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Proper fund governance has long been championed by leading offshore law firm Conyers Dill & Pearman, which for the last decade has encouraged its hedge fund clients to hold at least annual directors meetings. Initially this was met with some resistance according to Robert Briant (pictured), Partner and head of Conyers’ BVI office, who confirms that such resistance has softened over the last few years.
“Even though there is no requirement in the BVI for the directors to meet annually, they do meet and are happy to meet when we suggest it. So that is a positive change. Some funds
- 08/02/2017
- 08/02/2017
One of the reasons as to why the BVI introduced the Incubator and Approved Fund products in May 2015 was, partly, in response to the fact that fund launch numbers in the global hedge fund industry had started to steadily decline. Rising regulatory and compliance costs were hurting start-up managers and dissuading people from coming to market.
In that sense, the BVI was quite prescient and demonstrates the forward looking approach that its regulator, the BVI Financial Services Commission (the "Commission"), takes to ensure that the jurisdiction remains as accessible as possible to start-ups and emerging managers, as well as
- 08/02/2017
Circle Partners is an independent fund administrator with offices in the BVI, Cayman Islands, and across the EU, the Americas and Hong Kong.
"We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund," reflects Peter Jakubicka (pictured), Business Development Manager at Circle Partners. "These vehicles have been the main driver of business for us in the BVI and we've seen continued interest in the first few weeks of January this year; this is partly due to the fact that Cayman has not introduced
- 08/02/2017
"We see the funds industry as continuing to contribute to the overall offering of financial services. There remains good interest in the BVI product and we envisage that will continue," asserts Glenford Malone, Director, Investment Business Division, BVI Financial Services Commission, when asked to comment on the growth of the BVI's funds industry.
Like every fund jurisdiction, the estimated 40 per cent drop in new fund launches in the hedge fund industry last year negatively impacted the BVI. And as the costs of running a hedge fund business increase, some are choosing to call it a day and revert to
- 08/02/2017
ACA Compliance Group and GLG (Gerson Lehrman Group) have entered into an exclusive partnership to provide mutual clients with the option to retain ACA’s third-party monitoring service for expert consultations arranged by GLG.
Through this service, ACA Compliance Group, a provider of regulatory compliance and technology products, assists compliance and legal teams by chaperoning designated research consultations, documenting possible inconsistencies with policies, and providing a report of findings or issues to escalate following the consultation.
The service is part of ACA’s off-site compliance support solutions and is provided by ACA’s Analysis and Review Center, a dedicated knowledge centre of
- 08/02/2017
PhaseCapital has appointed Michael Ning as chief investment officer (CIO).
Ning will be responsible for PhaseCapital’s investment strategies and research process and will work to further refine the Boston-based asset manager’s investment platform.
Ning, a 20 year industry veteran, most recently served as senior vice president and portfolio manager, multi-asset absolute return strategy at First Eagle Investment Management. Prior to this, he held positions such as senior vice president and portfolio manager, absolute return strategy and head of quantitative credit research with AllianceBernstein after beginning his career at Citigroup.
“The availability of so many data points today requires
- 08/02/2017
- 08/02/2017
In a disappointing start to the year after a challenging 2016, all Societe Generale CTA indices posted negative returns in January.
The flagship SG CTA Index, SG Trend Index, and SG CTA Mutual Fund Index were all in the low negative territory, down 1.13 per cent, 1.16 per cent, and 0.87 per cent respectively.
Conditions were even more challenging for short term traders, with the SG Short Term Trader Index posting -4.07 per cent.
The SG Trend Indicator reflected the difficult conditions for trend followers, ending down 6.46 per cent. Currencies and commodities both contributed negatively, at -4.15
- 08/02/2017
- 08/02/2017
Hedge funds posted strong gains in early 2017 as Donald Trump was inaugurated as US President, led by the performance of equity hedge strategies, the largest area of hedge fund industry investor capital, according to data from HFR.
The HFRI Fund Weighted Composite Index (FWC) gained 1.2 per cent for the month, the strongest beginning to a calendar year since the +2.5 per cent return to begin 2013.
It extends the record Index Value to 13,107 and tops the return of the Dow Jones Industrial Average (DJIA), as well as most European equity markets, over the same period.
- 08/02/2017
Three key characteristics are essential for firms seeking success in the hedge fund industry – investing in people, sound business infrastructure and a focus on relationships with their investors, according to a survey of senior individuals in the hedge fund industry.
The poll, carried out by EY and the Alternative Investment Management Association (AIMA), aimed to identify common characteristics of successful hedge fund managers over time, strategy and geography, and reveals the thoughts of 40 highly experienced, senior individuals at hedge fund management firms in the US, the UK and Asia-Pacific.
The collective assets under management of the firms
- 08/02/2017
Drawing on data compiled for the 2017 Preqin Global Hedge Fund Report, Preqin has created league tables of hedge funds that have most consistently delivered strong, stable performance.
Preqin says the intention is not to endorse these funds, but rather to illustrate those that have performed the most consistently over the period January 2012 to December 2016.
Seven strategies are represented: equity strategies, macro strategies, event driven strategies, credit strategies, relative value strategies, multi-strategies and CTAs.
These funds were determined as most consistent using a percentile rank methodology across four metrics (annualised return, annualised volatility, Sharpe ratio and
- 08/02/2017
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