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Hedge funds posted mixed performance to begin the fourth quarter, as US equities weakened amid increasing uncertainty before election day, not just on the presidential-front, but also with regard to the control of Congress and state-level results. Rising market uncertainty resulted in a divergence between top hedge fund firms, which produced strong gains, and smaller firms, which suffered declines.   The HFRI Asset Weighted Composite Index (AWC) posted a gain of 0.6 per cent for October, driven by strong returns in leading Macro funds, while the HFRI Fund Weighted Composite Index (FWC) fell 0.6 per cent for the month, bringing
Calamos Investments has appointed R Matthew Freund as co-chief investment officer, head of fixed income strategies, to spearhead the firm's further expansion into fixed income, credit and alternative products. Freund (pictured) joins Calamos from USAA Investments, where he was chief investment officer of USAA Investments, leading the teams responsible for the portfolio management of USAA's mutual funds and affiliated portfolios, including P&C and life insurance products, and overseeing more than USD140 billion in assets.     John P Calamos, Sr, founder, chairman and global chief investment officer, says: "Matt adds a depth of experience to the firm in a new
By Fiona Le Poidevin (pictured), CEO, Channel Islands Securities Exchange (CISE) – International developments such as the EU’s Alternative Investment Fund Managers Directive (AIFMD) and the OECD’s Base Erosion and Profit Shifting (BEPS) initiative are placing increased focus on the substance of investment structures.  Asset management groups are still dealing with the implications and in doing so, they should consider how they can demonstrate additional substance by listing on the Channel Islands Securities Exchange (CISE).  We offer a fully regulated marketplace from our offices in Guernsey and Jersey, which are within the European time zone but outside of the EU. Today,
Fund governance firm DMS Governance has expanded its US business with the appointment of William H Woolverton, former senior managing director and general counsel at Gottex Fund Management, in its New York office. Woolverton (pictured), who will serve as managing director – US and head of US legal, has experience working on fund governance and administration issues with a particular emphasis on managing legal and compliance issues for a wide variety of public and private investment funds.    He has also worked with boards of directors and CEOs of investment management firms on governance best practices and day to day corporate
Broad geopolitical risks, including the outcome of the US presidential election and Britain’s exit from the EU, are among top risks facing the global financial system, according to a survey by The Depository Trust & Clearing Corporation (DTCC). Other geopolitical risks that were mentioned include instability in the Middle East, the impact of the ongoing refugee crisis across Europe, and the influence of Russia and China on global relations and the world economy.   Respondents highlighted the unpredictable nature of world events, citing the potential for sudden escalation that could cause global market volatility and instability.   Cyber risk remained
First Names Group has promoted Andrew De La Haye to deputy managing director of its Jersey trust business, effective immediately. De La Haye previously worked as client services director at the group for two years.   He joined the business following the acquisition of Seymour Trust in 2014 where he held the position of managing director.   De La Haye says: “First Names Group has achieved phenomenal growth over the past few years and I am really looking forward to supporting Ben with the day-to-day management of the business. I am constantly impressed by our ‘First Names’ for their dedication
Franklin Templeton Investments has soft launched the FTIF Franklin K2 Global Macro Opportunities Fund, a sub-fund of the Luxembourg-registered Franklin Templeton Investment Funds (FTIF) SICAV range. This is the second liquid alternatives fund to be launched in the FTIF range. Luxembourg-based investors will be able to access the new fund from 25 November 2016.   The multi-manager fund seeks total return over a full market cycle through capital appreciation and will aim to achieve this goal by allocating its net assets across global macro oriented ‘alternative’ strategies. These will be sub-advised by institutional-quality managers and selected by the investment management
Singapore Exchange (SGX) has secured court sanction for its acquisition of Baltic Exchange. The court sanctioned its proposed scheme of arrangement under Part 26 of the UK Companies Act.   The acquisition is expected to be completed on 8 November 2016.
Timothe Fuchs (pictured) is the CEO of eponymous Luxembourg-based Fuchs Asset Management. With regulation becoming so vast and complex, especially in Europe, he is in no doubt that alternative investment managers need all the help they can get with respect to the day-to-day operational and compliance demands of running AIFMD-compliant funds. "Managers are getting fed up with all the reporting obligations they need to face each day. Also, and equally important, they are looking to use the European passport under AIFMD, especially now with the Brexit decision, given that large European institutional investors prefer regulated fund structures," says Fuchs.  As
As asset managers face a barrage of global regulation and compliance demands, one of the biggest challenges they face is knowing who is responsible for the firm's data and where its source is located.  This requires having a proper data governance framework in place to control how and where data moves from source to a range of various outputs required for regulatory and fund distribution purposes.  Of course, this is easier said than done. Data is like water: one can never control exactly where it is going but one can at least funnel the majority of it and know where

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