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Hedgewire 23/08/17

Newsletter Items: Volatility manager Runestone Capital to launch first US fundPhelix-DE contract bringing confidence back to German Power Market, says EEXQuant hedge fund Taaffeite Capital Management appoints new COONasdaq offers proprietary US equity data feeds from Equinix Data Centre in LondonCloudQuant launches with USD15m acquisition to crowd researcherCloudMargin connects to DTCC-Euroclear Global Collateral Margin Transit UtilityIndus Valley Partners enhances Enterprise Data Management platformMuzinich & Co appoints head of global distributionThe Rohatyn Group hires beyond-BRIC equity portfolio manager Jersey Finance appoints new Deputy CEOUltimus Fund Solutions appoints EVP, Director of Fund Administration and CompliancePE-backed ITI Group acquires Walbrook Capital MarketsIHS Markit launches compliance service for RTS 28 Banner: 17711771177117711771Skyscraper: 17721772

Volatility manager Runestone Capital to launch first US fund

Volatility management specialist Runestone Capital is to launch its first ever US fund. The systematic strategy buys or sells US equity index volatility on a one-day forward basis based on statistical probabilities. The strategy allows investors to access pure volatility as an asset class through trading VIX related instruments such as VIX futures, exchange traded notes, and options. Historical returns have been shown to typically be uncorrelated to traditional equities and fixed income since inception in May 2015.   “The strategy has delivered returns in very different market conditions as the strategy is agnostic to being long or short and to pre-set market conditions,” says Rune Madsen (pictured), CIO of Runestone Capital. “The exceptional thing with volatility is that it is has a perpetual opportunity set. Volatility always exists.”   “Understanding volatility and how to manage its risk specifically as an asset class requires special focused expertise,” says Greg Sperrazza, US Head of Sales for Runestone Capital. “Managing volatility is all we focus on and doing it on one-day forward looking basis is something that we believe is unique. We think it helps capture opportunities that might otherwise be missed while keeping risk at a prudent level.”   The new fund is called Runestone Capital U.S. Fund and will run pari passu to the original Malta based SICAV, named Runestone Capital Fund. Its first day of trading is set to be Oct 1, 2017. The fund’s capacity is currently projected at USD500 million based on the size of the current VIX market.   Founded in 2014 by Rune Madsen and Rasmus Andersen, Runestone Capital specialises in quantitative and qualitative strategies based on volatility. Peter Clarke, the former chief executive officer of Man Group, is a senior advisor to the firm. offFundsLaunches & Fundraising

Hedgewire 22/08/17

Newsletter Items: Lyxor hedge fund index down 0.6 per centSS&C GlobeOp Forward Redemption Indicator at 3.55 per cent for AugustGondor hedge funds maintain double-digit returnsRetirement planning needs a tailored, solution-based approachBanca IMI Securities to pay USD35m for improper handling of ADRs Artisan Partners launches Global Discovery FundUnigestion joins MFEX platformAQMetrics adds two to client rostereSentire secures growth equity investment from Warburg PincusOgier promotes new partners to Cayman Investment Funds team CubeLogic Announces Support for Trade Credit InsuranceSilverfinch hosts keynote MiFID II/PRIIPs eventBanner: 18821882188218821882Skyscraper: 18811881

Hedgewire 21/08/17

Newsletter Items: Hedge funds up 1.15 per cent in July, says PreqinC WorldWide Asset Management selects SimCorp CoricWealth managers Rathbones and Smith & Williamson in merger talksNew investment objective, name, exchange and ticker symbol for First Trust CBOE S&P 500 VIX Tail Hedge Fund Banner: 18791879Skyscraper: 1878

Hedge funds up 1.15 per cent in July, says Preqin

Hedge funds generated gains in July 2017 of 1.15 per cent, continuing a streak of nine consecutive months of positive returns, according to Preqin’s latest Hedge Fund Performance Update. This has helped the Preqin All-Strategies Hedge Fund benchmark post returns of 5.93 per cent for 2017 YTD and 9.63 per cent for the past 12 months.   All top-level strategies produced positive returns for July 2017, with equity strategies in particular continuing a strong year, returning 1.66 per cent, the highest return of any of its counterparts.   Emerging markets-focused funds were the top performers in terms of geographic region, returning 2.63 per cent, helping to bring the 2017 year-to- date cumulative return figure to 10.09 per cent. In addition, this has been closely followed by Asia-Pacific-focused funds which have generated 9.38 per cent over this period.   CTAs recovered well in July (+0.99 per cent) having struggled in June losing 0.89 per cent. This improved performance was predominately driven by discretionary CTAs which performed notably well, returning 1.65 per cent over the month of July.  offResults and performanceFunds

Wealth managers Rathbones and Smith & Williamson in merger talks

Wealth managers Rathbones and Smith & Williamson are in talks to agree a merger which will create a GBP55 billion wealth management firm. Rathbones will effectively take over Smith & Williamson as the larger firm which manages GBP36 billion, against Smith & Williamson’s GBP19 billion. The deal values Rathbones at GBP1.4 billion and Smith &Williamson at GBP600 million. Last month Rathbone posted a 16.7 per cent rise in first-half pre-tax profit to GBP26.6 million on the back of market gains and an increase in assets under management. The combined new company would see Rathbones, led by CEO Philip Howell (pictured), able to expand its offering, adding Smith & Williamson’s tax and accounting practice. Behind the news, rumour has it that Canadian financial firm, AGF with CAD36 billion in assets and which owns 33 per cent of Smith & Williamson, has been looking for an exit from the firm. Both firms have large shareholdings held by their staff. inhouse contentWealthDeals and TransactionsAcquisitionsMergersFlag: alphaq