April 21, 2016 | Permalink
Fund Name: NexPoint Merger Arbitrage Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: April 19, 2016
Effective Date: Pending
   
Fund Name: NexPoint Latin American Opportunities Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 24, 2016
Effective Date: Pending
   
Fund Name: NexPoint Distressed Strategies Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 24, 2016
Effective Date: Pending
   
Fund Name: First Trust Strategic Mortgage REIT ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): None
Fees: 0.85% Management Fee
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust Long/Short Currency Strategy ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): First Trust Global Portfolios Ltd.
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
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April 18, 2016 | Permalink
In a public meeting, the Financial Stability Oversight Council (FSOC) updated its two-year review of potential risks to the U.S. financial system from hedge funds, mutual funds and other funds' liquidity, leverage and redemptions. It declined to designate any asset managers as "systematically important," however the regulatory body did raise concerns about a concentration of leverage in large hedge funds and created a working group to study data on firms in a report on asset management. The group will be composed of member agency staff and will report by year-end on issues such as counterparty exposure, margin investing, trading strategies and possible standards for measuring leverage.
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April 18, 2016 | Permalink
The SEC's Office of Financial Management released its Registration Fee Estimator, an online tool that calculates registration fees for certain form submissions to the agency's EDGAR database. The new tool is designed to improve fee calculation accuracy and reduce the number of corrections. It covers common filings used to register initial public offerings, debt offerings, asset-backed securities, closed-end mutual funds, limited partnerships and small business investment companies.
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April 13, 2016 | Permalink
In an interview with Bloomberg Television, Larry Restieri, head of alternative sales at Goldman Sachs, discussed liquid alternative investments. Due to the funds' increase in popularity in recent years, he says they're still relatively unfamiliar territory for the average retail investor, even though they've existed for decades. He says that since most mutual fund investors typically only own stocks and bonds, educating potential liquid alternative clients about the additional asset classes that would be included in their holdings is essential. He added that the liquid alternative space will likely see more ETFs in the future as it continues to mature and welcome new participants.
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April 11, 2016 | Permalink
Marshall Sprung, co-chief of the SEC Division of Enforcement's Asset Management Unit, will leave the agency later this month. He has served as co-head of the unit for the past two-and-a-half years, during which time he supervised a nationwide staff investigating violations of federal securities laws by investment advisers, registered funds and private funds. Co-chief Anthony Kelly will continue to lead the unit following Sprung's departure.
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April 7, 2016 | Permalink
AXA Investment Managers hired Pierre-Emmanuel Juillard from Goldman Sachs to serve as head of a Hong Kong-based investment team developing liquid absolute return strategies. Juillard was previously the head of structured finance for AXA IM before leaving to become a partner at Goldman Sachs. He originally joined AXA IM in 1999 as head of financial engineering and asset and liability management studies.
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April 7, 2016 | Permalink
Blackstone announced it will no longer accept new investment in the Blackstone Alternative Multi-Manager Fund and it will liquidate the liquid alternative mutual fund by May 31. The decision came after a large redemption by Fidelity Investments, the strategy's main backer, which invested almost $1 billion in 2013. The fund had fallen to $629.8 million in assets from $1.2 billion at the end of February. However, Blackstone said it has allocated "significant resources to facilitate the continued growth" of its global registered fund platform that offers liquid investment solutions.
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April 7, 2016 | Permalink
Fund Name: NexPoint Latin American Opportunities Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 24, 2016
Effective Date: Pending
   
Fund Name: NexPoint Distressed Strategies Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 24, 2016
Effective Date: Pending
   
Fund Name: First Trust Strategic Mortgage REIT ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): None
Fees: 0.85% Management Fee
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust Long/Short Currency Strategy ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): First Trust Global Portfolios Ltd.
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust Equity Market Neutral ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): Perella Weinberg Partners Capital Management LP
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
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March 31, 2016 | Permalink
Lewis Katz was named chief business development officer for liquid alternatives specialist Franklin Square Capital Partners. The Philadelphia-based firm said Katz will seek growth opportunities and diversify distribution into additional sales channels through the expansion of its financial technology, marketing and educational initiatives. He joins Franklin Square from management consulting firm Blackboard Advisors and previously worked at such firms as 1798 Global Partners, Lombard Odier Asset Management, BAM and Dillon Read Capital Management.
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March 29, 2016 | Permalink
The Managed Funds Association (MFA) and the Alternative Investment Management Association (AIMA) submitted a joint comment letter to the SEC on its proposed rule on the use of derivatives by registered investment companies. Although the groups were generally supportive of several components of the proposal, including asset segregation requirements and an activities-based approach to regulation, they also expressed concerns over the adverse effects of the imposition of a notional-based leverage limit on registered funds. The letter also questions the SEC's attempt to redefine and regulate derivatives as "senior securities" under Section 18 of the Investment Company Act of 1940.
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Hedge funds for retail class face regulatory reckoning - Wall Street Journal
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