AIMA is developing educational resources to help Canadian investors with alternative investments as proposed amendments are aimed at modernizing National Instrument 81-102-Investment Funds, thereby providing greater access to that space, said Claire Van Wyk-Allan, AIMA's head of Canada. Investable assets available to Canada's liquid alternatives market are an estimated $78 billion, according to a 2017 report by the Canadian Imperial Bank of Commerce.
A report from Coalition says the biggest investment banks' revenue from prime brokerage services rose 20% in the first quarter, although an upward trend seems unlikely to emerge.
Net outflows for hedge funds in April rose to their highest point since October 2016 and were experienced by nearly two-thirds of hedge fund managers reporting to eVestment. "The strong should survive and prosper for the greater long-term health of the pack, and this appears to be exactly what is happening in 2018," eVestment said.
Three bills -- the Innovative Technology Arrangements and Services Bill, the Virtual Financial Assets Bill and the Malta Digital Innovation Bill -- have been introduced to establish a regulatory framework for cryptocurrencies in Malta.
Congress has passed and sent to President Donald Trump a measure that protects financial professionals who report financial exploitation and abuse of seniors. "Through increased education and awareness of the signs and symptoms of exploitation, the Senior$afe Act will empower and encourage financial professionals to report suspected cases of exploitation to law enforcement and other appropriate governmental agencies, thereby helping to prevent older investors from becoming victims," said Lee Covington, the Insured Retirement Institute's senior vice president and general counsel.
American Equity Investment Life Holding, a major provider of annuities in the US, confirmed reports that it is in talks that could lead to its sale. The company issued a statement saying it is "in preliminary discussions regarding a potential transaction."
Many employers would be wise to look into transferring their pension liabilities to an annuity purchased from an insurance company to reduce the size of the plan, says Elliot Dinkin, president and CEO of Cowden Associates. Taking that step can give a company greater control over its expenses and risks, he says.
Since the start of 2017, about $270 billion worth of
life, annuity and group benefits have switched hands, according to a Moody's Investor Services report. This trend could have negative consequences for policyholders and their financial advisors, said Laura Bazer, Moody's senior credit officer.
The Financial Industry Regulatory Authority's Robert Colby, executive vice president and chief legal officer, said Wednesday that the organization is bringing in economists to review existing rules. He noted that the retrospective rule review program is likely to slow down the rule-making process.
Strategic Storage Growth Trust, a SmartStop Asset Management publicly registered nontraded REIT, recently reported first-quarter total revenue of $4.4 million and $914,000 in funds from operations. Strategic Storage Trust II, another SmartStop publicly registered nontraded REIT, reported total revenue of $19.9 million and $5.5 million in funds from operations.