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Fund flash: BlackRock launches commodities ETF/ Lombard Odier CIO steps down

Fund flash: BlackRock launches commodities ETF/ Lombard Odier CIO steps down

Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications in the past week.

BlackRock bolsters ETF range

BlackRock expanded its iShares range with the launch of a new commodities ETF.

The iShares Diversified Commodity Swap Ucits ETF will aim to provide exposure to a variety of commodity markets for investors and will seek to replicate the performance of the Bloomberg Commodity USD Total Return Index.

Lombard Odier global CIO to step down

Lombard Odier Investment Management’s global chief investment officer, Jan Straatman, announced plans to retire at the end of the year.

The global CIO has been with the group since 2012 and is responsible for developing Lombard Odier IM’s multi-boutique structure, with individual CIOs leading each division.

As he prepares to step down, Straatman’s responsibilities will be gradually handed over to the CIOs leading Lombard Odier IM’s investment boutiques over the course of the year. In his retirement, he will continue as an adviser to Lombard Odier IM.

Small-cap star joins US quant house

Boston-based Acadian Asset Management hired small-cap specialist Mark Roemer from AllianzGI.

In his new role, Roemer will help develop Acadian’s investment process using his knowledge of global equity markets and quantitative capabilities.

He will be a core member of the portfolio management team and help implement new products across Acadian’s range which includes equity, long/short and managed volatility strategies.

 

US healthcare boutique teams up with Swiss firm  

US healthcare boutique Nexthera Capital launched a Ucits version of its long/short healthcare equity fund.

The New-York based firm has teamed up with Swiss private bank UBP (Union Bancaire Privée), to launch the U Access (IRL) Nexthera Ucits fund, which has been a non-Ucits strategy for the past two years.

The fund currently has €34.37 million ($40 million) in assets under management and will be managed under UBP's U Access Umbrella by the firm's alternative investments business head, Yves Guntern.

BlackRock European credit chief exits

BlackRock's head of European fundamental credit, Michael Phelps, is leaving after eight years with the firm. 

Phelps will step down from his role and exit the firm, effective December 31 2017.

He oversees $30 billion in European credits assets and is a named manager on funds totaling $7 billion, according to a BlackRock spokesperson.

Stephen Gough has been added to the BGF European High Yield fund, the BGF Global High Yield fund and the BSF European Credit Strategies. Jose Aguilar has also been appointed as a manager on the European Credit fund.

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