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SEI has expanded its capabilities related to the processing and accounting of side pocket investments for fund managers.
SEI spearheaded the design and development of expanded functionality intended to provide managers with greater processing control, efficiencies, and risk reduction capabilities related to these pools of separate illiquid assets.
Over the past several years, side pocket investments have become more prevalent in hedge funds amid liquidity issues in the market, and as a result, the processing of these assets has come under greater scrutiny.
Side pocket investment processing is typically performed manually because methodologies are unique across managers and complex in
Breeden Capital Management has hired Joshua W. Fenton as senior managing director and director of research and trading.
Fenton will direct the US-based research team and serve on the investment committees of the firm’s US and European funds.
Fenton comes to Breeden Capital with more than 17 years’ experience in the investment industry, including nearly ten years with Gabelli Asset Management.
Richard C. Breeden, chairman and chief executive officer of Breeden Capital Management, says: “We are excited to be able to add Josh Fenton to our team of investment professionals. Josh brings a superb background in equity investing, together
BNP Paribas Investment Partners and Fortis Investments have completed the combination of their two operations.
The combined entity is now operating under a single brand name: BNP Paribas Investment Partners.
The integration makes BNP Paribas Investment Partners the fifth-largest asset manager in Europe and the 11th largest in the world, with EUR530bn in assets under management and advice as at 31 December 2009.
BNP Paribas Investment Partners’ existing investment platform has been strengthened with new capabilities from Fortis Investments. It now has 60 investment centres, each responsible for the management of a specific asset class or type of product, and
NYSE Arca Europe, NYSE Euronext’s pan-European multilateral trading facility, says its market share has reached a significant milestone, with an average of 1.10 per cent and 1.02 per cent traded in transaction value on the FTSE 100 and FTSE 250 stocks respectively in the last week.
Virginie Saade (pictured), head of NYSE Arca Europe, says: “The diversity of our market participants combined with the consistently ultra low latency of our Universal Trading Platform have allowed our volume and market share to reach new record levels.”
NYSE Arca Europe provides trading access across Europe. Launched in March 2009, the platform
In March 2010 the international derivatives exchanges of Eurex Group recorded an average daily volume of ten million contracts, a decline of 17 percent from March 2009.
Of those, 7.1 million were Eurex contracts and 2.96 million contracts were traded at the US-based International Securities Exchange.
In total, 163.7 million contracts were traded at Eurex (March 2009: 172.3) and 68.1 million at the ISE (March 2009: 96.7).
The equity index derivatives product segment recorded 69.5 million contracts (38.5 million index futures and 31 million index options), down from 92.5 million contracts the year before.
Futures on the Euro Stoxx 50
Australian hedge funds produced positive returns in February but for many managers it was a tough month, according to a report by Australian Fund Monitors.
The AFM Hedge Fund Index rose 0.11 per cent in February, while equity based funds rose 0.07 per cent, non-equity based funds rose 0.16 per cent and single funds were up 1.13 per cent. The AFM Fund of Fund Index fell 0.03 per cent.
Equity markets started the month much as January left off, with concerns over new legislation in the US, Greece’s sovereign debt issues possibly spreading elsewhere in Europe, and potential credit tightening
Citi has launched an algorithmic trading platform for its institutional equity trading clients.
The platform offers execution logic and extensive customisation capabilities.
Citi algorithmic trading strategies incorporate smart routing technology along with the diverse liquidity and anti-gaming benefits of the Citi Match Crossing Network.
“Citi is proud to bring the next generation of algorithmic trading to our institutional clients,” says Young Kang, global head of algorithmic products at Citi. “Citi Algorithmic Trading capitalises on Citi’s extensive global trading expertise, our world class technology, and unparalleled market liquidity. It is designed to bring together our global capabilities with the firm’s substantial
First State Investments International Limited has sold First State Media Group (Ireland) Limited (FSMG) to Chrysalis PLC (Chrysalis) for GBP11 million.
FSMG is the investment advisor and music publishing administrator to the FS Media Works Fund I, L. (the fund) which has built up a music publishing catalogue of approximately 45,000 copyrights, including the former "DreamWorks", "Wind-up" and “Sheryl Crow” catalogues.
The deal will have no impact on the fund’s current investors. Co-Managing Director, Steve McMellon, will continue as a consultant to Chrysalis on FSMG’s music operations while the other members of FSMG’s investment team, including Co-Managing Director, Geordie
UMB Fund Services, Inc, a subsidiary of UMB Financial Corporation, has rebranded its Alternative Investment Services division as JD Clark & Company, a division of UMB Fund Services.
UMBFS will continue to use the name UMB Fund Services, Inc for its mutiual fund servicing business.
UMBFS, which commenced operations in 1990 as a provider of back-office services for mutual funds, expanded its offerings in 2002 to include services for alternative investment products such as hedge funds. This line of business grew significantly in May 2009 when UMBFS acquired JD Clark & Company, an established Utah-based firm specializing in servicing
Weston Capital Management has appointed Marcel Herbst as a member of the management team.
Herbst’s role will be to lead the global distribution efforts, work on creating strategic partnerships, and oversee the further development of the firm.
Herbst spent the previous eight years at Harcourt as managing director of the firm’s US presence as well as executive director of the Harcourt Group.
Harcourt is joint venture partner with Weston on the Weston Capital Partners Fund III, an incubation fund.
Albert Hallac, chief executive of Weston Capital, says: “We are excited to have Marcel join the firm. Weston is currently engaged
