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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
Fund jurisdictions will need to keep their finger on the pulse of digital technology if they are to remain competitive over the coming years. Disruptive players are springing up on a daily basis offering innovative payment solutions, transaction solutions to improve efficiency.  Blockchain technology is set to be widely embraced by financial institutions. Just this week, Reuters reported that the first cross-border transaction between banks using multiple blockchain applications had taken place between Commonwealth Bank of Australia and Wells Fargo & Co. Luxembourg is well aware of the challenges and opportunities that disruptive technology presents and recognises the key role
The introduction of the Reserved Alternative Investment Fund under the Luxembourg Bill of Law N∞6929 (Bill 6929) this year could be a game changer for the jurisdiction. In short, the RAIF is an investment fund product that removes the double layer of regulation. Rather, the regulation focuses on the AIFM and crucially, gives fund sponsors a quicker time to market.  "I would use two words to describe the RAIF: revolutionary and innovative," says Kavitha Ramachandran, Director of MS Management Services, a Luxembourg-based subsidiary of the Maitland group, a leading global fund administrator. "I say revolutionary because of the move away from direct product regulation and the short turn-around time
CACEIS offers private equity fund managers bridge financing solutions that allow them to delay the process of collecting capital commitments from investors, thereby enhancing the internal rate of return of the fund.  In such an arrangement, CACEIS provides Equity Bridge Financing to the manager – essentially a guaranteed line of credit – whereby the financing arrangement is agreed not on the asset but on the uncalled capital commitment from high quality investors.  "In other words, it is financing on the liability side of the fund rather than the asset side of the fund," comments Nicolas Palate, Head of Private Equity and

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