News
Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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ESG: ValueAct Salutes the BlackRock “Climate Change of Heart”
ValueAct founder Jeffrey Ubben expressed his excitement this week that BlackRock chief Larry Fink had sounded an alarm around climate change. The founder of the $17 billion hedge fund has been one of the biggest supporters of ESG factors in corporate governance.
ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix
Larry Fink’s emotionally charged plug for ESG ticks all the investment boxes for Tesla.
According to Cramer, electric car maker Tesla could be a beneficiary of BlackRock’s new-found love for everything ESG.
Liquid Alternatives: The iMaps Investment Strategy Based ETI Launches for Retail Investors On Vienna Bourse
The first Exchange Traded Instrument (ETI) from the Liechtenstein-based iMaps ETI plc launched on January 13 on the Vienna Stock Exchange.
Asset manager and BaFin licensed PP Asset Management, which runs the Haack investment strategy, launched the Haack Performance ETI on Monday. Hans-Jürgen Haack, Senior Manager at PP Asset Management, masterminded the strategy. It has delivered a return of 20% over the past year.
Digital Assets: “Its Utility Will Drive The Value of Bitcoin, Not Speculation,” Says Bitcoin Jesus
Roger Ver, nicknamed Bitcoin Jesus for his championship of the digital currency, says BTC is now a pyramid scheme.
Speaking to BlockTV, Ver said the sole argument in favor of continued adoption of Bitcoin Core was the assumed appreciation in its value. In contrast, Bitcoin Cash rested on the bedrock of its utility for people.
Liquid Alternatives: In 2019, Globally, and especially in Europe, ETFs Raked It In
The global ETF market drew in inflows of nearly half a trillion euros (€495bn) in 2019.
But European ETFs were a standout, pulling in €104bn of net new assets, and setting a new record, according to data from Amundi Asset Management cited by INVESTMENT WEEK.
The DailyAlts Playbook – Trump’s Search for Ken Griffin, Souvenir Impeachment Pens, Family Office Flows, and Kyle Bass’s Hong Kong Warning – January 16, 2020
This morning, U.S. markets are ticking higher as markets largely ignore Impeachment drama in Washington and cheer the Phase One trade deal between the U.S. and China. The dollar is steady. Solid earnings from Taiwan Semiconductor Manufacturing gave investors the sense that headwinds facing the global economy are calming.
Investment Company Institute: Funds are Pouring Money into Bonds
The Investment Company Institute cited the largest outflows of capital from mutual funds and ETFs since September. During the first full week of 2020, fund investors pulled $13.1 billion out of the vehicles.
Hedge Funds: Bridgewater Co-CIO Is Bullish on Gold Prices
Bridgewater Co-CIO Greg Jensen believes that gold prices could hit $2,000 or more. Jensen told the Financial Times this week that geopolitical uncertainty and inflationary policies could press gold at least 30% higher. In the conversation, Jensen cited ongoing tensions between the U.S and Iran. He also mentioned concerns about income inequality in the United States.
Private Equity: AMP Capital’s Global Infrastructure Fund II (GIF II) Fund Closes with $3.4B Kitty
In an impressive encore, AMP Capital’s latest Global Infrastructure Fund II romped home with $3.4 billion, well-ahead of its targeted raise of $3 billion. The predecessor fund raised $2.4 billion in January 2017.
Artificial Intelligence: Chinese Think Tank Doesn’t Think AI and Robots Will Destroy Jobs
The Chinese people need have no fears that their jobs would be taken over by artificial intelligence and robots says a government report.
According to a report by The Chinese Academy of Social Sciences, artificial intelligence (AI) is unlikely to put millions of Chinese out of jobs. On the contrary, a report from the Chinese government’s think tank says additional jobs would be created due to the adoption of AI.
Digital Assets: Fidelity Digital Assets UK To Provide Bitcoin Custody Services to European Fund
The UK-regulated Nickel Digital Asset Management announced Tuesday it’s launch of the Nickel Digital Gold Institutional Fund, its second cryptocurrency offering. The digital assets of the fund will be secured using long-term cold storage provided by Fidelity Digital Assets. For Fidelity, Nickel Digital represents its first European partner fund.
Fidelity Investments, the $7.8 trillion investment management giant, incorporated its UK arm on December 16, 2019. Its brief: to provide crypto services to European businesses, hedge funds, and family offices.
Venture Capital: New, Boston-Based VC Firm to Target Insurtech and Fintech
Boston-based Brewer Lane Ventures is a newly minted venture capital firm that launched January 9. Brewer Lane is founded by John Kim, who was previously President and Chief Investment Officer of New York Life Insurance Company. The firm will focus on investing in the rapidly growing insurtech (insurance+tech) and fintech (finance+tech) industries. Within these industries, it will target early-stage companies looking for Series A and B rounds of funding.
Digital Assets: Two Blockchain Devices That Pressed The Right Buttons at CES 2020
Device security fanatics will welcome the blockchain based phone and camera. CES 2020 did – with innovation awards.
The Consumer Electroncis Show (CES) 2020 at Las Vegas honoured the Blok on Blok (BOB) phone from Pundi X and the UCAM camera from IoTeX with CES 2020 Innovation Awards, reports coindesk.
Both products rely on the blockchain to address privacy and security concerns.
The DailyAlts Playbook – A Ponzi Scheme that Bilked Berkshire Hathaway, Infrastructure Expectations, Larry Fink’s Climate Change Letter, and Bridgewater’s Take on Gold
Today, the DailyAlts Playbook talks a Ponzi Scheme that bilked Berkshire Hathaway, infrastructure expectations, Larry Fink’s climate change letter, and Bridgewater’s take on gold.
ESG: A Firm’s ESG Investments Could Launch a Virtuous Circle – ISS Report
There is a mutual cause-and-effect relationship between a firm’s ESG investments and its profitability, says a report by ISS ESG.
ISS ESG is the responsible investing arm of Institutional Shareholder Services (ISS). The ISS study found that those firms which invest in improving their ESG corporate ratings are also more profitable.
Artificial Intelligence: Ex-Goldman CIO Makes Leap to Healthcare
Marty Chavez walked away from Goldman Sachs in late 2019. Now, he’s sitting on the board of artificial intelligence startup Paige. The New York-based firm uses AI to detect, diagnose, and improve the treatment of cancer.
Real Estate: Only 16% of Loans to Indian Real Estate is under “Severe Stress,” Says Report
Only 16% of Loans to Indian Real Estate is under “Severe Stress,” Says a Report from Anarock Capital. This statistic should be heartening news for beleaguered Indian real estate.
Venture Capital: Goodyear Launches New Venture Fund at CES 2020
Goodyear, one of the world’s largest tire companies, plans to advance the future of mobility with a $100 million venture capital fund. The company announced the fund, dubbed Goodyear Ventures, at Las Vegas, where it was participating in the 2020 Consumer Electronics Show.
Alternative Investments: This ETF Copycats Top Hedge Funds and Undercuts Their Fees
Launched in December, the iM DBi Hedge Strategy ETF (DBEH) is an actively-managed ETF. Its objective: to match or outperform the largest Global Equity Long/Short hedge funds from the HFR (Hedge Fund Research, Inc.) database.
Digital Assets: CME Options on Bitcoin Futures Now Trading
CME commenced trading in Bitcoin options on Monday.
On the first day of trading, Bitcoin options worth $2.19 million traded on CME. This was ahead of the volume of $1.15 million traded on the rival Bakkt exchange.
Alternative Investments: A Bidding War For Voya Financial May Happen This Year
Voya Financial may become a possible takeover target in the coming months, according to the Financial Times. The report indicates that the former ING Group insurance unit and retirement plan provider has explored a possible sale. Voya reportedly spoke with AIG, Principal Financial Group, and Prudential Financial in 2019 about a deal.
Private Equity Merger: Aksia Buys Out TorreyCove Capital Partners
New York advisory Aksia will purchase private equity consultancy TorreyCove Capital Partners. The deal will see the two firms marry under the name Aksia. Aksia has specialized in private credit and hedge fund strategies. TorreyCove has specialized in private equity and real asset strategies.
Alternative Investments: Lazard Asset Management Launches High-Conviction Strategy Fund
Lazard Asset Management has made yet another splash in thematic investing. The firm has launched a new fund employing a high-conviction global equity strategy. The company announced the strategy behind the new Lazard Global Thematic Focus fund. The strategy will invest in at least 35 to 50 companies around the globe.
FinTech: Visa Snaps Up Fintech Network Plaid for $5.3 Billion
Visa Snaps Up Fintech Network Plaid for $5.3 Billion. Plaid allows people to connect their finances to apps.
Fintech applications need to connect up with a user’s financial accounts to deliver true benefits of immediate updation and convenience.