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For London-based managers who are still trying to get their heads around the various machinations of the AIFMD, and where best to set up an EU-regulated fund, help is on its way.
On 11 June 2015, at Malta House in Piccadilly, home of the Maltese High Commission, a special event hosted by the Malta Business Network will give investment managers an insight into the benefits of setting up an AIFMD-regulated fund in Malta.
Its timing is rather fortuitous given the continued level of growth in Malta’s funds industry. For managers, especially start-ups, tomorrow’s event will provide the perfect opportunity to get
- 10/06/2015
Pekin Singer Strauss Asset Management, investment advisor to Appleseed Fund and high-net-worth individuals, is supporting Sprott Asset Management’s offer to acquire all outstanding units of Central GoldTrust (GTU).
“As Central GoldTrust’s largest unitholder, we’re disappointed that the GTU trustees have so quickly dismissed the Sprott offer,” says Adam Strauss, Pekin Singer Strauss co-CEO. “Not only is Sprott’s exchange offer superior to the status quo, it already has significantly reduced Central GoldTrust’s net asset value discount as others in the market have recognised its value. We expect the discount will be reduced further when GTU’s physical gold assets are exchanged into
- 10/06/2015
Under AIFMD, alternative investment fund managers (AIFMs) looking to market their funds within the EU, Switzerland, and EFTA countries need to obtain and maintain an “EU Passport”.
As such, the AIFMs are required to register themselves and their managed funds and submit ongoing reports in order to comply with the directives to their local regulators.
In light of the reporting challenges, SIX Financial Information is providing the AIFMD relevant fund managers and funds data via its flagship reference data feed, VDF. SIX’s securities data enables AIFMs to calculate the correct asset values for the registration and reports to the supervisory
- 10/06/2015
- 10/06/2015
The Swiss banking group SYZ has appointed Katia Coudray as CEO of SYZ Asset Management, the institutional asset management division of the SYZ Group, which manages the OYSTER Funds range amongst other mandates.
As CEO, she will also be a member of the Group's Executive Committee. After joining SYZ in 2011 as Head of Product Development, Katia Coudray was subsequently Head of Investment at SYZ Asset Management. In addition, Florent Guy-Ducrot is joining SYZ Asset Management as Head of Business Development, replacing Xavier Guillon.
Before joining SYZ in 2011, Katia Coudray worked for ten years at Union Bancaire Privée
- 10/06/2015
By James Williams – Private equity has never been synonymous with the word liquidity when it comes to investing in alternative assets, but a new report by SEI’s Investment Manager Services division suggests that this may be changing.
The report, entitled “Private Equity Liquidity – A Work in Progress”, finds that nearly half of general partners (47 per cent) and a third of limited partners (36 per cent) and consultants (33 per cent) agreed that the private equity market was “more liquid than it used to be”. For reference, SEI surveyed 212 private equity professionals during November 2014 to canvass
- 10/06/2015
On Wednesday 22 April, the House of Representatives passed a new cybersecurity bill – the Protecting Cyber Networks Act (PCNA) – to allow file sharing between government intelligence agencies and private companies and raise the overall awareness of hacking.
This is just the latest chapter in what is fast becoming a key narrative within the US, where cybersecurity legislation is being rolled out to address the growing sophistication of cyber attacks.
Hedge funds are now becoming a more pronounced target and to that end, lawyers are requiring to get on top of the issues to advise their clients accordingly. Ed
- 10/06/2015
- 10/06/2015
The Lyxor Hedge Fund Index was up +1.2 per cent in May. 10 out of 12 Lyxor Indices ended the month in positive territory, led by the Lyxor Fixed Income Arbitrage Index, the Lyxor LS Equity Long Bias Index, and the Lyxor Global Macro Index (all up +1.9 per cent).
Most strategies delivered positive returns in May to the exception of CTAs taking a hit from the macro rotation which started in April. Put in perspective, for most of Q1, markets priced in a strong US economic lead giving support to non-US reflations. Resurfacing global growth concerns triggered multiple reversals
- 10/06/2015
Wilshire Funds Management has named Nicolas “Nico” Amato as managing director, head of Alternative Portfolio Management.
Amato will report to Wilshire Funds Management Chief Investment Officer Josh Emanuel. Previously, he spent ten years at Dorchester Capital Advisors, a Los Angeles-based alternatives investment manager.
Amato will direct all investment aspects of Wilshire Funds Management’s alternatives activities, including portfolio construction, manager research and investment research. Wilshire Funds Management oversees multi-asset class, multi-manager and alternative investment programs for financial intermediaries and advises on more than USD147 billion of client assets.
“Nico’s 17 years of experience, most of that focused on alternative investments, will
- 10/06/2015
Coherence Capital Partners, a fixed income focused alternative investment firm, and James Alpha Management, a diversified alternative asset management firm, have entered into a strategic partnership to exclusively distribute Coherence’s flagship Spectrum Fund.
The Spectrum Fund is a long/short alternative investment vehicle predominantly focused on North American and European corporate and sovereign debt exposures. James Alpha will be making a principal investment in the Spectrum Fund as well as focusing on distributing the Fund through its substantial investor network. James Alpha, well known for its ability to identify the top performing emerging managers in the alternative space, and Coherence Capital
- 10/06/2015
The hedge fund industry took in USD950 million (0.04 per cent of assets) in April, reversing March’s outflow of USD750 million (0.03 per cent of assets), according to BarclayHedge and TrimTabs Investment Research.
“Investors have been showing less interest in hedge funds even though the industry’s performance has improved lately," says Sol Waksman, president and founder of BarclayHedge. “Hedge funds redeemed USD13.8 billion in the first four months of 2015, a strong turnabout from the same period last year, when they hauled in USD65.6 billion.”
Hedge fund industry assets edged down to USD2.49 trillion in April from USD2.50 trillion the
- 10/06/2015
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