FROM THE PRESS RELEASE DESK THIS WEEK…
People moves
Deutsche Bank Wealth Management has appointed three Dubai-based relationship managers for offshore Indian clients. They are Abhishek Sharma, Ravi Sidhu and Kabir Sharma, who are all from Julius Baer. The bank expects to make two more hires: a managing director and a director, also from Julius Baer, with both currently on gardening leave…
Darrell Watters, co-manager of the Janus Henderson High Yield Fund, has stepped down from the product’s portfolio management team. However, he will continue to manage the firm’s Flexible Bond Fund and the Short-Term Bond Fund. Brent Olson replaced Watters and joins Seth Meyer, who has been a co-manager of the high yield product since 2015…
Fine wine investment manager Cult Wines has appointed Julie Delaporte as Singapore-based Southeast Asia business development manager. Delaporte will be responsible for managing and developing partnerships with local and regional wealth managers, family offices, private banks and other financial intermediaries. Delaporte’s appointment follows the firm’s launch of its first office in China last month. Headquartered in London, the firm has offices in Hong Kong, Singapore and Shanghai…
Business moves
Aberdeen Standard Investments has expanded its business in Japan with the acquisition of Type I and Type II financial instruments business licences. In June, the firm received the Type I securities licence and became a member of the Japan Securities Dealers Association in July, which enables direct sales of foreign-domiciled funds to Japanese professional investors. The firm received the Type II licence in January, which enables firms to offer private market funds to professional investors. In July, Hidetoshi Ono was appointed as head of direct real estate in Japan. Before ASI, Ono was managing director for Japan real estate at Manulife…
Hong Kong’s Securities and Futures Commission has granted 15 firms Type 9 (asset management) licences last month. They include Tongfang Wealth Management, which is an affiliate of Tongfang Securities in Hong Kong, and Zero Bridge Partners Asset Management, which is a credit, distressed debt and special situations business focused on Asia-Pacific…
Gam Investments’ alternative risk premia strategy has reached $2.4bn in AUM. The firm said that it had inflows of around $600m since July from multiple institutional investors, especially from Australia. The strategy targets around 15 risk premia strategies across the style categories of value, momentum and carry…
Barings has raised €1.5bn ($1.68bn) for its second co-mingled European senior loan fund from around 45 institutional investors, including public and private pension funds, insurance companies and family offices from Asia-Pacific, Europe and North America. The European Private Loan Fund II invests primarily in European private senior secured corporate loans and has deployed nearly 50% of capital committed…
Hedge funds
Year-to-date hedge funds globally have performed positively, according to an Evestment report. Long/short equity funds are among the best performers, followed by managed future and event-driven funds. However, Evestment believes that the industry’s strength may be tested in the coming months, with the S&P 500 down at least 3% in the first week of August. “It will be interesting to see how August unfolds for hedge funds, particularly how the two leading strategies of 2019 will react…”
