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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AllFunds Reaches New Partnership With BNP Paribas
AllFunds has announced a partnership with BNP Paribas. According to terms, BNP is taking a 2.5% stake in the world’s largest fund distribution network.
Cars with Blockchain-Based IDs Will Become Wallets (Maybe Even Cryptos)
With a blockchain ID, your electric car could soon become a mobile wallet and pay for tolls, parking, and charging – no cash or cards needed.
BMW, General Motors, Honda, Ford, and Renault have partnered with the Mobility Open Blockchain Initiative (MOBI) to assign blockchain IDs to their cars. The unique ID of each car and its associated ownership data will allow for the car to automatically make payments. These car-related payments could be for charging, parking, highway tolls, and even rest stop snacks.
Bank of America Joins the Zero-Commission Wars
Bank of America has joined the chorus of brokerages to slash commissions to zero through its Merrill Edge Self-Directed platform. The company said Monday that it will expand its zero-dollar to Preferred Rewards customers. It will also reduce commissions for all other customers.
Deutsche Bank Adds ESG ETF through DWS
Deutsche Bank has bolstered its “responsible” investment offerings through its asset management arm, DWS. The money manager will provide exposure to emerging markets with an ETF tied to environmental, social and governance (ESG) factors.
Alternative Mutual Fund: Gabelli ABC Fund – Class AAA (GABCX) Merger Arbitrage Fund
An analysis published by Josh Ortner in Seeking Alpha draws attention to Gabelli ABC AAA GABCX, a merger arbitrage fund managed by Mario J Gabelli.
Since 1994, the fund has generated steady market-neutral returns of 5.21% CAGR.
It is a suitable market strategy in the current situation when equities are hitting new highs, and bond market yields touch new lows.
The Oldest Tea Company in the World is Going Hi-Tech with AI and Drones
Assam Company India Limited (ACIL) is using technology to improve traceability, productivity, and crop spraying safety at its tea gardens.
Imagine this. You enjoy a cup of the legendary Assam tea and want to tip the tea garden worker who plucked it. Now you can – through an app to be launched by the Assam Company.
Libra May Change to Many Country-Specific Stablecoins
The Libra stablecoin, which is to be backed by a basket of fiat currencies, may change its model. David Marcus, Libra’s head, revealed this at a banking seminar.
“We could do it differently,” he said. “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stable coin, etc.”
Tim Melvin: The Case for Private Equity Replication
Private equity replication represents a unique opportunity for investors to avoid the high costs of PE investment. Forbes Magazine recently ran a story about the high barriers to entry for private equity investors.
Howard Marks: The Negative Interest Rates Memo
Howard Marks has released his latest memo. In the lengthy memo marked “Re: Mysterious,” he talks about the impact of negative interest rates. More importantly, he talks about how little anyone knows about a world where the U.S. has negative interest rates.
AT&T and Activist Elliott Management Said to Be in Talks
According to the sources, AT&T and Elliott Management have held discussions, and there is an ongoing dialogue. The two parties may likely agree as early as this month, the Wall Street Journal said. However, there is still a risk that talks could break down.
Medtronic Launches the First Ever Artificial Intelligence-Based System for Colonoscopy
Medtronic’s GI Genius Intelligent Endoscopy Module uses artificial intelligence to detect colorectal polyps. Medtronic has taken a major step forward in the fight against colorectal cancer through intelligent endoscopy. Colorectal cancer is the third most common cancer worldwide, with 1.8 million new cases reported annually. Therefore, Medtronic’s GI Genius module uses artificial intelligence to highlight…
“What’s Next? Investment Trends for the Future” – A New Study Gauges the Institutional View Three Decades Into the Future
The poll explores institutional investors’ sentiment and allocations regarding the dominant economic trends in the global economy.
Investcorp, a leading global provider and manager of alternative investment products, conducted the new study. It showed that 78% of respondents were very confident that an aging population would be the most important trend over the next thirty years.
Nearly 770,000 Indexes Scrapped In 2019, Most from Equities
A survey of the global index universe by the Index Industry Association (IIA) shows the count of indexes declined by 20% in 2019 from 2018.
The total number of indexes had grown from 3.29 million in 2017 to 3.73 million in 2018 but has declined sharply to 2.96 million in 2019.
Columbia Property Trust Will Buy Normandy Real Estate Management
Columbia Property Trust announced a deal to buy acquire Normandy Real Estate Management. The target company manages office- and mixed-use assets in New York, Boston, and Washington, D.C. The deal will see Columbia acquire Normandy’s operating platform. It will also purchase Normandy’s general partner interests in three active management funds.
Alts Fund Highland Capital Management Entity Files for Chapter 11
Highland Capital Management announced that one of its investment adviser entities has filed for Chapter 11.
The news comes after a long-winded battle with investors, according to court filings.
Bank of Canada Mulling a Digital Currency That Would Be Police-, and Tax-Friendly
According to The Logic, the Bank of Canada may be toying with the idea of issuing its own digital currency. One key, but a rather ominous advantage of a national digital currency listed in the presentation, is the sharing of personal information with the law enforcement or tax authorities.
Latin American Payments Processor EBANX Achieves Unicorn Status
Brazil-based fintech and payment processor EBANX is a newly-minted unicorn.
EBANX, which enables transactions between global companies and Latin American commerce, received a “significant” investment from FTV Capital.
AI In Toyota’s New LQ Concept Will Deliver a Personalized Mobility Experience
Toyota’s automated driving technology in its new “LQ” concept vehicle will build an emotional bond between car and driver. The LQ concept car from Toyota will have automated driving capabilities as well as Artificial Intelligence Agent “Yui.” Yui is a powerful AI-powered interactive agent. It trains itself through interactions with the driver and his facial…
Big Reveal by Dallas Fed President: Fed “Actively Looking at and Debating” a Digital Currency
In a significant disclosure, Federal Reserve Bank of Dallas President Rob Kaplan said the Fed is “actively looking at and debating” issuance of a US digital currency. The Fed could be mulling a US digital currency on fears that an upstart cryptocurrency could gain global adoption. The new currency may dislodge the US dollar from…
The DailyAlts Playbook – October 17, 2019
THE DAILYALTS PLAYBOOK October 17, 2019 Today, the DailyAlts Playbook talks about a Brexit Deal, Questions about ESG and China, Elizabeth Warren’s unsurprising announcement on finances, and just how rich that 35-year-old next door is (hint: he owns three houses). PRIME OVERVIEW Good morning, Global markets were ripping higher on Thursday thanks to significant developments…
Abu Dhabi Launches First-of-Its-Kind University of Artificial Intelligence
The Mohamed bin Zayed University of Artificial Intelligence, the world’s first dedicated AI University, was launched Wednesday in Masdar City.
The Mohamed bin Zayed University of Artificial Intelligence is an all-new graduate-level AI research institution in Abu Dhabi.
The University is currently accepting applications for its first Masters and Ph.D. programs, and classes will commence on September 2020. It offers a Masters of Science degree, which takes two years to complete, and a Ph.D. program of four years duration.
Ex-CFTC Heads Warn of Digital Challengers; Propose A Blockchain Dollar
Could a new-fangled digital currency move the US dollar’s cheese? “Complacency in the face of this threat risks lasting damage to the U.S. economy,” warn the former CFTC officials.
In an op-ed for the Wall Street Journal, J. Christopher Giancarlo and Daniel Gorfine recommend a digital blockchain dollar. They say that recent developments in digital currencies threaten the dollar’s pre-eminent status as a global reserve currency.
New KKR Leadership in Americas, Europe, and Asia Pacific
KKR leadership changes occurred this week. The private equity giant promoted six people (in three pairs) to lead the firm’s private equity businesses in the Americas, Europe, and Asia-Pacific.
London Stock Exchange Group Hires Tadashi Tago – (And Other People on the Move)
London Stock Exchange Group picks Bloomberg Leader for New Role in Japan The London Stock Exchange Group (LSEG) hired Tadashi Tago to the role of information services in Japan. Tago comes over from Bloomberg, where he ran the company’s index and analytics business. A report from The Trade indicates that Tago joined October 7. He will…