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BNP Paribas has marked the fourth anniversary of the THEAM Quant Dispersion US fund one of its suite of systematic and alternative strategies, providing liquid exposure to a broad range of asset classes.
The fund aims to offer a long-run low to negative correlation to US equities by benefitting from the rise in single-stock volatility relative to a reference index. It does this through a long position in the volatility of a selection of the largest US stocks in the S&P 500, and at the same time, shorting the volatility of the index itself.
The fund aims to generate
Troubled crypto hedge fund Three Arrows Capital (3AC) has moved to protect its US assets by filing for Chapter 15 bankruptcy in Manhattan federal court, according to a report by The Financial Times.
The development comes after a court in the British Virgin Islands issued a liquidation order against the 3AC after it allegedly failed to $80 million it owed to digital asset exchange Deribit.
The Chapter 15 filing will prevent creditors from seizing 3ACs US assets.
Advisory firm Teneo as been appointed in the British Virgin Islands to liquidate Three Arrows, while law firm Latham & Watkins is representing
The Securities and Exchange Commission has filed fraud charges against Empires Consulting Corp. (EmpiresX), its founders Emerson Sousa Pires and Flavio Mendes Goncalves, and its head trader Joshua David Nicholas, for a scheme that allegedly raised at least $40 million by luring investors with false claims of 1% daily profits, but instead misappropriated large sums of investors’ money for personal uses.
According to the SEC’s complaint, since at least late 2020, EmpiresX, based in South Florida, sold investments touting daily profits of one percent earned by a trading “bot” or Nicholas’ manual trading. The complaint alleges that, in reality, the
GAM Investments has appointed Roland Mueller as Senior Investment Manager Fixed Income. Mueller will report to Andrea Quapp, investment director for Multi Asset Class Solutions and lead manager of segregated accounts and funds primarily for European and Swiss institutional clients.
Mueller, who joined the firm on 1 July 2022, will be based in Zurich.
Mueller will manage various global bond investment strategies and mandates for institutional clients. As a portfolio manager he has 20+ years of experience in fixed income and a strong track record managing credit in developed and emerging markets. In his career, he achieved four- and five-stars
CoinShares International Limited (CoinShares), following receipt of approval from the Autorité des Marchés Financiers (AMF), has acquired Napoleon Asset Management, the first digital asset manager to be licensed under the AIFM Directive.
The transaction signed and completed on 30 June, 2022.
The transaction follows the acquisition of the Napoleon Group last December and fits with CoinShares’ strategy of developing into a full-service digital asset investment and trading group, within a strong regulatory framework.
CoinShares is a strong advocate of regulation in the digital asset industry and has an extensive list of regulated products and services. The acquisition of Napoleon Asset
Dubai is fast becoming a new hedge fund hotspot with a clutch of managers swapping more traditional locations for the emirate, according to a report by Bloomberg.
Millennium Management, the hedge fund firm founded by Izzy Englander, now employs around 30 staff in Dubai having secured a license to operate in the International Finance Centre (DIFC) in 2020, while All Blue Capital shaped its previous London HQ to base it’s global operation in Dubai with almost half of the company’s global staff now based there.
While Brexit has spurred some funds to seek new bases away from the City of
Bitfinex, a state-of-the-art digital token trading platform, is listing new markets for Convergence (CONV), an automated market maker (AMM) that aims to make private assets interchangeable in the decentralised finance (DeFi) space.
Convergence is an AMM that makes private tokens interchangeable by fractionalising them, using a single interface and composable with other DeFi protocols.
Convergence enables originators to take advantage of liquidity available on DeFi platforms, while DeFi users can obtain access to new private assets. Convergence aims to offer a lower investment entry barrier with the liquidity, automation and transparency features of DeFi, bringing what it says is exclusive
Both Blockchain.com and Deribit were part of a group of creditors who pushed for troubled cryptocurrency hedge fund Three Arrows Capital (3AC) to ordered into liquidation, according to a report by Bloomberg.
Cryptocurrency exchange Blockchain.com is also reported to have said that it is cooperating with ongoing investigations into 3AC which was forced into liquidation by a court order issued in the British Virgin Islands earlier this week.
Crypto derivatives exchange Deribit was one of those liquidate 3AC’s capital positions after the fund failed to meet margin calls.
The Scotiabank Canadian Hedge Fund Index ended May 2022, down -1.73% month-on-month on an asset-weighted basis and down -2.03% month-on-month on an equal-weighted basis.
The comparable benchmark indices were both up slightly for the month, with the S&P TSX 60 Total Return Index and S&P 500 Total Return Index posting increases of 0.15% and 0.18% respectively.
The index, which includes open and closed funds with a minimum AUM of C$15 million and a 12-month track record, that are managed by Canadian-domiciled managers, is now down 2% YTD
The Scotiabank Canadian Hedge Fund Index provides a comprehensive overview of the Canadian
GoldenSource, an independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions, has launched cloud data services for financial markets firms to better manage data into and within data lakes and warehouses.
