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News & Commentary
Content tagged with Asset Management posted in September 2012
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Yale Endowment Ekes Out 4.7 Percent Gain in Fiscal '12
News  |  9/28/2012  | 
Yale University said its endowment gained 4.7 percent in fiscal 2012, down from the previous year's 21.9 percent gain.
Another Ex-Goldman Employee (And His Lawyer) Take Aim At Goldman Sachs
News  |  9/28/2012  | 
"He left Russia for freedom, justice, and the American way and he got Franz Kafka and Goldman Sachs," the Russian computer programmer's lawyer said. But there are many more issues at stake.
Sheila Bair's Book Heaps Fresh Stains on John Thain's Reputation
Commentary  |  9/28/2012  | 
As Hank Paulson prepared to dole out bailout funds to stabilize the nation's financial system, John Thain's biggest concern was how taking government money would impact CEO pay, according to former FDIC head Sheila Bair's new book.
SS&C Acquires Gravity Financial
News  |  9/28/2012  | 
The Canton, Mass. fund administrator will add 40 clients to SS&C.
Buy Side Leans Towards Human-Driven, Alternative Trading Models
News  |  9/27/2012  | 
Although more buy-side firms than not want to boost their use of automated trading in the next year, a survey by MathWorks shows nearly a third have taken the opposing view.
Ex-Credit Suisse Trader to Fight U.S. Extradition
News  |  9/27/2012  | 
A former Credit Suisse Group AG trader, accused by U.S. authorities over a $3 billion fraud involving subprime mortgage bonds, said he would fight a U.S. extradition request when he appeared in a British court on Thursday.

Non-Correlated Assets Are Best Way to Temper Volatility: Survey
News  |  9/26/2012  | 
Institutional investors say the old rules of investing no longer apply post-2008, and that global regulatory reform is a burdensome worry, according to a survey by Natixis Global Asset Management.
Scranton, San Jose Show How Mainstream Hedge Funds Have Become
Commentary  |  9/26/2012  | 
One city is looking for a loan and the other is looking to boost returns, but both cases indicate that hedge funds have moved from an alternative into the mainstream.
ICAP Chief: Positive Signs After Trading Downturn
News  |  9/26/2012  | 
But Michael Spencer does not see any uptick in trading being enough to sustain the already heavily concentrated inter-dealer broker market.
Roiled by Volatility, Sharp Peak Shutting Asia Hedge Fund
News  |  9/26/2012  | 
After suffering a 21 percent loss the Hong Kong hedge fund is shutting its doors.
Enclave Capital Aims to Boost International Desk with New Trading Head
News  |  9/25/2012  | 
The brokerage, which provides algorithms to New York Stock Exchange floor traders, appointed Harold Warren head of trading and managing director.
Fidessa Expands Buy Side Connectivity Service
News  |  9/25/2012  | 
The platform now offers full infrastructure outsourcing —including FIX and non-FIX-based connectivity— to buy side customers as they grapple with the complexity of running technology infrastructure for multi-asset trading and the operational needs of new regulations.
US Institutions Choose Non-Stock Assets In Volatile Market
News  |  9/25/2012  | 
Pension funds, charitable groups, endowments and other large institutional investors are taking on more exposure in non-traditional "alternative" investments - such as private equity and hedge funds - to buffer against volatile stock markets, according to an investor survey.
Morgan Stanley Aims To Double Japan Assets to $50B
News  |  9/25/2012  | 
MSIM to benefit from Japan's AIJ loss cover-up scandal, eyes expansion in alternative business in Japan
Hedge Fund MST Capital Turns to TradingScreen's EMS, TCA
News  |  9/24/2012  | 
The firm will deploy the platforms to execute electronic trades across various asset classes.
MST Capital Signs Up for TradingScreen's Multi-Asset EMS and TCA
News  |  9/24/2012  | 
The Australian hedge fund manager will utilize TradingScreen's EMS, TradeSmart, to trade equities, derivatives and FX via the software-as-a-service model..
Two Months After Staggering Loss, Knight Capital Hunts for New CTO
News  |  9/21/2012  | 
In a series of moves aimed at preventing a repeat of its $440 million trading error, Knight Capital says Steven Sadoff is no longer overseeing its technology.
Financial Astrology For Traders: There Is Money in the Stars
News  |  9/21/2012  | 
Thousands of traders are subscribing to financial astrologers' newsletters. But of course, they're keeping it hush-hush.
Hong Kong Start-Ups Lift Asia Hedge Fund Industry
News  |  9/21/2012  | 
Hedge fund assets in HK grow by $6.5 bln to $47.1 bln, and Asian industry adds $3.5 bln, in line with portfolio gains while hedge fund industry in Singapore, Japan shrinks
Fund of Hedge Funds Sector Set For More M&A
News  |  9/20/2012  | 
Aberdeen Asset Management said there will be a further wave of consolidation in the fund of hedge funds industry, with managers who run less than $3 billion facing a struggle to survive amid shrinking assets and rising costs.
Bloomberg Harnesses Liquidity In US Stocks Across All of its Equity Trading Platforms
News  |  9/19/2012  | 
The financial technology provider launches BPool, a new service to capture liquidity across four trading platforms, through a tie-up with BIDS Trading and its matching engine.
Woodbine Report Hits Back at Dark Pool Critics
News  |  9/19/2012  | 
Woodbine sheds light on the opaque world of dark pools in a 111-page report, and says many of the usual criticisms of these venues are without merit.
Vega-Chi to Launch Buy-Side Only High-Yield Bond Trading System
News  |  9/19/2012  | 
The new ATS will give institutional investors the ability to trade directly with each other, eliminating the need for broker dealers as intermediaries.
Bloomberg, BIDS Trading, Team On U.S. Liquidity Capture Service
News  |  9/19/2012  | 
The firms announce the start of an alliance that will create a deep liquidity pool in market that's been plagued by fragmentation.
Bank of America Website Slows; Prophet Film Threat Made
News  |  9/19/2012  | 
Bank of America Corp's online banking site suffered intermittent problems on Tuesday amid threats on the Internet that a group was planning to launch cyber attacks on the bank and other U.S. targets to protest a film that has stirred unrest in the Middle East.

Goldman Names New CFO, Heralding End of An Era
News  |  9/19/2012  | 
Goldman Sachs Group Inc has named senior trading executive Harvey Schwartz to replace David Viniar as chief financial officer, the latest in a series of executive shuffles as the investment bank prepares for a change in top management.

How Are Algos Tested?
News  |  9/18/2012  | 
Bank of America Merrill Lynch's Dan Nachtman describes the firm's testing procedure for a new algorithm.
Can Buy-Side Traders Trust Their Brokers' Algos?
News  |  9/18/2012  | 
In light of the Knight Capital disaster, buy-side traders have to ask if their broker algorithms are safe -- before they blow up the market.
Morgan Stanley Infrastructure Fund Hit By Volcker Rule
News  |  9/18/2012  | 
A U.S. regulation that limits how much of its own capital a bank can put at risk is causing headaches for Morgan Stanley as it prepares to raise a new multi-billion-dollar global infrastructure fund, people familiar with the situation said.

Hedge Fund Manager Hosts Romney Fund Raiser, Caligula-Like Parties
Commentary  |  9/18/2012  | 
The co-chief of Sun Capital not only hosted the Mitt Romney fundraiser where the candidate lambasted the 47% of Americans who do not pay taxes, he inspires headlines like "Nude Frolic in Tycoon's Pool."
Hedge Funds Back Off Banks
News  |  9/18/2012  | 
As frustrations over the Euro debt crisis rise, some mutual funds are slowly returning to banks.
Could Social Media Revive High-Touch Trading?
Commentary  |  9/18/2012  | 
Maybe the return to high-touch trading is achieved by overlaying social media concepts on top of the low-touch networks that now proliferate the industry.
How to Save a Wounded Market from Rogue Algos
Commentary  |  9/18/2012  | 
You couldn't ask for a better example in the Knight Capital debacle of how quickly today's fast markets can claim a victim. Will this be the last of the rogue algorithms to hit the markets?
Goldman Sachs Disappoints New College Graduates
News  |  9/14/2012  | 
Wall Street suddenly doesn't look so glittery for new graduates.
Who Owns The Risk If A Third-Party Algo Goes Rogue?
Commentary  |  9/14/2012  | 
What happens after a broker-dealer or sell-side firm's algo goes rogue? To find out who owns the risk, Advanced Trading spoke with Michael E. Kurzrok, director of equities for the market research firm Woodbine Associates.
How to Boost Trade Performance Through TCA
Commentary  |  9/14/2012  | 
In a global market where alpha continues to be elusive and liquidity is fragmented and fleeting, firms are discovering a critical component to profitability is uncovering the performance of their trading behavior through TCA.
Consolidated Audit Trail: More Than One Way to Skin This CAT
Commentary  |  9/14/2012  | 
It behooves today's investment firms to be prepared to tackle these new requirements now and in the future.
MF Global Civil Cases Likely, as Criminal Probe Nears End
News  |  9/13/2012  | 
Prosecutors are close to wrapping up their criminal probe of MF Global and are unlikely to file criminal charges, a move that could pave the way for regulators to bring civil cases.
Ask a Broker: Should I Trust Your Algos?
News  |  9/13/2012  | 
After Knight Capital's newest algorithm went rogue, buy side traders have to wonder about the safety and due diligence around their third-party algorithms. Advanced Trading interviewed a broker-dealer - anonymously, of course - on how traders can trust the safety of their trading formulas.
Details Emerge About Greg Smith’s Tell-All Book, “Why I Left Goldman Sachs”
News  |  9/13/2012  | 
Greg Smith, who rose to fame with his inflammatory op-ed in the Times, has had most people wondering whether his book will be a snooze fest or a hit.
CME Group to Launch Offshore Yuan Currency Futures
News  |  9/13/2012  | 
CME Group, the biggest U.S. futures market operator, said on Thursday it plans to expand its offering of yuan products to include deliverable offshore yuan futures, a move which should further help internationalize China's currency.
Japan Mutual Fund Values Inch Up
News  |  9/13/2012  | 
The asset value of Japanese mutual funds inched up in August, its third consecutive monthly gain, as investors bought into less risky bond funds, but overall performance was lower due to dividend payouts by equity funds.
As Markets Finally Celebrate the Euro, Charles Schwab Launches New Global Investing Platform
Commentary  |  9/12/2012  | 
Schwab’s announcement came after Germany's top court rejected calls to block the permanent eurozone bailout fund.
Miller Tabak Consolidates Trading Infrastructure With Fidessa
News  |  9/12/2012  | 
The institutional trading firm said the Fidessa platform will help rein in costs, which is a growing concern for broker-dealers amid new regulations and rising market fragmentation.
State Street Global Advisors Appoints Greg Ehret to Global COO
News  |  9/12/2012  | 
The newly created role combines sales, product, marketing and operations functions.
Buy Side Takes Harder Look at Broker Algorithms After Knight Debacle
News  |  9/11/2012  | 
Before Knight Capital, the buy side may have taken the safety of broker tools for granted. But now buy-side firms are taking matters into their own hands and demanding more transparency.
Investors Pull More Money Away From Hedge Funds
News  |  9/11/2012  | 
Investors took more money away from hedge funds in July when they asked for $7.4 billion back, underscoring their frustration with an industry that has long promised to make money in all markets but is currently delivering only middling returns.
Invesco Turns to OneTick to Beef Up TCA, Alpha Generation Models
News  |  9/11/2012  | 
The investment manager says the move will provide better context around every transaction, and help its traders sharpen their strategies quicker than what's possible with only third-party analysis.
Marathon Asset Management Turns to SimCorp for Trade Processing
News  |  9/11/2012  | 
The asset manager said it will also use SimCorp's platform for fund accounting and reporting.
State Street Battles Weak Revenue; Cost Cuts Possible
News  |  9/11/2012  | 
State Street Corp Chief Executive Jay Hooley on Tuesday delivered a stark reminder that the custody bank's revenue remains under pressure and vowed to revisit more cost cutting.

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