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At SS&C Advent, an independent unit of SS&C Technologies who collectively support more than 10,000 customers worldwide, there has been, according to Jesper Steiness (pictured), Director of Global Accounts, a clear growth of interest among fund managers and service providers to improve automation with respect to alternative portfolio accounting and reporting.
This is happening at a time when alternative fund managers are converging in terms of the products they offer, with hybrid fund structures becoming a more popular feature of the landscape. But given the complexity of the assets, and the movement of cash flows within these structures, both managers
- 07/11/2016
- 07/11/2016
The recently introduced Reserved Alternative Investment Fund (RAIF) is compelling to fund managers because although it is not subject to direct supervisory authority from the CSSF, it is still a fully AIFMD-compliant product, benefiting from the European passport for marketing to professional investors in Europe.
"The time to introduce an unregulated AIF is a strong message and part of the construction of a new alternative investment fund norm in Europe," says Jean-Florent Richard (pictured), Head of Fund Engineering Services at BNP Paribas Securities Services, Luxembourg branch.
"The RAIF allows the bank to once again position itself as one of the
- 07/11/2016
- 07/11/2016
Luxembourg has deposited a new Bill of Law with the Luxembourg Parliament called the Reserved Alternative Investment Fund (RAIF) Regime. It is a regime that embraces the concept of AIFMD being manager-focused regulation. The RAIF, unlike the heretonow popular SIF, does not need to be under the direct supervision of Luxembourg's regulator, the CSSF. Instead, the RAIF merely needs to appoint an authorised AIFM, based in Luxembourg or any other EU jurisdiction.
This could be a key stage in the future development of Luxembourg as Europe's leading funds centre – and still the second largest fund centre in the world
- 07/11/2016
- 07/11/2016
The Taiwan Futures Exchange (TAIFEX) has launched three new derivative contracts – a Taiwan Dollar (TWD)-denominated Nifty 50 Futures contract, and two FX futures contracts: EUR/USD FX Futures and USD/JPY FX Futures.
Len-Yu Liu (pictured), chairman of the TAIFEX, says: “We are extremely pleased to be launching these new futures contracts. The Nifty 50 contract is the second foreign equity index product to debut on TAIFEX and aligns with our ongoing effort to introduce more overseas products to the Taiwan futures market.
“The EUR/USD FX Futures and USD/JPY FX Futures further expands the range of foreign currency products available on TAIFEX – an asset class that is proving popular with our customers. We look forward to developing more innovative products to help
- 07/11/2016
- 07/11/2016
Andrew Melnick has joined law firm Murphy & McGonigle as a shareholder in the firm’s New York office.
Most recently, Melnick (pictured) served as chief litigation counsel at RCS Capital (now Aretec Group), where he oversaw all litigations, investigations and regulatory inquiries for the firm, which had interests in sponsors and managers of alternative investments, wholesale brokerage distribution, investment banking, transfer agent operations, and the Cetera Financial Group independent broker-dealer network of over 9,100 registered representatives.
Melnick also served as deputy general counsel, head of retail litigation at UBS Financial Services.
"Andy is an excellent lawyer who will
- 07/11/2016
Gottex Fund Management has completed the second tranche of its recapitalisation, with some 20,000,000 newly issued shares now trading on the SIX Swiss Exchange.
Based on the issue price of CHF0.31 per newly issued share, the company expects to receive gross proceeds of CHF6.2 million in cash.
Arpad Busson (pictured), executive chairman, says: “The injection of fresh capital in two separate tranches in the last four months from such a diverse set of investors (institutional and high-net-worth individuals) is a vote of confidence in our vision as we continue positioning our business to meet the evolving needs of our
- 07/11/2016
The National Futures Association (NFA) has ordered The Cambridge Strategy Asset Management Limited, an NFA member commodity pool operator (CPO) and commodity trading adviser (CTA) located in London, to pay a USD60,000 fine.
The decision, issued by NFA's business conduct committee (BCC), is based on a complaint authorised by the BCC on 23 August 2016, and a settlement offer submitted by Cambridge.
The complaint alleged that Cambridge commingled offshore pool funds, distributed pool statements that contained errors, failed to receive funds in the name of the pool, failed to disclose the amount of all fees charged to pool participants,
- 07/11/2016
Moody Aldrich Partners (MAP) has acquired substantially all of the assets of Pittsburgh-based kWantix Trading and kWantix Trading Advisors.
In addition, MAP has entered into a long-term technology licensing agreement with kWantera, a Pittsburgh-based power market decision intelligence firm.
As part of the deal, Dr Kaiyu Shen, principal trader at kWantix, joins Moody Aldrich.
The business will continue to operate under the kWantix brand.
“The kWantix trading strategy is a unique quantitative addition to our platform,” says Eli Kent (pictured), managing partner of Moody Aldrich Partners, “its proven technology provides us with the foundation to develop an
- 07/11/2016
More than a third of asset managers plan on increasing investments in commercial loans, alternatives, derivatives, equities and mutual funds over the next 12-month period, according to a survey by SS&C Technologies.
The 2016 Global Insurance Asset Management Technology Outlook survey, which was conducted in Q2 2016, polled 100 insurance and asset management executives in accounting, finance operations, investments, and technology from around the globe.
Participants were asked to respond to 28 questions on current challenges, concerns, and the future direction of their asset management operations.
"Our 2016 survey shows that large insurers and other asset management firms
- 04/11/2016
International corporate, private client and funds business Hawksford has appointed Peter Cheesley as business development director.
Cheesley (pictured) joins from Nautilus Trust, where he was head of business development.
In his new role, which focuses on corporate, private client and fund services, he will be responsible for developing new business opportunities for Hawksford’s international offices in targeted regions.
“I am looking forward to growing the global business and enhancing Hawksford’s product offerings. Using the experience I have gained in the banking, legal and fiduciary sectors, I will focus on developing successful new business relationships and maximising revenue opportunities,”
- 04/11/2016
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