Algebris Investments, a global asset management firm, is launching a Tail Risk Fund, managed by head of macro strategies Alberto Gallo together with the macro team. The fund started trading on 1 June 1 2018. The Algebris Tail Risk Fund is designed to help investors counter these shocks. The fund will mostly have a short bias and will invest in a portfolio of hedging strategies, identifying macro risks globally and implementing convex shorts across rates, credit, equities, currencies and commodities, partially financed by a diversified carry book. Mr Serra, chief executive officer and founder said: “We believe this strategy offers unique diversification benefits to investors whose portfolio may encompass more traditional, long-only investments, whilst ensuring resilient economics in stable markets to prevent excess capital depletion.”
Antipodes Partners, a global equity boutique, has made a series of investment team and management appointments. Antipodes Partners continues to witness strong investor demand both institutional and retail for its long/short and long-only global equity strategies, taking its AUM to approximately £4 billion more than three years on from its inception. Coinciding with the growth in investor demand, Antipodes Partners has also made a number of hires across its Sydney and London office. Andrew Findlay has been appointed managing director overseeing the group’s business activities. Mr Findlay was previously a senior executive at Pinnacle Investment Management – a minority owner and the distribution partner of Antipodes Partners. Aidan Kerr has been appointed as an investment analyst, covering the global healthcare sector. Previously Mr Kerr was an equity analyst in the healthcare team at Magellan Financial Group. Ben Turner has been appointed to manage Antipodes Partners’ dealing function in London. He joins from Adelphi Capital where he was responsible for investment analysis, risk management and trading. Vinayak Muralidharan has been appointed as an investment analyst, covering the global financials and infrastructure sectors. Kieran Rabbitt has been appointed as investment specialist, responsible for portfolio analytics and systems development – expanding Antipodes Partners’ quant/macro team to four. He previously spent eight years at Dimensional Fund Advisors. These hires follow the opening of Antipodes Partners’ London office in September 2017 and the launch of two UCITS funds for UK and European investors: the Antipodes Global Fund - Long Only and the Antipodes Global Fund, a long biased long/short fund.
Nomura Asset Management, the $493 billion investment manager (as of 31 March 2018), has been appointed to manage a $330 million global high yield credit investment mandate by Första AP-Fonden (AP1), one of five buffer funds in the Swedish national income pension scheme. The mandate has been funded via Nomura’s Ireland domiciled Global High Yield Bond Fund, a sub-fund of their Nomura Funds Ireland plc UCITS umbrella. The fund is sub-advised by Nomura Corporate Research and Asset Management Inc (NCRAM), an affiliated firm based in New York that specialises in sub-investment grade credit markets. NCRAM’s investment approach is total return oriented and driven by bottom-up credit research. It follows a philosophy which is described as a ‘Strong Horse’ approach, aiming to identify companies which are capable of carrying their debt through economic cycles. The firm believes that over time these companies are able to generate strong, sustainable cash flows, thereby enabling them to de-lever their balance sheets and improve their ratings.
With the World Cup set to kick off on 14 June in Russia, Seven Investment Management's (7IM) multi manager team shares its thoughts on who could form a team from the broad squad of investments that 7IM uses across its funds. Following a favoured 5-3-2 formation, this is the line-up that 7IM could field: Sporting the usual number one shirt that goalies wear is the Royal London Cash Plus Fund. 7IM is also looking to include a sweeper. One choice for this would be the TwentyFour AM Dynamic Bond Fund. Meanwhile, it is the full-backs who often have to take on a more proactive role in supporting the team’s performance than used to be the case, while still adding a defensive quality when things take a turn for the worse. This led 7IM to consider the selection of the NN Global Convertible Opportunities and the Fair Oaks Income funds. Our centre-backs try to deliver when others around them are under pressure. For 7IM, key players include the F&C Global Equity Market Neutral Fund and the Angel Oak Multi-Strategy Income Fund. At least one midfielder is there to help make sure that we don’t follow the typical direction of play, and aims to balance out attack and defence. For 7IM, funds that take the role of midfield include the Hermes Asia Ex Japan Equity. Also potentially joining Hermes in the centre of the park is the Artemis UK Select Fund, a box-to-box addition with an unconstrained approach. Completing the potential midfield line-up is the Miton European Opportunities Fund, a new signing in 2017, adding some extra diversification to the team. Furthermore two ideas for strikers, who are looking to consistently outperform their peer group, include the Baillie Gifford Japanese Smaller Companies Fund and the RWC Emerging Markets Fund.