexible management on all traditional asset classes.
The fund aims to achieve long-term capital growth through an opportunistic investment approach with moderate correlation to traditional financial markets. It also seeks to protect against market losses through its reactivity and flexibility in tactical choices.
“An appropriate dynamic and flexible allocation enables opportunistic investments in the most attractive asset classes and quick decisions when unanticipated events occur,” says Pierre Pinel (pictured), chief investment officer for asset allocation products and balanced mandates at Mirabaud Asset Management and manager of the
Fortress Investment Group has reported a 20 per cent increase in base quarterly dividend to USD0.06 per dividend paying share, effective for the fourth quarter of 2012 and full year 2013.
Fortress also repurchased 51.3 million dividend paying shares at a price of USD3.50 per share, representing approximately 10 per cent of dividend-paying shares outstanding.
Assets under management totalled USD53.4bn as of 31 December 2012, an increase of four per cent from the third quarter of 2012 and 22 per cent from the fourth quarter of 2011
GAAP net income totalled USD222m and USD219m for the fourth quarter and year
Triton Capital Advisors, a provider of alternative investment services, has opened an office in Boston, Massachusetts.
Jeff Garcia, a veteran of the alternative investment industry, will helm the branch. Garcia joins Triton as vice president.
“Because of the ever-growing demand for alternative investments, and with managed futures as one of the leading choices, we felt this was an opportunistic time to expand our message and expertise,” says Richard Singer, managing director and chief investment officer of Triton. “The addition of a talent like Jeff Garcia gives us the ability to expand our operation to a broader segment of the investment
Simple Alternatives, along with Ineichen Research and Management, has published a research paper authored by Alexander Ineichen titled "Hedge Fund Performance".
In this research, Ineichen examines recent hedge fund performance and discusses concepts related to absolute returns investing and active risk management.
"Alexander Ineichen is a global thought leader focused on risk management, and absolute returns research," says James K Dilworth, chef executive and founder of Simple Alternatives. "We are very pleased to partner with Ineichen Research and Management on important research pertaining to our industry."
Ineichen (pictured) says: "Investing in a long-only fashion is like driving up a hill
FTSE Group has launched the FTSE Implied Volatility Index Series (IVI), an end-of-day index series that measures the implied volatility of the FTSE 100 and FTSE MIB indices.
The new indices provide an estimate of the market’s volatility expectations on the underlying index between now and the index options’ expiration, enabling investors to make better informed risk management and trading decisions.
Peter Gunthorp, managing director, research and analytics, FTSE Group, says: “We are delighted to announce the launch of the FTSE Implied Volatility Index Series, which provides investors with an indicator of market sentiment and potential future volatility. The
Chris Wyllie (pictured), CIO, and William Beverley, head of macroeconomic research, at Iveagh, offer their investment commentary in the wake of Italy’s election [non]result…
Back in January we identified the elections in Italy as a short term potential smoking gun for markets, which might derail progress made since the ECB stepped in to protect the euro in 2012. In addition, the near term risks of a market correction continue to rise in 2013 after the best January rally in world equity markets since 1994, with signs of investor complacency emerging, and profit forecasts also under pressure.
Nevertheless, our macro
A federal grand jury sitting in New Haven has returned a 19-count indictment charging three executives of New Stream Capital, a Ridgefield, Connecticut hedge fund, with conspiracy, securities fraud, and wire fraud offences.
David Bryson, 44, of Ridgefield, Connecticut; Bart Gutekunst, 61, of Weston, Connecticut; and Richard Pereira, 40, of Ridgefield, have surrendered the FBI in New Haven.
Bryson and Gutekunst were managing partners and principals at New Stream Capital, and Pereira was the chief financial officer.
The defendants appeared before US Magistrate Judge Donna F Martinez in Hartford, Connecticut, and pleaded not guilty to the charges. Bryson and Gutekunst
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