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28 Sep. 2018 BNY Mellon rebrands $550bn asset management unit in North America as Mellon [more]
Laxman Pai, Opalesque Asia: BNY Mellon Investment Management's U.S. multi-asset manager will be branded Mellon effective on January 2, 2019. The mega-boutique new unit with $549.8 billion in total assets is formed from the merger of Mellon Capital Management, Standish Mellon Asset Management
28 Sep. 2018 SEC goes after Musk following Twitter episode [more]
Bailey McCann, Opalesque New York: The Securities and Exchange Commission has charged Tesla CEO Elon Musk following a series of tweets in which he threatened to take his company private and claimed funding was secured. It was later discovered that no formal discussions had taken place and funding
28 Sep. 2018 Falcone's Harbinger settles with New York on tax evasion [more]
Bailey McCann, Opalesque New York: Harbinger Capital Partners Offshore Manager, the offshore arm of hedge fund Harbinger Capital Partners has come to a tax agreement with New York State tax authorities. According to New York Attorney General Barbara Underwood, the offshore fund earned incen
27 Sep. 2018 Swiss Startup by former UBS bankers net $103m to build a Crypto Bank [more]
Laxman Pai, Opalesque Asia: Switzerland-based startup SEBA Crypto AG, a financial services company run by former UBS bankers, has raised 100 million Swiss francs ($103 million) to establish a bank offering cryptocurrency-related services. The Zug-headquartered company, headed by former ex-UBS
27 Sep. 2018 North America leading fall in institutional investor confidence with -7.5 points decrease in State Street Investor Confidence Index [more]
Laxman Pai, Opalesque Asia: The Global Investor Confidence Index (ICI) decreased to 88.3, down 5.7 points from August's revised reading of 94.0, according to a press release from State Street Global Exchange. Confidence among North American investors further declined, with the North Ameri
27 Sep. 2018 Crypto hedge funds platform AKJ Crypto launches AKJ Token for institutions and professional investors [more]
Laxman Pai, Opalesque Asia: The platform for crypto hedge funds AKJ Crypto has launched AKJ Token, intended to become the vehicle of choice for professional investors seeking diversified exposure to crypto assets. According to the AKJ Crypto's press statement, the AKJ token is a multifaceted
27 Sep. 2018 BNY Mellon's Lockwood Advisors adds 54 portfolios to its Managed360 program [more]
Laxman Pai, Opalesque Asia: BNY Mellon's Lockwood Advisors has added 54 portfolios, across nine model portfolio ranges from six different asset managers, to its Managed 360 program. With these new additions, Lockwood nearly doubled the number of strategists and underlying model portfolio
27 Sep. 2018 BeQuant Cryptocurrency exchange launches in Malta [more]
Laxman Pai, Opalesque Asia: BeQuant Exchange, the cryptocurrency exchange for institutions and active traders, has announced the launch of its operations in Malta and opening of its new office on the island. BeQuant Exchange's Malta division, located in the heart of Malta's business district
26 Sep. 2018 Side letter study: Decline in fee discounts in the hedge fund landscape [more]
Opalesque Industry Update - A new study into the hedge fund industry's use of side letters-special agreements between hedge funds and their investors-shows a major shift in the hedge fund landscape. In the Seward & Kissel 2017/18 hedge fund side letter study the percentage of side letters contai
26 Sep. 2018 Google to allow advertisement for some regulated cryptocurrency trading sites [more]
Laxman Pai, Opalesque Asia: Alphabet Inc's Google is ending its sweeping ban on cryptocurrency-related advertising and said it would allow certain regulated cryptocurrency exchanges to advertise in the United States and Japan. In a new update to its advertising policies, Google emphasized th
26 Sep. 2018 Nearly two thirds of limited partners (LPs) to increase their allocation to alternatives [more]
Laxman Pai, Opalesque Asia: Alternative investments will be critical to long-term objectives with two-thirds of surveyed global limited partners (LPs) saying they expect to increase their allocation to the strategy for the remainder of 2018 and into 2019, said a new survey. The respondents o
26 Sep. 2018 JPMorgan blockchain payments project recruits 75 banks [more]
Laxman Pai, Opalesque Asia: JPMorgan's payment project based on blockchain technology designed to speed up the exceptions process has welcomed more than 75 banks that are ready to participate in trials. The platform titled, 'The Interbank Information Network' (IIN) would be one of the
25 Sep. 2018 Alternatives now constitute nearly half of the average family office portfolio: UBS Survey [more]
Opalesque Industry Update - UBS, in partnership with Campden Wealth Research, has today launched its annual report on family offices globally. The Global Family Office Report 2018 surveyed principals and executives in 311 family offices around the world, with an average size of USD 808 million
25 Sep. 2018 Unigestion expands cross asset solutions team with two manager hires [more]
Laxman Pai, Opalesque Asia: Boutique asset manager Unigestion has hired two investment managers for its cross asset solutions team, joining from Bridgewater Associates and EQ Investors. A press release from the $24.9bn boutique asset manager said that Salman Baig joined the firm in March from
25 Sep. 2018 Bank of New York Mellon to shutter hedge fund investment subsidiary EACM [more]
Laxman Pai, Opalesque Asia: BNY Mellon Investment Management, the Bank of New York Mellon Corp's asset manager, has announced its intention to close EACM Advisors, its multi-manager and fund of hedge funds investment manager based in Norwalk, Connecticut. As a fund-management subsidiary
25 Sep. 2018 Victory Capital to acquire $12bn alts specialist Harvest Volatility Management [more]
Laxman Pai, Opalesque Asia: Multi-boutique asset manager Victory Capital has agreed to acquire the $12 billion derivative specialist Harvest Volatility Management for $300 million, making it 10th boutique purchased by Victory. The transaction was financed through a combination of debt, equity
25 Sep. 2018 Cryptoassets do not pose a global financial stability risk, says BIS [more]
Laxman Pai, Opalesque Asia: A new report from the Bank of International Settlements (BIS) urges regulators to keep a close eye on the emerging Cryptoassets industry while acknowledging that it's currently not a risk to the global financial system. The report pointed out: "While cryptoassets
25 Sep. 2018 HedgeMark closes in on $17bn in platform assets, surpasses 100 active client accounts [more]
Laxman Pai, Opalesque Asia: The hedge fund dedicated managed account (DMA) platform unit of BNY Mellon, HedgeMark Advisors, has announced that it recently surpassed 100 active client DMA funds, marking a significant milestone in the firm's growth since beginning its service in September of 20
25 Sep. 2018 CalPERS names next CIO [more]
Bailey McCann, Opalesque New York: CalPERS has named Ben Meng as its new chief investment officer. The announcement follows news that current CIO Ted Eliopoulos was planning to retire and move to New York. Meng was previously at CalPERS for seven years with his last role as the investment dir
24 Sep. 2018 Halcyon Capital Management brings on Philip Raciti as head of U.S. performing credit [more]
Opalesque Industry Update - Halcyon Capital Management LP today announced the appointment of Philip Raciti as Head of U.S. Performing Credit and Portfolio Manager. Mr. Raciti will be based in New York and will report to Jason Dillow, Halcyon's Chief Investment Officer and Head of Credit, and Brian Y
24 Sep. 2018 Assets under management in Europe up 10% reaching $29.65tn in 2017 [more]
Opalesque Industry Update - Total assets under management (AuM) in Europe increased by 10% in 2017 to EUR25.2tn ($29.65tn), said Asset Management Report published by European Fund and Asset Management Association (EFAMA) today. In relation to GDP, the value of AuM is estimated to have reached 147%
24 Sep. 2018 SYZ completes its wealth planning team by hiring an expert in financial and retirement planning [more]
Opalesque Industry Update - Banque SYZ is rolling out its Wealth Planning offer by entrusting Pablo Astengo with its Financial Planning and Retirement Solutions business line for Swiss customers. The addition of this new expertise is at the center of the strategy deployed by Banque SYZ aiming t
24 Sep. 2018 A difficult summer for hedge funds, says Lyxor [more]
Laxman Pai, Opalesque Asia: Although hedge funds' performance and alpha were honorable until the summer, they erased about 2.5% of alpha since June, with no turn in sight yet in September, according to Lyxor Weekly Brief. Lyxor analysis suggested that L/S equity funds were the primary culpri
24 Sep. 2018 Comcast has won the battle for Sky, hedge funds won jackpot too [more]
Laxman Pai, Opalesque Asia: The Comcast deal has been a bonanza for some hedge funds, as Sky shares more than doubled over the year. U.S. cable giant Comcast scored has emerged as the winner in the battle for European broadcaster Sky with an eye-watering $40 billion bid by beating Rupert Murd
24 Sep. 2018 Five times more Brazilians exposed to crytocurrencies than stocks [more]
Laxman Pai, Opalesque Asia: Brazil's Largest Brokerage Grupo XP, the operators of XP Investimentos SA, is all set to launch their own Bitcoin and Ethereum cryptocurrency ecosystem with an exchange. According to Bloomberg, the financial services company Grupo XP is launching a cryptocurrency
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  1. Other Voices: PFIC: what U.S. investment funds should be particularly aware of and newly proposed regulations[more]

    By: Kris Hatch, Idan Netser, Fenwick & West LLP U.S.-based venture capital and other funds that invest in foreign companies must be careful to avoid the passive foreign investment company (PFIC) rules, which could substantially increase the tax owed on exit for U.S. taxpaying investors. U.S. per

  2. Renaissance employees could face clawbacks over hedge fund's tax maneuver[more]

    Jim Simons's Renaissance Technologies LLC has produced the greatest investment returns of any hedge fund. Now, it also may be facing an unusually painful tax headache. Last week, Renaissance sent a letter to its current and former employees warning that the Internal Revenue Service could force them

  3. D.E. Shaw's Orienteer strategy posts double-digit returns this year, EcoR1 puts up big gains as the hedge fund scoops up biotech, Ex-hedge fund BlueCrest extends winning run with 50% gain[more]

    D.E. Shaw's Orienteer strategy posts double-digit returns this year From Reuters: D.E. Shaw's Orienteer platform, the backbone of the $50 billion investment firm's multi-asset class offerings, posted high double-digit returns this year, the best ever in its six year lifetime. The Orie

  4. PE/VC: Private equity takes a breather from investing in banks, 2019's 10 defining moments in venture capital, Another record year for PE secondaries amid more GP-led transactions, How 2019 became the best year in private equity's history[more]

    Private equity takes a breather from investing in banks From American Banker: FirstCapital Bancshares of Texas has aspirations of going public in the next couple of years and it's counting on the resources and expertise of private-equity backer Castle Creek Capital to help it realize that

  5. BlackRock's flagship hedge fund Obsidian returns more than 13% in 2019 after stumbling in August, Eiad Asbahi's Prescience Point gained more than 100% last year, Ray Dalio's most prominent fund suffers first annual loss since 2000, Sundheim's D1 posts strong gains[more]

    BlackRock's flagship hedge fund Obsidian returns more than 13% in 2019 after stumbling in August From Business Insider: BlackRock's 23-year-old Obsidian hedge fund bested the average hedge fund, returning more than 13% in 2019 even after losing money in August. The fund, manage