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By Ras Sipko, KOGER – For the past four years, alternative fund managers with US investors have been coming to terms with the far-reaching effects of the Foreign Account Tax Compliance Act or FATCA. Some 60-plus countries have signed up to cooperate with the IRS in order to enforce FATCA and this year the compliance burden is set to grow yet again. On 31st May 2017, fund managers will have to submit their first filing under the OECD Common Reporting Standards initiative, which can best be thought of as global FATCA or 'GATCA'. Creating an internal programme to comply with FATCA/GATCA
There are a number of encouraging developments in Ireland that would, on the surface, appear to place it on a strong footing to further enhance its reputation as Europe's leading onshore alternative funds jurisdiction.  If one looks at fund growth, through October 2016 (the most recent figures at the time of writing) the aggregate AUM of Irish QIAIFs increased by 7 per cent with net sales reaching EUR10 billion. At the end of 2015, total assets in Irish ICAV fund structures stood at EUR6.2 billion. By the end of October 2016, that figure had risen to EUR26.5 billion.  "The ICAV
ML Capital, one of Ireland's leading management company groups, has grown to exceed EUR3 billion of AUM over the last 12 months. The growth trajectory over recent years has enabled ML Capital to evolve from being a leading UCITS platform operator to being more of a fund solutions provider to managers and investors alike.  "They come to us, tell us what they need and we give them the best fund structure and solution; whether this is going on to one of our platforms and launching a sub-fund and using us as the third party ManCo to perform all the operational
The Irish Government is keen to embrace the FinTech revolution as is evidenced by its IFS2020 strategy for International Financial Services, which aims to create 10,000 new jobs in the IFS sector by 2020.  One particular area of innovation underway in Ireland is the emergence of regulatory technology or ‘RegTech’ with a plethora of start-ups now operating out of Dublin. Part of the reason for this is that sell-side institutions and fund management groups, burdened by the weight of regulation, regard outsourcing as an attractive option because regulatory operations are effectively a non-competitive differentiator. This thriving technology ecosystem is benefiting
Alternative fund managers have had a myriad of regulatory change to contend with over recent years. In the early stages, many chose to take on the reporting burden themselves. This was very much a learning curve.  However, as the complexity of regulatory compliance has increased, fund managers have looked to consider how much they want to handle internally versus how much they want to outsource.  "We now see a significant amount of fund managers choosing to outsource their regulatory requirements," says Linda Gorman (pictured), CEO of Quintillion Limited, a European-based affiliate of US Bancorp Fund Services. "Essentially everyone has come
Dublin's International Financial Services Centre (IFSC) employs over 38,000 people and is home to some of the world's leading financial institutions; industry stalwarts such as Merrill Lynch, ABN Amro, JP Morgan.  But in recent years, this area of Dublin has ushered in a slew of technology companies, many of them exciting start-ups specialising in financial technology. Alongside the likes of Google, Twitter, LinkedIn and Airbnb, all of whom have their European headquarters located here, a number of interesting start-ups have sprouted up, causing some to dub this area `Silicon Docks'.  Firms such as Propertygate and Certus (portfolio management), CR2, Acquirer
Cayman Islands-domiciled Montreux Natural Resources fund has come in as the second best-performing hedge fund in Preqin’s Global Hedge Fund report with a return of 142 per cent over the last 12 months, driven by the surging gold price and the performance of assets in which the fund invested. The USD32 million fund, which generates returns through a range of commodity-related transactions, has during the last 16 months purchased mining interests in Tanzania, east Africa, and a refinery in Guinea, west Africa, at the bottom of the commodity super cycle as other participants were looking to exit. The firm writes
The January 2017 average daily transaction value on the Euronext cash order book stood at EUR6,458 million, down 25.6 per cent compared to January 2016 and down 10.8 per cent from the previous month. The average daily transaction value on ETFs was EUR447 million, down by 4.8 per cent compared to January 2016, which was particularly active, and down 25.7 per cent from the previous month.   Euronext’s ETF offering continued its expansion with 805 listings at the end of January compared to 790 at the end of 2016. Furthermore, Euronext welcomed Vontobel, a new warrants and certificates issuer, on
Nasdaq Commodities and Saxo Bank are teaming up to offer small and medium sized companies (SMEs) in the Nordic region direct access to Nordic Power futures on Saxo’s fully integrated trading and risk management platform. The addition of Nasdaq Nordic power products on SaxoTraderGO offers Saxo’s clients access to a liquid product at the most established power market in Europe. With Saxo, clients can hedge their energy and currency exposure with low barriers to entry.      Saxo’s clients can trade the global markets from a single dashboard and have a clear view of their overall portfolio exposure across all asset
Matthew Hepler, a partner at hedge fund Mercato Capital Management, has been appointed to the board of directors of Terex, with immediate effect. Prior to joining Marcato, which is a significant shareholder in Terex, Hepler was a managing director at Relational Investors where he led the firm’s research team focusing on the industrials and materials sector.   David A Sachs, chairman of the board, says: “We are pleased to have Matt join the Terex board of directors representing the perspective of one of our largest shareholders.”   John L Garrison, Jr, Terex president and chief executive officer, adds: “We look

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