The Alternative Investor – May 2024 Edition

The May 2024 edition of the Alternative Investor is out today with alternative fund news from the past month alongside guest features looking at the rise of tokenisation and what it means in the alts space.

Alternative News

We look back at what was a more difficult month for hedge funds, with macro managers again on top. There were further fund raises, the successful CVC IPO, concerns over US non-competes, legal spats, big brand AUM growth, new big-name hires, a few hedge problems and crypto interest.

With tokenisation gaining prominence and traction, we have asked some experts in this field to elaborate on what’s going on.

  • In ‘Springtime for Tokenization’, Bitwise’s Vincent Molino, discusses how organisations have turned their attention to building tokenised products
  • Daphne Huang looks at how DeFi has shaken up the financial landscape with new smart contract technology and the critical nature of data interpretation.
  • Eulith’s Lucas Gaylord examines some of the noise surrounding tokenisation and the need for a secondary market.
  • PwC’s Robert Mellor and James Stewart discuss the growth of retailisation and the role tokenisation has to play within it.

Letter from America

Turning to North America, Prosek’s Mark Kollar writes about the accelerated growth of private wealth channels, where the competition is “fierce,” and the importance of having a strong brand and offering differentiated products.

Regulatory update

RQC looks at the FCA’s proposal for reforming the UK’s investment research regime, recent developments in the FCA’s sustainability regime and common errors the FCA faces when managers apply for authorisation. In the US, RQC looks at the SEC and off-channel communications, Risk Alert on Market Rule compliance, SEC fining IA’s for violating marketing rules, another for recordkeeping and code of ethics failures, and a jury siding with SEC in shadow insider trading case.

The Alternative Investor