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London hedge fund manager Marshall Wace LLP has been buying Chinese property and banking stocks for two of its financial hedge funds on expectations a stuttering global economic recovery wil
Mehdee Reza has been appointed by Morgan Stanley to head up the bank’s Asia prime brokerage division.
Former head of Asian commodities at Bank of America Merrill Lynch, Diego Parilla, has launched his own commodity hedge fund with a view
Collateralized loan obligation (CLO) transactions have been the primary source of new funding for European leveraged loans in recent years. But as many of these loans are set to mature in the near future, a new report by Standard & Poor’s Ratings Services questions whether the CLO market will be around to offer support in refinancing them.
Using collateral portfolio data for 205 European cash flow CLOs at the end of each year between 2008 and 2010, we have found that the vast majority of European CLOs are likely to fall away from the leveraged finance market at the very
Blue Sky Funds Management has appointed Jane Prior, former international Nabarro associate, as its commercial manager – a newly created role, which will further reinforce the firm’s stringent corporate governance approach.
Prior will provide in-house counsel for the development of Blue Sky’s fund offering and advise on a range of commercial opportunities in Blue Sky’s private equity and real estate divisions.
Blue Sky has grown rapidly in the past few years by developing high-performing and innovative alternative investment products for private clients, financial planners and institutions.
The firm now has USD200m in funds under management across private equity,
Oil companies are currently undervalued but the situation cannot continue for long, says Angelos Damaskos (pictured), CEO, Sector Investment Managers and Fund Advisor, Junior Oils Trust…
The Junior Oils Trust has been conservatively positioned since the beginning of the year with significant cash reserves and an allocation to corporate bonds. This positioning has provided some insulation against market weakness as a result of the Japanese earthquake, the Eurozone debt crisis and now, the indiscriminate sell-off of equities. The fund currently holds approximately 14% of its portfolio in corporate bonds and around 5% in cash. We have been selectively investing available
NYSE Liffe, the Europe-based derivatives business of NYSE Euronext (NYX), has launched options on the shares in UNIT4 NV (ticker symbol: UNT). The new listed options enable investors to hedge their share positions and to benefit from price fluctuations. The options were introduced on the Amsterdam derivatives market of NYSE Liffe.
Alan van Griethuysen, Business Head Benelux and Asia of NYSE Liffe, says: “The new listed options will enhance the UNIT4 shares’ appeal to investors and they are beneficial for the liquidity of the shares as well. With the introduction of UNIT4 options we offer investors an even more complete
The Australian Securities and Investments Commission (ASIC) has entered into enforceable undertakings (EUs) with the remaining two former directors of Trio Capital Limited (Trio), Keith Finkelde and David O’Bryen.
Finkelde, who was a non-executive director from April 2007 and was also a member of the Investment Committee of Trio from July 2008, has agreed not to act in any role within the financial services industry for four years. He has also agreed not to act as a director of any corporations for four years.
O’Bryen who was a non-executive director of Trio from June 2007 and was chairman of the
Wealth and alternative asset management group Peregrine Holdings has created a new company within the group with the ability to raise capital for selected alternative investment managers that are not necessarily affiliated to the Peregrine group. The unit will focus on sophisticated local and international investors.
“We are thrilled to announce that we now have the ability to engage with non-Peregrine group funds which complement the existing offering and can pass our rigorous due diligence process. This greater scope will give investors further comfort that they are being introduced to managers that, in our view, are best-of-breed," says Leila Kuhlenthal,
The European Energy Exchange (EEX) and the Eurex Exchange are to introduce a new incentive model for the emissions market which aims at strengthening the EEX CO2 market in the competition with other trading platforms. The model targets the secondary market trading and is designed to increase the attractiveness of EEX prices (tight spreads) and hence liquidity of the markets.
The future incentive model, which is due to launch on 1 September, provides for two volume thresholds: If the monthly volume achieved by a trading participant exceeds a level of two million tonnes of CO2 or a level of four
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