Opalesque

AMB :- Opalesque Exclusive: Rising Dispersion, Falling Correlations - BlackRock's Case for Holistic Diversification and Specialized Alpha

Wed, 15 Apr 2026 00:00:00 +0000

Matthias Knab, Opalesque for New Managers: BlackRock&`s freshly published Hedge Fund Outlook Spring 2026 makes a striking case: the current market environment - shaped by AI-driven disruption, supply shocks, geopolit...
Article Link

AMB :- Other Voices: The Rise of Enlightened Entrepreneurship - and the Investors Who can Support

Tue, 14 Apr 2026 00:00:00 +0000

This article is part of a growing movement. We&`re building a community of entrepreneurs and investors who recognize that capitalism&`s highest calling is not extraction, but stewardship. If you believe that...
Article Link

AMB :- SEC issues landmark guidance on broker-dealer registration for crypto trading interfaces

Tue, 14 Apr 2026 00:00:00 +0000

Matthias Knab, Opalesque for New Managers: The staff of the U.S. Securities and Exchange Commission&`s Division of Trading and Markets issued a significant statement on April 13, 2026, clarifying when operators of cr...
Article Link

AMB :- Opalesque Roundup: Investor conversations turn to portfolio resilience, limits of traditional diversification

Mon, 13 Apr 2026 00:00:00 +0000

Geopolitics dominated alternative markets this week as the Iran conflict entered its 37th day, macro funds navigated a brutal March postmortem, and a ceasefire-driven mid-week rally forced rapid short-covering across des...
Article Link

AMB :- TrustVC.org is the investor review platform VCs never wanted but founders and LPs always needed

Fri, 10 Apr 2026 00:00:00 +0000

Matthias Knab, Opalesque for New Managers: Robert Rubinstein built TrustVC.org after years of watching fake VCs, data-room poachers and phantom family offices abuse founders with impunity. Now he wants the industry to fi...
Article Link

ROUNDTABLE :- Opalesque Roundtable Series - The Bahamas 2024

Thu, 04 Jul 2024 03:22:57 +0000

In the 2024 edition of the Opalesque Bahamas Roundtable, we bring together a panel of experts to discuss the latest developments, opportunities, and break-throughs in the global financial services industry: Dr Iyandra Smith Bryan, Chief Operating Officer, Quantfury Trading Limited Delphino Gilbert Cassar, Head of Business, Development & Fintech of the Equity Group Paul Winder, Global Head of Wealth Planning, Deltec Bank & Trust Limited Antoine Bastian, Chief Executive Officer, Genesis Fund Services Limited Striking the Right Balance The Bahamas was one of the first countries to implement the FATF standards as one of only six jurisdictions of over 200 worldwide. All fund structures are also fully compliant with the OECD&'s Base Erosion and Profit Shifting (BEPS) framework and the European Union&'s economic substance requirements. When it comes to regulate digital assets, some jurisdictions have been trying to fit them awkwardly into existing securities legislation, but it&'s clear these are fundamentally different types of products and assets than traditional securities, so that approach tends to be suboptimal. The Bahamas Digital Assets and Registered Exchanges Act (DARE Act) established a comprehensive, fit-for-purpose pioneering regulatory framework for the sale, issuance, and trading of digital assets in or from The Bahamas. This is a huge differentiator because there are still very few countries in the world that have enacted bespoke legislation covering digital assets in such a thorough manner. The enhanced DARE Act will address important issues particularly around segregation of duties, managing conflicts of interest in proprietary trading, strict segregation of customer assets from company assets, and expanding the scope of regulated digital asset activities. The DARE Act takes an activities-based approach to licensing and a risk-based approach to supervision. It also tackles major emerging issues like stable coins and their reserve management. It provides clearer definitions and stratification of digital assets like utility tokens versus security tokens. This entails a classification of non- fungible tokens into distinct categories, making The Bahamas a secure, well-regulated jurisdiction for digital asset businesses. Investors queue up: How The Bahamas leads the charge in Green Finance and "Blue Carbon" The Bahamas has the world&'s largest seagrass meadows, which accounts for approximately 25% of the world seagrass.The discussion delves into the transformative potential of green finance and the Bahamas&' strategic initiatives in carbon verification and trading. The integration of carbon credits based on seagrass and the development of a robust carbon market infrastructure not only enhance the country&'s environmental stewardship but also position it as a leader in sustainable finance, which is witnessed by the massive surge of interest from major Wall Street, global firms, family offices and institutional investors who are keen to participate. The panelists give hands on guidance and insights on: Why the Bahamas DARE Act represents a comprehensive framework covering everything from token issuance, custody, and exchange operations: Page 7-10 How well-defined guidelines regarding liquidity pools and staking programs make the Bahamas trailblazers in the realm of digital asset staking: Page 11 The Bahamas SMART Fund: the true robustness of a financial services product lies in how it can survive and adapt over time and actually across generations: Page 9, 20-22. A proposal for a new Smart Fund to cover digital assets and crypto. How cellular NAV calculations at the sub-fund level bring down costs: Page 22 Small but significant amendments make the Bahamas Investment Condominium (ICON) funds even more attractive: Page 11 Green Finance: How The Bahamas, based on its massive marine and coastal ecosystems which makes the country a net exporter of blue and green carbon credits, is breaking new ground in Green Finance, meeting substantial investor interest: Page 16-19 Doing Business In A Connected World: How The Bahamas scores with highest legal standards, a new Arbitration Act, and paradisiac environments: Page 24-26 Going beyond plain vanilla in FinTech and why Private Banking isn&'t dead: Page 27-28 Confidentiality vs. privacy of personal data: Page 30-32 Why The Bahamas leads in asset protection and structuring: Page 32-33 The Bahamas permanent residency: Living in paradise starts at $500K: Page 34 We extend our thanks to our esteemed panelists for sharing their expertise and insights, and we hope our readers find this discussion informative and thought-provoking. Matthias Knab knab@opalesque.com Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - The Bahamas 2023

Tue, 03 Oct 2023 04:42:05 +0000

On July 10th, 1973, The Bahamas achieved a historic milestone by transitioning from a 300-year-long colony to an Independent Nation. As the country commemorates its 50th anniversary of independence, this Roundtable conversation starts with an examination of the factors that have elevated it to the forefront as an international financial center. "Already back in 1936, The Bahamas was at the forefront of private wealth management, although we didn&'t use that exact term," says Christina R. Rolle, Executive Director of the Securities Commission of The Bahamas. Today, The Bahamas has become one of the most established trust jurisdictions from a legislative and depth of bench of trust professionals worldwide. Its revamped Digital Assets and Registered Exchanges (DARE) Act is now also repositioning The Bahamas at the forefront of global digital asset regulation. Since gaining independence, the country has grown from a small hub for private wealth management into a full-fledged financial center. While private wealth management remains a core strength and a vital aspect of its financial services, The Bahamas kept evolving and adapting to the changing landscape, embracing the cross-border nature and interconnectedness of global financial transactions. The Smart Fund, in particular, has emerged as an iconic and popular investment vehicle over its impressive 20-year history. Its versatility and adaptability have made it a cornerstone of the globalfund industry and is also available for real estate, private equity, digital assets, and a host of other alternatives. This Roundtable also discusses: What makes the Bahamas an attractive destination for U.S. individuals planning their estates? How corporate governance, or the lack thereof, can make or break other aspects of ESG Latest updates on The Bahamas Digital Assets and Registered Exchanges (DARE) Act which will include innovative regulatory measures such as a full stable coin regime as well as conflicts of interest, custody of assets, and off-balance sheet asset holding Can SPACs be established and used in The Bahamas? A strong public-private sector partnership and talent: Why The Bahamas serves as an excellent gateway for international business and a base for a high quality lifestyle Finally, Christina R. Rolle, Executive Director of the Securities Commission of The Bahamas, is inviting all readers to join D3Bahamas, the Web 3 and FinTech Conference The Commission is co-hosting with the Government of The Bahamas Oct. 10-12, find out more at D3Bahamas.com. With: Christina R. Rolle, Executive Director, Securities Commission of The Bahamas Antoine Bastian, Chief Executive Officer, Genesis Fund Services Christel Sands-Feaste, Partner, Higgs & Johnson Chris Illing, Chief Commercial Officer, ActivTrades Corp; Honorary Consul of the Federal Republic of Germany in The Bahamas Katherine A. Elza, Partner, GrahamThompson Paul Winder, Global Head of Wealth Planning, Deltec Bank & Trust Limited Dr Iyandra Bryan, General Manager, Quantfury Trading Wendy Warren CPA, Managing Director, Caystone Solutions Enjoy! Matthias Knab knab@opalesque.com Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - The Bahamas 2022

Mon, 01 Aug 2022 19:32:54 +0000

The Bahamas&' Pioneering Legal Groundwork for Digital Assets Industry Roundtable & Interactive Webinar with Christina R. Rolle, Executive Director, Securities Commission of The Bahamas In a previous Opalesque Roundtable we examined how "tiny" Bahamas was able to beat global giants in the Central Bank Digital Currencies (CBDC) race when in 2019 it launched its "sand dollar" - a digital version of the Bahamas Dollar and controlled by the central bank - effectively beating China&'s "digital renminbi" by six months. PricewaterhouseCoopers (PwC) has given the Sand Dollar the highest ranking - above even China&'s digital yuan - in a report ranking Central Bank digital currencies. We have all witnessed the explosive growth of virtual currencies and the need for a jurisdiction like The Bahamas as an international financial centre with a considerable wealth management focus to equip itself with compliant and competitive legislation to participate in the digital asset space. In a consequential next step, the passage of the Digital Assets and Registered Exchanges Bill (DARE Bill) in 2020 has put in place the legal framework for a vital, well-regulated and compliant industry in The Bahamas for those interested in entering the digital asset space. When the Bahamas Government issued a groundbreaking white paper in 2022 called "The Future of Digital Assets in The Bahamas", investors and players in the digital assets industry globally took notice as the paper included a five-year plan for the industry. The paper is not only opening the door to accept the new payment systems that are coming, but foremost, the Government&'s outspoken long-term commitment provides the certainty that clients and businesses need to strategically plan and execute their digital assets business. All in all, by 2022, The Bahamas has managed to lay a wide regulatory foundation for digital assets. This includes the facilitation of digital token exchange registration and the provision of services related to them, the regulation of digital assets- based payment service businesses, and for the registration of financial services related to the creation, issuance or sale of digital tokens and other digital assets. Get first hand insights in this transcript from the panelists of the 2022 Opalesque Bahamas Roundtable: Christina R. Rolle, Executive Director, Securities Commission of The Bahamas Alexander M. B. Christie, Partner, McKinney, Bancroft & Hughes Valdez K. Russell, Vice President of Communications & Corporate Social Responsibility, FTX Digital Markets Chris Illing, ActivTrades Corp, Honorary Consul of the Federal Republic of Germany inThe Bahamas Wendy Warren CPA, Managing Director, Caystone Solutions Tanya McCartney, CEO & Executive Director, The Bahamas Financial Services Board Christel Sands-Feaste, Partner, Higgs & Johnson ... and make sure to register for the interactive Opalesque Webinar with the Securities Commission of The Bahamas THE BAHAMAS&' FRAMEWORK FOR DIGITAL ASSETS BUSINESS SEPTEMBER Wednesday, Sept. 28th 11 am ET - free registration: https://www.opalesque.com/webinar/#uw2 with Christina R. Rolle, Executive Director, Securities Commission of The Bahamas to enjoy an in-depth look at the business and regulatory environment for digital assets in The Bahamas and how the jurisdiction is taking steps to maintain and enhance this environment. Themes to be covered: Overview of The Digital Assets Policy White Paper Overview of the DARE Act The registration process - who can participate? Reporting and Disclosure Requirements Investigation and Cooperation Offences and Penalties AML/CFT and DARE Investor Protection Elements What differentiates the Bahamas&' digital assets regulatory framework from that of other countries Enhancements to the Regulatory Framework On the Horizon The webinar is LIVE and interactive, so you can ask questions any time. The session will be recorded, so please register, also if the time does not work out: 24 hours after the webinar, we will mail a user friendly video replay of the session to all registrants. Wednesday, Sept. 28th 11 am ET - free registration: https://www.opalesque.com/webinar/#uw2 Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - The Bahamas 2021

Wed, 23 Jun 2021 14:02:43 +0000

Since 2019, The Bahamas is the global leader in e-money when it launched its "sand dollar" - a digital version of the Bahamas Dollar and controlled by the central bank - effectively beating China&'s "digital renminbi" by six months. PricewaterhouseCoopers (PwC) has given the Sand Dollar the highest ranking - above even China&'s digital yuan - in a report ranking Central Bank digital currencies. Why The Bahamas? But this stunning feat wasn&'t just a PR gag to highlight the island jurisdiction&'s commitment to innovation. The Bahamas is an archipelago consisting of 700 islands scattered across 470,000 km2 (180,000 square miles) of ocean space in the Caribbean. The challenges for payment systems using physical cash for such a vast archipelago are understandable. As anywhere else, banks have been scaling back the brick and mortar infrastructure over the past years. The GDP of the Bahamas per capita income is the third highest in the Americas after the US and Canada, with a 90% penetration for mobile devices, making the country an ideal ground for the release of the world&'s first CBDC. In addition to ensuring a reliable and safe payment system that&'s available a 24/7 to all Bahamas residents, the Sand Dollar is not only meant to modernize the payment system but also to improve financial inclusion, reduce service delivery costs, increase transactional efficiency, and make private wallet systems interoperable. A Giant in Financial Services While The Bahamas may be counted on the smaller side of countries (ranked 155 in terms of landmass of 195 countries, behind Kuwait (152) or Israel (149) and rank 170 in terms of population, behind Malta (167) but before Iceland (172)), the island jurisdiction has been and will continue to be a giant in financial services: The Bahamas SMART Funds are internationally a popular and well-established solution particularly in the private client space The new Bahamas Digital Assets and Registered Exchanges (DARE) Act is considered a "monumental" piece of legislation as it strikes a fine balance between innovation and a robust regulatory framework The new Bahamas Commercial Enterprises Act has been designed attract and foster certain industries in The Bahamas - including captive insurance, reinsurance, mutual fund administration and wealth management Location, Location: A trade and wealth management hub conveniently accessible for onsite inspections and meetings. A stunning tourism, highly coveted domicile and operational base for family offices and many other types of organizations. More ultimate beneficial owners and directors of those entities will move to The Bahamas to create certainty with respect to fulfilling the substance requirements. A firm commitment to ease of doing business: As Elsworth Johnson, Minister of Financial Services, Trade & Industry and Immigration explains in this Roundtable, ease of doing business is not just a concept but brought to fruition through an aggressive public sector digitization initiative And the People: Friendly and professional, with a wealth of knowledge and experience who have been in the industry for very significant periods of time, or have chosen to relocate to The Bahamas. That wealth of experience spans not just one particular pillar of financial services but all pillars - banking, trust, insurance and securities. Enjoy and hopefully "see you" soon in The Bahamas! Matthias Knab Knab@Opalesque.com Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - Jersey 2021

Mon, 10 May 2021 13:52:16 +0000

Brexit, substance and transparency requirements, which have resulted in increased regulatory and reporting burden, and also increased cost and uncertainty, have put different jurisdictions to test in different ways over the past years. At the same time, we have seen jurisdictions blacklisted and gray-listed and more political uncertainty in general. Sadly, blacklisting ends up having consequences, particularly when EU investors are involved. All managers will try to avoid utilizing a jurisdiction where there could be surprises, like a blacklisting or a change of regulation from an unpredictable government. When evaluating jurisdictions, a manager should understand if the jurisdiction has the ability to absorb these waves without disruption to their structures. Rather than being reactive to the onslaughts of global regulations, Jersey, as a leading financial hub and fund jurisdiction, has adapted and strengthened its proactive positioning: "Are you positioned well enough to anticipate what's coming?" is a question the top service providers and agents of change are asked and able to address, given the deep and diversified talent pool and industry infrastructure. The Future Jersey took the lead and established itself as a crypto-friendly jurisdiction when Jersey's regulator approved the launch of the world&'s first regulated Bitcoin investment fund in 2014 and the world's first listing on The International Stock Exchange of the Global Bitcoin Fund in 2016, as well as a number of initial coin offerings. Right now, Jersey is - again, pro-actively - positioning itself as the leading ESG hub. This Roundtable explains Jersey&'s approach and what this new paradigm really means for investors, managers and corporations. On the structuring side, Jersey is making significant progress with introducing its Limited Liabilities Companies Law (LLC), which is designed and modeled on Delaware, as an additional product on offer that US lawyers and managers are familiar with. This is another expression of Jersey&'s focus on 'plug and play': the ability to set up a vehicle and either plug it into your existing structures or add it with a minimum of work. At the moment, roughly 19% of outward bound investment from the US goes to Africa. The Jersey Government views Africa as an engine for future growth globally and has been building treaty networks across the continent, to position Jersey as a central hub for US / Africa finance links. All in all, Jersey presents a very strong proposition and a credible option, particularly for US and also Asian fund and investment managers, who are considering setting up a manager with a full presence, through a 'managed entity' solution, or a hybrid of both. It is globally recognized as a suitable jurisdiction with appropriate regulation and a good choice of fast-track innovative fund products, for example, the Jersey private fund with a 48-hour authorization procedure. The onus is put on the regulated service provider, who deals with the fund and manager compliance aspects, so this doesn't impact on the managers too much, leaving them free to focus on the investments. Managers wishing to set up a full presence on the island will find themselves in good company as dozens of hedge and private equity fund managers have recently relocated to Jersey, enjoying an extraordinary quality of life, and - not exactly trivial these days - the world&'s second fastest broadband speeds. Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - INNOVATION

Thu, 17 Dec 2020 11:45:35 +0000

The Great Disruption: Innovation, Digitization & Multiplicity of Value Systems Welcome to Opalesque&'s 221st Roundtable - 18 million Roundtable PDFs distributed since 2008 Innovation in Fintech happens in many different areas, in things like payment systems, block chain, digital assets, robo-advisors, lenders, crowd funding, with a number of factors driving progress and new developments. One of these factors is an improvement in algorithms, another one is hardware. Hardware is what makes the block chain possible, for instance. If algorithms have improved by a factor of ten, hardware has improved by a factor of a hundred. But the third factor is what&'s really driven innovation: data. If hardware has improved by a factor of 100, you could say that the availability of data has improved by a factor of 10,000. But we should monitor innovation also outside of finance. One area that&'s particularly fascinating at the moment is deepfakes where you already can, for example, listen to Frank Sinatra songs that Sinatra never performed. If you can imagine a deepfake in the financial world, it could create chaos like we&'ve never actually seen. Ultimately, innovation is impacted by the underlying value paradigms. The new digital peer-to-peer environment allows new conceptualizations and expressions of value. While Bitcoin may not be the final answer for cryptocurrency it does allow us - even challenge us - to think and speak in terms of "extrusive" value creation as opposed to the extractive models that are winding themselves down in a changing world. When you get to this community or "human-based" value shift - here we talk about value extrusion or amplification - then you actually change the nature of money itself. However, when it comes to the fiat versus digital currencies discussion, maybe it&'s not one or the other but instead both could co-exist, however within different domains and purposes. Digital exchanges, where this multiplicity of value systems can converge, are only going to grow in volume and relevance. This Opalesque Roundtable, sponsored by BVI Finance, took place virtually with: Hannah Terhune, Chief Legal Officer - Capital Management Law Group Lisa Lou, President - Bank of Asia (BVI) Rebecca Jack, Senior Associate - Appleby Denis de Montigny, PhD, CFA, CPA, Founder and CEO - FinSpark Lodewijk Van Setten, Senior Counsel - Walkers Rik Willard, Founder & Managing Director - Agentic Simon Gray, Head of Business Development and Marketing - BVI Finance The group also discussed: Why the BVI is the sweet spot for the crypto sector at the moment (page 16). Why the BVI Incubator Fund enjoys massive traction with the hedge fund industry (page 11, 14, 20). The attraction of BVI Approved Funds for family offices and innovators (page 14) and Private Investment Fund regime for VC and PE (page 11) Understanding TikTok and the real reason it got into trouble in the US (page 6) The Digital Banking revolution (page 8-9) Usefulness and differences of Sandbox regulatory regimes (page 9-11, 13, 18). Which legal deficiencies should founders "clean up" before approaching any Sandbox? (page 10) The "real value" concept (page 9, 17) and why Bitcoin isn&'t the final answer for cryptocurrency (page 12). Why money will bifurcate into at least two distinct forms of value (page 15-16) How to avoid getting "Zuckerberged". Stay cautious: Many lawyers do not know how to protect the "real value" because they barely understand it (page 17) Innovation in startups vs. larger firms (page 13) Why the regulated world (and the tax man) struggle with decentralized offerings. Innovations with block chain-based KYC (page 18-19) How universities and research hubs can effectively de-risk innovation while protecting intellectual property for later commercial exploitation (page 20-21) Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - The Bahamas 2020

Wed, 29 Jul 2020 13:48:15 +0000

Well before the Second World War, The Bahamas was already seen as a desirable place for persons with wealth to come and live. The Bahamas&' financial services industry didn&'t come first: what really came first were those persons of mobile capital and being able to afford to live at a place of their choosing. Almost 100 years later, the country is very mature in having maintained and expanded its financial services infrastructure, while, of course, still being an obvious place for persons choosing to relocate for many reasons, whether it be the expertise offered to support wealth management, climate, lifestyle or just simply the location. The Bahamas is in close proximity to major centers around the world and midway between Latin America and North America. Insiders report a steady influx of family offices setting up in The Bahamas. The Bahamas: A Safe Harbour The COVID-19 experience has also shown that the archipelago can offer a certain element of security as people can potentially stay somewhat insulated from the possible ravages of international pandemics. To date, The Bahamas has been managing the response to the COVID19 pandemic well. During the lockdown period throughout the archipelago a considerable number of yachts moored from various places around the world where people chose to come to The Bahamas because they saw it as a place of refuge. We also know that a substantial number of global citizens reside in The Bahamas, and many of them chose to be in The Bahamas to wait out the pandemic. At the same time, The Bahamas remains open for business - the international banks and trust companies never stopped operating. Local advisors and lawyers helped clients take steps to transition or amend their fund structures, to service and prep their businesses, maybe making some changes adapting to the pandemic, to revise corporate planning, and possibly a bit more assisting family offices in doing, for instance, some planning around medical needs. The Bahamas has a land mass of 3865 square miles or 10,010 km and thus slightly smaller than Connecticut offering options and choices as premises are available for leasing, for renting, or to purchase. This makes it much simpler in The Bahamas to be compliant with the substance requirements because the infrastructure is in place, and there is availability of appropriate property and personnel. New regulatory initiatives find international traction More funds and fund managers are taking advantage of the Bahamas&' new Investment Funds Act which is compliant with all international standards - FATCA, IOSCO, and also with the EU - while permitting that the fund&'s administrator can be anywhere in the world. In addition, The new Bahamas Commercial Enterprises Act allows companies from different sectors such as wealth management, advisory to FinTech to start operating on an expedited or fast-tracked basis with incentives around access to work permits. A new Digital Assets and Registered Exchanges Bill is in the works to solidify the legal framework for FinTech business. After extensive benchmarking, engaging with other regulators as well as local stakeholders in the trading space in an effort to develop a robust regulatory framework, The Bahamas implemented rules with respect to contract for differences and leverage ratios and has since attracted firms to open new, regulated entities in Nassau to better reach emerging markets. The Opalesque 2020 Bahamas Roundtable took place online with the following panelists: Christina Rolle, Executive Director, Securities Commission of The Bahamas; Vice-Chair, IOSCO Inter-American Regional Committee Christel Sands-Feaste, Partner, Higgs & Johnson Linda Beidler-D&'Aguilar, Partner, Glinton Sweeting and O&'Brien John Delaney QC, Senior Partner, Delaney Partners John Wilson QC, Senior Partner, McKinney Bancroft & Hughes Brendan Davis, Business Development Manager, ActivTrades Corp Tanya McCartney, CEO & Executive Director, The Bahamas Financial Services Board Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - 2020 Investor Roundtable

Tue, 02 Jun 2020 10:31:29 +0000

The S&P 500 has now rallied +41% in ten weeks. This rally is greater in percent terms than the -36% plunge that took place in 5 weeks and has taken place during some of the worst reported economic data in US history. Looking back, there are of course many differences to the other two big financial crises of the past 20 years, but one of the most striking to me is the increase in velocity. The dotcom crash unfolded in March 2000 and lasted for 929 days with equities losing 48.6% in aggregate. This corresponds to a 1.6% average loss per month. The Financial Crisis of 2007-2008 went on for 517 days at a 55.2% loss. The average losses per month were 3.2%, so twice as fast as the previous one. This time around with the coronavirus led meltdown, the losses happening in just one month, which is 20 times faster than the dotcom crash and 10 times faster than the financial crisis of 2008. We all have experienced first hand how the COVID-19 pandemic has fundamentally affected how we live, do business, and invest. This Opalesque Investor Roundtable, sponsored by Weaver, is looking at how leading investors experience these events in 2020 and how they react to it. Of course, at some point, we&'ll see a recovery from the global economic impact of this coronavirus, but the world will have changed with a new normal emerging - but how will that look like? The future is here The long-term impact of the 2020 pandemic is going to be the dramatic acceleration of people thinking long-term and starting to really bring about a different future. Think back to January and ask yourself whether you could have conceived any way at all to get the entire world - in 30 days - to start using Zoom for business meetings or deal with almost all commercial airplanes being grounded. You couldn&'t have figured out a way to do it. But now, all of a sudden, it&'s here. After the 1918 pandemic we had the roaring 20s. Will we be entering something similar, or maybe a cross between what happened in Japan in the 90s: A time with more innovation, more art, more science? Learn from: Peter Fletcher, Managing Director, PHF Capital; Founder & Chairman, Club b David S. Rose, Managing Partner, Rose Tech Ventures; CEO, Gust Lisa Head, Partner-in-Charge, Investment Fund Tax Services, Weaver Cedric Kohler, Head of Advisory, Fundana Christopher Beres, Vice President, Investment Oversight, Nuveen Insights about: Which structural instabilities "baked in to the market, but not readily apparent" is the current crisis revealing now? (page 12-13, 22) How and why a large hedge fund investor managed to go through this crisis relatively serenely (page 7,8) Valuations in private funds vs. public funds: Who&'s right? (page 14) Hedging and Diversification. What&'s the best hedge? CTAs and trend following strategies (page 15) What is the calculus for angel and (seed) venture capital investors today? (page 8,9) Exponential technologies (page 13, 25-26), The single biggest result of the pandemic (page 13, 20-21) Where is real estate going? Challenges and pockets of growth (page 11-12) Fundraising in 2020: Why the current environment is not too bad for emerging managers but fundraising a challenge, opportunities for L/S equity (page 9-11, 18-19, The World of Family Offices (FO) in 2020: The top six macro and geopolitical themes for single family offices (page 16-17, 19-20). Concerns about debt and inflation (page 11, 24) How FO invest, FOs to seed hedge funds again (page 11, 19) Why ESG finally took off in the US. 80% of hedge fund managers have nothing within the ESG space: Problem & opportunity. ESG in the early stage world (page 22-24) Facial recognition, globalization, and how to invest in a world where "if something can be done, it will be done" (page 24-26) Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - Miami 2020

Wed, 22 Jan 2020 10:03:33 +0000

In the future, every stock, every bond, every currency, every commodity and more assets will be digitized and cryptographically secured on a blockchain. But, not only that: whoever is first to issue the digital currency has the chance to usurp the dollar as the global World Reserve Currency. At the moment, only 8% of global trade is United States based, but a staggering 60% of global trade is priced in dollars. This touches the question of sovereignty and global dominance. The US may therefore have a digital currency quicker than we think. China has been working on a Central Bank Digital Currency since 2014, and so in the West some say maybe Libra isn&'t that bad an idea... However, while we are still in the protocol consolidation stage when it comes to the question of the future of money, this group believes that after a number of transitions, a non-fiat-backed digital currency will ultimately be the winner in this end game of global currencies. "Every single thing is being disintermediated" There is an undisputed movement towards using blockchain and cryptocurrency along with hard assets in an alternative form of monetary instrument. With that, the current world order how assets and value are stored and transacted and how marketplaces operate will go through revolutionary changes. Blockchain is basically a new structure of solving problems through autonomous software with an unprecedented ability to incentivize networks. The technology is an evolution of computing power that&'s been happening on a 14-year cycle since the 1950s. We saw the mainframe in &'54, the microchip in &'68, the personal computer in &'82, the Internet in &'96, the Mobilenet in 2010, and for 2024 Mark Yusko predicts the emergence of the "Trustnet" where the blockchain network and DLT technology allows us to trust one another in transactions without an intermediary or third party. If you take a look at what&'s happening to society, every single thing is being disintermediated - from retail sales, to travel agents, to real estate brokers, to wealth managers... to absolutely every single thing. As you get more and more artificial intelligence built into more and more marketplaces, with more and more assets and products and services available online, the world turns upside down, with most profound consequences. The following experts participated at the Opalesque Miami Digital Assets & Cryptocurrency Roundtable, sponsored by the Miami Downtown Development Authority: David S. Rose, Founder & Executive Chairman, Gust Evan Malanga, Director, Securitize Gary R Markham, CEO, aXpire Gregory Keough, Founder, Blockchain Credit Partners Marcelo Sampaio, Co-Founder & CEO, Hashdex Mark Yusko, Founder, CEO and CIO, Morgan Creek Capital Management The group also discussed: The future of marketplaces. How Millennials will select a deal or an investment and how this will change finance. Where disintermediation will take us. (How) can financial advisors charge high fees in the future? (page 22-25) Decentralized Finance & the Digital Divide. What will be the first real killer app for blockchain? (page 22-24, 26-28) Of the 775 fiat currencies that existed, not one has held its value over the test of time. Is Bitcoin the solution for this monetary challenge? Why a 98.5% loss in value is the best actual use case of a fiat currency (page 8-11). Why cryptocurrencies need their "Netscape moment" (page 20) Why Libra is not a cryptocurrency and almost not even a digital currency, but essentially a money market fund (page 19) Could we have like 20,000 (or more) nations in the future? How and why Technological Singularity will change the world (page 21) Enjoy! Matthias Knab Knab@Opalesque.com Download - Article Link

ROUNDTABLE :- Opalesque Roundtable Series - DIVERSITY

Fri, 06 Dec 2019 14:13:38 +0000

It&'s all about the data! But when it comes to diversity, the data is all there, but nobody acts on it. The asset management industry purports to be a meritocracy where companies, founders and investment managers that produce strong returns would (easily) attract additional capital, but the reality looks different. Despite an ever increasing pile of data and studies on overperformance of diverse teams and founders - the VC industry has had the numbers for 20 years, HBR has a large collection of studies and the Nordic banks have done a study of thousands of female CEOs - people are not changing their behavior. Three decades after the first efforts to achieve more diversity in the finance sector, 98% of the $69tn industry is still under the control of white men. In fact, investors in UK funds are more likely to have their money managed by a man called David than a woman. If diversity brings outperformance, then traditional ways lead to underperformance. This discussion is therefore much more than a social justice conflict. Despite all the talk around diversity, the problem runs very deep and in the end touches on everyone&'s personal beliefs. Harvard and Wharton professors showed that with the identical pitch, good-looking men outperformed bad looking men, and bad looking men outperformed women. Bad looking women slightly outperformed good-looking women, but it was within the margin of error. Knowing that both female and male investors (!) select pitches by gender and by looks - why on earth would you use an investing process that selects the best looking men rather than the best company? How comes we still assume that blond women are dumb in some shape or form and that pretty women always get by being pretty? At the same time, workplace data shows that women who support and encourage other women get penalized at performance reviews and pay reviews. There&'s still a lot of ground to cover, but also clear signs of progress. In this Roundtable we set out to explore why we are still stuck - why it is so hard to change the paradigm and modus operandi of a whole industry, and what measures and processes do help (hint: hard rules, see page 13, 23, 25). The 2019 Opalesque Diversity Roundtable took place in London with: Amanda Pullinger, CEO, 100 Women in Finance Anya Navidski, Founding Partner, Voulez Capital Christiane Schonbach, Partner, WTS Hannah Czerkawska, HR Director - Investment Management, Fidelity International Dr. Ilga Haubelt, Head of Equity Opportunities, Newton Investment Management Kamal Hassan, Partner, Loyal VC The group also discussed: Why the prevalent investment selection processes are mostly dysfunctional, reward irrational self-confidence and fall for numerous biases: Traditional pitching formats (Shark Tank, Lion&'s Den etc.) will mislead most investors into the wrong investments. Should investors take money off from non-diverse teams? (page 4, 9, 26)Terms, culture and unhealthy power dynamics are deterring female founders to work with traditional VC. Where they go instead (page 11, 26)"If you hire more women, then more women will be funded" - but that isn&'t happening either. Why, and how to change that (page 10, 33). What are female investors actually looking for? (page 34) Why relationships trump performance and what to do about it (page 7)The lack of role models and how to overcome it (page 7, 13, 17, 21, 28)What do five-year-olds already learn about gender roles? All-girls vs. mixed schools. How 100 Women in Finance inspires teenagers to become a portfolio manager when they grow up (page 8-9, 17)What can asset management learn from a music audition? (page 13)The incredibly shrinking female workforce: Why is a baby a problem, exactly? (page 29). How to retain highly educated women and deal with peer pressure when you prefer working over staying at home (page 17). Why a UK pension hired a senior female investment manager who had been out of the job for 10 years (page 25). The challenge of female drop-offs making it to growth-stage ventures (page 28)"Being diverse" is in itself not a competitive advantage. There&'s something else that makes the difference between very successful or very unsuccessful (page 30)Redefining Impact and ESG as an opportunity rather than a compliance obligation (page 32) Download - Article Link

Opalesque Exclusive: Rising Dispersion, Falling Correlations - BlackRock's Case for Holistic Diversification and Specialized Alpha

Wed, 15 Apr 2026 00:00:00 +0000

Matthias Knab, Opalesque for New Managers: BlackRock's freshly published Hedge Fund Outlook Spring 2026 makes a striking case: the current market environment - shaped by AI-driven disruption, supply shocks, geopolitical volatility, and accele...
Article Link

Other Voices: The Rise of Enlightened Entrepreneurship - and the Investors Who can Support

Tue, 14 Apr 2026 00:00:00 +0000

This article is part of a growing movement. We're building a community of entrepreneurs and investors who recognize that capitalism's highest calling is not extraction, but stewardship. If you believe that business can - and must...
Article Link

Opalesque Roundup: Investor conversations turn to portfolio resilience, limits of traditional diversification

Mon, 13 Apr 2026 00:00:00 +0000

TrustVC.org is the investor review platform VCs never wanted but founders and LPs always needed

Fri, 10 Apr 2026 00:00:00 +0000

AMW :- Opalesque Roundup: Investor conversations turn to portfolio resilience, limits of traditional diversification

Sat, 11 Apr 2026 00:00:00 +0000

AMW :- Opalesque Roundup: Emerging royalty asset class quietly offers investors something rare

Sat, 04 Apr 2026 00:00:00 +0000

Iran war-driven volatility delivered the worst hedge fund drawdown since 2022, reshaping positioning across every major strategy even as a handful of managers capitalised on the dislocation.Capital rotated sharply into safety assets and energy, private credit faced fresh redemption pressure, and an ...
Article Link

AMW :- Opalesque Roundup: War, Fraud and Record Capital - how the Iran shock separated the hedged funds from the exposed

Sat, 28 Mar 2026 00:00:00 +0000

Opalesque Exclusives Rising Tide No More: How Ironshield Stays Positive When Everything Else Falls In one of the weekamp;amp;'s most striking performance stories, Ironshield Capitalamp;amp;'s market-neutral High Yield Alpha Fund UCITS remained in positive territory throughout the March 2026 Iran...
Article Link

AMW :- Opalesque Roundup: Alpha in the Blind Spot - 143% Returns in Markets Nobody Covers

Sat, 21 Mar 2026 00:00:00 +0000

War dominates markets. The US-Iran conflict continued to define conditions across hedge fund strategies this week, forcing crowded positions to unwind, sending crude oil sharply higher, and compelling fund managers to reassess risk models built for calmer environments. Yet as the chaos deepens, a cl...
Article Link

AMW :- Opalesque Roundup: Crowded trades, costly lessons: Iran war reshapes hedge rund rankings

Sat, 14 Mar 2026 00:00:00 +0000

Fraud Hijacked Board: How the CFA Institute Betrayed Its Own Gold Standard In a forensic investigation published March 13, Opalesqueamp;amp;'s Matthias Knab examines allegations of fraud, captured board governance, and strategic drift at the CFA Institute -- the guardian of what has long been finan...
Article Link

AMW :- Opalesque Roundup: US-Iran conflict threw hedge funds in the UAE into contingency mode

Sat, 07 Mar 2026 00:00:00 +0000

A week defined by geopolitical shock and financial stress. The escalation of the US-Iran conflict threw hedge funds in the UAE into contingency mode, unravelled crowded emerging market positions built up over months, and exposed the fragility of the classic 60/40 portfolio. Elliott Management cement...
Article Link

AMW :- Opalesque Roundup: The Fund of Hedge Funds Tripling Its Benchmark Since 2009

Sat, 28 Feb 2026 00:00:00 +0000

HeadStart: The Fund of Hedge Funds That Tripled Its Benchmark Since 2009 This weekamp;amp;'s standout exclusive from Opalesque profiles London-based HeadStart Advisers, whose fund of hedge funds has returned 312% since 2009 against 112% for the HFRIFOF Index - and 188% for the HFR Fund-Weighted C...
Article Link

AMW :- Opalesque Roundup: Fraud Alerts, Short Data, Private Markets and a 28-Year Farewell

Sat, 21 Feb 2026 00:00:00 +0000

This report draws on daily intelligence and exclusive reporting from Opalesque.com - the leading source of hedge fund and alternative investment news globally. Visit opalesque.com to subscribe to the Alternative Market Briefing and all Opalesque publications. In This Edition Opalesque...
Article Link

AMW :- Opalesque Roundup: Hedge funds enter 2026 with considerable tailwind

Sat, 14 Feb 2026 00:00:00 +0000

This week in alternative markets: Hedge funds carry strong momentum from double-digit 2025 returns into the new year, but an intensifying AI valuation debate is forcing managers to navigate between opportunity and crowding risk. Capital flows are turning positive again with the SSamp;amp;C GlobeOp ...
Article Link

AMW :- Opalesque Roundup: Macro hedge funds dominate January returns as volatility drives performance

Sat, 07 Feb 2026 00:00:00 +0000

Macro hedge funds captured exceptional returns during Januaryamp;amp;'s volatile market conditions, extending the strong performance momentum that defined 2025. Haidar Capital posted a remarkable 19 percent gain for the month, capitalizing on sharp movements across rates, foreign exchange and commo...
Article Link

Bow River Capital acquires Spur Capital Partners