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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Vanguard Launches Actively Managed International Fund
A new Vanguard fund has launched to add to the firm’s list of mutual funds and ETFs launched under CEO Tim Buckley. The company has unveiled the Vanguard International Core Stock Fund (VWICX). It is the fourth actively-managed product to arrive at the company this year. The three other funds launched this year are Vanguard Global ESG Select Stock Fund, Vanguard Commodity Strategy Fund, and Vanguard Global Credit Bond Fund. At this pace, they might run out of managers.
The DailyAlts Playbook – October 3, 2019
Today, the DailyAlts Playbook talks Trump tariffs on the things we love, Libra’s woes, the ESG Gold Rush, and a special lunch with Bill Ackman.
The Dow was flat on Thursday and unable to get any footing after a massive downturn yesterday. The markets continue to raise concerns about economic data and growth while monitoring ongoing trade developments. With trade dominating the headlines, let’s dive into the two related stories driving sentiment.
WSJ: Libra May Lose Key Partners over Regulatory Scrutiny
The Facebook Libra cryptocurrency project could lose key partners, according to the Wall Street Journal. However, the report did generate a response from David Marcus and Facebook.
Goldman Shakes Up Asia M&A Team after John Kim Leaves (And Other People on the Move)
Bank splits M&A leadership role between two rising stars Goldman Sachs has hired two new leaders to operate the company’s M&A group in Asia ex-Japan. The firm has appointed co-heads Raghav Maliah and Jung Min to replace partner John Kim. Maliah joined Goldman in 2000. He recently served as global vice-chairman of investment banking and…
Scared Of Falling Into Student Loan Debt? Try Cleo To Help Yourself Budget
Cleo is the fastest-growing fintech app in history. It’s a money management tool with a sense of humor and “zero-tolerance policy for bullsh*t.”
Barnaby Hussey-Yeo, a data scientist, founded AI-powered Cleo out of London. It was intended to be a fun-filled budgeting tool for “Gen-Zennials” – a friend in the pocket that speaks their lingo to help them save money.
It soon turned into a money-management revolution. Hitting the US market in summer 2018, Cleo now has 2 million consumers.
Real Estate Economic Forecast is Rather “Meh” About Real Estate
The Real Estate Economic Forecast – authored by Urban Land institute – hit the street today.
It’s not as bad as we might have expected.
The survey offers a consensus forecast of 41 economists and analysts at 32 leading real estate organizations.
Blackstone Continues Real Estate Buying Spree
The Blackstone real estate buying spree continues. The private equity firm has continued its rapid deployment of funds into real estate with another purchase.
On Tuesday, the firm announced it would purchase a 65% controlling interest in Great Wolf Resorts.
RRJ Capital: There’s Gold In Those Eastern Roads
RRJ Capital isn’t a household name to most Western investors. But the Asian private equity firm is tapping into an asset class that often goes ignored: Toll roads.
Why McAfee Expects Bitcoin to Touch $1 Million by 2020
John McAfee explains in a Forbes interview why he thinks Bitcoin will climb to $1 million by 2020.
McAfee’s bitcoin prediction, famously made in 2017, is still alive and kicking despite the stomach-wrenching volatility in the value of the cryptocurrency.
John McAfee is a colorful tech personality who founded computer firm McAfee Associates. He is also a 2020 United States presidential campaigner.
Mapletree Commercial Buys Google’s HQ in Singapore
Mapletree Commercial Trust has purchased Google’s Asia Pacific headquarters in Singapore. The acquisition is part of an S$1.55 billion ($1.14 billion) deal for four buildings in Pasir Panjang.
Natwest Will Use AI To Predict Financial Market Patterns
NatWest will collaborate with Microsoft and DreamQuark to harness the power of artificial intelligence (AI) to simulate financial markets.
NatWest, Microsoft, and DreamQuark will develop a new platform called Next Generation Complex Analytics. The platform will use AI to learn from financial markets, transport networks, and other such structures. After that, it will apply this learning to detect opportunities and risks in real markets.
Can Apollo Get a Win with ADT after Canadian Services Sale
ADT announced is selling ADT Security Services Canada to TELUS Corporation. Terms of the deal are CAD 700 million in cash, subject to certain adjustments.
Liquid Alternatives: Schroders’ GAIA Platform Launches Nuveen’s US Equity Strategies
Investors outside the US may now access Nuveen’s US equity long-short and equity market neutral strategies through Schroders.
Schroders and Nuveen have tied-up to offer two new funds on the Schroders UCITS GAIA platform.
The funds, Schroder GAIA Nuveen Equity Market Neutral and Schroder GAIA Nuveen Equity Long-Short funds focus on large-cap US equities. Further, they offer the added advantage of daily liquidity without a performance fee.
Preqin Releases ESG Indicators
Preqin ESG scoring is now an offering for companies. Preqin established a methodology and common benchmark for managers to measure performance and reach financial and ESG targets.
AssetMark Financial Holdings Buys OBS Financial
AssetMark Financial Holdings announced an agreement with Canandaigua National Corporation to buy OBS Financial. OBS is a turnkey asset management platform.
Credit Suisse To Include ESG Criteria in Fund Assets Worth CHF 100 Billion By 2020
Credit Suisse Asset Management is set to introduce an ‘environmental, social, and corporate governance (ESG)’ investing framework across its funds The Credit Suisse ESG initiative will initially include 30 funds carrying assets more than CHF 20 billion. These funds will therefore need to reposition by end-October 2019 under the Credit Suisse Sustainable Investing Framework. Ultimately,…
Credit Suisse COO Out Due to Spying Scandal (and Other People on the Move)
The Credit Suisse COO has stepped down after a bizarre spying scandal rattled the firm. An internal probe at the firm found that Pierre-Olivier Bouée ordered the spying on the bank’s former head of wealth management.
Wave Financial Launches Yield Fund Based On Cryptocurrency Derivatives
Wave Financial is addressing the fast-developing interest in option strategies in the cryptocurrency sector with its Wave Bitcoin (BTC) Income and Growth Digital Fund. The Wave Financial fund will hold reserves of Bitcoin (BTC) in the custody of Fidelity Digital Assets. The fund will generate income by earning a premium from selling call options on the fund’s BTC reserves with strikes 20% or more above the current BTC trading price.
Franklin Templeton and K2 Advisors Launch Liquid Hedge Fund Strategies
The Franklin Templeton Alternatives Funds (FTAF) offers five new liquid hedge fund strategies through K2’s managed account platform.
Wasatch Global Investors Launches Two New Funds
Wasatch Global Investors has launched two new mutual funds. They are the Wasatch International Select Fund and the Wasatch Global Select Fund.
Challenger Bank Revolut’s Losses Double As Costs Surge
Revolut, the challenger bank and famed European unicorn, lost £32.8 million ($40.3 million) in 2018. The UK-based fintech reported a 247% jump in its cost of sales attributable to user acquisition costs, card scheme charges, and aggressive global expansion. However, revenue surged 354%.
Leeds Equity Partners Buys VitalSmarts from TwentyEighty
Leeds Equity Partners has acquired VitalSmarts from TwentyEighty. Vital Smarts is a provider of communication, execution, and, leadership development training.
Artificial Intelligence: Novartis And Microsoft Team Up to Transform Global Medicine
Novartis announced its plan for founding the Novartis AI innovation lab in collaboration with Microsoft as the AI and data-science partner. The Novartis-Microsoft alliance will “reimagine medicine” and boost Novartis’ AI capabilities. The new lab will discover and develop transformative medicine for patients globally.
Credit Suisse Asset Management Makes ESG Announcement
Credit Suisse Asset Management announced plans to adopt ESG factors into all of its investment decisions. The firm said that any fund with more than CHF 20 billion in assets will implement ESG criteria into its framework.