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The total value of the funds business in Guernsey grew by more than GBP28 billion last year, with the net asset value of funds under management and administration up by GBP6.5 billion (2.6 per cent) during the fourth quarter of 2016, according to the Guernsey Financial Services Commission (GFSC).
This built on the GBP21.9 billion growth during the first nine months of the year to take the total value of funds business in Guernsey to GBP255.9 billion at the end of December 2016.
“It is encouraging to see strong annual growth in Guernsey’s funds sector,” says Guernsey Finance chief
- 27/03/2017
Arqaam Capital, an emerging markets investment bank, has launched a global macro multi-asset fund as part of its growth-led strategy and diversification into the alternatives space.
The Arqaam Global Macro Fund (AGMF) is a global macro systematic fund invested in liquid and transparent global markets.
It has its origins in a combined technology and trading experience, acquired by team members over decades at Arqaam Capital, Areski Capital and top-tier international investment banks and leading hedge fund managers. The fund will be managed by Areski Iberrakene as chief investment officer.
Prior to co-founding Areski Capital, Iberrakene was global co-head
- 27/03/2017
Solactive has expanded its smart beta offering with the launch two indices in the infrastructure space, the Solactive Global Infrastructure High Income Index and the Solactive Global Infrastructure Income Index.
These indices offer exposure to an investible basket of infrastructure companies from developed markets screened for high dividend yield and low volatility.
The Solactive Global Infrastructure High Income Index offers more focus on dividend income, by only selecting stocks that are expected to pay a dividend in the next quarter. The indices are licensed to JP Morgan who will develop structured products for their distributor clients.
Infrastructure has
- 27/03/2017
Quintillion Limited, the European-based affiliate of US Bancorp Fund Services, has been awarded Best UCITS Liquid Alternative Fund Administrator at the 2017 Hedgeweek Global Awards in London.
The awards celebrate the achievements and accomplishments of the past year among leading hedge fund managers and service providers.
“We are honoured to be recognised as the leading UCITS liquid alternative fund administrator,” says Linda Gorman (pictured), CEO of Quintillion. “We take pride in putting our strength and integrity into every relationship. Our team works diligently to understand the unique needs of our clients and provide a customised servicing solution.”
The
- 27/03/2017
When it comes to doing business in a new jurisdiction, someone who has just gone through the process of opening a new office can offer the best insights. In that context, Centaur Fund Services, which provides fund administration services to some of the world's largest institutions, is perfectly placed.
Centaur was established in Dublin in 2009 by three founding partners: Eric Bertrand (pictured), Ronan Daly and Karen Malone. All three had formerly worked in Bermuda and as senior managers within Hemisphere Management, Bisys Hedge Fund Services and Citi Hedge Fund Services between 1997 and 2009.
The recently opened Bermuda office, says
- 24/03/2017
- 24/03/2017
Harbour Financial Services Limited is an independent fund administrator that has earned a strong reputation in Bermuda for providing award-winning service to a range of alternative investment and private equity funds.
Brian McDevitt, a seasoned executive within the Bermuda industry, is Chief Operating Officer. Since joining Harbour he has implemented a market-leading accounting and technology platform and his presence has attracted the right talent to drive the business forward.
McDevitt reports: "The fund administration business tends to be quite fluid so far as human capital is concerned. We have a stable employee base and each of our staff members has experience
- 24/03/2017
- 24/03/2017
To investigate the extent to which technology is disrupting the financial services sector, KPMG recently partnered with the Alternative Investment Management Association (AIMA) and the Managed Funds Association (MFA) to determine how managers are responding.
More than 100 hedge funds with approximately USD300 billion in AUM responded to the online survey and the findings of the report were clear: 94 per cent of managers, for example, feel that technology will have an impact on their business over the next five years. Some 90 per cent identified improved controls and compliance as a primary reason for investing in technology, with 78
- 24/03/2017
- 24/03/2017
Last year proved to be hugely successful for the Bermuda Stock Exchange (BSX). From a pure growth perspective, the BSX ended 2016 with a total market capitalisation of USD343.8 billion, up more than 41 per cent on the previous year. The same was true of trade volume. The RG/BSX Index closed out the year at 1,923.79, up 47.52 per cent on the calendar year 2015, with a reported 31.75 per cent increase in trading volume, which saw 8.2 million shares traded.
Commenting on the performance of BSX, its Chief Compliance Officer, James McKirdy, said that 2016 saw positive listing activity
- 24/03/2017
- 24/03/2017
The Horseshoe Group was established in 2005 and is a leading provider of insurance management services to insurers, reinsurers, as well as insurance linked securities (ILS) structures such as sidecars and catastrophe bonds.
In June 2016, Horseshoe acquired IKONIC Fund Services allowing it to expand into fund administration (referred to as Horseshoe Fund Services). This followed what had previously been a highly successful joint venture for four years between Horseshoe and IKONIC – called ILS Fund Services – which focused on providing fund administration to ILS funds, combining IKONIC's expertise on the fund administration side with Horseshoe's expertise on the
- 24/03/2017
- 24/03/2017
For managers who may already be using an onshore Delaware LLC, they now have the opportunity to use a Bermuda LLC as an offshore vehicle. This follows the formal introduction of the Limited Liability Company Act 2016 (LLC Act), which was passed in the Senate in July 2016 and became operative on 1 October, 2016.
"There is already strong interest in this new legal vehicle," confirms Mark Baumgartner (pictured), Partner at Deloitte and leader of its asset management practice.
The LLC is a hybrid entity, which merges characteristics of both a limited partnership and a company limited by shares, providing
- 24/03/2017
- 24/03/2017
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