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UBS Investment Bank has expanded its UBS E-Tracs exchange-traded notes platform by adding the UBS E-Tracs Alerian Natural Gas MLP Index.
It has begun on NYSE Arca under the ticker symbol MLPG, and provides exposure to an equal weighted portfolio of master limited partnerships focused on natural gas infrastructure through a single investment.
"UBS has brought unique ETNs to market since we launched the UBS E-Tracs platform two years ago. UBS E-Tracs Alerian Natural Gas MLP Index is UBS’s 15th ETN on our E-Tracs platform and our third MLP ETN with Alerian," says Christopher Yeagley, managing director and US
Partners Capital, the London and Boston based private investment office serving investment professionals, endowments, foundations and high net worth families, has promoted Arjun Raghavan to become its seventh partner.
Raghavan joined Partners Capital in 2007 as a principal and has been the co-portfolio manager of The Master Portfolio. He also sits on the international investment committee.
Prior to joining Partners Capital, Raghavan was a senior fund analyst and director at Quantiva Capital, an equities hedge fund where he traded European equities and options.
Previously, he was a senior manager at Accenture (Andersen Consulting) specialising in corporate strategy.
Stan Miranda, managing
Bombay Stock Exchange and Eurex will launch futures and options on the Sensex, the blue-chip index of the Bombay Stock Exchange, on 4 October 2010 at Eurex.
The Sensex Index tracks the daily performance of 30 of the largest and most actively traded companies listed on the Bombay Stock Exchange.
It is a value-weighted index that represents approximately half of the float-adjusted market capitalization of all stocks traded on the Bombay Stock Exchange.
“We are committed to offering our members a diverse and truly global product offering across key geographies and asset classes. The Sensex is the most widely recognised
Against a backdrop of the ASX200’s June fall of 2.89 per cent, and equity based funds in general which fell 0.57 per cent, market neutral managers were up 1.74 per cent in June, followed by event driven at 0.52 per cent.
With 44 per cent of single funds results in so far, it has been a tough month with 41 per cent reporting positive returns, although 85 per cent outperformed the ASX.
Australian Fund Monitors’ data also shows that non equity based funds fell by 1.21 per cent in June and are down 0.47 per cent year-to-date.
AFM’s model portfolio
Northern Trust is offering clients daily independent valuations for complex over-the-counter property derivatives.
The product, which has been developed in response to an increasing trend for property funds to use OTC derivative instruments, is the latest in a series of enhancements to the suite of services Northern Trust offers real estate fund managers.
The product enables a transparent, daily independent valuation for complex Investment Property Databank swaps. IPD is one of the most common benchmarks used for writing property derivative contracts in the UK and covers approximately 10,986 directly held UK property investments valued at around GBP117bn.
"Property derivatives are
Singapore-based investment firm Wilkinson Bennings is expanding its staff and resources to accommodate an increase in demand for alternative investments.
Wilkinson Bennings has hired 12 additional staff and will expand its trading floor by 30 per cent to accommodate the increased business.
The last major hiring period for the firm was in 2008 when it beefed up its fixed income department by 28 per cent.
Hedge funds as measured by the Greenwich Global Hedge Fund Index cut net exposures and limited the losses experienced by markets in June.
The index shed 0.84 per cent compared to losses of 5.23 per cent by the S&P 500 Total Return, 3.56 per cent by the MSCI World Equity and 5.23 per cent by the FTSE 100.
Forty two per cent of constituent funds in the Greenwich Global Hedge Fund Index ended the month with gains.
Market neutral funds posted a modest loss in June, falling 0.33 per cent on average as funds showed mixed results among strategies.
The
GSO Capital Partners, the credit business of The Blackstone Group, has held the final closing of the Blackstone/GSO Capital Solutions Fund with total commitments of over USD3.25bn.
The fund’s strategy is focused on providing privately negotiated capital solutions to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities, cyclical downturns in their businesses or other funding requirements.
The strategy leverages GSO Capital Partners’ distressed, credit and trading expertise, along with its deal origination capabilities.
Thus far, the fund has invested approximately USD600m in seven different companies.
Bennett Goodman, senior managing director of
SEI, a provider of outsourced asset management, investment processing and investment operations solutions, has selected financial software specialist Comada to enhance the risk management services that will be delivered to the company’s investment manager clients via SEI’s Total Liquidity Management tool.
The partnership, announced this week by Comada co-founders Rupert Vaughan Williams and Dave Shastri, will see the implementation of Comada’s M.A.T.ware risk management capabilities into SEI’s operations platform to further enhance SEI’s outsourcing services for hedge funds and funds of hedge funds.
Vaughan Williams says: "SEI was particularly interested in working with us to address increasingly important liquidity issues
Otkritie, a brokerage that provides direct market access to Russian equity markets, has launched a trading platform that aims to provide greater transparency and cost efficiencies for international investors trading directly into Russia.
The new platform, which is backed by an international custodian, allows the straight through processing of electronic orders onto MICEX and settle into a third party custody account.
The platform eliminates the requirement for investors to pre-deposit their assets with the executing broker or pay for financing while enabling them to use one of the largest custodian banks in Russian equities markets.
Up until now, the most
