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By Kerill O’Shaughnessy, Walkers – In the aftermath of the financial crisis, the implementation of the Basel III agreement in the EU as part of the Capital Requirements Directive IV (CRD IV) legislative package has resulted in widespread deleveraging by EU banks. As a result of the limits placed on the capacity of banks to lend, small and medium-sized enterprises (SMEs) have been experiencing difficulty in accessing funding for operations, expansion and investment.
Although the effects of bank deleveraging are being experienced in all of the world's major economies, the effects have been particularly sharply felt in the EU where it
- 19/05/2016
The investment community voted to remain in the EU last night (Monday 16 May) following a passionate discussion at the ‘Brexit: Pursued by a Bear’ debate chaired and sponsored by law firm Howard Kennedy.
In a close and surprising vote, 56 per cent of attending delegates, drawn from the London investment community, voted to remain with 44 per cent wishing to leave.
The debate at the Merchant Taylors’ Hall in the heart of the City of London, chaired by Howard Kennedy partner Mark Stephens, was co-sponsored by Peterhouse Corporate Finance and accountants Welbeck Associates.
For the first time the question
- 18/05/2016
Cordium has formed a strategic alliance with specialist management consultancy Knadel allowing the provision of bespoke solutions to the many firms who are faced with the prospect of reviewing and enhancing their operating model, risk controls and regulatory adherence.
This newly formed partnership will harness the skills and experience of both firms to provide best of breed regulatory, business and technology consulting services to the investments industry. Together we will provide cohesive advice and analysis that reflects the practical experience of both firms, combining regulatory analysis, support and compliance infrastructure delivery with operational, business and technology advice and implementation.
The
- 18/05/2016
- 18/05/2016
By Josh Kestler, HedgeMark – On April 14, 2016, the trustees of the New York City Employees’ Retirement System (NYCERS) voted to liquidate its hedge fund portfolio. Following California Public Employees’ Retirement System’s decision in September 2014, NYCERS announcement has once again ignited a debate regarding the future of the hedge fund industry.
While hedge funds are currently under pressure from politicians and some members of the investment community, their demise has been greatly exaggerated. Hedge funds offer many benefits to investors including access to unique investment opportunities and return streams, the ability to hedge certain risks and overall
- 18/05/2016
Fred Alger Management has launched the Alger Small Cap Focus Fund, a new Alger SICAV sub-fund, to its product line-up.
The Fund will be distributed throughout Europe by La Française, an international asset management firm and a strategic development partner of Fred Alger Management.
Amy Y Zhang (pictured), CFA, Senior Vice President, of Fred Alger Management, (the sub-portfolio manager/investment adviser to Alger SICAV) is the portfolio manager of the Fund. Zhang, who has 18 years of investment experience, joined Alger in 2015 and also serves as portfolio manager of Alger’s Small Cap Focus and Small Cap Growth strategies for US-based
- 18/05/2016
The Hedge Fund Association (HFA) has announced the results of its 2016 Board of Directors election.
HFA's bylaws allow a capacity of 15 Directors. All HFA Directors are unpaid volunteers elected by HFA members and serving for three year terms. This year's election filled 5 Board positions with the following industry leaders: Evan Katz, Crawford Ventures; Mark McGoldrick, Cowen Prime Services; Marcia Rothschild, SS&C Technologies; John Schrier, CACEIS (USA); and Holly Singer, HS Marketing.
"Serving the global hedge fund community, HFA is proud to foster business and professional development, advocacy for investors, managers and service providers, and initiate industry public
- 18/05/2016
GCube has responded to increasing demand from US wind project-financed wind operators, notably those refinancing or going through acquisitions, by strengthening its underwriting team and rolling out its unique Weather Risk Transfer mechanism across the North American market.
Demand for tailored risk transfer solutions has reached an all-time high in the US wind energy sector as investors and project stakeholders look to mitigate the financial impact of volatile performance, following unprecedented low wind speed conditions throughout 2015 and 2016.
Large areas of the country, including the high-capacity regions of California and Texas, have recently experienced the lowest average wind speeds
- 18/05/2016
- 18/05/2016
Hedge funds gained 1.05 per cent in April according to the Barclay Hedge Fund Index compiled by BarclayHedge. Year to date, the Index is up 0.07 per cent as April’s gain moves it into positive territory for the first time this year.
Overall, 12 of Barclay’s 18 hedge fund indices gained ground in April. The Event Driven Index was up 2.40 per cent, Distressed Securities gained 2.41 per cent, Healthcare and Biotechnology was up 2.14 per cent, Convertible Arbitrage gained 1.81 per cent, and Emerging Markets added 1.27 per cent.
“Improving trade data out of China, strengthening exchange rates for
- 18/05/2016
Montréal Exchange (MX) has appointed Luc Fortin as Managing Director, Derivatives Trading, effective 27 June, 2016.
Fortin (pictured) will be responsible for developing and deploying strategies to grow the derivatives business. He will also focus on the efficient delivery of new products and solutions to enhance the overall MX client experience and oversee the day-to-day operation of the derivatives market.
Fortin brings over 25 years of capital markets experience to MX, with a specialty in leading client-facing teams in fixed income and derivatives. Most recently, he served as Managing Director, Canadian Head of the Institutional Client Group at HSBC Bank
- 18/05/2016
The impact Dodd-Frank has had on the US Swaps market trading ecosystem is undeniable. The old standards of traditional over the counter (OTC) derivative trading have been thrown to the wind and trading on Swaps Execution Facilities (SEFs) has been ongoing for more than two years now.
TABB Group believes we have reached a new stage in the US OTC derivative market regulatory overhaul as regulators are ready to address the shortcomings in;what has been mandated. However, outstanding issues around pre- and post-trade still need to be resolved as the market moves toward an increasingly electronic landscape and though adoption
- 18/05/2016
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