News round-up: ExodusPoint bolsters long/short equities unit with new launch; ACA Group snaps up eComms surveillance firm; Unigestion grows liquid alts offering with global macro fund

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ExodusPoint bolsters long/short equities unit with new launch

New York based ExodusPoint Capital Management has launched a new fundamental long/short equities business unit, WestWind Asset Management.

WestWind, launched in a bid to expand the firm's long/short equity business, will be managed by Robert Bovo, one of ExodusPoint’s long/short equity portfolio managers who has been with the firm since 2019. The firm, which manages around $14bn, currently comprises more than 30 portfolio managers operating a long/short equities strategy,

ExodusPoint's Co-Founder and Head of Equities, Hyung Lee, has worked with Bovo for over a decade at both ExodusPoint and Millennium Management.

"We look forward to expanding our existing partnership with Robert and leveraging his expertise and more than 20 year tenure in the industry to establish a new fundamental long/short unit that will operate alongside our well established equities business," said Lee. "The formation of WestWind exemplifies ExodusPoint's portfolio manager centric model, which offers many creative and flexible solutions to enable our investment professionals to achieve their goals."

Before joining ExodusPoint, which made history as the largest ever hedge fund launch with $8bn in 2018, Bovo managed a global fundamental technology and media portfolio at Millennium Management. Prior to Millennium, he was a portfolio manager at Diamondback Capital and previously launched and managed the hedge fund XI Capital Partners. 

ACA Group snaps up eComms surveillance firm

Risk and compliance advisor ACA Group has acquired Catelas, a machine learning-based electronic communications (eComms) surveillance and investigations platform.

ACA said the deal with Catelas, which specialises in offering intel on eComms, trade alerts, and voice calls to provide firms with a view of potential high-risk activities and behaviours across their organisation, would grow the surveillance capabilities of its RegTech platform.

ACA said that sometime in 2022, Boston-based Catelas will integrate with ACA’s platform, ComplianceAlpha, which will allow firms oversight of control room activities, trade and eComms surveillance, wall crossing, bribery, and other material risks through one central platform.

“Electronic communications surveillance is critical to compliance and is becoming increasingly complex as firms move to Microsoft Teams, WeChat, Slack, Zoom, and other virtual communications tools,” said Eddie Cogan, ACA Group Partner and Founder of Catelas.

“Globally, firms are at risk if they are not diligent about tracking and surveilling activity alongside personal and firm investments. We’re excited to join the ACA team and deliver Catelas’ advanced eComms analytics within ComplianceAlpha.”

Unigestion grows liquid alts offering with global macro fund

Specialist asset manager Unigestion has added a global macro fund to deliver absolute and risk-adjusted returns, to its liquid alternatives portfolio.

The Uni-Global - Global Macro Fund, a sub-fund of the Luxembourg domiciled Uni-Global SICAV, manages long and short exposure to asset classes by combining three independent systematic and discretionary investment approaches – systematic macro allocation, discretionary macro allocation and systematic macro trading – that do not have a long-term, structural bias to any financial asset.

The strategy sits among a suite of cross-asset strategies aimed at various types of investors. The cross-asset team is headed by Jerome Teiletche.

“In today’s environment of low yields and stretched valuations there is significant demand from investors for a product that can help them provide diversification in a liquid and transparent way,” said Teiletche. “The Uni-Global - Global Macro Fund, with its unique blend of systematic and discretionary investment approaches, seeks to deliver absolute and consistent returns over time.”

This is the second fund launch of 2021 for the team, who launched the Unigestion Classic Strategic Fund, a US dollar denominated multi asset fund domiciled in the Cayman Islands.

Stephanie Taylor

Head of Event Content, HFM

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