Newedge, a global leader in multi-asset class prime brokerage, execution and clearing services, announced today that the firm has been appointed as swap counterparty to two new UCITS funds under the Nuveen Global Investors Fund plc umbrella.
The new funds are Irish-domiciled and UCITS IV compliant. They are managed by Gresham Investment Management LLC, an investment affiliate of Nuveen – one of the world’s largest commodities investment managers.
Andrew Dollery, Director, Origination & Structuring for UCITS funds at Newedge said,“We are excited about working with a manager of Gresham’s pedigree and experience in this space. Today’s announcement is further recognition of our ability to offer clients innovative UCITS compliant services.”
He added: “Nuveen’s decision to bring one of the leading US commodity managers into UCITS is further validation of the important role regulated onshore investment products now play in the alternative investment community.”
David Levi, Nuveen Investments Managing Director for Global Business Development added,"We are delighted to partner with Newedge as the swap counterparty to these funds as their expertise helps facilitate our ability to offer investors exposure to Gresham’s Tangible Asset Program in a UCITS-compliant format. We believe the products provide important diversification benefits to many traditional investor portfolios outside of the United States.”
Newedge offers comprehensive synthetic prime brokerage and clearing solutions for regulated investment products and caters specifically for the needs of liquid systematic investment strategies. By working closely with other service providers, such as administrators and custodians, Newedge is able to offer clients maximum flexibility in structuring products to best suit their own strategies.
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Newedge (newedge.com), a 50/50 joint venture between Société Générale and Crédit Agricole CIB, is a major force in global multi-asset brokerage business, with a world-leading position in the execution and clearing of listed derivative products. With a presence in more than 20 locations in 16 countries, Newedge offers a full range of clearing and execution services covering options and futures contracts for financial products and commodities, as well as for money market instruments, bonds, FX, equities, and commodities on OTC markets. Newedge provides a range of value added services, including prime brokerage, asset financing, an electronic platform for trading and order routing, cross margining, and the centralized reporting of client portfolios. Newedge, which primarily serves institutional clients, provides access to more than 85 exchanges. Newedge's 3,000+ employees form a close-knit, multinational team that can innovatively respond to its clients in fast-moving markets.
About Gresham Investment Management
Gresham Investment Management LLC was founded in 1992 by Dr. Henry Jarecki and has pioneered the management of diversified commodity investment portfolios using commodity futures. Gresham’s Tangible Asset Program® (TAP®) began trading in January 1987. As of September 30, 2012, Gresham managed approximately $16 billion for a variety of clients, including Public and Corporate Pension Funds, Endowments, Insurance Companies, Health Systems, Family Offices, and Sovereign Wealth Funds, based in the Americas, Europe, Asia, and the Middle East. Gresham is registered as an Investment Adviser with the Securities and Exchange Commission, a Commodity Pool Operator and Commodity Trading Advisor with the Commodity Futures Trading Commission, and is a member of the National Futures Association and the Futures Industry Association.
About Nuveen Investments
Since its founding in 1898, Nuveen Investments has been committed to delivering high quality investments services. Nuveen takes a long-term perspective in managing portfolios; and through its multi-boutique model of independent institutional asset managers, offers an array of actively managed and index-enhanced investment products designed to balance expected returns (alpha) and risk, to help achieve the long-term financial goals of our clients.
This document has been produced for information purposes only and is not to be construed as an offer to buy or sell any financial instrument or security.
All information, prices or projections are subject to change without notice. Newedge makes no representation or warranty that the information contained herein is accurate, complete, fair or correct or that any transaction is appropriate for any person and it should not be relied on as such. The opinions, views and forecasts expressed herein reflect the personal views of the author(s) and do not necessarily reflect the views of Newedge. Some financial products and investments are subject to fluctuations in price and or value and investors may get back less than originally invested. Certain high-volatility investments can be subject to sudden and large declines in value that could equal or exceed the amount invested. Futures and options, as well as certain other financial instruments, are speculative products and the risk of loss can be substantial. Consequently only risk capital should be used to trade futures and options and other speculative products. Investors should fully understand the risks and potential losses and seek their own independent investment and trading advice having regard to their objectives, financial situation and needs. This information is not intended to be construed as investment advice. We do not accept any liability or loss or damage arising from any inaccuracy or omission in or the use of or reliance on the information in this document.
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An investment in the Fund involves risk; principal loss is possible. An investor should consider the following risk factors. Commodity-linked derivative instruments have a high degree of price variability and are subject to rapid and substantial price movements, which are difficult to predict, and may subject the Fund to greater volatility than investments in traditional securities. Certain derivatives (including the total return swap that the Fund will enter into) may result in losses that are greater than the original amount invested. Derivatives also involve counterparty risk, which is the risk that a counterparty to the derivative contract cannot meet its obligations. At any time, there is risk relating to small fund size as the Fund may be small in asset size and/or have a small number of shareholders, which could create greater impact on shareholders in terms of inflows and outflows, purchasing or selling securities at inopportune times and/or market exposure, resulting in each shareholder bearing a greater portion of the Fund's expenses. Credit risk refers to the risk that an issuer will be unable to make interest and principal payments when due, or that the value of a debt security will decline because of concerns about the issuer's ability to make such payments. More information on these risks, as well as information on other risks to which the Fund is subject, are included in the Fund's prospectus.
This release does not constitute or contain an offer, solicitation, recommendation or investment advice with respect to the purchase of the Fund described herein or any security. Prospective investors should carefully consider Fund objectives, risks, charges, tax considerations and expenses and other relevant information before investing. For this and more information on the Nuveen Global Investors Fund plc, please request a prospectus and read it carefully before you invest. Prospective investors should also consult their professional advisers as to the suitability of any investment in light of their particular circumstances and applicable citizenship, residence or domicile. Nuveen Global Investors Fund plc has been authorized in Ireland as a UCITS pursuant to the European Communities (Undertakings for Collective Investments in Transferable Securities) Regulation 2011 as amended. Shares of Nuveen Global Investors Fund plc are only available for certain non-U.S. persons in select transactions outside the United States, or, in limited circumstances, otherwise in transactions which are exempt from the registration requirements of the United States Securities Act of 1933, as amended and such other U.S. laws as may be applicable. Nuveen Global Investors Fund plc is only registered for public offer and sale in the Republic of Ireland, the United Kingdom, the Netherlands and Sweden and for institutional sales only in Norway and Singapore (where it is a “restricted recognized scheme”). Fund shares may be otherwise sold on a private placement basis depending on the jurisdiction.