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A survey of the alternatives sector conducted by Eurekahedge and AIMA Japan finds that fund managers in Japan now typically allocate up to 10 per cent of their total expenses on regulatory compliance.
The survey of close to 90 firms with around USD375 billion in assets found around half of fund managers allocate between 5 per cent and 9.9 per cent of their total expenditure on meeting regulatory requirements, with a further 16 per cent spending more than 10 per cent of total costs. The findings are consistent with surveys that AIMA has conducted globally.
A little more than half
- 08/06/2017
By Nick Bayley (pictured), Duff & Phelps – A few weeks ago I visited South Africa where I met numerous buy-side firms, some with UK or European subsidiaries and some who operated solely out of that country. Apart from the dreaded Brexit, the other question that in came up in all the conversations was to ask how much the tentacles of MiFID II might extend beyond Europe. In short, what is the reality of its extra-territoriality?
Other related questions the firms raised were: What is likely to happen to current market practice outside the EU after MiFID II? And will
- 08/06/2017
- 08/06/2017
The Exchange Council of the European Energy Exchange (EEX) has held a meeting in Leipzig to determine how the Phelix Future for the market area Germany/Austria should be determined after the common German-Austrian price zone split.
The meeting was chaired by Dr Michael Redanz, Managing Director of EWE Trading.
The Exchange has approved that the Phelix-DE/ATIndex will be calculated as a weighted average of the hourly day-ahead prices for Germany and Austria determined by EPEX SPOT. The weighting ratio of Germany to Austria shall be set at 9:1. “
This proportion takes into account the ratio of the
- 08/06/2017
The Chartered Alternative Investment Analyst (CAIA) Association, a leader in alternative investment education, has appointed Valerie J Sill (pictured), CFA, CAIA, to its Board of Directors.
Sill is the President and CEO of DuPont Capital Management (DCM), where she also serves as Chief Investment Officer. Prior to joining DCM in 2004, Sill was Executive Vice President with The Boston Company and has held senior positions with Dreyfus, Mellon, State Street and Investment Advisors. Sill also served a three-year term on the Federal Reserve Bank of Philadelphia’s Economic Advisory Council.
“Valerie brings a wealth of knowledge and experience and is
- 08/06/2017
- 08/06/2017
Hughes Hubbard & Reed has appointed Alexandra Poe (pictured), as a partner in the firm’s Corporate Department. She joins from Reed Smith, where she was the co-chair of the Private Fund Formation and Counselling practice in that firm’s Global Corporate Group.
“Alexandra’s wide breadth of experience in investment management is in high demand, and she will be instrumental in providing the exceptional skills and services we offer to our clients in this area,” says Ted Mayer, chair of the firm. “We are pleased to welcome her and look forward to working together.”
Poe has over 25 years of experience
- 08/06/2017
- 08/06/2017
Abel Noser Solutions, a specialist in Transaction Cost Analysis (TCA) in equities, preferreds, FX and futures, is now offering coverage of a new asset class – fixed income.
From customised reporting to higher level executive summary views, fixed income TCA aims to provide clients with clarity into the cost of their trades, best execution analysis and best practices. In addition, Abel Noser Solutions’ spread-based methodology and peer benchmarking offers institutions a relative view versus other bond participants trading similar securities. All of this functionality and analysis is offered on one platform and is consistent with clients requesting centralised software services
- 08/06/2017
IHS Markit has launched Collateral Manager, an end-to-end solution for calculating margin, settling margin calls and managing margin disputes.
New regulation requires the mandatory exchange of variation and initial margin for cleared and uncleared OTC derivatives transactions. In response, financial institutions seeking operational excellence require new tools with which to automate margin activity and manage legal and liquidity risk.
Collateral Manager’s intuitive, configurable dashboards and real-time reporting help users automate processing of margin calls, manage exceptions and provide transparency for audit and risk purposes. The complete solution provided by Collateral Manager is made possible by sourcing key data, including
- 08/06/2017
Hedge funds posted the seventh consecutive month of gains in May, with contributions from Currency and Technology exposures, according to data released today by HFR.
The HFRI Fund Weighted Composite Index (FWC) gained 0.5 per cent for the month, bringing YTD performance to +3.5 per cent, and extending the record Index Value to 13,406. The HFRI FWC has now advanced in 14 of the trailing 15 months.
HFRI gains were led by Event-Driven (ED) strategies, as the HFRI Event-Driven (Total) Index advanced 0.6 percent, the 11th consecutive monthly gain, bringing YTD performance to +3.9 per cent. ED sub-strategy performance
- 08/06/2017
Ashburton Investments (Ashburton), the investment management arm of the FirstRand Group, has further strengthened its multi asset team with three hires in its London office.
Mark Melehes joined the business as a cross-asset strategist in April. Jianzhong “Jack” Ren joined the team as a fixed income analyst and Samed Hysa as a macro analyst. Melehes, Ren and Hysa will help to further develop Ashburton’s multi asset offering which has a track record of more than 30 years.
Mark Melehes, cross-asset strategist, comes with a strong background in generating and structuring of trades in both cash and volatility markets. Prior
- 08/06/2017
Eaton Vance Management has launched the Eaton Vance International (Ireland) Parametric Global Defensive Equity Fund, a sub-fund of Eaton Vance International (Ireland) Funds.
The Fund currently has over USD200 million (USD) in commitments, of which over USD70 million (USD) was invested at the Fund’s inception in May 2017. The Fund is a registered UCITS fund, subject to regulation by the Central Bank of Ireland.
The Fund is managed by Eaton Vance Advisers (Ireland) Limited and the investment adviser is Parametric Portfolio Associates LLC (“Parametric”), a majority owned subsidiary of Eaton Vance Corp. The Fund’s portfolio managers are Jack Hansen
- 08/06/2017
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