Latest News
Extracting accurate data is one of the biggest reconciliation challenges buy-side investment managers face just over a year out from T+1 for US equities, according to new research from Gresham Technologies, in association with WBR Insights.
In a survey of 200 heads of investment operations across global asset managers, fund administrators and hedge funds, 55% cited extracting the right data points accurately and efficiently as one of the three biggest reconciliation challenges.
A staggering 90% confirmed that their number of external data feeds increased in the last 12 months. With so much information to sift through, it is hardly surprising
Alternative data analytics firm QuantCube Technology has launched the QuantCube Core CPI Nowcast indicator for the US economy, which quantifies core inflation by measuring changes in the prices of goods and services.
The indicator excludes the food and energy components included in the broader Consumer Price Index, which are generally more volatile, and is designed to provide a clear picture of long-term inflation trends in the US. The indicator provides real-time insights on core inflation significantly ahead of official numbers published monthly.
The QuantCube team applied a fundamental approach to construct the new core CPI indicator – collecting and
OpenFin, the financial sector’s first common operating system, and the self-styled “OS of enterprise productivity”, has partnered with Dow Jones to integrate news, insights and analysis into desktops at banks, and asset and wealth management firms.
Under the new partnership, financial firms and professional subscribers can access Dow Jones Newswires’ news, real-time alerts and editor-curated top stories directly within the OpenFin Workspace platform. Dow Jones’ premium, real-time services also include content from The Wall Street Journal, Barron’s, MarketWatch and Investor’s Business Daily.
Acceding to OpenFin, this content will interoperate with other applications and information sources, providing a personalised, contextualised
Credit Suisse’s ‘rescue’ by rival UBS means that a lot of the Swiss bank’s employees may soon find themselves looking for new employment opportunities, but ex-Credit Suisse credit researcher Alexia Mignon has already found a new home with hedge fund Point72.
According to her LinkedIn profile, the French national, who has been working in the UK since 2017, has joined the London office of Steve Cohen’s $27.2 billion firm as a long/short credit analyst after less than two years at Credit Suisse.
Prior to Credit Suisse, Mignon began her career with Bank of America Merrill Lynch in London in 2017
Activist hedge fund Elliot Investment Management has decided not to proceed with its planned director nominations at Salesforce Inc, after a rise in the company’s stock price and the initiation of a series of strategic changes at the enterprise software firm, according to a report by Bloomberg.
Global hedge funds’ exposure to US banking stocks has hit a near 10-year record low as the turmoil in the sector triggered by the demise of Silicon Valley Bank and Signature Bank, and the ‘rescue’ of Credit Suisse by rival UBS, prompted managers to sell their positions, according to a report by Reuters.
The report cites Goldman Sachs’ prime services weekly report as revealing that investors have also cut their exposure to credit to the lowest level in nearly five years as concerns over a potential credit crunch have grown.
“Financials were net sold in eight of the past nine
The prospect of a recession driven by tighter credit conditions following recent turmoil in the global banking sector, prompted hedge funds and other money managers to sell oil-related futures and options contracts at the fastest rate for almost six years, according to a report by Reuters.
The report cites records published by ICE Futures Europe and the US Commodity Futures Trading Commission as revealing that traders sold the equivalent of 142 million barrels in the six most important contracts in the seven days ending on 21 March, after selling 139 million barrels in the week to 14 March, with total
Odey Asset Management is among a number of hedge fund firms that have cut back on bets against Baillie Gifford’s Scottish Mortgage Investment Trust after a large fall in its share price, according to a report by the Financial Times.
The report cites an investor update from James Hanbury, who runs Brook Absolute Return and Developed Markets at Odey, as revealing that the fund had pared back its short positions in the £13.4 billion, London-listed investment trust, despite ongoing concerns over board governance and exposure to risky private companies.
The move is a sign that Hanbury, and other investors, believe
Buyout firm CVC Capital Partners and activist hedge fund Elliott Management are among the suitors to have tabled bids to acquire parts of struggling cinema chain Cineworld, according to a report by Sky News.
Nomura Private Capital has launched its first investment product, the Nomura Alternative Income Fund, which it says marks a significant milestone in the firm’s global push into private markets. Nomura has provided an initial $100 million to seed the fund.
