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ICG Management Limited ('ICG') is an independent director services provider. It was established in 2006 by Ralph Woodford (pictured) and Andrew Galloway. Along with Galloway and Woodford, the firm's two other directors, Brad Cowdroy and Greg Link, ICG provides director services to offshore funds.  Speaking to Hedgeweek, Woodford and Cowdroy explain how the agendas and contents of board meetings are changing, principally in response to growing regulation, and the subsequent impact this is having on a Director's role.  Fund valuations Following the implementation of AIFMD, the responsibility for fund valuations has morphed from the Fund Administrator's responsibility, with board oversight,
The Cayman Islands is preparing to introduce a new vehicle, the Cayman LLC, in response to growing demand among U.S. fund managers and attorneys. The Cayman Islands published a bill for a new stand-alone LLC law on 18 December 2015 and according to Hayden Isbister (pictured), Partner at Mourant Ozannes (Cayman Islands), the expectation is that it will be approved by the Cayman Government and enacted in early 2016. The draft bill is based, in part, on equivalent Delaware LLC legislation and therefore provides for a legal framework that will be familiar to practitioners using Delaware LLCs.  "At the moment
By Ashley Gunning (pictured) & Charlotte Beales-Hart – Commentators to the hedge fund industry agree that the fund administration landscape has been altered significantly by the mergers and acquisitions activity of the last few years. The consolidation of larger institutional services providers in this space, along with the exit of some smaller administration shops, has naturally flowed through to impact the industry in the Cayman Islands. Recent notable consolidations include SS&C Technologies' acquisition of Citigroup's Alternative Investor Services hedge fund and private equity offerings and the agreement by UBS to sell its administration business, including the UBS operation in the
By Geoff Ruddick – There has been an extraordinary focus on and trend towards `split boards' in the last few years. For most people the accepted definition of a 'split board' is having independent directors from different fiduciary firms. It is considered by some to be the best way to construct a board. In reality this is an overly simplistic definition and assessment of how to recruit and construct an effective and diverse board. So how did this readily accepted definition come to be? In some respects there is merit and in other respects it is simply a sales pitch. 
By Chris Humpries (pictured), Stuarts Walker Hersant Humphries – The Cayman Islands is the principle offshore jurisdiction for hedge funds and mutual funds and seeks to retain its status by implementing an innovative legislative and regulatory regime and by continuing to have an absence of taxation. Hedgeweek Global Awards 2015 declared The Cayman Islands the best hedge fund services jurisdiction. Given the historic success of the Cayman Islands as a fund domicile, it also boasts the presence of sophisticated and professional service providers who are knowledgeable in the nuances of the fund industry. Some of the core changes to the funds industry
It’s safe to say that the Cayman Island Government’s in-tray is probably rather full at the turn of the year. Two major developments are in train, both of which are set to further enhance the jurisdiction’s reputation. The first of these developments is the impending introduction of a new legal vehicle – the Cayman Islands limited liability company (“LLC”), which is expected to be brought into force in early 2016 (likely March or April). The second development is the introduction of an AIFMD opt-in regime, with the hope that come the end of 2016, Cayman will be on ESMA’s Third
Neonet, an independent agency broker and execution specialist, has joined AIM Italia, Borsa Italiana’s marketplace for SMEs, as a member firm.
  
“As an independent agency brokerage, we constantly review our access to all available European liquidity.  Recent customer demand for access to Italy’s SMEs lead to our decision to become a member of AIM Italia,” says Tim Wildenberg, Chief Executive Officer of Neonet. “We are delighted to offer our clients access to SMEs listed on AIM Italia.”
 â€¨“I am delighted to welcome Neonet on AIM Italia. This new membership expands opportunities for Italian SMEs and will further boost liquidity
Mirabaud Securities is developing its electronic trading capabilities with the appointment of Jason Rand to the newly created role of head of global electronic trading. Rand will be tasked with the development and expansion of Mirabaud’s electronic trading capabilities across EMEA, Asia, and the Americas. His appointment emphasises the scale of Mirabaud’s ambitions to build on their existing services to institutional clients.   Nicolas Tissot, chief executive officer of Mirabaud Securities, says: “We are delighted to welcome such a high calibre specialist to spearhead the growth of our global electronic trading proposition. Jason has an exceptional track record and a proven ability
GLAS, an independent provider of finance administration services, has launched in the US, with Daniel R Fisher appointed to the helm of its New York-based office. The move is designed to capitalise on the new opportunities arising in the US and reflects demand for efficient, cost-effective services as traditional providers withdraw from the market. Across the Atlantic, GLAS’ organic growth continues with three new hires in London.   GLAS was established in 2011. It offers a wide range of administration services to lenders, borrowers, issuers and advisers across the loan and debt markets, specialising in complex deals including loan and
Large institutional investors expect to embrace active management in 2016 to combat macro-economic trends, anticipated market volatility and divergent monetary policy, a new BlackRock survey has found. During December 2015, BlackRock polled over 170 of the firm’s largest institutional clients, representing USD6.6 trillion in AUM, about potential changes to their asset allocations in 2016. The findings also indicated investors are increasingly embracing illiquid assets, including private credit and real assets, as a way to meet their long-dated liabilities.   “Recent market volatility is driving a repricing of assets globally. The ripple effect from recent events is causing investors to actively

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