Trusted Insighthttp://thetrustedinsight.com/2017-07-10T14:02:54.316269-04:00Trusted Insight, the world's largest platform for institutional investors with 40,000 LP investor professionals in 98 countries and territories around the globe. 30,000 institutional investors engage with Trusted Insight each week. They are actively investing in alternative assets, primarily private equity, hedge funds, real estate and private companies. Our users consist of pension funds, endowments, foundations, sovereign wealth funds, family offices, banks and insurance companies. 83% of Trusted Insight users continue to use the platform 6 months after initially signing up. Investors on the platform, on average manage in excess of $5 billion. We are a platform for qualified purchasers, not high net worth investors.
Japan’s Government Pension Investment Fund Posts Highest Gain in Two Years
2017-07-10T14:02:54.316269-04:00https://www.thetrustedinsight.com/investment-news/japans-government-pension-investment-fund-posts-highest-gain-in-two-years-20170710914/
Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, posted its best gain in two years Friday. The fund gained $70 billion, or 5.9%, for the year, with gains in its equity portfolio offsetting some losses in bonds.
Linear Talk: Macromoney - The equities oriented Hedge Fund
2016-11-02T05:11:52.487038-04:00https://www.thetrustedinsight.com/investment-news/linear-talk-macromoney-the-equities-oriented-hedge-fund-20161102634/
Simone Dalle Nogare - Director at Macromoney Global Investments, joins Colin Lloyd, Author of Macro Investment Letter Service ‘In the Long run’, in the Tip TV - Linear Talk Hedge Show, and details why they run a Hedge Fund which bets only on equities, and how their macroeconomic model helps them identify the best bet in equities in this era of uncertainty. Nogare also offers inputs on their team, and their strategy for investing using derivatives.
Piotr Kawala best young analyst by Parkiet and ZMiD
2016-10-27T06:42:09.693378-04:00https://www.thetrustedinsight.com/investment-news/piotr-kawala-best-young-analyst-by-parkiet-and-zmid-20161027326/
Piotr Kawala, Macromoney macroeconomic analyst, was awarded as Young Star of the Polish financial market in the category best analyst by Parkiet, the most popular Polish financial newspaper, and ZMiD, the Polish association of brokers and investment advisors.
U.S. Public Pensions Turn To Currency As Returns Sour
2016-09-15T10:50:30.585762-04:00https://www.thetrustedinsight.com/investment-news/us-public-pensions-turn-to-currency-as-returns-sour-20160915194/
With equities and bonds as the main stars of the pension investing world, currency funds, which hedge their assets, have been viewed as an afterthought for years. But their track records of stabilizi...
The Yale (and Harvard, Stanford, MIT...) Model
2016-05-23T15:59:34.885084-04:00https://www.thetrustedinsight.com/investment-news/the-yale-and-harvard-stanford-mit-model-20160523119/
Elite endowments don’t have a “secret recipe” for high returns, but rely on riskier assets for outperformance, according to a paper....
The Endowment Capital Return Inequality
2016-05-17T11:07:02.794069-04:00https://www.thetrustedinsight.com/investment-news/the-endowment-capital-return-inequality-20160517668/
Elite endowments don’t have a “secret recipe” for high returns, but rely on riskier assets for outperformance, according to a paper....
Judge Calls For Open MBTA Pension Files
2016-03-10T11:22:46.258830-05:00https://www.thetrustedinsight.com/investment-news/judge-calls-for-open-mbta-pension-files-20160310286/
A Suffolk Superior Court judge ruled Wednesday that the records of the MBTA pension fund should be open to the public because the system receives tens of millions of dollars in taxpayer funding from ...
Jax Police And Fire Pension Fund Investments Underperform
2016-02-18T12:52:27.407709-05:00https://www.thetrustedinsight.com/investment-news/jax-police-and-fire-pension-fund-investments-underperform-20160218184/
While Jacksonville leaders wait to see whether Tallahassee will give them the go-ahead on the Pension Tax referendum, they might want to consider the latest annual report from the Police and Fire Pen...
Simone Dalle Nogare, Macromoney Director, was a panelist at the Alternative Emerging Manager Breakfast Seminar in London organised by Apex on 11th February 2016
2016-02-15T07:59:55.811166-05:00https://www.thetrustedinsight.com/investment-news/simone-dalle-nogare-macromoney-director-was-a-panelist-at-the-alternative-emerging-manager-breakfast-seminar-in-london-organised-by-apex-on-11th-february-2016-20160215059/
Aussie Finds Friend As $1.4 Trillion Pension Pool Buys On Losses
2016-01-12T14:45:59.070025-05:00https://www.thetrustedinsight.com/investment-news/aussie-finds-friend-as-14-trillion-pension-pool-buys-on-losses-20160112441/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world....
African Private Equity: The Bright Continent
2015-12-02T12:53:49.876918-05:00https://www.thetrustedinsight.com/investment-news/african-private-equity-the-bright-continent-20151202435/
Private equity investment in Africa is on the rise. Traditionally, the continent’s abundance of natural resources, including mining and exploration, has been the driving force behind investment interest. But growing demand for telecommunications, infrastructure, consumer goods and financial services, has widened the range of opportunities for potential investors even further.
How Do US Interest Rates Effect Indian Venture Capital Funding
2015-10-28T15:18:06.892858-04:00https://www.thetrustedinsight.com/investment-news/how-do-us-interest-rates-effect-indian-venture-capital-funding-20151028440/
Most venture capital and private equity firms that are investing in the Indian startup market are raising funds from US institutional investors – endowments, pension funds, insurance companies, corporations, banks, mutual funds etc. Together, these institutional investors hold trillions of dollars in investments, which they deploy in various financial instruments around the world.
Macromoney fund manager pitching the fund at the Hedge Fund Startup Forum in Zurich
2015-10-26T06:45:16.094309-04:00https://www.thetrustedinsight.com/investment-news/macromoney-fund-manager-pitching-the-fund-at-the-hedge-fund-startup-forum-in-zurich-20151026255/
Maciej Wisniewski, Macromoney fund manager, was pitching the fund at the Hedge Fund Startup Forum in Zurich on Wednesday 21st October 2015. The IIR’s Hedge Fund Startup Forum at The Dolder Grand Hotel in the heart of Zurich was moderated by prominent industry figures and it is considered to be the leading event for those looking to start a hedge fund. Last year over 200 emerging and startup managers and investors attended the conference.
How Macromoney has beaten August volatility
2015-10-05T08:48:20.761742-04:00https://www.thetrustedinsight.com/investment-news/how-macromoney-has-beaten-august-volatility-20151005967/
You returned 15.13% in August 2015 alone when there was a correction in most markets. How did you do that?
August returns were the results of both our long term macroeconomic model and our short term model tracking volatility. Whilst the earlier gave us the signal to come out of equities at the beginning of April due to the slowing macroeconomic data; the latter gave us the signal in July of a potential upcoming and significant spike in volatility. In response to these signals we opened positions in ‘out of the money’ put options on S&P500. The initial total position in options in July was only 1,5% of NAV but it has generated a 15% net return in August.
Top Portfolio Products: New Socially Responsible Funds From TIAA-CREF
2015-08-18T11:42:34.849985-04:00https://www.thetrustedinsight.com/investment-news/top-portfolio-products-new-socially-responsible-funds-from-tiaa-cref-20150818782/
New products and changes introduced over the last week include two socially responsible investment funds from TIAA-CREF; plans for global environmental, social and governance scores from Morningstar;...
Macromoney analysts lecturing about hedge fund’s best practices
2015-08-11T10:36:35.707631-04:00https://www.thetrustedinsight.com/investment-news/harvest-20150811590/
Macromoney analysts lecturing about hedge fund’s best practices
New York State Common sets $350M for Westbrook Partners, terminates MSIM
2015-07-09T10:38:19.926869-04:00https://www.thetrustedinsight.com/investment-news/new-york-state-common-sets-350m-for-westbrook-partners-terminates-msim-20150709995/
<div>New York State Common Retirement Fund, Albany, committed up to $350 million to Westbrook Partners and terminated a $1.66 billion Morgan Stanley (MS) Investment Management active international equity separate account according to Pensions & Investments. </div><div><br></div><div>The $183.5 billion pension fund committed $200 million to Westbrook Real Estate Fund X. The fund “intends to create a well-diversified portfolio primarily of existing properties well located in gateway markets globally,” said Matthew Sweeney, a spokesman for state Comptroller Thomas DiNapoli, in an e-mail. “It will look to acquire all major property types, (such as) office, multifamily/residential, hospitality, retail and industrial.”</div><div><br></div><div>Mr. DiNapoli is the sole trustee of the New York State Common Retirement Fund.</div><div><br></div><div>In addition, the pension fund will commit up to $150 million for a co-investment with the Westbrook fund.</div><div><br></div><div>The New York pension fund has done business with Westbrook for nearly 20 years, investing a total of $635 million in eight Westbrook funds, Mr. Sweeney added.</div><div><br></div><div>Separately, Mr. Sweeney said the Morgan Stanley termination reflected a “strategic reallocation … The capital was reassigned to cash and passive strategies.”</div><div><br></div><div>Matt Burkhard, a spokesman for Morgan Stanley, declined to comment.</div>
Austin Police terminates international equity manager
2015-06-02T10:53:31.019999-04:00https://www.thetrustedinsight.com/investment-news/austin-police-terminates-international-equity-manager-20150602254/
<div>Austin (Texas) Police Retirement System is liquidating its $16.1 million investment in the <b>KBI Eco Water Fund</b>, CEO Sampson Jordan said in an e-mail according to Pensions & Investments. </div><div><br></div><div>Thompson, Siegel & Walmsley, an international large-cap manager; Driehaus Capital Management, an international small-cap manger, and LMCG Investments, an emerging markets equity manager, will be retained.</div><div><br></div><div>The $660 million pension fund has a 15% target allocation to international equity.</div>
Montana terminates 3 international equity managers, slates $60M for 3 funds
2015-05-19T11:55:13.504908-04:00https://www.thetrustedinsight.com/investment-news/montana-terminates-3-international-equity-managers-slates-60m-for-3-funds-20150519125/
<div><span style="font-family: Helvetica, Arial, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; line-height: 18px;">Montana Board of Investments, Helena, </span>approved a $20 million commitment to <b>ArcLight Energy Partners VI</b>, an energy infrastructure fund that targets North American midstream and power assets and is managed by ArcLight Capital Partners.</div>
<div> </div>
<div>Additionally, the investment staff committed $20 million each to <b>AG Realty Fund IX</b> and <b>AG Core Plus Realty Fund IV</b>, real estate funds managed by Angelo Gordon & Co.</div>
<div> </div>
<div>As of March 31, the pension fund had a 10.4% allocation to private equity and 8.7% to real estate.</div>
<div> </div>
<div><b>Hansberger Growth Investors </b>and <b>Martin Currie Investment Management </b>were terminated from international large-cap growth equity strategies. <b>AllianceBernstein (AB)</b> was also terminated from an international large-cap value equity strategy. </div>
<div> </div>
<div>As of March 31, the pension fund had a 16.5% allocation to international equity.</div>
<div> </div>
<div>The board oversees nine pension funds with about $10 billion in assets combined.</div>
Emerging manager Macromoney bets on technology stocks and developed markets
2015-05-19T07:29:12.478275-04:00https://www.thetrustedinsight.com/investment-news/emerging-manager-macromoney-bets-on-technology-stocks-and-developed-markets-1-20150519118/
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<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;line-height:
normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:
9.5pt;font-family:"Arial",sans-serif;color:black">Benedicte Gravrand, Opalesque
Geneva for </span><i><span style="font-size:9.5pt;font-family:"Arial",sans-serif;
color:#551A8C;mso-bidi-language:HE">New Managers</span></i><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">:</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Here is a
rare Polish hedge fund which combines multi-strategy and global macro
approaches and outperforms its peers thanks to original tactics.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#551A8C">Macromoney</span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">, a fund
manager focused on concentrated investments in securities, futures and options
listed on the main stock exchanges, is a BVI-based firm founded in 2012 with
fund administration in London, prime broker services in New York, and
operational offices in Warsaw, Poland.</span></p>
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justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Macromoney’s
founder is </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;
color:#551A8C">Maciej Wisniewski</span><span style="font-size:9.5pt;font-family:
"Arial",sans-serif;color:black">, an investment professional with 20 years of
experience. He also founded in 2005 Investors Investment Fund Company
("Investors TFI"), one of Poland's first privately owned investment
fund management companies, and grew assets in six years from $3.5m to $700m.
Most of the closed-end funds are listed on the Warsaw Stock Exchange.
Previously, he was Director of Trading at BZ WBK AIB Asset Management and
Proprietary Trader for LG Bank, after beginning his career as a stockbroker at
Raiffeisen Capital and Bank Millenium Securities. He claims to have established
one of the first Polish hedge funds (2005), the first gold fund in Poland
(2006) and the first private equity fund in Poland for private investors
(2007).</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">The fund,
Macromoney Global Investments Ltd., combines a multi-strategy and a global
macro approach. Its investment process is twofold; a quantitative approach to
analyse long-term sets of macroeconomic data, and an exploration of these macroeconomic
trends through a bottom-up approach. Incepted in January 2013, the fund
returned 34.6% last year and is up 22.6% YTD (to August). It fee structure is
1% and 10%. The HFRI Multi-Strategy Index is up 3% YTD and the HFRI Macro (Total)
Index 2.4%.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">FOCUS</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"We
have a long-term approach when we look at the supply side of the economy,"
Wisniewski explains. "Experts agree that economies grow in the long-term
thanks to three main forces: labour, capital accumulation and total factor
production (TFP= technological progress, R&D, human capital accumulation).
If we look at the emerging economies’ main growth factor, we realize that it is
the capital accumulation that helps them to develop untill they reach a steady
state. The first decade of 21<sup>st</sup> century is an example of
outperformance of emerging economies driven by consistent infrastructure
investments. Instead, developed economies’ main growth factor is the total
factor production, because having already reached their steady state, they can
only develop further through research and innovation. The last decade of 20th
century is an example of outperformance of developed economies driven by
computing, PC software, internet development, supply management and on time
delivery."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">He believes
that we are at the next stage of technological progress and innovation, which
is driving developed economies’ outperformance this decade. Examples are found
in mobile computing, mobile apps, cloud computing, big data, 3D printing, and
robotics/drones, he notes. So the fund is staying focused on technology stocks
and developed markets, "which, after a period of deleveraging, are
reversing their decade-long of underperformance."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">PROPRIETARY
MACROECONOMIC MODEL BASED ON MOMENTUM SIGNALS</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">The managers
also look at business cycles and use an in-house built proprietary
macroeconomic model based on momentum signals to do so.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"Economies
move up and down and each stage of the economy cycle corresponds to a different
outperforming asset class," he says. "We interpret these economic
cycle changes thanks to a proprietary macroeconomic model ... Usually a
standard momentum strategy is based on the prices of the different asset
classes. Instead our model gives us signals that are based on momentum of
macroeconomic indicators. Thanks to these signals we are able to allocate funds
among different asset classes. To make it easy, our model tries to figure out
whether in the near future there will be a slowdown in economic data or even worst,
if there will be a recession. Following this example (recession), we would
change the asset class into which the fund invests, and move for example from
stocks to cash or safe treasury bonds."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">The model
was tested on different markets and the signals allowed it to outperformed
related benchmarks. Relying on a macroeconomic model based on momentum signals
is more objective than a standard momentum strategy, which is based on the
asset classes’ prices and can be influenced by market players, Wisniewski adds.
He expects more fluctuations of business cycles in the foreseeable future, and
the model will help him interpret them.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">MINING THE
INTERNET COMMUNITY</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">In the fund’s
investment strategy, the manager believes the best potential for long-term
capital appreciation is through equities investing and it is important to look
at things from different perspectives; he does do not only follow research from
investment banks but also from the Internet community of independent investors,
strategists and industry players. Research published last year in the </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#551A8C">Wall
Street Journal </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;
color:black">lends credibility to the idea that the "wisdom of
crowds" phenomenon applies not just to encyclopaedia entries and
restaurant reviews, but also to stock market predictions, he notes.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">When asked
about the pros and cons of internet analysis, Wisniewski says: "Internet
analysts seem to be more independent and free thinkers due to their non-strict
relationship with the companies that they try to analyse, not to mention their
different backgrounds and geographical locations. These analysts are also
sometimes able to dig more into the companies they study because they can come
from that particular industry or sometimes even that company. For example, an
engineer working for a Chinese real estate company could potentially give
better insights on this kind of company than an analyst sitting in an office</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">located on
the other side of the world. There is also the risk that the financial data
(e.g. balance sheet, cash flow statement, income statement, etc.) are not of a
good quality. So to address this issue, we use well-known financial data
providers when we analyse raw financial data.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"Of
course, we review their audited annual reports because this is the place where
you have got all the company information; you can’t be biased. Moreover, we do
not follow one idea without testing it against many other researches on the
same subject and even against the comments expressed at the end of the research
by other analysts."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"The
bottom line," he continues, "is that you can have hundreds of people
"working for you," creating a big and creative investment committee
that would be hard to replicate in-house."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">NEW FEEDER
FUND</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">In 2012,
Wisniewski sold his stake in </span><span style="font-size:9.5pt;font-family:
"Arial",sans-serif;color:#551A8C">Investors TFI </span><span style="font-size:
9.5pt;font-family:"Arial",sans-serif;color:black">to the other partners in
order to start his own hedge fund. He had agreed to an anti-competitive close
and was finally able to start the marketing campaign of the fund in late spring
this year. The fund is now present in several hedge funds databases.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Macromoney
decided to launch a feeder fund in Poland that would invest 100% in the hedge
fund, the master fund, to accelerate the growth of the AuM.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"In
October 2014, we are going to make the first issue of the feeder fund in
Poland, under the Polish Securities and Exchange Commission (KNF)," he
adds. "Polish institutional and HNWI clients are not familiar with
offshore strategies so we preferred to create and accommodate this
master/feeder structure to them."</span></p>
Emerging manager, Macromoney, bets on technology stocks and developed markets
2015-05-19T07:15:58.431449-04:00https://www.thetrustedinsight.com/investment-news/emerging-manager-macromoney-bets-on-technology-stocks-and-developed-markets-20150519117/
Benedicte Gravrand, Opalesque Geneva for New Managers:
Here is a rare Polish hedge fund which combines multi-strategy and global macro approaches and outperforms its peers thanks to original tactics.
Macromoney, a fund manager focused on concentrated investments in securities, futures and options listed on the main stock exchanges, is a BVI-based firm founded in 2012 with fund administration in London, prime broker services in New York, and operational offices in Warsaw, Poland.
Macromoney’s founder is Maciej Wisniewski, an investment professional with 20 years of experience. He also founded in 2005 Investors Investment Fund Company ("Investors TFI"), one of Poland's first privately owned investment fund management companies, and grew assets in six years from $3.5m to $700m. Most of the closed-end funds are listed on the Warsaw Stock Exchange. Previously, he was Director of Trading at BZ WBK AIB Asset Management and Proprietary Trader for LG Bank, after beginning his career as a stockbroker at Raiffeisen Capital and Bank Millenium Securities. He claims to have established one of the first Polish hedge funds (2005), the first gold fund in Poland (2006) and the first private equity fund in Poland for private investors (2007).
The fund, Macromoney Global Investments Ltd., combines a multi-strategy and a global macro approach. Its investment process is twofold; a quantitative approach to analyse long-term sets of macroeconomic data, and an exploration of these macroeconomic trends through a bottom-up approach. Incepted in January 2013, the fund returned 34.6% last year and is up 22.6% YTD (to August). It fee structure is 1% and 10%. The HFRI Multi-Strategy Index is up 3% YTD and the HFRI Macro (Total) Index 2.4%.
FOCUS
"We have a long-term approach when we look at the supply side of the economy," Wisniewski explains. "Experts agree that economies grow in the long-term thanks to three main forces: labour, capital accumulation and total factor production (TFP= technological progress, R&D, human capital accumulation). If we look at the emerging economies’ main growth factor, we realize that it is the capital accumulation that helps them to develop untill they reach a steady state. The first decade of 21st century is an example of outperformance of emerging economies driven by consistent infrastructure investments. Instead, developed economies’ main growth factor is the total factor production, because having already reached their steady state, they can only develop further through research and innovation. The last decade of 20th century is an example of outperformance of developed economies driven by computing, PC software, internet development, supply management and on time delivery."
He believes that we are at the next stage of technological progress and innovation, which is driving developed economies’ outperformance this decade. Examples are found in mobile computing, mobile apps, cloud computing, big data, 3D printing, and robotics/drones, he notes. So the fund is staying focused on technology stocks and developed markets, "which, after a period of deleveraging, are reversing their decade-long of underperformance."
PROPRIETARY MACROECONOMIC MODEL BASED ON MOMENTUM SIGNALS
The managers also look at business cycles and use an in-house built proprietary macroeconomic model based on momentum signals to do so.
"Economies move up and down and each stage of the economy cycle corresponds to a different outperforming asset class," he says. "We interpret these economic cycle changes thanks to a proprietary macroeconomic model ... Usually a standard momentum strategy is based on the prices of the different asset classes. Instead our model gives us signals that are based on momentum of macroeconomic indicators. Thanks to these signals we are able to allocate funds among different asset classes. To make it easy, our model tries to figure out whether in the near future there will be a slowdown in economic data or even worst, if there will be a recession. Following this example (recession), we would change the asset class into which the fund invests, and move for example from stocks to cash or safe treasury bonds."
The model was tested on different markets and the signals allowed it to outperformed related benchmarks. Relying on a macroeconomic model based on momentum signals is more objective than a standard momentum strategy, which is based on the asset classes’ prices and can be influenced by market players, Wisniewski adds. He expects more fluctuations of business cycles in the foreseeable future, and the model will help him interpret them.
MINING THE INTERNET COMMUNITY
In the fund’s investment strategy, the manager believes the best potential for long-term capital appreciation is through equities investing and it is important to look at things from different perspectives; he does do not only follow research from investment banks but also from the Internet community of independent investors, strategists and industry players. Research published last year in the Wall Street Journal lends credibility to the idea that the "wisdom of crowds" phenomenon applies not just to encyclopaedia entries and restaurant reviews, but also to stock market predictions, he notes.
When asked about the pros and cons of internet analysis, Wisniewski says: "Internet analysts seem to be more independent and free thinkers due to their non-strict relationship with the companies that they try to analyse, not to mention their different backgrounds and geographical locations. These analysts are also sometimes able to dig more into the companies they study because they can come from that particular industry or sometimes even that company. For example, an engineer working for a Chinese real estate company could potentially give better insights on this kind of company than an analyst sitting in an office
located on the other side of the world. There is also the risk that the financial data (e.g. balance sheet, cash flow statement, income statement, etc.) are not of a good quality. So to address this issue, we use well-known financial data providers when we analyse raw financial data.
"Of course, we review their audited annual reports because this is the place where you have got all the company information; you can’t be biased. Moreover, we do not follow one idea without testing it against many other researches on the same subject and even against the comments expressed at the end of the research by other analysts."
"The bottom line," he continues, "is that you can have hundreds of people "working for you," creating a big and creative investment committee that would be hard to replicate in-house."
NEW FEEDER FUND
In 2012, Wisniewski sold his stake in Investors TFI to the other partners in order to start his own hedge fund. He had agreed to an anti-competitive close and was finally able to start the marketing campaign of the fund in late spring this year. The fund is now present in several hedge funds databases.
Macromoney decided to launch a feeder fund in Poland that would invest 100% in the hedge fund, the master fund, to accelerate the growth of the AuM.
"In October 2014, we are going to make the first issue of the feeder fund in Poland, under the Polish Securities and Exchange Commission (KNF)," he adds. "Polish institutional and HNWI clients are not familiar with offshore strategies so we preferred to create and accommodate this master/feeder structure to them."
Balancing Attractive Returns with Positive Effect
2015-05-07T17:07:41.805812-04:00https://www.thetrustedinsight.com/investment-news/balancing-attractive-returns-with-positive-effect-20150507023/
<a href="https://www.thetrustedinsight.com/profile/JoshCohen/"><strong>Josh Cohen</strong></a><strong>, Managing Partner, </strong><a href="https://www.thetrustedinsight.com/profile/firm/city-light-capital/">City Light Capita</a>l<strong>: Impact investing is a very important form of socially responsible investing. We are strong believers in the opportunity to generate attractive financial returns while at the same time achieving a significant net positive effect from a social and environmental perspective.</strong><br />
<strong>How did you end up getting involved in impact investing?</strong><br />
I have been making impact investments since 2004, before the term existed. At the time, this began as an experiment. We set out to find entrepreneurs using technology to prevent the next 9/11, but we didn’t know what we would find, if we could make money, if we were any good at it or if we liked it. Over time, we honed the thesis, built a team and raised a formal fund.<br />
Prior to Impact Ventures I was investing on behalf of family offices, worked at a technology company called Mobility Electronics and began my career as a technology banker in San Francisco at Deutsche Banc Alex Brown.<br />
<strong>Was there an “aha” moment when you knew that you were destined to be part of an impact strategy?</strong><br />
The pace of innovation in the late 90s tech scene was a good catalyst, and I think the seminal moment for me and my partners was probably 9/11. The market meltdown and global uncertainty post facto really was a call to action for our team. We thought about what the world would have said about us if we were in the buildings and didn’t think we had good enough answers. We were already successful entrepreneurs and investors and like-minded in the sense that we did not want to wait for the third act of life (like Dale Carnegie would suggest) to do good deeds upon retirement. We wanted to use our skills and capital to make a different as soon as possible. It makes me feel great to know that I am not waiting to make the world<br />
<strong>Impact investing is a bit broad, what are the industries that you are most focused on?</strong><br />
My partners and I have carefully reviewed the market opportunities and narrowed our focus to some key industries where we have significant knowledge and networks. We were also colored by the 9/11 experience and ultimately settled on education, environment, and safety with a focus on companies that use their core technology to effect change with business model consistent with the implementation of that technology. This lens has allowed us to achieve venture capital returns while simultaneously having a measurable positive impact.<br />
<strong>Can you share a big success story with us so that we have a better sense for the types of investment and associated impact?</strong><br />
While we are very proud of many of our investments, I am pleased to share that one of our companies, 2U (Nasdaq: TWOU) went public last year. 2U Inc. is an education technology company that partners with top colleges and universities to bring their degree programs and credit-bearing courses online. We have over 12,000 students in 17 graduate partner programs. This is one of the first times there has been high quality education at scale. <br />
<strong>How did you build your pipeline and how do you manage it?</strong><br />
Like many funds we have the usual traditional sources: our current portfolio entrepreneurs, co-investors, foundations, investment banks, law firms, and our personal networks et al. We do have an edge vis-à-vis peers via our involvement in herox (a joint venture with XPRIZE), City Spark (our seed fund), and the many relationships we have built with family offices – particularly those with a strong interest in impact & philanthropy. With regard to management we are really disciplined in our approach, but as you would suspect we are generally look at 300-400 companies a year (and fund 2-4).<br />
<strong>With a new fund on the horizon do you have any specific interests that you think you will spend more time on?</strong><br />
We will spend some time looking at the friction points that exist in education - high school to college, college to employment...There is a real skills gap that exists (especially for liberal arts majors looking for high quality jobs). The numbers in this economic recovery don’t really reflect the facts. Millennials and younger grads are still massively underemployed. We have recently funded Koru (<a href="http://www.joinkoru.com">www.joinkoru.com</a>) in a effort to address this problem.<br />
Thanks so much for your time Josh. Please see the <a href="https://www.thetrustedinsight.com/profile/firm/city-light-capital/">City Light Capita</a>l profile on Trusted Insight.
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Jim Rogers Shares His Latest Investment Targets
2015-05-06T14:12:07.010141-04:00https://www.thetrustedinsight.com/investment-news/jim-rogers-shares-his-latest-investment-targets-20150506782/
From North Korea to Iran, Rogers discusses his recent investments and where he thinks investors can get in early and win big.
Polish hedge fund Macromoney targets international investors
2015-04-21T10:31:58.625011-04:00https://www.thetrustedinsight.com/investment-news/polish-hedge-fund-macromoney-targets-international-investors-20150421823/
<span style="color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">From HFMWeek</span><br style="color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);"><br style="color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);"><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">Emerging manager Macromoney is preparing to target international investors as it steps up its marketing efforts, HFMWeek has learned.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">The $7.5m firm, which has a BVI-domiciled master fund, Polish feeder fund and operations also based in Warsaw, Poland, hopes to bring its asset levels to between $20m and $30m in the next 12 months.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">“We’re in advanced talks with a private bank in Poland,” portfolio manager and founder Maciej Wisniewski told HFMWeek, adding they also wanted to attract capital from HNWIs, family offices, and other accredited, institutional investors outside Poland.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">Macromoney is using the cap intro services of its administrator, Apex Fund Services, to raise its profile and will rely on the private placement regimes of relevant jurisdictions.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">The firm’s strategy is focused on developed market equities, futures and options, using fundamental research and a proprietary systematic model to identify undervalued assets and growth opportunities.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">The fund, Macromoney Global Investments Ltd., has a Cayman Islands-based investment manager, Macromoney Investments, and charges 1%/10%, offering investors quarterly redemptions with a 30 day notice period.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">Alongside Apex, other service providers include Interactive Brokers as prime broker, Deloitte as auditor and Maples and Calder as legal counsel.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">The firm started trading in January 2013 with internal capital, returning 34.7% in the first year and 25.5% in 2014, according to marketing documents seen by HFMWeek.</p><p style="margin: 5px 0px 15px; padding: 0px; border: 0px; font-weight: normal; -webkit-font-smoothing: antialiased; color: rgb(54, 54, 54); font-family: 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 21px; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255);">Macromoney, which has a six-strong team, plans to open a London office when it has increased its AuM, Wisniewski told HFMWeek.</p>
Amundi Names Head of European Equities
2015-03-24T10:35:07.427379-04:00https://www.thetrustedinsight.com/investment-news/amundi-names-head-of-european-equities-20150324518/
"Amundi has appointed Laurent Ducoin as Head of European Equities... Prior to joining Amundi, Ducoin was Head of European Equity Team and Fund Manager at Carmignac"
J.P. Morgan Goes Global With Second ETF
2014-11-19T11:36:43.581114-05:00https://www.thetrustedinsight.com/investment-news/jp-morgan-goes-global-with-second-etf-20141119706/
J.P. Morgan Chase (NYSE: JPM), the Wall Street banking giant, continues expanding its lineup of exchange traded funds, this time with an eye toward international markets with the introduction of the ...
J.P. Morgan Asset Management Launches New ETF: JPMorgan Diversified Return International Equity ETF (JPIN)
2014-11-19T11:33:36.200048-05:00https://www.thetrustedinsight.com/investment-news/jp-morgan-asset-management-launches-new-etf-jpmorgan-diversified-return-international-equity-etf-jpin-20141119703/
JPIN seeks to provide core international equity exposure with lower volatility by addressing issues inherent in market-cap weighted and single-factor indices, specifically excessive risk concentratio...