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Fraud, cyber and security incidents are now the “new normal” for financial services companies across the world, according to the executives surveyed in the 2016/17 Kroll Annual Global Fraud and Risk Report.
Nearly nine in 10 (89 per cent) executives in the sector reported that their company fell victim to fraud in the past year, highlighting the serious threat to corporate reputation and regulatory compliance.
Theft of physical assets is the most prevalent kind of fraud suffered in the sector, reported by 39 per cent of respondents. This is followed by vendor, supplier or procurement fraud (32 per cent).
- 17/01/2017
Hedge funds saw gains of 4.48 per cent in 2016, posting better performance compared to a modest 1.78 per cent gain during 2015, according to the latest Eurekahedge Report.
The asset base for the industry contracted USD12.2 billion in 2016, on the back of steep redemption pressure with net outflows totalling USD42.5 billion for the year.
The asset base for relative value mandated hedge funds meanwhile, expanded 17.28 per cent for the year, growing by USD9.8 billion. Relative value mandated hedge funds gained 6.30 per cent in 2016, with underlying relative value volatility hedge funds up 7.22 per cent
- 17/01/2017
- 17/01/2017
The Depository Trust & Clearing Corporation (DTCC) has appointed Derek West, former senior director of derivatives oversight at the Quebec Autorité des marchés financiers (AMF), as executive director and chief compliance officer for the firm’s European Global Trade Repository (GTR) business.
West (pictured) will be responsible for ensuring GTR Europe remains in full compliance with European Market Infrastructure Regulation (EMIR) trade repository requirements, as well as other applicable laws and regulations.
In addition, he will coordinate EMIR supervisory activities and examinations, as well as work closely with GTR senior management and the European Securities and Markets Authority (ESMA).
At
- 17/01/2017
MSCI has appointed David Zhang has head of securitised products research, a newly created role.
Zhang, who previously headed modelling of securitised products at Credit Suisse, will oversee MSCI’s development of models that help traders, portfolio managers and other institutional investors analyse risk and return for securitised products.
“David Zhang is among the top fixed income modellers in the financial industry,” says Remy Briand, MSCI’s global head of research. “We are thrilled to welcome him to MSCI.”
In 11 years at Credit Suisse, Zhang designed models for measuring risk to mortgages from factors such as prepayment, volatility, home
- 17/01/2017
The team behind alternative investments platform CoInvestor have launched an online service, EISWallet.com, allowing investors and their financial advisers to record and manage all of their Enterprise Investment Scheme (EIS) and unlisted investments digitally.
The service, which is free to use and currently in beta phase, aims to take the hassle out of managing income tax relief as well as any capital gains implications from investing in EIS and other unlisted investments.
Instead of trawling through paperwork as the self-assessment tax return looms, investors can store details of their investments and upload share and EIS certificates to their EIS
- 17/01/2017
Apex Fund Services has completed its global implementation of Metrosoft’s compliance software, Fundsphere Compliance TA.
The Fundsphere platform is designed to meet the complex requirements of today’s transfer agent.
The deployment of this software across the Apex Group will deliver enhanced operational efficiencies for Apex’s 33 offices globally, plus real time TA transaction monitoring and entities screening against multiple sanction lists for its clients.
The top 20 global independent administrator will use Metrosoft’s technology to provide full data segregation and granular functionality in order to deliver an enhanced service to clients.
Sonja Maria Hilkhuijsen, global head of
- 17/01/2017
Hedge funds have experienced a quiet start to the year with the Lyxor Hedge Fund Index flat year to date, and the trends observed in Q4 of last year continuing to prevail in early 2017, according to Lyxor’s latest Weekly Brief.
Event driven led the pack last week and global macro has outperformed since the beginning of January. CTAs meanwhile, continue to lag behind. They have been negatively impacted by the pullback of the US Dollar and the reversal of energy prices.
Lyxor writes: “We have upgraded CTAs to Slight Overweight and maintained our strong convictions on fixed income
- 16/01/2017
PEGAS recorded its best annual traded volume in 2016 with a total of 1,733.3 TWh traded during the course of the year, an increase of 69 per cent compared to 2015’s figure of 1,024.8 TWh.
This increase was achieved across all PEGAS market segments.
Egbert Laege (pictured), CEO of Powernext, says: “The year 2016 was another important step for PEGAS to strengthen its role as a pan-European gas platform. Encouraged by that success, PEGAS will continue to develop the European gas markets together with the support of our members and partners in order to provide for efficient customer solutions
- 16/01/2017
- 16/01/2017
From January 2017 two representatives of foreign collective investment schemes – Acolin Fund Services (Zurich) and Hugo Fund Services (Geneva) – will cooperate more closely in advising asset managers on cross-border fund distribution.
While Hugo Fund Services has focused on alternative investment providers since it was founded in 2014, Acolin Fund Services gives particular support to mutual fund providers, in addition to its work in fund registration and representation, including sales support.
Since it is increasingly difficult to access investors in the context of cross-border distribution of investment funds due to increasing regulation (MiFID II and FIDLEG), the two
- 16/01/2017
RAM Active Investments (RAM AI), an active and alternative asset management company, has launched RAM (Lux) Systematic Funds – Long/Short Global Equities.
The fund, available in daily-dealing UCITS format, will be collectively managed by Thomas de Saint-Seine (pictured), Maxime Botti and Emmanuel Hauptmann, senior equity fund managers and founding partners, who have run the firm’s systematic equity strategies since 2007.
The fund’s strategy will look to capture market inefficiencies across the developed markets’ universe of more than 6,000 stocks through a quantitative model-driven fundamental and behavioural based stock selection process. The aim is to produce consistent risk-adjusted returns with
- 16/01/2017
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