Opalesque Exclusive: Total Return Futures are gaining recognition on both sides... [more]B. G., Opalesque Geneva: Since the 2008 financial crisis and as regulatory changes are driving OTC business to listed solutions, Total Return Futures (TRFs) have become a widely accepted alternative to OTC swaps for repo trading. The Eurex TRF on the EURO STOXX 50® index has been a prime exa

Franklin Templeton snags Aviva's U.S. credit strategies and team... [more]Laxman Pai, Opalesque Asia: Global asset manager Franklin Templeton has hired Aviva Investors' entire US-based investment-grade credit team as part of plans to bolster its fixed income coverage. "Franklin Resources struck a deal to acquire the strategies and track records of Aviva Investors&#

US start-ups raise $219.3bn VC funding in 8,832 deals during January-August 2021... [more]Laxman Pai, Opalesque Asia: US-based startups raked in the highest venture capital (VC) funding during January-August 2021 globally. According to GlobalData a total of 8,832 VC funding deals were announced in the US during January-August 2021, while the disclosed funding value of these deals

Hedge funds eye SPAC mergers... [more]From Institutional Investor: This is a big week for blank-check mergers. A large number of firms, including Viking, Millennium, Citadel and Magnetar, have sizable stakes in at least three deals scheduled to be completed this week. A number of previously agreed upon deals are scheduled to be appr

Great reopening trade is back as hedge funds add stock longs... [more]From Mint: With a helping hand from the Federal Reserve, the great reopening trade is staging a return on Wall Street as money managers bet the U.S. consumer won't be cowed by the delta-virus variant. Equities tied to the economic cycle including value and financials are rebounding, while inves

Terrible year for hedge fund Winton results in cuts to headcount, Hedge fund Balyasny Asset Management doubled pay in 2020... [more] Terrible year for hedge fund Winton results in cuts to headcount From eFinancial Careers: Multi strategy hedge fund Balyasny Asset Management may have had an excellent 2020, but the same cannot be said for research-driven quantitative hedge fund Winton. Results for Winton's UK-based en

New Launches: ChrysCapital set to launch $1.2bn PE fund... [more]From Indian Times: Homegrown private equity firm ChrysCapital is set to launch a fresh fund targeting to mobilise as much as $1.2 billion, looking to take advantage of a flow of institutional investment to benefit from an expected post-pandemic economic spurt in the country. The new fund, the n

Institutional Investors: Alaska Permanent discloses $887m in commitments, investments, South Carolina designates $770m for alts, Baton Rouge Employees OKs hedge fund investment, Tennessee Consolidated commits $600m to alternatives, Louisiana State Employees allots $100m to Asian fund... [more] Alaska Permanent discloses $887m in commitments, investments From PIonline.com: Alaska Permanent Fund Corp., Juneau, disclosed $887 million in commitments and investments for the quarter ended June 30, in a report from CIO Marcus Frampton included with materials for the $81.8 billion s

Citco-administered fund of hedge funds generate approx $2.5bn in net capital flows in H1 2021... [more]Opalesque Industry Update - Fund of hedge funds administered by Citco continued to demonstrate their value as an access to alternatives by delivering positive returns in the first half of 2021, thus continuing their recovery after a solid 2020. The findings from Citco's H1 2021 Fund of Hedge Fu

Investing: Natural gas hedge fund Statar suffers $130m hit, Hedge funds score taper trade hat trick... [more] Natural gas hedge fund Statar suffers $130m hit From FT: A top-performing US hedge fund specialising in natural gas has suffered a large hit to its performance this month in a sign that even commodity experts are struggling to deal with soaring prices. Miami-based Statar Capital,

SPACs: After early investors flee SPAC deals, day traders rush in, PE-backed electric car maker Polestar worth $20bn in US SPAC deal, Europe's IPO market roars back to life but where are the SPACs?... [more] After early investors flee SPAC deals, day traders rush in From WSJ: Day traders are targeting some companies that recently closed SPAC mergers, reinvigorating some of the meme-stock excitement that helped make such deals popular early in the year. The latest special-purpose-acquis

People: Sionic expands wealth practice in Geneva and London... [more]Opalesque Industry Update - Global financial services consulting firm Sionic has further expanded its multi-award-winning Wealth Management & Private Banking Practice with the appointment of two new Directors, a new Geneva base and new digital transformation services. Anja de Troyer joins as a Direc

Crypto: Why Bitcoin isn't a good market hedge, Scaramucci says most institutional investors remain hesitant to invest in crypto, Revolut to launch crypto token, The fight to control the $2.7tn crypto market is heating up, China's ban on crypto has sent traders piling into decentralized exchanges... [more] Why Bitcoin isn't a good market hedge From Institutional Investor: Bitcoin is not the equities hedge that some investors want it to be, but that doesn't mean it's not worth including in a portfolio, new research shows. A paper published in mid-September reveals that while Bitcoin

SWF: SWF industry AUM tripled to over $10tn since 2008 crash... [more]From Global SWF: The Sovereign Wealth Fund industry has experienced a dramatic growth in capital and sophistication since the Global Financial Crisis in 2008. During the past 13 years, 62 new SWFs have been established (38 of them with a strategic function), and the industry's AUM has tripled from U

Commodity: Oil prices climb with little help from hedge funds: Kemp, Commodity boom is too much of a good thing for many traders... [more] Oil prices climb with little help from hedge funds: Kemp From Reuters: Prolonged disruption to oil production in the Gulf of Mexico and multiplying signs of a worldwide energy shortage have not been enough to encourage significant new petroleum buying from portfolio investors. Hedg

Tech: Investors' preference for later stage tech deals during the pandemic is expected to continue... [more]From Institutional Investor: During the pandemic, investors hedged their risks by putting money into more mature technology start-ups, but the trend is expected to endure well beyond Covid-19. The growing interest in later stage funding rounds that started last year as a hedging tool amid Covid

U.S.: Duke University endowment posts 55.9% return... [more]From PIonline.com: Duke University's endowment returned a net 55.9% for the fiscal year ended June 30, bringing its asset size to a record $12.7 billion, said Steve Hartsoe, university spokesman, in an email. DUMAC, Durham, N.C., which manages the endowment and other long-term investment assets,

Europe: U.K. regulators propose to expand access to illiquid investments, Basis for EU corporate climate reporting standard prototype set out... [more] U.K. regulators propose to expand access to illiquid investments From PIonline.com: U.K. financial regulators issued recommendations Monday aimed at making it easier for defined contribution plan participants to invest in less-liquid assets. The productive finance working group's r

PE/VC: Football is the next big thing for hedge funds and private equity, Why some asset owners shun Asia Pacific private credit, Southeast Asian startup deals hit record number in first half, PE firms start exploring the space sector... [more] Football is the next big thing for hedge funds and private equity From Bloomberg: When AC Milan host Atletico de Madrid in the Champions League on Tuesday evening, it will be a clash between Italy's most successful team in Europe's elite soccer competition and last year's Spanish title

ESG: Norway's $1.4tn wealth fund set to enforce CO2 targets, There's a big opportunity for ESG in China, Factor investing increase driven by ESG, risk management, More investors adopt ESG within investment factors... [more] Norway's $1.4tn wealth fund set to enforce CO2 targets From Financial Post: The world's biggest owner of publicly traded stocks, Norway's sovereign-wealth fund, is about to get the political go-ahead to insist that all companies in its portfolio have clear targets for cutting CO2 emiss

Legal: Hedge fund manager sentenced to seven years for crypto fraud... [more]From BeInCrypto: A U.S. District Judge has sentenced Stefan He Qin to more than seven years behind bars for his part in a crypto fraud operation. After being convinced of his crimes back in February, Stefan He Qin has now been sentenced by the United States Attorney Office of the Southern Distri

Activists: Activist hedge fund Starboard has big stake in Huntsman... [more]From WSJ: Activist hedge fund Starboard Value LP has a more-than-8% stake in Huntsman Corp. and plans to agitate for change at the chemicals producer, according to people familiar with the matter. Huntsman has a market value of roughly $6.3 billion, making Starboard's stake worth around $500 mil

News Briefs: New Yorkers are getting together, just not on Wall Street, Margin debt nearing $1tn may not be a sign of euphoria, The SBAI continues to focus on culture and diversity in the alternatives industry publishing its principles report, Michael Burry says he was subpoenaed by SEC over GameStop stock frenzy... [more] New Yorkers are getting together, just not on Wall Street From Bloomberg: Much of New York is back in swing, with hundreds willing to get in close quarters together. It's not the same inside office buildings. Thousands from around the world have been brought together again in recent w

And, finally: File this one under Marketing Ideas Gone Wrong... [more]From Straits Times: File this one under Marketing Ideas Gone Wrong: Speech Academy Asia in Singapore planted clowns outside multiple primary schools in early September in an effort to persuade students to enroll in public-speaking courses, The Straits Times reported. In response, principals and