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Articles and Features

Mutual funds

Loeb King Capital Management launches alternative mutual fund

Mon, 30/09/2013 - 12:13

Loeb King Capital Management has launched a multi-strategy mutual fund that will employ a range of hedge fund and alternative strategies. »

Shares

ALTIN reports ‘successful’ share buyback programme

Mon, 30/09/2013 - 10:05

The share buyback through a put options programme launched on 13 September 2013 by ALTIN AG has been successful, with 4,234,520 options out of the 4,247,319 issued now exercised. »

Kenneth Farrugia, Chairman of FinanceMalta

Malta is enjoying ‘three-pronged growth’

Fri, 27/09/2013 - 10:00

“The combination of promotional initiatives of FinanceMalta together with the support of the industry’s various operators and practitioners has contributed strongly to the growth of Malta’s fund industry as we see it today. If you look at the numbers, we’ve had compelling growth since 2007 in both the number of funds and various service providers,” notes Kenneth Farrugia, Chairman of FinanceMalta. »

James Williams, Hedgeweek

Malta offers hedge funds choice of two vehicles under AIFMD

Fri, 27/09/2013 - 10:00

By James Williams – Malta remains a relatively small European domicile. Combined net assets of Maltese funds at the end of June 2012 totalled EUR10.3billion; up from EUR8.3billion in 2011 but still way off more established jurisdictions like Luxembourg, whose wholesale funds market has ballooned to EUR2.523trillion according to its national regulator, the CSSF. »

Dermot Butler, Custom House

A ten-year marriage and still no itch

Fri, 27/09/2013 - 10:00

By Dermot Butler, Custom House – Custom House has been an active supporter of the financial services industry in Malta for almost ten years, since before Malta joined the EU. Since then, Malta has grown, as we had predicted, although at a much faster rate than I had anticipated all those years ago. »

Bradley Gatt, DF Associates

The PIF and AIF regime under Maltese law

Fri, 27/09/2013 - 10:00

By Bradley Gatt & Dr Jean Farrugia, DF Advocates – The Malta Financial Services Authority (MFSA) launched its revised Investment Services Rulebooks by way of final implementation of the Alternative Investment Fund Manager Directive (AIFMD) and relative commission delegated regulations on the 27th June, 2013, thus making Malta one of the first European Union (EU) Member States to begin processing AIFMD applications. »

Joseph Saliba, MamoTCV Advocate

AIFMD – The way forward for Malta

Fri, 27/09/2013 - 10:00

By Joseph Saliba, MamoTCV Advocates – As an EU Member State, Malta has to confront the continuous challenge of remaining up to speed with all the legislative and regulatory changes being enacted by the EU, the latest of which being the AIFMD. In typically timely fashion, on the 27th June 2013 the MFSA published the complete Investment Services Rulebooks, modifying the previous framework whilst retaining flexibility through the exercise of available derogations in the Directive. »

James Williams, Hedgeweek

Sun continues to shine on Malta’s funds industry

Fri, 27/09/2013 - 10:00

By James Williams – There’s no question that Malta has come a long way as a fund jurisdiction since it entered the EU in May 2004. »

Michael Galea, Calamatta Cuschieri Fund Services

A fund services company with roots in investment management

Fri, 27/09/2013 - 10:00

Over the last 18 months, Calamatta Cuschieri Fund Services (CCFS) has seen the number of funds it administers grow steadily as the Mediterranean island continues to attract a fair deal of new business, enticing both start-up & seasoned fund managers. Michael Galea, CCFS’s Head explains that the influx of interest extends across a wide range of strategies from plain vanilla long-only strategies through to fund-of-funds and high frequency trading strategies involving derivatives. »

Dr Kurt Hyzler, CSB Advocates

MFSA preserves its PIF regime

Fri, 27/09/2013 - 10:00

By Dr Kurt Hyzler, CSB Advocates – Malta recently reinforced its position as a progressive hedge fund jurisdiction within the EU when, on 27th June 2013, the Malta Financial Services Authority (MFSA) announced that it was the first member state to have fully transposed the Alternative Investment Fund Management Directive (“AIFMD / Directive”) into Maltese law. »

San Francisco

Brownstone opens west coast office

Thu, 26/09/2013 - 16:22

Fixed income investment firm Brownstone Investment Group has opened an office in San Francisco.  »

Dan Simon, president, Cognito

HedgeCo selects Cognito to provide marketing and communication services

Thu, 26/09/2013 - 12:54

HedgeCo has selected Cognito to provide a range of marketing and communications services for hedge funds. »

Closed sign

Palmer Square Capital Management closes second CLO fund in 2013

Wed, 25/09/2013 - 10:04

Palmer Square Capital Management, a provider of structured credit, corporate credit and hedge fund strategies, has closed on its second collateralised loan obligation (CLO) in the last six months. »

Globe

Houlihan Lokey launches illiquid financial asset practice

Tue, 24/09/2013 - 16:07

Houlihan Lokey, the international investment bank, has launched a practice focused on intermediating illiquid financial assets on a global basis.  »

Scilla Huang Sun, Julius Baer

Luxury industry – investing and innovating to meet future demand

Mon, 23/09/2013 - 12:19

Luxury will hardly ever be a sector where you can launch a brand and be instantly successful, say Scilla Huang Sun (pictured) and Andrea Gerst, managers of the Julius Baer Luxury Brands Fund, Swiss & Global Asset Management… »

Davia Temin, president and chief executive, Temin and Company

Should hedge funds advertise?

Mon, 23/09/2013 - 10:06

As the ban on hedge fund, private equity fund and venture capital fund "advertising" is set to lift on 23 September, most funds are wondering if they should take advantage of the opportunity or sit it out.  »

Commodities

yAs launches three-pillared commodity fund

Mon, 23/09/2013 - 06:04

yAs has launched the Columna Commodities Fund, which employs a three pillared approach to investing in commodities. »

Meeting

Prime brokers respond to shifting composition of the hedge fund industry

Fri, 20/09/2013 - 16:01

Faced with the challenges brought on by the shifts in the hedge fund industry and the changing regulatory landscape, prime brokers are attempting to differentiate themselves through unique product offerings, as well as their ability to leverage proprietary technologies and organisational efficiencies. »

Steven Maijoor, ESMA chair

Market conditions improve as systemic risks persist, says ESMA’s TRV report

Fri, 20/09/2013 - 14:29

The EU securities markets and investment conditions in the EU have improved for a second quarter in a row since the fourth quarter of 2012, although systemic risk persisted at medium to high levels. »

Jack Seibald, Concept Capital

Accelerated growth in cap intro business

Thu, 19/09/2013 - 15:26

In much the same way that hedge fund managers need sufficient ‘skin in the game’ to attract investors, capital introduction is a serious financial and reputational commitment for prime brokerage firms. »

Liquid

Automate your private equity waterfall

Thu, 19/09/2013 - 15:23

By Ras Sipko, Chief Operating Officer of Koger, Inc – Common feedback from private equity funds when questioned about running profit/performance allocations is that they have a process that works, mainly driven by the use of spreadsheets. While it is certainly easy to build out the required accounting methodologies on an Excel spreadsheet is it the best way to handle this work? »

Lonnie Macdonald, President, JD Clark & Company

Big data and mass customisation precipitate cutting edge solutions

Thu, 19/09/2013 - 15:12

Big data’: That’s the catchphrase in today’s climate of regulatory overhaul, and it’s something that hedge fund administrators are deeply focused on addressing. »

Dan Matthies, Bloomberg

Dealing with heightened regulation and tightened margins

Thu, 19/09/2013 - 15:09

By Dan Matthies, Bloomberg – In the space of just five years, the financial services industry has seen remarkable change: the rise of automated trading appliances; a global economic meltdown and subsequent recovery; and now, sweeping financial regulations. No matter the size of your fund, the investment environment has only been getting tougher amid heightened regulation and tightened margins. »

James Williams, Hedgeweek

US hedge funds take OTC clearing in their stride

Thu, 19/09/2013 - 15:05

By James Williams – “Even though as a quantitative trading firm with a lot of technology infrastructure in place we’ve been able to handle a lot of the regulatory requirements internally, we can’t do everything. We’ve had to lean a little more on our service providers, in particular consulting our legal advisers, over the last 12 months,” explains Ken Shoji, COO of New York-based GSB Podium Advisors, an equity statistical arbitrage fund. »

Michael Rucci, UBS Global Asset Management

AIFMD: challenges facing US and other non-EEA managers

Thu, 19/09/2013 - 15:02

By Michael Rucci (pictured), head of fund ervices Americas, UBS Global Asset Management – How does AIFMD impact how I can market in Europe? »

Scott Price, Regional Director, Americas, Custom House Global Fund Services

A new reporting engine with OMS connectivity

Thu, 19/09/2013 - 14:43

"Emerging managers under the USD200million AuM mark struggle to get the necessary reporting needs from their service providers because of the high cost of ownership,” explains Scott Price, Regional Director, Americas, Custom House Global Fund Services, one of the industry’s leading hedge fund administrators. »

Geoff Ruddick, IMS Fund Services

Independent directors: considerations and queries

Thu, 19/09/2013 - 14:31

By Geoff Ruddick, IMS Fund Services: Independence – Independence is the ‘holy grail’ of effective corporate governance. If a director is not independent, conflicts of interest will inevitably arise and interfere with the director’s ability to act in the best interests of the fund. »

Beth Mueller, US Bancorp

Automated solution to help relieve FATCA burden

Thu, 19/09/2013 - 14:27

Next July marks the introduction of the Foreign Account Tax Compliance Act (FATCA). To meet the demands of this far-reaching legislation, US Bancorp Fund Services, LLC is working proactively to implement innovative technology resources and modifications to internal procedures to streamline compliance and reporting processes and minimise the burden placed on managers. »

James Williams, Hedgeweek

US hedge funds start to branch out into 40 Act funds

Thu, 19/09/2013 - 14:15

By James Williams – One thing is certain: hedge fund regulation in the US is tightening and is here to stay. What remains uncertain is the long-term impact it will have on the industry. Recent high-profile insider trading cases involving Galleon Group LLC and, this summer, SAC Capital Advisors, have put a spring in the step of its national regulator, the Securities & Exchange Commission. »

Adrian Lowcock, Hargreaves Lansdown

Federal Reserve back-tracks on tapering, investors need to ignore the noise

Thu, 19/09/2013 - 12:21

Following the comments from Ben Bernanke in May, investors have clearly priced in some form of tapering with government bond yields having risen and prices having fallen. The decision by the Fed not to reduce the amount of QE each month therefore came as a big surprise, says Adrian Lowcock, Hargreaves Lansdown… »

features
Article
Ken MacCuish, Intralinks

A couple of years ago, the title Chief Information Security Officer, or CISO for short, was a foreign concept within the hedge fund community. The winds have changed, however, as hedge funds become increasingly targeted by cyber hackers, causing many to hire a CISO to uphold the network integrity of the firm.  ... »

Article
Sovereign Wealth Funds

Sovereign wealth funds, though small in number and secretive in nature, wield considerable influence as investors as a result of their sizeable assets under management. This extract is taken from Preqin’s latest report which features exclusive content from the 2015 Preqin Sovereign Wealth Fund Review.  ... »

Special report
Hedgeweek Special Report: Hedge Fund Administration

Hedge Fund Administration 2015

Tue, 16/06/2015 - 09:57

Mergers and acquisitions in recent years have changed the face of hedge fund administration. Big custodial banks are likely to dominate the HFA space in years to come, forming one part of a barbell with a number of well-run, well-capitalised independent HFAs on the other end. This report examines the implications for both hedge funds and their administrators... »

Article
North America

Private debt in North America

Fri, 05/06/2015 - 12:06

The North American private debt industry has seen substantial growth in assets over the last decade. This extract from the Preqin Special Report: Private Debt in North America looks at the current state of private debt fundraising and funds currently in market. ... »

Special report
State Street Global Advisors – Volatility and the benefits of downside protection strategies

State Street Global Advisors has unveiled the results of an in-depth survey of 420 senior executives within global private and public pension plans, endowments, foundations and sovereign wealth funds, summarised in this keynote Hedgeweek Special Report... »

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