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Mizuho Corporate Bank is to acquire 95% of the issued and outstanding ordinary shares, on a fully-diluted basis, of hedge fund research and data services company, Eurekahedge.
In October 2010, MHCB established Mizuho Global Alternative Investments as a wholly owned subsidiary, to select and provide alternative investment hedge fund products for Japanese institutional clients including corporate pension funds and financial institutions.
MGAI and Eurekahedge previously entered into a business alliance agreement and are strengthening their collaborative efforts through joint projects such as the launch of the Japanese version MGAI-EH Newsletter, an analytical report on the hedge fund industry that MGAI
The international derivatives exchanges of Eurex Group recorded an average daily volume of 10.3 million contracts in February.Of those, 7.1 million were Eurex contracts (Feb 2010: 7.45 million), and 3.2 million contracts (Feb 2010: 3.15 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 142.1 million contracts were traded at Eurex and 61.0 million at the ISE.
In its largest product segment – equity index derivatives – Eurex Exchange achieved 58.4 million contracts (Feb 2010: 67.1 million), thereof 28.1 million were index futures and 30.3 million were index options. Futures on the EURO STOXX 50 Index stood
Returns for the Credit Suisse Liquid Alternative Beta (LAB) Liquid Indices suggest that hedge funds experienced positive performance in February.
Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse, says: "The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the return of the overall hedge fund industry, generated positive performance in February, finishing up 1.60% for the month. All four LAB sector indices posted gains as managers profited from a number of diverse strategies which generated positive returns across both equity and credit markets. The LAB Event Driven Liquid Index was the best performer
Alternative Investment Group, an alternative investment management firm that invests in long/short equity strategies, has promoted Chris Ayton to Partner, effective January 1, 2011.
Ayton was previously Director of Investments, a position he has held since March 2008 when he joined the firm. He serves on the firm’s six-person Investment Committee.
Ayton, who is based in London and is the first Partner based internationally, is one one of seven equity partners at the firm. He will continue to focus on identifying and evaluating European and Asian managers.
"The success of our firm is directly related to the
Guggenheim Partners, a global diversified financial services firm, has launched Guggenheim Global Trading LLC (GGT), which will invest capital on behalf of the firm, its shareholders, its affiliates and a small group of institutional investors. GGT will be based in Purchase, NY, and will be headed by Loren Katzovitz and Patrick Hughes, both managing partners of Guggenheim Partners.
“The current environment affords the firm a unique opportunity to hire seasoned talent out of what is a reshaped Wall Street landscape,” says Katzovitz. “As a private firm, we believe there are attractive opportunities to invest capital supporting trading strategies with high probabilities
Advent Software, Inc has acquired Syncova Solutions Limited, a privately held UK-based company that provides margin management and financing software to hedge funds and prime brokers. Under the terms of the agreement, Advent has acquired all of the outstanding capital stock of Syncova for an undisclosed amount.
Advent’s Founder and Chief Executive Officer, Stephanie DiMarco, says: “With an ongoing market focus on risk management, liquidity control and operating efficiency, there is an increased demand by hedge funds and prime brokers to automate the margin and finance cost process. This acquisition enables us to extend our footprint by expanding
The London based asset manager for the Montello Income Fund, has set up a fund distribution arm that will focus on promoting alternative investments.
Montello Distribution will be headed up by new recruit, Andrew Wood, who has over 10 years experience working in the financial services industry and has significant fundraising experience in London and Zurich.
Last year a report from PwC and Caceis revealed that the Fund distribution model in the UK is quite different to the rest of Europe, where the vast majority of fund sales are through retail and private banks. However in the UK,
Marc-Etienne Sébire has recently joined CMS Bureau Francis Lefebvre as head of capital markets. Sébire and his team advise corporate clients and financial institutions on capital Markets transactions, such as debt offerings, IPOs, equity and equity-linked products and structured derivatives.
Sébire, 36, holds a Master’s degree in Business Law, a further postgraduate degree in the Law and Economics of Banking and Financial Markets from the University of Caen (1997) and the CAPA professional certificate (1999). To date his entire career has been spent with Gide Loyrette Nouel, in the International Capital Markets team. He was based in Paris from
Newedge has expanded its extensive Financial Information eXchange (FIX) connectivity network to include the Johannesburg Stock Exchange’s (JSE) derivatives markets. Newedge clients can now immediately access the JSE’s widely traded FTSE/JSE Top 40 Index futures contract, as well as select agricultural contracts, including futures on White and Yellow Maize, Wheat and Sunflower Seeds.
Josef Jongkind, Newedge Global Head of Advanced Trading Services Origination, says: “We are continually expanding our electronic-trading capabilities and global reach focusing on our clients needs. With the launch of the JSE gateway, Newedge now offers seamless FIX connectivity across listed-derivative exchanges on six continents and
GlobeOp Financial Services saw record net income of USD33.7 million in 2010, according to the company’s preliminary results for the year ended 31 December, 2010.
Assets under administration (AuA) increased 37% to USD149 billion as at 31 December 2010 versus USD109 billion at the end of the prior year, while revenues grew 21% to USD189.3 million in 2010 versus USD156.5 million in the prior year. Adjusted operating profit increased 52% to USD56.1 million in 2010, while adjusted operating profit margin expanded to 29.6% of revenues in 2010 compared to 23.5% in 2009.
According to the preliminary results, the company also
