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Trident Trust, an independent provider of corporate, trust and fund services to the financial services sector worldwide, has implemented Linedata’s transfer agency and reporting solution Mshare.
Trident Trust is using Linedata Mshare and Linedata Reporting initially in Guernsey, Malta and Luxembourg as part of an ongoing programme to further enhance its fund administration offering.
With over 400 funds under its administration worldwide, these solutions are enhancing Trident Trust’s ability to operate across multiple jurisdictions and a range of diverse asset classes. The platform provides hedge fund, private equity and partnership accounting capabilities, together with an intuitive profit and loss
- 11/05/2017
- 11/05/2017
Axioma, a provider of enterprise market risk and portfolio management solutions, has appointed board industry veteran Mark Traudt as managing director and head of product engineering.
His role will be to further Axioma’s leadership role in financial technology innovation.
Sebastian Ceria, chief executive officer of Axioma, says: “Industry-leading technology is at the heart of all that we do. Bringing on someone of Mark’s calibre speaks to our mission: delivering products and services that are transformational to our clients.”
Traudt’s (pictured) main objective will be advancing the technology of Axioma’s full suite of products in addition to driving the
- 11/05/2017
Hedge fund managers are continually reviewing their relationships with fund administrators, fund custodians, prime brokers, fund auditors, fund marketers and law firms to ensure that they are getting the services they need.
A quarter of all hedge fund managers surveyed by Preqin at the end of 2016 changed at least one service provider over the previous year.
Of these, 75 per cent changed one service provider, 18 per cent changed two, while 7 per cent changed three or more service providers over the year.
Managers had two leading concerns when changing service provider: cost and quality of service.
- 11/05/2017
Indos Financial, the UK independent depositary, has secured approval from the Financial Conduct Authority (FCA) to extend its Alternative Investment Fund Managers Directive (AIFMD) depositary permissions to become a full depositary.
The move represents the first such authorisation of a non-bank entity in the UK since AIFMD was introduced in 2014.
The permissions build upon the firm's depositary-lite business servicing non-EU funds as well as its UK private equity, real estate and debt fund business. In less than three years this business has grown to comprise 70 funds across 56 managers and USD14 billion of assets.
The extended permissions will
- 10/05/2017
The Lyxor Hedge Fund Index was down 1.07 per cent in April, with seven out of 10 Lyxor indices in positive territory, according to the firm's latest Alternative Investment Industry Barometer.
Bottom-up strategies outperformed, supported by the improvement of the alpha backdrop.
On the negative side, macro strategies suffered ahead the French elections.
“Lower near-term political risk and persisting signs of recovery lead us to be overweight on European stocks and banks. Stock pickers should also benefit from the improvement of the alpha backdrop as investors re-focus on the European recovery and companies’ fundamentals. Overall, we continue to favour
- 10/05/2017
By Joseph Bartolotta (pictured) – How many vehicles are on the road today with a “Schedule Service” message displayed on the instrument panel? And how many drivers will ignore it for yet another day? Why do we ignore those messages?
Lots of reasons. For one, getting that oil change or not really won’t affect how the car runs or performs right now. It will of course impact the vehicle’s future performance and longevity, but that’s not an immediate priority to many drivers. Then there’s the argument of not having enough time. Even though we know that 30 minutes now can avoid
- 10/05/2017
- 10/05/2017
Research unbundling is creating a whole new marketplace model for research procurement and consumption.
One of the biggest changes that asset managers face under MiFID II will be the need to unbundle research payments from execution commissions and provide evidence on how they are paying for that research, to the optimal benefit of their investors.
This is likely to shake up sell-side research departments and those independent research providers with limited distribution capabilities, with some fearing that it could potentially reduce the quantity of research in the marketplace.
But with every challenge there is a new opportunity. Research platforms are
- 10/05/2017
- 10/05/2017
Investment managers running UCITS funds or Alternative Investment Funds (AIFs) will not fall directly under MiFID II or have any legal obligation to comply with regulation or require a MiFID license. However, from a product governance perspective, they will be impacted indirectly. This is because their fund distribution partners, such as MiFID licensed bank platforms, will be required to define the investor target market for each product.
"Consequently, if Asset Managers want to stay in business it becomes essential for them to define the target market for all their funds at the share class level and communicate this to their
- 10/05/2017
Anyone who has bought or sold a home knows that, prior to closing, an inspector usually verifies the property's condition. The buyer doesn't simply accept the seller's representation that the home is sturdy and unlikely to collapse. An inspection lays bare the houses faults, giving the buyer comfort in the home's condition and absolving the seller of ongoing responsibility.
While such a careful examination might not be typical of most markets, the European financial markets are not most markets, and regulators are imposing a type of inspection requirement under MiFID II Article 17.
Article 17 and Regulatory Technical Standard 6
- 10/05/2017
On forecasting the likely actions of Russia during the Second World War, UK Prime Minister, Sir Winston Churchill, spoke of it as a ‘riddle wrapped in a mystery inside an enigma'. Alternative asset managers might be forgiven for thinking the same about the devilish complexity of MiFID II.
But rather than get bogged down and concerned about the vicissitudes of regulation, managers should focus on the aspects they can control and take practical steps towards becoming compliant.
The first point to make is that MiFID II should not be thought about as merely a compliance exercise.
"The buy-side should think more about the
- 10/05/2017
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