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Affiliated Managers Group (AMG) has increased its investment in BlueMountain Capital Management, a credit alternatives manager which has been an AMG affiliate since 2007.
Under the terms of the transaction, all eight members of BlueMountain’s management committee, including its chief executive officer and co-founder Andrew Feldstein, as well as seven other partners, have entered into or renewed their long-term commitments with the firm.
In addition, a significant portion of the proceeds from the transaction will be invested in BlueMountain funds. The firm will continue to operate independently, with no changes in day-to-day operations.
Founded in 2003, BlueMountain manages more than
The Monetary Authority of Singapore (MAS) has set the deadline for the official release of the new rules concerning fund managers for August 2012.
The announcement was made by Ravi Menon (pictured), managing director of the MAS, at the MAS annual report 2011/12 press conference held last week in Singapore.
He said: “All fund management companies will have to meet the enhanced competency, business conduct, and capital requirements by August 2012. Those with assets under management greater than SGD250m will have to be licensed, while those below this threshold may operate under the ‘Registered Fund Management Company’ regime, which will
Behringer Harvard and Prospect Capital Management have launched a joint venture targeting the development, management, and distribution of alternative investment programmes.
Addressing the challenges presented by today’s low-yielding fixed income vehicles, the programmes sponsored by Behringer Harvard and Prospect Capital will focus on high-yielding debt and equity opportunities.
With offices in New York City, Prospect Capital, with its predecessors and affiliates, has a 24-year history of investing in and managing high-yielding debt and equity investments, using both private partnership and publicly-traded closed-end structures.
Through this joint venture, both firms will leverage their expertise in co-adviser roles. Behringer Harvard will lead
The domestic Japanese economy remains sluggish, but with valuations close to an all-time low, stocks look attractive, especially in the event of a weakening of its currency, says Bruno Springael, Senior Investment Manager, Global High Dividend at ING Investment Management…
Regionally, there is value to be found but one must be cautious. Japan is likely to offer value and we have seen encouraging signs in emerging markets in Asia and Latin America, with inflation moderating and growth numbers not as negative as first feared.
“However, North America’s economy is showing no signs of improvement, despite recent positive developments in
SS&C GlobeOp has launched its investor document processing and management solution, e-Investor, for hedge funds, fund of funds, private equity funds and managed account organisations.
In the alternatives industry, managing paper-based investor transaction documents, such as subscriptions and redemptions, is laborious, time-consuming, and fraught with risk.
SS&C GlobeOp’s e-Investor provides an electronic workflow solution, including web-based completion of investor documents reducing operational risks, speeding up transaction processing and achieving high levels of data quality and integrity.
In early 2012, a major financial institution deployed SS&C GlobeOp’s e-Investor to automate its investor subscription processing. Secure web-based access was granted to
Interview with Christian O’Neill – Having fallen sharply earlier in the year, Brent Crude has staged a recovery in recent weeks, rising from 89.61 on 21 June to 106.8 as of 20 July. In terms of spare capacity, the cushion is thin. With the threat of Iran closing the Straits of Hormuz, and the possibility that the US could engage a third round of quantitative easing, there are clear macro risks to cause supply outages and support further upward price pressure.
However, looking at crude from a purely fundamental viewpoint, there seems to be a good match between supply and
By James Williams – Within the S&P GSCI Enhanced Commodity Index, industrial metals returned -4.7 per cent through early June 2012.
Interview with Nizam Hamid – According to Nizam Hamid, Head of ETF strategy at Lyxor in London, investors taking exposure in the commodities space are looking to move away from first-generation indices, which take a more simplistic approach to managing roll costs, and looking for more sophisticated, next-generation solutions.
Earlier this year, Lyxor duly obliged by launching a range of ‘smart’ commodity ETFs based on its newly created Optimix TR and Momentum TR indexes.
“We use four different roll strategies. The most straightforward roll is static enhancement, which rolls the third nearby with the fourth nearby to minimise the impact
Interview with Knut Andersen – Swiss Metal Assets (SMA) is the only company providing a turnkey solution in the acquisition and storage of rare strategic and precious metals in the Americas. The firm is based in Panama with representatives in the USA, UK and Italy. Its trading partners are Schweizerische Metallhandel AG and Haines & Maassen, both based in Germany.
SMA’s objectives are quite simple: to stockpile rare strategic metals on behalf of clients (and itself), in Switzerland and Panama, with a view to then offering them back to the market in three to five years’ time at elevated prices.
By James Williams – “The big story for gold and silver is basically over. We think gold is nearing the end of its 10-year price rally. Our central scenario is that gold and silver will peak in H2’13, based on our assumption that there will be no further large-scale monetary accommodation, notably by the Federal Reserve, next year,” suggests Anne-Laure Tremblay (pictured), precious metals analyst, commodity derivatives, at BNP Paribas.
This time a decade ago gold was trading at USD300/oz. Aside from a dip in 2008, prices have consistently trended upwards, reaching a record high of USD1884/oz last August as
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