SimCorp gets first Asian client for fund management solution

India’s largest mutual fund manager was oversubscribed but made a modest debut, as Reliance Jio and NSE prepare to go public; however, higher oil prices could weigh on investor demand.

The Series D round values the Korean semiconductor startup at $2.9bn as it targets global commercialisation of its AI inference accelerator.

Fund tokenisation has already reached $2bn in assets under management this year, with on-chain money set to bring 24/7 secondary transfers and fractionalisation.

The Hong Kong hedge fund has taken the difficult decision after 16 years of trading, as the SFC prosecutes the firm, chief investment officer Simon Sandler, and a former trader, for insider trading.

From May, investors will have access to equity and fixed income mutual funds, managed by global players Amundi, BlackRock, Dimensional Fund Advisors and PIMCO.

The Singapore-VCC registered structure is aiming to attract high-net-worth individuals, family offices and institutional investors with "up to 30%" allocated to Grasshopper Asia's trading strategies.