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Bermuda remains fully committed to the process of qualifying under rules set out by the European Union for third-country rights for Island-based alternative fund managers.
The European Securities Market Authority (ESMA) last week cleared the way for Guernsey, Jersey and Switzerland (pending passage of legislation by the latter) to be approved for extension of "passport" rights that would allow non-European Union fund managers to market their Alternative Investment Funds (AIFs) in EU member states on a cross-border basis. The recommendation would extend the same rights to approved non-EU entities that are currently available only to EU-based AIF managers (AIFMs).
In
- 05/08/2015
Aberdeen Asset Management is to acquire Arden Asset Management (Arden), a provider of hedge fund solutions with offices in New York and London.
This acquisition is in line with Aberdeen’s strategy to strengthen and grow its global alternatives platform encompassing multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects. This means that Aberdeen can offer its clients access and exposure to high quality alternative investments across liquid strategies, private markets and real assets.
Arden is a hedge fund specialist that creates and manages hedge fund portfolios across the liquidity spectrum using
- 05/08/2015
Three of Market Vectors Index Solutions (MVIS) six investable Long/Short Equity Indices recorded positive performance in July.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Western Europe Long/Short Equity Index led the way wiyh a return of 1.80 per cent followed by the Market Vectors Global Long/Short Equity Index (1.61 per cent) and the Market Vectors Emerging Markets Long/Short Equity Index
(0.26 per cent).
The month’s biggest loser was the Market Vectors Asia (Developed) Long/Short Equity Index which was down
- 04/08/2015
The new DC Charge cap on default funds may eventually drive trustees to source products based on cost rather than the value that a well-sourced selection of investment solutions should deliver for their members.
That’s the concern of Aurum, a specialist alternative investment manager focused on hedge fund solutions.
Kevin Gundle (pictured), CEO of Aurum Funds Limited, says: "The charge cap restricts the ability of investment managers to provide innovative solutions that provide greater value to pension fund members. This industry could be in real danger of being left with a series of conventional, undifferentiated, low-cost products in a race
- 04/08/2015
Over the last 10 years, organisations have undergone a wholesale change in the way they run their businesses. Thanks to cloud-based platforms, wireless Internet, and the proliferation of desktop and mobile device applications, the perimeter of most businesses has moved beyond the four walls of their office. This has revolutionised the way people work: no longer tied to their desks they can be equally as effective aboard an aircraft or sitting next to the beach on vacation.
Data has become instant. Accessible.
Of course, this has placed huge demands on IT managers who must now control the security of their
- 04/08/2015
Jim Bumpus has joined Columbia Threadneedle Investments as National Sales Manager.
Bumpus will lead intermediary sales and distribution in the broker dealer and independent channels and report to Joe Kringdon, Managing Director, Head of Intermediary Distribution.
In this role, Bumpus will oversee an established and experienced sales team and be responsible for expanding the firm’s business relationships with US intermediary partners.
“We are pleased to welcome Jim to Columbia Threadneedle Investments,” says Kringdon. “His extensive experience and demonstrated focus on clients reinforces our commitment to our distribution partners.”
Bumpus brings nearly 30 years of experience in financial services, including multiple
- 04/08/2015
American Century Investments has expanded its line of alternative mutual funds and created a new brand – AC Alternatives from American Century Investments.
The new suite of mutual funds includes the new subadvised multi-manager AC Alternatives Income (ALNNX-Investor Class) fund and two existing American Century-managed mutual funds, Equity Market Neutral (ALHIX-Investor Class) and Market Neutral Value (ACVVX-Investor Class). The latter two have been rebranded with the AC Alternatives moniker.
American Century has engaged Perella Weinberg Partners Capital Management to provide investment management and allocation services and to recommend and interact with sub-advisors for AC Alternatives Income, as well as two
- 04/08/2015
Sidley Austin has appointed Rupert Wall as a partner in the firm’s Global Finance practice in London.
Recognised in legal directories as one of the brightest young partners in the London market, Wall brings a broad range of structured finance experience to Sidley’s securitisation and structured finance practice. In particular, Wall has led the structuring and restructuring of securitisation deals across a broad range of asset classes, including trade receivables, credit-card receivables, auto loans, vehicle rental fleets and mortgage loans, and a broad range of structures, including CLOs, ABCP conduits and whole business securitisations.
“Rupert's decision to join us is
- 04/08/2015
CME Group and FTSE Russell have entered into a licensing agreement establishing CME Group as a global partner for futures, options on futures and OTC cleared products on FTSE Russell.
"We're pleased to partner with FTSE Russell to help investors around the globe better manage equity index exposure," says CME Group Executive Chairman and President Terry Duffy. "Together, we will provide market participants with the capital efficiencies of trading multiple indexes on one platform and through a single clearing house."
"We are delighted to have signed an agreement with CME Group to develop a range of equity index futures products
- 04/08/2015
Eze Castle Integration has expanded its Information Security Consulting Service to Hong Kong and Singapore.
Eze Castle Integration's security consultants provide development and audit services for Written Information Security Policies (WISP), enabling clients to address the administrative and technical safeguards necessary to withstand a cybersecurity incident.
The financial industry is facing mounting cybersecurity threats while regulators are calling for higher levels of preparedness. Eze Written Information Security Services are provided by Eze Castle's security and compliance consultants who follow a proven methodology from assessment and analysis to implementation and maintenance. Key elements include:
– Conducting Operational and Technical Risk Assessments;
- 03/08/2015
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