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MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed John Sergides as Managing Director, Global Head, Business Development & Marketing. 


The appointment, which reinforces MUFG’s commitment to the asset servicing sector, is effective from 14 December 2015 and coincides with the completion of MUFG Investor Services’ acquisition of UBS Asset Management's Alternative Fund Services (AFS) business. 

Sergides will be responsible for driving MUFG Investor Services’ asset servicing solutions. These include fund administration, middle-office outsourcing, custody, depository, trustee, fund of hedge fund financing, FX and wider banking services to new clients, as well as deepening
- 17/12/2015
Hong Kong-based macro-economic hedge fund Guard Capital is now using TFG Financial System cloud-based, cross-asset technology solution for its multi-asset portfolio and risk management requirements.
Guard Capital, which was founded by Leland Lim and Allan Bedwick, is drawing on TFG’s trade capture and risk management capabilities to support its real-time approach to financial markets. Guard pursues macro-economic themes, making use of highly liquid instruments to maximise investor returns using emerging market currencies, interest rates and other markets.
Guard says it chose TFG because of its focus on multi-asset product support, including real time risk reporting and stress testing features,
- 17/12/2015
The US Commodity Futures Trading Commission (CFTC) has approved the Final Rule on Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants. The Commission voted 2 in favour and 1 opposed.
The new regulation addresses margin requirements for uncleared swaps entered into by swap dealers (SDs) or major swap participants (MSPs) that are not subject to regulation by the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Farm Credit Administration or the Federal Housing Finance Agency (CSEs).
The Commission’s margin requirements will protect the safety and soundness
- 17/12/2015
HazelTree and Goldman Sachs Asset Management (GSAM) have formed a strategic partnership to assist hedge funds, fund administrators, managed account providers and family offices in improving their cash management.
The partnership is in response to the changing regulatory environment for systemically important financial institutions (SIFIs), particularly Basel III guidelines on capital requirements and balance sheet composition.
“Because of these new requirements, banks’ desire to accept or retain short-term cash deposits on their balance sheets has become challenging for SIFIs, and many institutional investors may not be able to keep cash balances on deposit in the same way they have
- 17/12/2015
Automation lies at the heart of Interactive Brokers' prime brokerage model. Be it for risk management, account management, trade execution and pricing, everything is streamlined so as to provide fund managers with a cost-efficient solution.
Interactive Brokers can be viewed as a technology company that operates in the PB marketplace. At a time when bank-owned primes are overhauling their legacy IT systems to bring them into the 21st Century, the ability to remain nimble and technologically lean is working in the favour of non-banking primes like Interactive Brokers.
"We are constantly updating our systems for the future. I would say
- 17/12/2015
- 17/12/2015
Regulation, in the form of AIFMD and Basel III, has had a profound effect on the way that prime brokers and fund managers view their relationship. Ten years ago, things were simple. Hedge funds and prime brokers alike operated with fewer regulatory constraints, leverage financing was more freely offered to funds of all shapes and sizes. But the environment has become a lot more complex. Banks' balance sheets come under increased pressure and managers face direct regulation under AIFMD, requiring those running EU-based AIFs to appoint a depositary.
"Last year, one of the biggest impacts of AIFMD was that it
- 17/12/2015
There's no question that regulation is causing prime brokers to reassess, and, where necessary, evolve their business model. Much is made of the fact that prime brokers are ruthlessly culling hedge funds, banishing them to hinterland. Hedge funds that aren't generating revenues for their primes have become the vampires of high finance, sucking the lifeblood out of banks' balance sheets.
Speak to any prime broker and the stock response is: `We need to improve our return on assets'.
This is completely understandable; necessary even. But it is equally incumbent upon hedge funds to assess, and, if necessary, cull their prime
- 17/12/2015
As the industry watches the growth of liquid alternatives among institutional and individual investors, fund managers are also looking ahead. The retirement market may be the next frontier. It represents a large and growing pool of assets driven by the importance of retirement savings across multiple investment segments.
How is growth in the retirement space opening the door to liquid alternative strategies? This Q&A with Pershing's subject matter experts Mark Aldoroty (pictured) and Rob Cirrotti will help fund managers understand what to consider when looking to the defined contribution (DC) plan space as a growth opportunity. There continues to be
- 17/12/2015
- 17/12/2015
By Jerry Lees (pictured), Linear Investments – A quasi-revolution is happening in prime brokerage. Post-2008, bulge bracket banks were non-discriminatory in the type of hedge fund business they onboarded as managers and their end investors sought to minimise counterparty risks post-Lehman Brothers by opening up accounts with multiple prime brokers. Today, the landscape is vastly different.
Basel III is having a profound impact on bulge bracket banks and their prime brokerage operations. The rules force banks to adhere to Liquidity Coverage Ratios (LCRs) which require them to hold onto sufficient High Quality Liquid Assets (HQLA) to manage down a 30-day market
- 17/12/2015
- 17/12/2015
Pre-2008, Prime Brokerage was a land grabbing exercise. Balance sheet was put to work, free of the shackles of regulation, and hedge funds of all shapes and sizes were welcome. That model has now changed under Basel III. And whilst US banks were quick to recapitalise following the financial crash, European banks have taken longer to assess their balance sheets. Many are now taking steps to restructure as a result.
"In the post-2010 era, it has become a much clearer regulatory environment and a much tougher capital situation, particularly for European banks. I think US banks, with liquidity stress testing
- 17/12/2015
- 17/12/2015
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