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The California Alternative Investments Association (CalALTs), whose members include alternative asset managers, investors and service providers in California, has issued a white paper on best practices for hedge fund and private equity operations.
Operational due diligence has played a more pivotal role in the hedge funds and private equity firms as the alternative investment industry has developed over the past 10 years.
The white paper, which was developed by the CalALTS Best Practices Committee, seeks to outline crucial operational best practices for the industry.
Areas of focus include: general operational best practices including internal staffing; portfolio valuation best
- 23/03/2017
The Depository Trust & Clearing Corporation (DTCC), ICI and SIFMA, on behalf of the T+2 Industry Steering Committee (T+2 ISC), has commended the US Securities and Exchange Commission (SEC) for finalising rule changes that facilitate the industry’s transformational effort to achieve a two-day settlement cycle (T+2).
The revised SEC rule establishes a standard settlement timeframe of two days for U.S. equity, corporate and municipal bond, and unit investment trust (UIT) trades, providing regulatory certainty to promote a coordinated and effective industry transition to T+2 on 5 September 2017.
Shortening the time it takes to settle trades from the current
- 23/03/2017
Ullink, a provider of electronic trading and connectivity solutions, has launched a MiFID II compliant trade reporting solution to help its clients meet regulatory requirements for greater accuracy in reporting and timeliness of data collection.
Trade reporting reform is a core component of MiFID II. Under the new rules, details of all trades in eligible financial instruments (both equity and non-equity) need to be published to market participants in as close to real time as possible. In practice, for some instruments this means no later than one minute after the trade.
This move is posing significant challenges for market
- 23/03/2017
Global investment manager Nuveen is expanding its alternative investments business development capabilities with the hire of James Wing and Michael Welch.
Joining in newly created roles, the pair will partner with the broader Nuveen distribution team to place new private funds onto the investment platforms of wealth managers serving retail and high-net-worth investors.
Based in Chicago and San Francisco, respectively, Wing and Welch will bolster the firm’s growing alternative investment distribution capabilities and report to Bill Stout (pictured), head of business development for Nuveen’s alternative investments platform.
Wing and Welch will both serve as managing directors working with
- 22/03/2017
BRI Partners has launched the first in a new range of investable hedge fund indices designed to deliver the beta of hedge fund strategies – the BRI Long/Short Equity Index (BRILSE), calculated by Wilshire Associates.
BRI Partners has developed eight indices in total which will be rolled out over the coming months.
Unlike existing hedge fund indexes, the BRI Indexes do not measure the performance of hedge fund managers and, therefore, do not rely on managers to provide a snapshot of month-end results. Decades of economic and academic research are the foundation for each BRI Index, which are built
- 22/03/2017
Alternative investment firm Saba Capital Management has launched CEFS, an actively managed ETF that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value (NAV) and hedging the ETF's risk to rising interest rates.
This is Saba's first ETF.
Closed-end funds are listed investment vehicles that trade at a premium or discount to NAV as a result of market technicals and sentiment.
Saba specialises in fixed income and equity closed-end funds trading at a discount to NAV, given they typically offer higher yield and return potential than the underlying
- 22/03/2017
- 22/03/2017
By Ronan Guilfoyle (pictured) and Casey McDonald, independent directors, Calderwood, a Cayman Islands Fund Governance Firm – It is not uncommon these days for an investment fund to find itself in the situation where it may be able to recover certain assets through the process of litigation. Perhaps an investment has soured but left the fund with claims against certain associated parties, or alternatively, the fund could find itself in the scenario where it has claims against its service providers, possibly due to fraud or some other unfortunate circumstances, which have made the fund no longer viable.
The duties of a director
- 22/03/2017
Social engineering schemes continue to grow in their sophistication, and phishing campaigns, in particular, are causing concern as they make their way to employee inboxes. These fraudulent email campaigns appear legitimate and take advantage of employees who are often too busy or simply unprepared to identify a scam (disclaimer: phishing is not specific to email; scams occur via phone & other communication methods also).
In either case, if the employee clicks a link, downloads an attachment or provides credentials or financial information to a hacker behind the scenes, it presents a gateway to potentially compromising and very serious scenarios.
And
- 22/03/2017
Baymarkets Technology, a Nordic provider of FinTech and RegTech solutions to the global financial services industry, has launched a new financial market solution delivery platform, Clarity.
The Clarity platform is designed to provide agile development of client specific solutions aimed at institutions active in the financial markets, such as banks, brokers, exchanges & trading venues and clearing houses.
Clarity aims to solve several of the challenges that financial institutions are facing today including increased demand for automated workflows, transparency and regulatory compliance.
Designed for use during pre-trade, at-trade, post-trade or across all three, the Clarity platform delivers solutions
- 22/03/2017
Bats Europe has launched the Bats Brexit 50/50 Indices, two benchmark indices designed to reflect the impact of the UK’s decision to leave the European Union on UK companies.
The two indices – the Bats Brexit High 50 and Bats Brexit Low 50 – are designed to act as barometers for assessing how Brexit is impacting UK companies by analysing the difference in performance between those companies that generate a large portion of their revenues from the UK compared to those that have less revenue exposure to the UK.
Bats has partnered with FactSet, a global provider of integrated
- 22/03/2017
- 22/03/2017
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