Fund finance market—adapting to change
JD Supra: Mergers
JUNE 23, 2023
Following a period of rapid growth, the fund finance market has reached an inflection point.
‘Big Short’ investor Michael Burry piles into physical gold fund, making it his biggest bet
CNBC: Investing
MAY 15, 2024
Burry, who now manages hedge fund Scion Asset Management, bought more than 440,000 units of the Sprott Physical Gold Trust (PHYS).
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Major investment banks and asset managers partake in landmark blockchain pilot
The TRADE
MARCH 12, 2024
Digital Asset’s blockchain network Canton has completed a pilot involving a large group of major investment banks and asset managers demonstrating interoperability of independent distributed ledger applications (dApps) in the capital markets domain. It’s having that interoperability while preserving the privacy and control.”
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Brookfield Asset Management wraps up third infrastructure debt fund
PE Hub
NOVEMBER 3, 2023
BID III's limited partners include public and private pension plans, sovereign wealth funds, financial institutions, endowments, foundations and family offices. The post Brookfield Asset Management wraps up third infrastructure debt fund appeared first on PE Hub.
Private Fund Sponsor M&A Could Take Off in 2024
JD Supra: Mergers
APRIL 10, 2024
Acquisitions of private fund sponsors can be accretive for large asset managers, providing access to attractive investment strategies with equally attractive margins, which can be deployed in new ways on larger platforms. 2023 may have been a surge, but even the first two months of 2024 seem like a tidal wave.
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Silicon Valley: A Friend or Foe to Asset Management?
Accenture Capital Markets
SEPTEMBER 5, 2023
The financial services industry—including asset managers—has had an interesting relationship with Silicon Valley. Asset managers should not assume that these tech giants will look past this industry. This is just what Alibaba, an Amazon-like tech firm in China, did when it entered the mutual fund business in that market.
[Podcast] Private Market Talks: The Hedge Fund Platform Model with Crestline’s Caroline Cooley
JD Supra: Mergers
MAY 14, 2024
In this episode, we’re joined by Caroline Cooley, managing partner and CIO for Crestline Summit Strategies. Caroline joined Crestline in 1998 and has since helped build the firm into a multi-strategy, multi-portfolio and multi-billion-dollar asset manager. By: Proskauer - Private Market Talks Podcast
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What will it cost you to buy a bitcoin ETF? Here are the cheapest and most expensive funds
CNBC: Investing
JANUARY 11, 2024
Asset managers were already cutting their fees ahead of Thursday's launches for bitcoin ETFs.
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Royal London Asset Management restructures global equity team
The TRADE
APRIL 29, 2024
Royal London Asset Management has restructured its global equity team with immediate effect, following the departure of its head of equities and some members of the wider global equities team. Matt Burgess will support Hillier in managing the global equity team, as well as continuing as head of quant strategies.
A big European asset manager trims Nvidia shares after huge rally
CNBC: Investing
JULY 15, 2024
DNB Asset Management, a Nordic fund giant, dumped a sizable portion of its Nvidia stake after the chip giant's stunning 2024 run.
European asset managers face almost 40% of trades falling outside of CLS cut-off due to custodian deadlines
The TRADE
MARCH 14, 2024
More than a third of FX trades from European asset managers would have to settle outside CLS following the US shift to T+1 and therefore carry increased risk, a leading association has found through new research. T+1 implementation today does not represent an absolute reduction of risk in the system.
FDIC Proposes Broader Role Under the Change in Bank Control Act
JD Supra: Mergers
AUGUST 29, 2024
The NPR seeks, in part, to address the FDIC’s concerns about the increasing stakes in insured depository institutions (IDIs) and their holding companies (IDI Holding Companies) held by large fund complexes and other asset managers. The NPR was adopted by a 3-to-2 vote, with Vice-Chair Travis Hill and.
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Brookfield Asset Management opens new Frankfurt office
PE Hub
NOVEMBER 13, 2023
The post Brookfield Asset Management opens new Frankfurt office appeared first on PE Hub. Brookfield has been actively investing in Germany since 2013.
KKM Financial's Essential 40 stock fund is now an ETF
CNBC: Investing
OCTOBER 21, 2024
Many asset managers have been converting their mutual funds to ETFs in recent years, due in part to a 2019 SEC rule change.
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Bloomberg AIM adopted by APS Asset Management to automate post-trade workflows
The TRADE
JUNE 24, 2024
Singapore-headquartered fund manager APS Asset Management has adopted order and investment management technology solution, Bloomberg AIM, to automate its post-trade workflows. We are proud that our partnership with APS Asset Management will help them scale and automate workflows.”
Course5 Intelligence announces second close of $53 million funding round
Business Standard - FInance
JUNE 6, 2023
Course5 Funding: Investment was led by Nuvama Asset Management, with participation from Carnelian Asset Advisors
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Cathie Wood takes a stake in OpenAI, saying it's at the forefront of a 'Cambrian explosion' in AI
CNBC: Investing
APRIL 12, 2024
Petersburg, Florida-based asset manager said her ARK Venture Fund has invested in OpenAI as of Wednesday. In a Thursday email to clients, the St.
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People Moves Monday: UBS, MEAG, Northern Trust Asset Management and more…
The TRADE
JUNE 24, 2024
Before joining MEAG, Malakis held senior sales positions with international asset managers, including Generali Insurance, Vanguard International and Schroders. Northern Trust Asset Management appointed Naoto Komoro to lead its asset management business in Japan.
Ex-Balyasny Asset Management trader joins Millennium
The TRADE
NOVEMBER 13, 2023
Umair Khan Marwat has joined Millennium as a trader, following almost two and a half years at Balyasny Asset Management. Hong Kong-based Marwat previously worked at Credit Suisse, focused on AES, algorithmic, and direct market access (DMA) trading, before joining Balyasny Asset Management in 2021 as a trader.
Resona Asset Management selects BBH to bolster FX trading capabilities
The TRADE
OCTOBER 31, 2024
Brown Brothers Harriman (BBH) has expanded its relationship with Japan-based Resona Asset Management to include BBH’s automated third party FX solution, InfoFX. Munenori Yoshihara, BBH The development sees Resona become the first Japanese investment manager to implement the FX solution.
Charlesbank Capital Partners wraps up third credit fund at $1.5bn
PE Hub
JANUARY 31, 2024
Charlesbank Credit Opportunities Fund III's LPs include public and corporate pensions, endowments, foundations, financial institutions, asset managers and family offices, as well as high-net-worth individuals. The post Charlesbank Capital Partners wraps up third credit fund at $1.5bn appeared first on PE Hub.
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People Moves Monday: Goldman Sachs Asset Management, Liquidnet, Trumid and more…
The TRADE
FEBRUARY 26, 2024
Ryan O’Connor left Goldman Sachs Asset Management and is set to join ETF provider Global X ETFs as chief executive on 8 April. He most recently served as global head of ETF product, having initially joined Goldman Sachs Asset Management back in 2017 to build out the US fund strategist model portfolio business.
Canada Growth Fund to invest C$200m in Advantage Energy’s Entropy
PE Hub
DECEMBER 20, 2023
Last year, Entropy secured a C$300 million investment from the Brookfield Global Transition Fund I, an energy transition fund managed by Brookfield Asset Management. The post Canada Growth Fund to invest C$200m in Advantage Energy’s Entropy appeared first on PE Hub.
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Goldman Sachs Asset Management global head of ETF product departs
The TRADE
FEBRUARY 21, 2024
Ryan O’Connor has left Goldman Sachs Asset Management and is set to join ETF provider Global X ETFs as chief executive on 8 April. He most recently served as global head of ETF product, having initially joined Goldman Sachs Asset Management back in 2017 to build out the US fund strategist model portfolio business.
‘Big Short’ investor Michael Burry reshuffles portfolio, adds hedges on China holdings
CNBC: Investing
NOVEMBER 14, 2024
Burry, who now manages hedge fund Scion Asset Management, boosted his stakes in a few Chinese internet companies' ADRs.
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BlackRock and Jio Financial Services to form India-based asset management JV
PE Hub
JULY 27, 2023
The post BlackRock and Jio Financial Services to form India-based asset management JV appeared first on PE Hub. JFS and BlackRock are targeting an initial investment of $150 million each in Jio BlackRock.
Allianz Global Investors taps UBS Asset Management for new head of equity Europe core and value
The TRADE
AUGUST 29, 2023
Vahid joins AllianzGI from UBS Asset Management where he served in a variety of roles over the last 20 years. The post Allianz Global Investors taps UBS Asset Management for new head of equity Europe core and value appeared first on The TRADE.
Commodity Hedge Funds: The Most Lucrative “Hidden Gem” in Finance?
Mergers and Inquisitions
MARCH 8, 2023
If you want to work in the most cyclical role in the finance industry, it’s hard to beat commodity hedge funds. Many of the largest hedge funds put commodity trading within their global macro strategies , but plenty of smaller funds, banks, and desks make it a separate category or focus on commodities within their macro strategies.
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Beyond the Data: Hedge funds loving their algos more than ever before
The TRADE
JUNE 26, 2024
The past year has seen vast improvement across the algorithmic trading space when it came to hedge funds’ strategies, new data from The TRADE has found. High scores for ease of use prove the clear satisfaction among hedge funds utilising algo strategies, cementing the notion that desired developments within the technology are being met.
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People Moves Monday: UBS, Titan Asset Management, IEX Group and more…
The TRADE
JUNE 10, 2024
Alex Livingstone, formerly head of trading for ETFs and FX at Titan Asset Management, joined Titan Investment Solutions as a junior portfolio manager and trader. He will also be involved in the ongoing management of the Titan Hybrid Capital, Core Credit, and Short Duration IG income funds.
Multi-Manager Hedge Funds: A Meritocratic Paradise or a Revolving Door of Burnout?
Mergers and Inquisitions
DECEMBER 6, 2023
Almost all conversations about buy-side roles eventually turn to multi-manager hedge funds , also known as “pod shops.” There are only a few dozen large funds in this category worldwide, but they’ve greatly impacted the markets and finance careers. These funds are usually multi-strategy as well.
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Former Odey Asset Management trader joins Sarasin & Partners in a multi-asset role
The TRADE
APRIL 19, 2024
Sarasin & Partners has appointed a former Odey Asset Management trader to join its ranks as a multi-asset dealer, The TRADE can reveal. Neil Palan joins Sarasin & Partners as a multi-asset dealer after over 16 years with Odey Asset Management.
DWS Group’s global head of capital markets leaves the business
The TRADE
FEBRUARY 28, 2024
The global head of capital markets at German asset manager DWS, Keshava Shastry, has left the business, according to two people with knowledge of the matter, The TRADE can reveal. Keshava Shastry Shastry, a managing director based in London, had been with the German firm for over ten years.
Distressed Debt Hedge Funds: How to Become a Vulture Capitalist
Mergers and Inquisitions
SEPTEMBER 13, 2023
Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed assets offer non-correlated returns, similar to global macro.” Distressed investing offers equity-like returns with lower risk.”
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Asset managers looking to shake up strategy in next two years, Northern Trust survey finds
The TRADE
MAY 1, 2024
Some 83% of asset managers plan to change product strategy in the next two years, a new survey from Northern Trust has found, emphasising the need to cater to diverse investor needs. Technology appears to be at the heart of that change, with 77% planning to leverage new tech within the same timeframe.
Evaluating Asset Management Companies: Key Metrics and Methodologies
MergersCorp M&A International
NOVEMBER 1, 2024
Valuing an asset management company (AMC) is a multifaceted endeavor that requires a nuanced approach. Asset management companies are integral players in the financial services sector, managing investments on behalf of clients, which can include individuals, institutions, and corporations.
Asset managers proceed with caution despite overwhelmingly successful T+1 transition
The TRADE
JUNE 7, 2024
The costs are higher than anticipated too due to the service providers charging for lending and overdraft facilities for funding support.” Two tests have been passed thus far, but what would a spate of market volatility mean for participants?
BNP Paribas to pay €5.1 billion for AXA Investment Managers in trillion-dollar asset management JV
The TRADE
AUGUST 2, 2024
Specifically, the new entity would be a leading player in long term savings assets for insurers and pension funds, BNP Paribas said in its Thursday statement. billion for AXA Investment Managers in trillion-dollar asset management JV appeared first on The TRADE. The post BNP Paribas to pay €5.1
Liontrust offer for GAM declared ‘unsuccessful’ as asset manager extends immediate short-term financing
The TRADE
AUGUST 29, 2023
UK asset manager Liontrust conditionally agreed to acquire its Swiss competitor GAM Holding for £96 million back in May, following murmurs of the deal in April. The investor group has confirmed to the current board “their intention to secure sufficient financial resources to fund GAM’s operations as a going concern”.
People Moves Monday: Balyasny Asset Management, Nasdaq, Instinet and more…
The TRADE
NOVEMBER 13, 2023
Dan Childs departed from his role as managing director, head of European prime services sales, EMEA to join Balyasny Asset Management, taking on the role of head, cash and liquidity management at the hedge fund. So far Estrada’s next step is unconfirmed.
Asset management association pushes for Europe to switch to T+1 in 2026
The TRADE
OCTOBER 22, 2024
One other point was that there should be a recommendation, but not a regulatory requirement, to transition the mutual fund subscription and redemption settlement cycle to T+2 from the common T+3/4 in the UK and other popular EEA fund jurisdictions to coincide with the UK, EU and Swiss transition to T+1 in capital markets.
The TRADE announces the Rising Stars of Trading and Execution 2023
The TRADE
OCTOBER 18, 2023
The scheme has recognised numerous promising talents over the years, many of whom have gone on to expanded roles such as head of trading at some of the world’s largest asset managers and hedge funds. Find previous years’ recognised shortlists here: 2022 – 2021 – 2020 – 2019 – 2018 – 2017 – 2016 – 2015.
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Financial sector seeks delay to revising EU sustainability rules for asset managers
Global Banking & Finance
FEBRUARY 5, 2024
Financial sector seeks delay to revising EU sustainability rules for asset managers By Huw Jones LONDON (Reuters) – The European Union’s financial sector on Monday urged the bloc to delay quick fixes to how asset managers label sustainable investment funds, saying the EU executive should conclude a broader review first to ensure a “holistic” (..)
Leaders in Trading 2023: Voting now open for this year’s Buy-Side Awards
The TRADE
SEPTEMBER 29, 2023
This year’s categories have been updated slightly, and for the first time the Buy-Side Awards will celebrate a Hedge Fund Trading Desk of the Year alongside the Long Only category. The TRADE is delighted to reveal the shortlisted nominees for this year’s coveted Buy-Side Awards, in partnership with SIX Swiss Exchange.
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