June 16, 2016 | Permalink
Fund Name: Griffin Institutional Access Global Credit Fund
Adviser: Not specified (The Adviser is an indirect majority-owned subsidiary of Griffin Capital Corporation)
Sub-Adviser(s): Not specified
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment for regular accounts, $1,000 for retirement plan accounts; $100 minimum subsequent investment for regular accounts, $50 for retirement plan accounts (Class A and C)
Filing Date: June 3, 2016
Effective Date: Pending
   
Fund Name: Oppenheimer Macquarie Global Infrastructure Fund
Adviser: OFI Global Asset Management Inc.
Sub-Adviser(s): OppenheimerFunds Inc. (sub-adviser), Macquarie Capital Investment Management LLC (sub-sub-adviser)
Fees: 0.9% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $1,000 minimum initial investment (Class A, C, R and Y); $500 minimum initial investment for Traditional and Roth IRA, Asset Builder Plan, Automatic Exchange Plan and government allotment plan accounts; No minimum initial investment for wrap fee-based programs, salary reduction plans and other retirement plans and accounts.
Filing Date: Feb. 5, 2016
Effective Date: May 23, 2016
   
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
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June 9, 2016 | Permalink
Manulife Asset Management, the global asset management arm of Manulife Financial, named Chris Fellingham as senior managing director and head of Liquid Alternative Strategies, effective June 13. The newly created role is intended to drive the firm's growth strategy in the liquid alternative space. Most recently, Fellingham was CIO of Ignis Asset Management and previously served as CEO and partner of Soros Fund Management U.K.
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June 8, 2016 | Permalink
A large majority of affluent millennial investors are interested in alternative mutual funds, according to an online survey by AMG Funds, the U.S. retail distribution arm of global asset management company Affiliated Managers Group. The survey found that 83% of investors aged 18-35 are open to a broader approach to investing, including alternative products, compared to 52% of those older than 35. More than half of the millennials surveyed currently invest in alternative strategies, 69% indicated a desire to learn more about the benefits of alternative investing and 70% said that a liquid alternative mutual fund would benefit their current investment portfolio.
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June 8, 2016 | Permalink
The SEC adopted rules establishing timely and accurate trade acknowledgment and verification requirements for security-based swap (SBS) market participants that enter into SBS transactions. The rules are designed to promote the efficient and effective operation of the SBS market. The requirements are part of the regulatory framework required for SBS deals by the Dodd-Frank Act.
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June 6, 2016 | Permalink
Alternative mutual fund firm Context Asset Management hired Matt Rowe as chief strategy officer, responsible for investments, strategy, risk management, distribution, operations and marketing. He most recently acted as head of liquid strategies at Achievement Asset Management, in addition to previous positions at PEAK6 Advisors, Tamalpais Asset Management and Marin Capital Partners. The Bala Cynwyd, Penn.-based firm's long-term growth plan includes adding single- and multi-manager alternative mutual funds to its existing $74.5-million product line.
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June 3, 2016 | Permalink
American Beacon Advisors hired Paul Cavazos as senior vice president and chief investment officer, effective June 20. Previously the chief investment officer and assistant treasurer at DTE Energy Company in Detroit, he will oversee corporate pension plan investments and the investment sub-advisors of the American Beacon Funds. Irving, Texas-based American Beacon has $51.4 billion in total AUM, including three liquid alternative mutual funds and a group of private equity funds of funds.
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June 2, 2016 | Permalink
A coalition of nine major business and financial industry groups filed a lawsuit in the U.S. District Court in Texas challenging the Department of Labor's fiduciary rules. The coalition includes the U.S. Chamber of Commerce, Financial Services Roundtable and the Securities Industry and Financial Markets Association. The groups had fought for years to derail the regulatory effort, arguing it would be burdensome and make it impossible to provide retirement advice for some investors. The suit claimed DOL overstepped its bounds by crafting the new rules and that instead, the SEC should have led any such rule-making effort. The fiduciary rules would require investment advisers providing retirement advice to act solely in the clients' interest.
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June 2, 2016 | Permalink
Fund Name: Oppenheimer Macquarie Global Infrastructure Fund
Adviser: OFI Global Asset Management Inc.
Sub-Adviser(s): OppenheimerFunds Inc. (sub-adviser), Macquarie Capital Investment Management LLC (sub-sub-adviser)
Fees: 0.9% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $1,000 minimum initial investment (Class A, C, R and Y); $500 minimum initial investment for Traditional and Roth IRA, Asset Builder Plan, Automatic Exchange Plan and government allotment plan accounts; No minimum initial investment for wrap fee-based programs, salary reduction plans and other retirement plans and accounts.
Filing Date: Feb. 5, 2016
Effective Date: May 23, 2016
   
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
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June 2, 2016 | Permalink
The SEC named Christopher R. Hetner as senior adviser to the chair for cybersecurity policy, advising commission chair Mary Jo White on all cybersecurity policy matters. He will be responsible for coordinating efforts across the agency to address cybersecurity policy, engaging with external stakeholders and further enhancing the SEC's mechanisms for assessing broad-based market risk. He has been with the SEC since January 2015 and previously served as cybersecurity lead for the Technology Control Program within the Office of Compliance Inspections and Examinations.
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May 26, 2016 | Permalink
The CFTC released a supplemental rule to its December 2013 position limits proposal that will modify the procedures proposed for persons seeking exemptions from speculative position limits for non-enumerated bona fide hedging. It would also define procedures for recognition of certain anticipatory bona fide hedge positions. Specifically, the rule proposes to further amend certain definitions, including the general definition of "bona fide hedging position" for physical commodities under the standards in Commodity Exchange Act section 4a(c). The CFTC also proposed to delay the requirement to establish and monitor position limits on swaps for DCMs and SEFs that lack access to sufficient swap position information.
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