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Guernsey has introduced a Private Investment Fund (PIF) regime designed to provide fund managers with greater flexibility and simplicity.
The PIF, which was developed in response to market demand by the Guernsey Financial Services Commission (GFSC) in consultation with the island’s GBP247 billion funds industry, recognises that certain investment funds are characterised by a relationship between management and investors that is closer than that of a typical agent.
The PIF dispenses with the formal requirement for information particulars such as a prospectus in recognition of that relationship, significantly reducing the cost and processing time of launching of a fund.
- 17/11/2016
Northleaf Capital Partners has launched a global private credit programme, with more than USD1.4 billion in capital raised from a core group of Canadian pension plans.
Northleaf’s global private credit strategy provides investors with diversified exposure to private credit investments and offers flexible debt financing solutions to privately held companies.
Northleaf’s global private credit fund, Northleaf Private Credit I, held a successful first closing and will provide investors with diversified exposure to private credit investments including senior, unitranche, second lien, mezzanine and subordinated loans in North America, the UK, Western Europe and Australia, with a primary focus on private
- 17/11/2016
Palmer Square Capital Management, a credit and alternatives investment manager, has launched an ultra-short duration investment grade strategy in a mutual fund format, Palmer Square Ultra-Short Duration Investment Grade Fund (PSDSX).
Christopher D Long, president of Palmer Square Capital Management, says: "Given the lack of true ultra-short duration funds as well as the changes which have occurred with money market funds, we have had demand from our investors to access our ultra-short duration strategy in mutual fund format. We believe that the Fund offers investors a unique alternative to traditional shorter duration investments, in that, our strategy seeks low interest
- 17/11/2016
The International Commodities and Derivatives Association (ICDA) has signed a memorandum of understanding (MoU) with the China Futures Association (CFA) covering wide-ranging co-operation between the two associations including training and global advocacy.
The signing ceremony took place during ICDA’s 2016 Bürgenstock conference, which hosts the world’s oldest meeting of international regulators in private session.
Mingwei Wang, chairman of CFA, says: "It is a great honour to be attending the ICDA meeting and to be signing this memorandum for cooperation between our two associations. Promoting international relationships is one of the most important aims of the China Futures Association.”
- 17/11/2016
Credit-focused, institutional alternative investment manager Crestline Investors has appointed Frank Jordan as managing director, head of business development and client partnerships.
He will be based in Fort Worth and report to the firm’s partners.
Jordan spent 10 years at GoldenTree Asset Management as partner and head of business development, and was also a member of GoldenTree’s executive committee. During his time there, the firm grew from just over USD1 billion in assets across two funds and two CLOs to over USD15 billion across multiple funds and strategies. Jordan raised capital in the US, Europe, Australia, Asia (Singapore, Hong Kong,
- 17/11/2016
The US Commodity Futures Trading Commission (CFTC) has issued a report detailing the results of a supervisory stress test of five major clearinghouses based in the US and the UK, and the results for all five proved positive.
The purpose of the analysis was to assess the impact of a hypothetical set of extreme but plausible market scenarios across multiple clearinghouses and their clearing members.
The analysis, which covered CME Clearing, ICE Clear Credit, ICE Clear Europe, ICE Clear US, and LCH Clearnet, encompassed cleared futures and options, interest rate swaps, and credit default swaps, and found that clearinghouses
- 17/11/2016
Nearly half (48 per cent) of respondents to a survey by State Street Corporation and the Alternative Investment Management Association (AIMA) say that decreased market liquidity is a secular shift that is here to stay.
Regulations stemming from the 2008 financial crisis, coupled with historically low interest rates and slow rates of growth in the global economy, have constrained the ability of many banks to perform their traditional roles as market makers, which in turn has impacted broader market liquidity conditions.
More than three-fifths of the survey respondents say current market liquidity conditions have impacted their investment management strategy,
- 16/11/2016
Law firm Mourant Ozannes has advised 836 funds in Jersey with an overall value of USD302 billion, nearly triple the value of funds advised by its nearest competitor, according to independent annual research by Monterey Insight.
Mourant Ozannes leads the tables across all major categories, including largest legal advisers by total number of funds, and by fund assets.
Ben Robins (pictured), Jersey-based global head of funds at Mourant Ozannes, says: "This year's report evidences continued growth in our market share during a period of market volatility, indicating that Jersey's industry remains healthy and is capable of adapting quickly in
- 16/11/2016
- 16/11/2016
IPC, a provider of communications and networking solutions for the financial markets community, has enhanced its network capabilities in Russia.
IPC's points-of-presence (PoPs) in Moscow have been enhanced to support all of IPC's channel solutions including the firm's flagship extranet service, latency sensitive managed Ethernet service and MPLS corporate WAN solution.
The announcement was made at an exclusive client event attended by senior industry leaders at the prestigious Swissotel Krasnye Holmy hotel in Moscow and follows closely on the heels of IPC announcing that it has extended its Financial Markets Network service portfolio to its Connexus platform.
IPC's
- 16/11/2016
Linear Investments, a FCA-approved boutique prime broker, has appointed TFG Financial Systems for the provision of real-time margin reporting.
In addition, TFG will be adding its trademark real-time portfolio analytics to the Linear offering.
This will be extended to Linear’s hedge fund clients, enabling them to carry out sophisticated pre-deal margin and impact risk assessments.
Linear Investments is a provider of prime broking services for medium-sized hedge fund managers that are not being supported by larger prime brokers.
“At Linear we have found there is tremendous value to be offered to funds in terms of proper trading
- 16/11/2016
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