September 22, 2016 | Permalink
Fund Name: ACA/Prism Multi-Strat Alternatives Fund
Adviser: Crow Point Partners LLC
Sub-Adviser(s): Alternative Capital Advisers LLC
Fees: Advisory fee at the annual rate of 0.75% of the fund's average daily gross invested assets; The Adviser will also receive a fulcrum fee of between 0% and 1.50%, calculated using an annual base advisory fee rate of a specified amount of the average daily net assets of the Fund, adjusted by the Fund’s performance over a rolling 12-month period relative to the HFRI Fund of Funds Conservative Index.
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $25,000 minimum initial investment; $10,000 minimum subsequent investment
Filing Date: Sept. 13, 2016
Effective Date: Pending
   
Fund Name: Partners Group Private Income Opportunities LLC
Adviser: Partners Group (USA) Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; Unspecified minimum investments
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Crow Point Technology Opportunity 2021 Target Conversion Trust
Adviser: Crow Point Partners LLC
Sub-Adviser(s): Recon Capital Partners LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum initial investment of 100 common shares
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Invesco High Income 2023 Target Term Fund
Adviser: Invesco Advisers Inc.
Sub-Adviser(s): Invesco Asset Management Deutschland Gmbh, Invesco Asset Management Ltd., Invesco Asset Management (Japan) Ltd., Invesco Hong Kong Ltd., Invesco Senior Secured Management Inc., Invesco Canada Ltd.
Fees: Not specified
Open- or Closed-End: Closed-End (Annual repurchase)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Aug. 29, 2016
Effective Date: Pending
   
Fund Name: Peachtree Alternative Strategies Fund
Adviser: Homrich & Berg Inc.
Sub-Adviser(s): ABS Investment Management LLC
Fees: 1% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; $25,000 minimum initial investment, $5,000 minimum subsequent investment
Filing Date: Aug. 24, 2016
Effective Date: Pending
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September 16, 2016 | Permalink
Deputy assistant secretary Timothy Hauser is seeking to ease concerns that rules raising advice standards for retirement accounts could result in an increased number of lawsuits. The rule requires advisers act in the best interests of their clients, which Hauser said shouldn't cause advisers to be anxious about working with clients with modest assets over fears they may be sued since the liability exposure is relative to portfolio size. The comments came at the Financial Planning Association's annual conference in Baltimore, where several advisers told Hauser they questioned their ability to operate under the new regime.
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September 15, 2016 | Permalink
JPMorgan Asset Management launched its first alternative and actively managed ETF. The JPMorgan Diversified Alternatives ETF is designed to provide diversified exposure to hedge fund strategies including equity long/short, event driven and global macro strategies. The fund is managed by Yazann Romahi, global head of quantitative beta solutions at JPMorgan Asset Management.
Related News:
Old school fund companies Goldman, JPMorgan wade deeper into ETF market - Investment News (reg. req.)
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September 15, 2016 | Permalink
Managers of loan mutual funds are preparing for the release of final rules from the SEC that seek to improve the liquidity risk management of mutual funds and ETF. Under the proposal, funds would be required to include a liquidity classification of the portfolio based on the time needed for an asset to be converted to cash, a review of the fund's liquidity risk and establish a three-day liquid asset minimum, requiring a set percentage of assets be held in cash or invested in holdings that can be converted to cash within three business days. It is unclear what the final requirements of the rule will be.
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September 13, 2016 | Permalink
The North American Securities Administrators Association's 2015 enforcement report found 812 registered advisers were named as respondents in cases, compared to 791 unregistered firms or individuals. It represents the first time since state regulators began keeping enforcement statistics that more cases were brought against registered financial advisers than against unregistered entities. Overall, state regulators launched 4,487 investigations in 2015 and took 2,074 enforcement actions, resulting in $538 million ordered in restitution to investors and $230 million levied in penalties and fines.
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September 8, 2016 | Permalink
Fund Name: Partners Group Private Income Opportunities LLC
Adviser: Partners Group (USA) Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; Unspecified minimum investments
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Crow Point Technology Opportunity 2021 Target Conversion Trust
Adviser: Crow Point Partners LLC
Sub-Adviser(s): Recon Capital Partners LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum initial investment of 100 common shares
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Invesco High Income 2023 Target Term Fund
Adviser: Invesco Advisers Inc.
Sub-Adviser(s): Invesco Asset Management Deutschland Gmbh, Invesco Asset Management Ltd., Invesco Asset Management (Japan) Ltd., Invesco Hong Kong Ltd., Invesco Senior Secured Management Inc., Invesco Canada Ltd.
Fees: Not specified
Open- or Closed-End: Closed-End (Annual repurchase)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Aug. 29, 2016
Effective Date: Pending
   
Fund Name: Peachtree Alternative Strategies Fund
Adviser: Homrich & Berg Inc.
Sub-Adviser(s): ABS Investment Management LLC
Fees: 1% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; $25,000 minimum initial investment, $5,000 minimum subsequent investment
Filing Date: Aug. 24, 2016
Effective Date: Pending
   
Fund Name: Brookfield Real Assets Income Fund Inc.
Adviser: Brookfield Investment Management Inc.
Sub-Adviser(s): Schroder Investment Management North America Inc.
Fees: 1.00% of average daily managed assets
Open- or Closed-End: Closed-End
Investor Restrictions: Not specified
Filing Date: Aug. 10, 2016
Effective Date: July 12, 2016
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September 1, 2016 | Permalink
Alternative investment firm Ramius Alternative Solutions agreed to be acquired by global asset management firm AllianceBernstein. The acquisition of the $3-billion asset manager will allow AllianceBernstein to add "new investment capabilities" to its offerings, the firm stated. This includes access to Ramius's proprietary liquid alternative family Ramius Liquid Portfolios. Terms of the deal, which is expected to close by the end of September, have not been disclosed.
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August 31, 2016 | Permalink
A research paper from bfinance regarding Brexit impact found liquid alternatives will profit from increased dispersion tied to uncertainty at the stock and sector level. According to the paper, they have a low sensitivity to changes to GDP due to the diversity of strategies and return drivers. It also said they have a low sensitivity to inflation given LIBOR+ return targets and "the fact that relative value strategies typically hedge interest rates." According to the firm's head of risk and diversifying strategies, liquid alternatives and private debt will be of high relevance for asset owners in the coming months.
Related News:
Can liquid alternatives fill portfolio gap? - FT Adviser
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August 31, 2016 | Permalink
The SEC proposed rule and form amendments that would require registrants to include internet hyperlinks to exhibits in their filings. SEC Chair Mary Jo White said the change would make it easier to locate documents, which would benefit both investors and companies. Specifically, the proposal would require registrants filing registration statements and periodic and current reports subject to the exhibit requirements under Item 601 of Regulation S-K, or those filing Forms F-10 or 20-F, to include a hyperlink to each exhibit listed in the exhibit index. The amendments would also require registrants submit all of these filings in HTML format. The SEC is accepting public comment for 45 days following publication in the Federal Register.
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August 25, 2016 | Permalink
The SEC, which continues to tighten its oversight on the asset management industry, said it will require more information from investment advisers regarding their separately managed account businesses. Under the new rules, investment advisers will have to provide data on their use of borrowings and derivatives, as well as information on their use of social media. They will also have to maintain additional records on how they calculate and distribute performance information to help regulators determine the truthfulness of their advertising. "This additional information will provide investors and the commission with a better understanding of the risk profile of each adviser and the industry as a whole," SEC Chair Mary Jo White said. Investment advisers will have until October 2017 to comply with the new requirements.
Related News:
SEC steps up scrutiny of advisers' use of social media - InvestmentNews
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