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iCapital, a global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, has completed the acquisition of SIMON Markets. The transaction meaningfully broadens iCapital’s investment menu, technical capabilities, education offerings and support services for advisors and their clients.
Through this acquisition, iCapital will create a single source of alternative investment strategies from nearly 300 asset managers and product manufacturers, adding SIMON’s structured investments, annuities, digital assets and risk-managed products offerings to iCapital’s extensive menu of private offerings including equity, credit, real estate, infrastructure, direct deals, hedge funds, and other alternative strategies.
The combination
Steve Cohen, founder of hedge fund Point72 Asset Management has exited his investment in cryptocurrency trading startup Radkl, according to a report by Bloomberg.
The report cites a statement from a spokesperson for the company as confirming that the billionaire investor, who had made a personal investment in Radkl, is no longer backing the quantitative crypto trading firm, which was founded by New York Stock Exchange market maker GTS.
Radkl has already lost two managing directors this year, including Jim Greco and Beatrice O’Carroll and now lists only five employees on its website although that lists includes O’Carroll who has
OSTTRA’s portfolio reconciliation service, OSTTRA triResolve, is now actively reconciling data received from LCH SwapAgent, part of London Stock Exchange Group (LSEG).
Building on an existing relationship between OSTTRA and LCH SwapAgent, where trades legally confirmed on OSTTRA MarkitWire are registered into the LCH SwapAgent non-cleared service, this collaboration provides enhanced benefits to customers.
LCH SwapAgent is a service designed to standardise and simplify the valuation and settlement of non-cleared OTC derivatives and is now connected to OSTTRA triResolve to enable the reconciliation of member trade data.
Market participants can authorise SwapAgent to send their data directly to
Man Group has reported a drop in assets under management of 6% over the three months to the end of June, due to the impact of volatility in global financial markets.
Client assets dropped to $142.3 billion from $151.4 billion as of 31 March 2022, following losses of $4.6 billion from currency moves and another $4.6 billion from investments.
Despite the fall in AUM, higher net management fees and core performance fees helped drive core profit before tax to $395 million, an increase of 22% on the $323 million achieved in the six months ended 30 June 2021.
Chief executive
The trial of former Platinum Partners portfolio manager Daniel Small for fraud got underway in Brooklyn on Monday, with the jury hearing from the prosecution how the defendant was involved in a scam against one of the now defunct hedge fund’s portfolio companies, according to a report by Reuters.
United Fintech, a one-stop-shop for banks, hedge funds, and asset managers, is opening a developer hub in Madrid this week.
David Einhorn, founder of hedge fund Greenlight Capital, has written to investors to inform them that the fund has acquired a new stake in Twitter at an average price of $37.24 per share, according to a report by Reuters.
Digital asset investment products saw inflows totalling $81 million last week, the fifth consecutive week of inflows totalling $0.53 billion, according both latest Weekly Fund Flows report from CoinShares.
July represents the strongest monthly inflows so far this year totalling $474 million, almost correcting all of the June outflows which totalled $481 million.
Bitcoin saw inflows totalling $85 million last week while short-bitcoin saw outflows totalling $2.6 million, the first week of outflows after the recent bear market saw a five-week run of inflows.
A new study by Barclays suggests that when it comes to hedge fund fees and returns, it really is case of you get what you pay for, according to a report by Bloomberg.
Recent research by Barclays’ Capital Solutions Group, looking at the fees and returns from around 290 hedge funds, reveals that the firms that charge the highest fees – quite often the industry’s biggest names – generate better returns for investors than cheaper rivals.
Top off the pile in terms of performance are multi-manager funds, which use groups of traders to invest across markets, and the study found
Dan James has worked on the sell-side. He’s worked on the buy-side. And now, he’s morphing into the man to know for a job in hedge funds.
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