Tuesday, 21 October 2014
Last updated 2 hours ago
Jan 22 2008 | 12:19pm ET
It’s official: Bank of New York Mellon has completed the acquisition of ARX Capital Management, a Rio de Janeiro, Brazil-based hedge fund that has more than US$2.8 billion in assets under management.
Terms of the transaction, which was first announced in November, were not disclosed. ARX Capital will be integrated with BNY Mellon Asset Management Brazil and José Alberto Tovar, CEO of ARX Capital, will become the head of the integrated asset management business, reporting to Zeca Oliveira, head of BNY Mellon Brazil.
“The acquisition of ARX Capital Management significantly enhances our capabilities in the region and will add a strong product offering to help drive the development of our business internationally,” Jonathan Little, vice-chairman of BNY Mellon Asset Management, said. “Moreover, it fits with our strategic objective of growing our footprint in developing markets. The business is continuing to exceed our expectations with close to 100% client retention during the period since we announced the acquisition.”
Founded in 2001, ARX Capital Management 20 equity and hedge funds, in domestic and offshore versions with BNY Mellon DTVM Brazil serving as the administrator for the majority of the funds.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...