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Navigator Global Investments
Navigator Global Investments (NGI) is an Australian alternative investment management company headquartered in Toowong, Brisbane. It has been publicly traded on the Australian Securities Exchange (ASX) since 2006. Background The company was originally founded in 1998 as HFA Holdings Limited (HFA) by Spencer Young. In April 2006, HFA held its initial public offering to become a listed company on the ASX. Its listing price was A$1.10 per share. One of the companies that helped it list was MFS Limited which was also a cornerstone investor making it a significant shareholder. In December 2006, Young stepped down from role of CEO of HFA to take a more strategic role and was succeeded by Paul Jensen. Jensen was only with the company until September 2007 when he was dismissed from his role with Young taking back charge of the company. Jensen would later sue HFA for unlawful dismissal seeking more than A$7.15 million in damages. HFA's counterclaim stated Jensen engaged in seriou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listing (finance), listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation, though a corporation need not be a public company. In the United Kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intangible Asset
An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, exclusive franchises, Goodwill (accounting), goodwill, trademarks, and trade names, reputation, Research and development, R&D, Procedural knowledge, know-how, organizational capital as well as any form of digital asset such as software and data. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.). Intangible assets are usually very difficult to Valuation (finance), value. Today, a large part of the corporate economy (in terms of net present value) consists of intangible assets, reflecting the growth of information technology (IT) and organizational capital. Specifically, each dollar of IT has been found to be associated with and increase in firm market valuation of over $10, compared with an increase of just over $1 per dollar of investment in other tangible assets. Furthermore, firms that both make organizational capit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High-yield Debt
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events but offer higher yields than investment-grade bonds to compensate for the increased risk. As of 2024, high-yield bonds have a higher yield than U.S. Treasury securities. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner.:208 The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 198 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Macro
Global macro is an investment strategy that leverages Macroeconomics, macroeconomic and Geopolitics, geopolitical data to analyze and predict moves in Financial market, financial markets. Large-scale or "wiktionary:macro, macro" political and economic events can disproportionately impact certain Economic sector, sectors, such as the energy, commodity, and currency markets, over others. The strategy typically employs forecasts and analysis of interest rate trends, international trade and payments, political changes, government policies, international relations, and other broad systemic factors. History As a strategy, global macro formalized in the late-1960s around primary commercial Product (business), products. Large-scale macro events pushed market prices of both soft (Cocoa bean, cocoa, fruit and sugar) and hard (gold, silver, and copper) commodities to move in recognizable patterns. In the 1970s, interest rate modeling was used to predict moves in foreign currency markets as w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fund Of Funds
A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. This type of investing is often referred to as multi-manager investment. A fund of funds may be "fettered", meaning that it invests only in funds managed by the same investment company, or "unfettered", meaning that it can invest in external funds run by other managers. There are different types of FOF, each investing in a different type of collective investment scheme (typically one type per FOF), for example a mutual fund FOF, a hedge fund FOF, a private-equity FOF, or an investment trust FOF. The original Fund of Funds was created by Bernie Cornfeld in 1962. It went bankrupt after being looted by Robert Vesco. Features Investing in a collective investment scheme may increase diversity compared with a small investor holding a smaller range of securities directly. Investing in a fund of funds may achieve grea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volatility Arbitrage
In finance, volatility arbitrage (or vol arb) is a term for financial arbitrage techniques directly dependent and based on volatility. A common type of vol arb is type of statistical arbitrage that is implemented by trading a delta neutral portfolio of an option and its underlying. The objective is to take advantage of differences between the implied volatility of the option, and a forecast of future realized volatility of the option's underlying. In volatility arbitrage, volatility rather than price is used as the unit of relative measure, i.e. traders attempt to buy volatility when it is low and sell volatility when it is high. Overview To an option trader engaging in volatility arbitrage, an option contract is a way to speculate in the volatility of the underlying rather than a directional bet on the underlying's price. If a trader buys options as part of a delta-neutral portfolio, he is said to be ''long volatility''. If he sells options, he is said to be ''short v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Event-driven Investing
Event-driven investing or Event-driven trading is a broad term encompassing hedge fund investment strategies that seeks to exploit pricing inefficiencies that may occur before or after an event. Examples of such events could be an earnings call, bankruptcy, merger, acquisition, or spinoff. In more recent times market practitioners have expanded this definition to include additional events such as natural disasters, regulatory changes, and actions initiated by shareholder activists. However, merger arbitrage remains the best-known investment strategy within this group. This strategy was successfully utilized by Cornwall Capital Cornwall Capital is a New York City-based private financial investment corporation. It is best known as one of the few investors to foresee and profit from the subprime mortgage crisis of 2007, as described in the book ''The Big Short'' by Michae ... and profiled in " The Big Short" by Michael Lewis. History Event-driven investing "lost on average 1. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Waterfall Asset Management
Waterfall Asset Management (Waterfall) is an American alternative investment management firm headquartered in New York City. The firm's focuses investments in credit structured products mainly high-yield asset-backed securities (ABS). It also invests in real estate and private equity. Outside the U.S., Waterfall has offices in London, Dublin and Hong Kong. Background In the mid-1980s to the early 1990s, Tom Capasse and Jack Ross worked together at Merrill Lynch where they established its ABS Group. Ross worked on the first auto loan securitization in 1985 when he was previously at Drexel Burnham Lambert while Capasse crafted some of the first subprime mortgage-backed securities in the late 1980s for Merrill Lynch. They later went their own ways with Ross creating his own broker-dealer firm, Licent Capital while Capasse moved to the Macquarie Group managing the principal finance group. In late 2004, Ross called Capasse with an idea to start their own firm, Waterfall Asset ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Fund Management
Capital Fund Management (CFM) is a global asset management company based in Paris with staff in New York City and London. CFM takes a scientific and academic approach to finance, using quantitative and systematic techniques to develop alternative investment strategies and products for institutional investors and financial advisers. CFM has approx. 350 employees worldwide and manages $15 billion as of Aug 2024. History Founded in 1991 by Jean-Pierre Aguilar and Bruno Combier, CFM merged in 2000 with Science & Finance, a company founded in 1994 by Jean-Philippe Bouchaud as the research arm of CFM and an early pioneer in quantitative and systematic investment strategies. CFM's longest running programs use a multi-strategy, multi-asset approach to investing. In 2013 CFM broadened its offering with a range of alternative beta programs applying quantitative and systematic techniques to well-documented alternative investment strategies. People Since the death of Jean-Pierre Aguilar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capstone Investment Advisors
Capstone Investment Advisors LLC (Capstone) is an American investment management firm headquartered in New York City with additional offices in Europe and Asia. The firm specializes in volatility arbitrage which involves volatility and derivatives trading in various markets. Background Paul Britton, a native of Epsom in the United Kingdom graduated in 1994 from the London Metropolitan University and worked for Saratoga Limited, an options trading firm of Vincent Viola. He was a trainee trader who traded options on the London International Financial Futures and Options Exchange. During the 1997 Asian financial crisis and 1998 Russian financial crisis, he profited significantly. He was influenced by Thomas Peterffy and Timber Hill who were among the first to embrace algorithmic trading and its use in global volatility. In 1999, he, David Segel and several partners performed a management buyout of Saratoga and changed its name to Mako Global Derivatives. In 2001, Britton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dyal Capital
Blue Owl Capital Inc. is an American alternative investment asset management company. It is listed on the New York Stock Exchange under the ticker symbol: "OWL". The company is headquartered in New York City with additional offices around the world, including London, Dubai, and Hong Kong, among other major cities. In June 2024, Blue Owl Capital ranked 26th in Private Equity International's PEI 300 ranking among the world's largest private equity firms. History In December 2020, it was announced there would be a merger between Owl Rock Capital Group and Dyal Capital Partners. The two firms would combine with a special-purpose acquisition company, Altimar Acquisition Corp to form Blue Owl. The deal was valued at $12.2 billion which included a $1.5 billion commitment from investors such as ICONIQ Capital, Federated Hermes and Liberty Mutual. On May 19, 2021, the transaction was completed and Blue Owl was listed on the New York Stock Exchange. On October 18, 2021, Bl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minority Interest
In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 50% of outstanding shares, or the corporation would generally cease to be a subsidiary of the parent. It is, however, possible (such as through special voting rights) for a controlling interest requiring consolidation to be achieved without exceeding 50% ownership, depending on the accounting standards being employed. Minority interest belongs to other investors and is reported on the consolidated balance sheet of the owning company to reflect the claim on assets belonging to other, non-controlling shareholders. Also, minority interest is reported on the consolidated income statement as a share of profit belonging to minority shareholders. The reporting of 'minority interest' is a consequence of the requirement by accounting standards ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
