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Morningstar has made leadership appointments to the Morningstar Investment Management group for the Europe, Middle East, and Africa (EMEA) region.
Dan Kemp has been appointed Chief Investment Officer for Morningstar’s Investment Management group for the EMEA region. He replaces Daniel Needham, CFA, who became President and Chief Investment Officer for the Morningstar Investment Management group in January 2015. The company has also appointed Robin Johnson, CFA, as Head of Portfolio Management, EMEA. Both appointments are effective immediately.
Kemp and Johnson each bring almost two decades of investment experience to their new roles. Kemp joined Morningstar in 2014 as co-Head
- 08/06/2015
Last week US Treasury bond and German bund yields spiked, both hitting a new 2015 high. On Thursday, 10-year German rates reached 1.0% before losing ground later in the day. Intraday volatility reached record highs and according to hedge fund managers, the main driver behind the moves in the fixed income markets is the lack of liquidity. Brokers and dealers hold a small and shrinking percentage of the Treasury market.
- 08/06/2015
Pioneer Underwriting Limited has launched its Zero Capital AIFMD Investment Management Insurance Policy enabling full capital relief from the 'other funds' provision of the Alternative Investment Fund Managers Directive (AIFMD).
Current policies which meet the requirements of the directive, do not typically address the requirement that the policy excess be held as additional capital. Pioneer’s Zero Capital AIFMD Investment Management Insurance Policy, solves this problem by affording a nil excess for the first loss, requiring no additional capital to be held at the outset of the policy.
Richard Coello Head of Financial Institutions Underwriting at Pioneer, says: "I’m pleased
- 08/06/2015
In today’s increasingly complex and evolving regulatory environment, fund managers expect their providers to have a sophisticated risk management framework that meets global, regional and local standards.
“The reality is we are facing increasingly risk-conscious clients who are very aware that when it comes to governance and controls, small leaks can sink big ships,” says Raj Purmessur (pictured), Head of Fund Services Bangalore, part of the Investor Services business in Deutsche Bank’s Institutional Cash & Securities Services unit. “Our business processes, technology and staff are regularly assessed to ensure we meet today’s regulatory obligations – this goes a long way to increasing
- 08/06/2015
After months of gentle simmering, America's jobs market is back on the boil in a clear sign the US economy has cranked up the gas, says Marcus Bullus, trading director at MB Capital…
In the frantic minutes that followed the release of May's surprisingly strong jobs numbers, both the dollar and Treasury bonds were the big winners as the prospect of a September interest rate hike suddenly loomed larger.
But equities balked at the thought of the increasingly imminent removal of the economy's low interest rate crutch.
It's still an open question whether the US economy will stumble
- 08/06/2015
- 08/06/2015
The Enterprise Data Management Council (EDM Council) has received approval for Financial Industry Building Ontology (FIBO) Foundations as the first of thirty data content standards for the financial industry.
FIBO is an open standard for defining the business terms and relationships associated with financial instruments, pricing concepts and financial processes. These “common language” standards are used to align the way financial institutions describe complex financial instruments and financial processes so that industry participants and regulators can harmonise reporting, validate data quality, aggregate transactions and analyse risks across the global financial system.
According to David Newman, Chair of the
- 08/06/2015
Hedge funds posted gains for the fourth consecutive month in May, led by Equity Hedge strategies, with significant contributions from Technology, Healthcare and Fundamental Value exposures, according to the latest data from HFR.
The HFRI Fund Weighted Composite (FWC) Index® advanced +0.7 per cent for the month, bringing YTD gains for the HFRI FWC through May to +3.9 per cent, leading both the S&P 500 and Dow Jones Industrial Average, while the HFRI Fund of Funds Index climbed +1.1 per cent for May and +4.0 per cent YTD.
Hedge fund strategy performance was led by the HFRI Equity Hedge Index,
- 08/06/2015
- 08/06/2015
Natixis has acted as Financial Advisor, Rating Advisor, Mandated Lead Arranger and Co-Hedge Coordinator for the EUR1.4 billion senior debt refinancing of French virtual power plant Exeltium.
The operation was achieved through an innovative financing structure, combining two pari passu tranches :
• a Bank Tranche of EUR1 billion;
• a tailored Institutional Tranche of EUR435 million, secured by Exeltium and bringing together 9 institutional investors.
This refinancing, effective upon drawdown as of 4 June 2015, offers Exeltium a 15-year tenor in line with the project’s duration.
Acting as Financial Advisor, Natixis assisted Exeltium in designing an innovative
- 05/06/2015
Demands and nuances of Annex IV reporting across Europe could lead to a steady adoption of an outsourcing model among PERE fund managers.
Private equity and real estate (PERE) fund managers are having to adjust quickly to life under the AIFMD, specifically in relation to Annex IV transparency reporting. The majority of managers will have gone through their first iteration at the end of January 2015, and depending on the size of assets under management, AIFMs face the prospect of filing on a semi-annual or quarterly basis; this drops to annually if the manager is considered de minimis by running
- 05/06/2015
- 05/06/2015
Cybersecurity issues have existed as long as the internet. What seems to have changed in the last 18 months is not only that the nature of the breaches has become more sophisticated, but also the fact that hedge funds have become a much bigger target.
For fund-of-hedge-fund (FoHF) managers, whose value-add to investors is identifying the best talent to invest with, the issue of cybersecurity and data protection has taken on far greater importance. They have to be fully satisfied that a manager’s IT network is secure, and that best practices are being adopted as far as possible.
“The cybersecurity
- 05/06/2015
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