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Increased confidence in the Channel Islands’ funds sector is reflected in positive year-end figures from both Guernsey and Jersey, says Ogier funds partner Simon Schilder.
The year-end figures for Guernsey funds under management and administration increased by 1.2 per cent to reach GBP2.7 billion over the fourth quarter of 2015 and GBP8.2 billion (3.7 per cent) year-on-year to reach GBP227.6 billion.
Jersey’s statistics revealed a GBP7 billion increase over the quarter – though a GBP3 billion loss year-on-year – to GBP225.8 billion in regulated funds under administration.
Schilder says: “ESMA’s positive recommendation of Jersey and Guernsey for the extension of
- 31/03/2016
Eurex Clearing is to launch a new membership type that allows buy-side participants to have a direct contractual relationship with the clearinghouse facilitated by a clearing agent.
The so-called ISA Direct service addresses changes in the regulatory landscape and will contribute to the safety, robustness and efficiency of the overall market. For buy-side firms, ISA Direct is a unique way to meet new regulatory requirements with reduced counterparty risk and strong protection for their assets. For clearing agents, the new service eases the adaptation to the new capital rules as it frees up equity capital currently required for client’s business
- 31/03/2016
- 31/03/2016
Specialist equity boutique Ardevora Asset Management has passed the five-year anniversary for its fund range, with each of its distinctive strategies significantly outperforming its respective benchmark since inception.
Ardevora’s investment team, which now manages in excess of GBP3 billion of assets, consists of founders Jeremy Lang and William Pattisson and fellow partners Ben Fitchew and Gianluca Monaco.
The team’s unique investment process is grounded in cognitive psychology and aims to exploit biases inherent in the three participants in equity markets: company management, analysts and investors.
Since its launch on 11 January 2011, the GBP213 million Ardevora UK Income Fund delivered
- 31/03/2016
Theodore “Ted” Tulpan has joined MUFG Union Bank as managing director and team lead for the Financial Institutions Group (FIG) within Transaction Banking.
Tulpan is responsible for developing the bank’s transaction banking business with financial institutions, including banks, broker-dealers, hedge funds, insurance and title companies, and financial exchanges. He manages a national team of sales professionals and associates. Tulpan is based in New York and reports to Charles “Chaz” Present, managing director US Wholesale Banking Treasury Services.
In addition, Zafer Uysal has joined the bank as vice president and sales officer for the Financial Institutions Group. Uysal is responsible
- 31/03/2016
Omni Partners (Omni) has launched the Omni Macro UCITS Fund (UCITS Fund) on the IAM Investments ICAV platform. It will follow a similar strategy to Omni’s existing commingled offshore fund, the Omni Macro Fund.
Omni Macro is a trading-orientated discretionary global macro strategy that pursues thematic and tactical opportunities in liquid products (foreign exchange, commodities, interest rates, equity indices) whilst retaining a disciplined risk management ideology. The portfolio is highly concentrated, typically pursuing a small number of core trading strategies (generally between two and five) at any given time, with each strategy tending to include a limited number of line
- 30/03/2016
Placement agent Eaton Partners is to open its seventh international office in Chicago in April 2016. This new office – which joins Eaton Partners' current offices in Hong Kong, Houston, London, Rowayton, San Diego, and Shanghai – will help further develop the firm’s global investor network and placement capabilities.
Managing Director Christopher Maduri will lead the new location within the Stifel Financial Corporation's Chicago office space located at 70 W Madison Street.
"We see tremendous value in having an on-the-ground presence in Chicago as it allows us to further strengthen client and institutional investor relationships in the region," says Peter
- 30/03/2016
- 30/03/2016
Anchin, Block & Anchin has appointed Jared Feldman as Co-Practice Leader of Anchin Private Client, a specialty group within the firm devoted to working with affluent clients.
Feldman specialises in providing a wide array of accounting tax, advisory and family office services for high net worth individuals including financial services and corporate executives, owners of privately held companies and established family offices. Feldman joins Ehud (Udi) Sadan as Co-Practice Leader of Anchin Private Client, one of the largest practice groups at the firm.
"As a partner and member of the Private Client steering committee, Jared has been instrumental to the
- 30/03/2016
Carrhae Capital, a London-based long/short asset manager, has expanded its use of EzeSoft Investment Suite with portfolio accounting capabilities.
Already a long-time user of Eze Software’s OMS, the hedge fund manager now uses Eze Portfolio Accounting (formerly Tradar) to manage its portfolio accounting needs, including valuation and reporting. Carrhae Capital has approximately USD1 billion in assets under management and focuses on emerging markets.
Carrhae Capital expanded its use of EzeSoft Investment Suite because of its flexibility, integrated workflows, and Eze Software’s approach to customer service. Eze Portfolio Accounting is being used for P&L and NAV calculations, reconciliation, and reporting.
- 30/03/2016
ABR Dynamic Funds, a New York-based asset management firm, is introducing its Smart Volatility mutual fund, the ABR Dynamic Blend Equity and Volatility Fund (ABRVX).
The fund, driven by algorithms designed to anticipate and dynamically rebalance during market volatility, is a welcome source of diversification intended to improve portfolio performance in turbulent markets.
"Volatility has long been seen as a one-dimensional threat," explains Taylor Lukof, CEO of ABR Dynamic Funds, LLC. "We believe volatility also represents opportunity and have designed a 'Smart Volatility' fund that allows investors to manage volatility as they would any other asset class in their
- 30/03/2016
The Depository Trust & Clearing Corporation (DTCC) and Digital Asset Holdings (Digital Asset) are planning to develop and test a distributed ledger based solution to manage the clearing and settlement of US Treasury, Agency, and Agency Mortgage-Backed repurchase agreement (repo) transactions.
Repo agreements were selected for this proof of concept because there is an opportunity to streamline how these products are cleared, as repo transaction volumes continue to grow.
Repo trades often occur in real time, with the settlement, clearing and netting processes happening in multiple steps. While DTCC’s Fixed Income Clearing Corporation (FICC) provides the matching and verification
- 30/03/2016
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