Sunday, 29 March 2015
Last updated 1 day ago
Mar 22 2010 | 2:46pm ET
A pair of convertible arbitrage hedge funds is joining the UCITS III bandwagon.
CQS, the $6.7 billion London-based quantitative hedge fund, is preparing a UCITS-compliant convertible fund with the help of JPMorgan Chase. Another London firm, the Matrix Group, plans to repackage Lazard Asset Management’s Lazard Rathmore fund as a UCITS vehicle, the Financial Times reports.
CQS is awaiting regulatory approval for the JPMorgan Mansart Investments CQS Convertible Alpha fund, which it hopes to launch in April.
“We have been approached by a number of existing and new clients asking for exposure to a convertible arbitrage strategy in an UCITS III format because they are constrained by what they can investment in,” Nick Varker, senior executive responsible for product development, told the FT. But he warned that the new fund wouldn’t be able to match the offshore version of the fund because of the liquidity and risk rules that are part of the UCITS structure.
For its part, Matrix aims to bring the Lazard convertible funds to the masses. The strategy earned 58.4% last year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…