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Whilst the Netherlands might not be foremost when people think about choosing their preferred European jurisdiction, there are many advantages it has to offer. The Dutch regulator, the Authority for the Financial Markets ('Autoriteit Financiële Markten', or 'AFM'), is proactive, swift at processing licenses for full-scope AIFMs, and easy to approach if the manager has anything that needs clarifying.  As well as having first-rate transport, operational and technical infrastructure supported by a deep pool of professional advisers, the Netherlands' reputation is helped by having: • A political and economic climate, which has been stable for decades; • An exceptional number
Since the Irish Collective Asset Management Vehicle (ICAV) came into effect on 18 March 2015, more than 157 vehicles had been authorised by the Central Bank of Ireland (through March 2016), according to the latest statistics released by Irish Funds, the representative body for Ireland's cross-border investment funds industry. In total, these funds have more than EUR8.4bn in AUM and have attracted net positive inflows every single month.  This is a testament to Ireland's reputation as Europe's leading onshore alternative funds jurisdiction and is helping to further augment the number of Irish-domiciled funds.  "Ireland has a longstanding tradition as a
Over the years, Ireland has built out its financial services industry to become Europe's de facto onshore alternative funds domicile.  Up until March 2015, the most popular legal entity was the Irish Plc, also known as a Part XIII Company. This has since been superceded by the hugely popular Irish Collective Asset Management Vehicle (ICAV). Since March 2015, more than 157 new funds have been registered with the CBI using the ICAV fund vehicle, equating to more than EUR8.4bn in AUM. The majority of ICAVs, moreover, have launched as AIFs to market into Europe.  The ICAV was designed to improve
The publication of this Guide comes as shockwaves from the UK's decision to withdraw from EU membership continue to reverberate across the world, raising several challenges for UK-based asset managers distributing across the EU. As Bobby Johal, Managing Consultant, Cordium, notes: "UCITS funds will still be distributed across Europe, but not in quite so straightforward a manner as is the case presently. UK UCITS will lose their status (under the UCITS directive) and most likely become alternative investment funds (AIFs). If we assume the UK is to be a `third country' (the so-called WTO option: a big assumption, subject to
EBS BrokerTec and ICAP Information Services (IIS) have launched the EBS CNH Benchmark, a fully electronic, trade-backed reference rate for the offshore Chinese renminbi (CNH) market. The benchmark has been launched following considerable interest from a number of major Chinese banks and senior onshore authorities   Published daily at 16:30 Beijing/08:30 GMT, the EBS CNH Benchmark is timed to coincide with the onshore renminbi (CNY) market close. This will allow market participants a direct comparison of CNY and CNH market activity during the increasingly significant APAC-EMEA crossover. The benchmark will provide the first transparent reference rate for offshore RMB trading
MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Marc Russell-Jones as head of business development for EMEA. Russell-Jones will be responsible for driving the growth of MUFG Investor Services’ asset servicing solutions across hedge funds, fund of funds and private equity/real estate funds in the EMEA region. These solutions include fund administration, middle-office outsourcing, custody, depository, trustee, fund of hedge fund financing, FX and wider banking services.   Formerly head of asset manager sector solutions for the Nordics and UK at State Street, Russell-Jones brings over 15 years’ experience from business development roles
Barclays Bank is to pay a USD560,000 penalty to settle Commodity Futures Trading Commission (CFTC) charges that it failed to submit accurate large trader reports (LTRs) for physical commodity swap positions.  Barclays is headquartered in London and has been provisionally registered with the CFTC as a swap dealer since 12 December 2012.   The CFTC order requires Barclays to pay a USD560,000 civil monetary penalty and to cease and desist from committing further violations of the CEA and CFTC regulations, as charged.    As stated in the order, large trader reporting for physical commodity swaps is essential to the CFTC’s
Law firm Mourant Ozannes has moved to new office space at Landmark in order to accommodate rapid expansion in its Hong Kong office. Driven by demand for its services, nine new starters have joined Mourant Ozannes' Hong Kong office in the last 12 months. The firm's offering in Asia continues to grow with promotions and further planned expansion.   Paul Christopher, Hong Kong managing partner, says: "Since the establishment of the Hong Kong office our Asian business has grown significantly and we continue to work on many of the most complex, high profile matters in the region. Moving to a
Prestige Capital Management has launched its Commercial Finance Opportunities Fund on the Sweden-based Mutual Funds Exchange (MFEX) platform and has launched a dedicated Swedish Krona (SEK) hedged share class. The fund aims to achieve consistent absolute returns in most market conditions, using a diverse portfolio that carefully manages individual client and sector asset allocation risk. Prestige targets long term, consistent risk-adjusted returns with low systemic or market risk.   Target returns are 5-7 per cent per annum, with a target volatility of 1 per cent per annum.   By investing in a diverse portfolio of specialist loans, the fund aims
HIG Bayside Capital, the distressed debt and special situation affiliate of private equity firm HIG Capital (HIG), has closed the HIG Bayside Loan Opportunity Fund IV with aggregate capital commitments of USD1.1 billion, exceeding its USD1.0 billion target. The fund will continue HIG’s investment strategy of focusing on investments in small-cap special situation credit opportunities in the US.   Sami Mnaymneh (pictured) and Tony Tamer, co-chief executives of HIG, say: “We are grateful for the support from our investors for this offering. The strong response to the fund reflects their confidence in the capability of our team and our differentiated

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