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The law introducing a new Luxembourg alternative fund structure, the Reserved Alternative Investment Fund (RAIF), has been approved by the Luxembourg Parliament and will come into force three days after publication in Luxembourg’s Official Gazette Mémorial.   Denise Voss (pictured), chairman of the Association of the Luxembourg Fund Industry, says: “The Luxembourg RAIF Law provides an additional – complementary – alternative investment fund vehicle which is similar to the Luxembourg SIF regime. Unlike the SIF, the RAIF does not require approval of the Luxembourg regulator, the CSSF, but is supervised via its alternative investment fund manager (AIFM), which must submit
AltX, the San Francisco based hedge fund intelligence platform, has launched AltX Estimates, providing clients with return data on more than 17,000 funds, including performance data on over 80 per cent of the ‘Billion Dollar Club’ funds. AltX Estimates delivers performance estimates for funds, even those that have not publicly shared their returns. The proprietary model leverages information from regulatory filings combined with other data and techniques proprietary to AltX.   The process does not use 13F data as an input. Examples of fund managers in the data set include DE Shaw, Farallon, Taconic, Eton Park, Viking, and hundreds of
The London Metal Exchange (LME) is initiating a market-wide consultation proposing to control escalating warehousing costs by imposing caps on maximum charges. If enacted, the first capped charges would come into effect on 1 April 2017.   “The metals industry has expressed concerns over the headline rates charged by LME-registered warehouse operators. After conducting an extensive discussion process, the LME believes that a fair and straightforward approach to this very complex issue would be to cap these maximum rates and to impose a medium-term freeze on increases,” says Matthew Chamberlain, head of business development.   The LME proposes to set
Advisers consider alternative investments key to growing their high-net-worth (HNW) business, but a lack of access to quality products stands in the way of larger allocations to the asset class, according to a financial adviser survey commissioned by Artivest. The majority of financial advisers surveyed (54 per cent) believe that offering alternatives is important to retaining and attracting HNW investors, yet lack of access to quality funds was the number one reason (26 per cent) why advisers believe their adoption of alternatives is lower than that of institutions.   Advisers also cited higher retail client fees (22 per cent), the
MainstreamBPO has opened a New York office for its hedge fund administration business. The new office is the group’s first in the Northern Hemisphere, adding to the existing network of offices in Australia, Singapore, and Hong Kong.   MainstreamBPO chairman and managing director Byram Johnston (pictured), who will oversee the new operations, says a North American presence is the next phase in the group’s execution of its client growth strategy.   “After the success of our offices in Asia we have been evaluating international markets to further expand our hedge fund administration business. Opening an office in New York is
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for June 2016 measured -0.54 per cent. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 2.24 per cent in July.   "SS&C GlobeOp's Capital Movement Index for July 2016 came in at -2.24 per cent, in line with normal seasonal patterns and a year over year improvement compared to -2.96 per cent for July 2015," says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies. "This improvement was due to lower outflows versus a year ago, which outweighed slightly smaller inflows."   
The European Energy Exchange (EEX) continued its growth course and achieved new record volumes in its markets in the first half of 2016. In the first six months of the year, a volume of 2,247.8 TWh was traded on the Power Spot and Derivatives Markets (H1 2015: 1,422.1 TWh), which corresponds to a 56 per cent increase as against the previous year.   On the EPEX SPOT Power Spot Markets, a total volume of 277.2 TWh was traded (H1 2015: 237.5 TWh). From 4 May 2015 onwards, this included the volumes of APX, including Belpex, which was integrated into EPEX
Preqin’s latest survey of over 270 hedge fund managers finds that the industry is facing increased pressure from investors on fees and transparency, while attempting to overcome a negative perception of the asset class that has arisen partly due to performance issues through the first half of the year. Over half (52 per cent) of surveyed managers report that investors are more negative about the industry compared to 12 months ago, and 43 per cent identify investor demands for more favourable fees as a key driver of change in the industry, up from 28 per cent that said so in
FINCAD, a provider of valuation and risk analytics for multi-asset derivatives portfolios, has made enhancements to F3, its advanced valuation and risk solution. Central to these enhancements are a straightforward interface and improved usability, enabling quants, portfolio managers, traders, and risk managers to quickly leverage F3’s capabilities to help generate superior investment returns.   Low yields and negative interest rates are making it difficult for portfolio managers and traders to achieve their desired level of returns, and as a result, are seeking to improve returns with new strategies, additional asset classes and derivatives. At many firms, legacy systems are straining to
Large institutions are shifting trading volume to algorithmic avenues of execution as the overall commission pool remains flat, according to a study from Greenwich Associates. Greenwich Associates, which conducted interviews with 223 US equity portfolio managers and 321 US equity traders between November 2015 and February 2016, estimates the annual pool of cash equity commissions paid by institutional investors to brokers on US equity trades to be USD9.65 billion, down more than 30 per cent from its peak in 2009.   “While that may seem like a dismal figure, it is important to note that the 2016 level is about

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