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Trade finance industry leaders and leading asset managers have joined forces to create a global trade finance working group dedicated to boosting the role of alternative lenders in the sector. The working group will consolidate initiatives within the Alternative Credit Council.
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With 60% of investors set to increase or maintain their hedge fund exposure in 2023, allocators are betting on macro managers to thrive amid rising rates, with the economic upheaval also fostering alpha opportunities in relative value arbitrage and distressed credit.
Light Street Capital Management’s hedge fund racked up one of the industry’s biggest declines in 2022, falling 54% over the year, just shy of Tiger Global Management’s 56% decline, according to a report by Bloomberg.
Investors withdrew $111 billion from hedge funds in 2022, the industry’s third-worst year of outflows in 15 years, as a string of Federal Reserve rate hikes aimed at tackling soaring inflation pulled down asset prices, according to a report by Dow Jones.
The report cites fund flows data from eVestment as revealing that the outflows were the worst since the the final coal crisis of 2008-2009 and the heavy redemptions seen in both 2016 and 2019.
Hardest hit were fixed income funds with an estimated $43 billion in outflows, while long-short equity strategies saw outflows of nearly $38 billion over
The Managed Funds Association, a representative body for the alternative investment industry, has submitted a written response to the Financial Conduct Authority’s consultation paper on Sustainability Disclosure Requirements (SDR) and investment labels, expressing its support for the objectives but calling for greater clarity around how the rules will apply.
Jensen Partners, an executive search form focussed on the alternative investment management industry has opened a new office location in Miami, Florida, as part of its wider commitment to expand client relationships and access to talent pools in growing financial hubs around the world.
The office at 1200 Brickell Avenue, located in the heart of Miami’s business and financial district, will be the firm’s fourth office in addition to existing offices in New York, London and Hong Kong.o
Since 2020, Jensen Partners has reported notable progress in diversity, equity and inclusion (DEI) recruitment initiatives across alternative investment management firms. In
BNY Mellon has launched a new outsourced trading offering for buy-side institutions globally, including asset managers and asset owners. The offering by BNY Mellon Capital Markets, LLC will be powered by xBK, the buy-side trading division that executes more than $1 trillion in volumes on average annually for the company’s Investment Management franchise.
BNY Mellon says the comprehensive, global multi-asset trading service will give clients “significant opportunities for operational and strategic efficiencies, savings and expansion”.
The outsourced trading offering provides: coverage of all major asset classes, with the ability to transact across most global markets, supports more than 150 investment
Lazard Asset Management has appointed Jennifer Ryan as Managing Director and Head of North American Distribution, effective immediately. Based in New York, Ryan joins from BlackRock where she held leadership roles in both the firm’s US and UK Institutional Client Businesses.Â
London-based hedge fund Man Group has continued its recent hiring spree with the appointment of Matthew Giordmaina as the firm’s new head of of reconciliations, investment operations, according to reports.
Teleios Capital Partners, an activist hedge fund based in Zug, Switzerland has upped its stake in Irish housebuilder Glenveagh Properties from 16% at the end of last year, and now has a 18.6% holding in the business, according to a report by the Irish Times.
Teleios’ acquisition of additional Glenveagh shares comes just as Singaporean sovereign wealth fund GIC, one of the main backers of the company’s IPO back in 2017, has cut its stake by a third in recent weeks to 6.3 per cent, having sold 21.7 million shares so far this year at an average 7% discount to
