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Franklin Resources, which operates as Franklin Templeton Investments, has completed the acquisition of a majority stake in fund of hedge funds manager K2 Advisors Holdings LLC.
The proceeds of this transaction by Franklin Templeton will be used by K2 to purchase all of the equity currently held by TA Associates and to retire all of K2’s debt obligations. The current management of K2 has not sold any of its interests and has not received any up-front consideration in this transaction. Franklin Templeton will acquire the remainder of K2 over a multi-year period.
William Yun, CFA, executive vice president, Franklin
TT International, one of Europe’s oldest hedge fund management companies, has teamed up with Deutsche Bank to launch the UCITS-compliant DB Platinum TT International Fund.
The fund is managed by Tim Tacchi, who founded the firm way back in 1988. It follows a global macro mandate, combining investments in a portfolio of largely European equities with a macro overlay of fixed income securities and FX positions.
Tarun Nagpal, Deutsche Bank’s European Head of Fund Derivatives, commented that Tacchi’s twenty years’ plus experience managing global macro strategies was an “invaluable addition to our UCITS platform that aims to provide UCITS strategies
Due to the damage caused by Hurricane Sandy, the staff of the Commodity Futures Trading Commission’s Division of Clearing and Risk has issued a no-action letter to temporarily delay the compliance date for the Commission’s Part 22 rules, which set forth segregation requirements for cleared swaps and associated cleared swaps customer collateral, from 8 November, 2012 to 13 November, 2012.
The Division’s temporary delay of the compliance date for Part 22 regulations is made in light of the necessity for Futures Commission Merchants, many of which have operational personnel focused on business continuity/disaster recovery efforts, to finalise testing for
MarketAxess Holdings has agreed to acquire Xtrakter Limited, a provider of regulatory transaction reporting, financial market data and trade matching services to the European securities markets for GBP26 million. Xtrakter is a wholly owned subsidiary of Euroclear SA/NV.
Rick McVey, Chief Executive Officer of MarketAxess, says: “Xtrakter is a strong fit with our business and provides MarketAxess with an expanded set of services that are highly complementary to our core strengths in electronic trading, market data and straight-through processing solutions for the global credit markets. Xtrakter is a leading provider of regulatory trade reporting to the UK Financial Services Authority
The latest statistics released by the Malta Financial Services Authority show that the number of funds domiciled in Malta have continued to register steady growth.
In fact, over the first six months of 2012, the industry has registered a four per cent increase in the number of funds authorised by the Malta Financial Services Authority. the first half of 2012. This increase compares very strongly with that registered in other EU jurisdictions which in some cases have experienced negative growth whilst in others, the growth rates have been limited to a maximum of 2% for the same period under review.
Misys has launched new generation of collaborative risk management solutions, under the name of Misys Global Risk (MGR).
The solution’s best-in-class risk, regulatory and workflow modules collaborate with a firm’s in-house or third-party systems in a single enterprise risk technology environment for the first time.
With MGR, banks and financial institutions can now obtain a holistic view of the enterprise risk exposure at any point in time, via an intuitive, interactive dashboard that brings on-demand transparency to limit, market, credit and liquidity risk across trading and banking books. The new solution also enables firms to coordinate, control and manage
Total monthly volume in futures on the CBOE Volatility Index (VIX) reached an all-time high for a second consecutive month in October 2012.
The record trading activity in VIX futures also drove total volume at CFE to a new all-time high.
Total monthly trading activity in VIX futures during October was a new all-time high of 2,443,878 contracts, a gain of 172 per cent from the 897,966 contracts traded in October 2011 and up two per cent from the 2,400,552 contracts during September, which had been the previous record.
In October, average daily volume (ADV) in VIX futures totalled
Deutsche Bank has launched an app-based fund solution that provides access to its fund administration services as well as award-winning research and analytical tools in one place via the Bank’s Autobahn App Market.
The Autobahn App Market not only consolidates hedge funds, fund of funds and private equity applications in a single sign-on, intuitive environment, it also gives alternative investment managers access to the full resources of Deutsche Bank, including industry research, analytic tools and customised reporting included in the existing package.
The Autobahn App Market is a web-based distribution channel that to date contains more than 150 Apps. The
Strate (The Licensed Central Securities Depository for electronic settlement of Financial Instruments in South Africa) is to replace its current bond market system UNEXcor with the Market Infrastructure solution from the TCS BaNCS product suite.
The solution will provide Strate with the ability to adopt multiple BIS settlement models along with a flexible framework to cater to market-specific requirements designed to maximize settlement efficiency.
In line with global trends, the solution provides comprehensive support for both nominee and beneficiary accounts, thereby providing Strate with the ability to smoothly transition to an SOR (Securities Ownership Register) market model.
As part of
On the back of the HSI Volatility Index (VHSI), which measures Hang Seng Index (VNKY) option prices, reaching a six-year low earlier in October, Asian hedge funds are positioning themselves to bet on a return of volatile asset prices reported Bloomberg News this week.
Andrew Wong, a former Artradis Fund Management Pte manager, and who founded Fortress Convex in May with David Dredge as part of New York-based Fortress Investment Group LLC, was quoted as saying: “The last time we heard people say that in a low volatility environment that volatility was never going to rebound was in late 2006,
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