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Permal is one of the first fund managers to take advantage of the new Irish Collective Asset management Vehicle or ICAV structure, with plans to use it to bring up to USD4bn of assets onshore.
Under the new legislation, which became law on 4 March, funds that are already regulated under the UCITs structure or the Alternative Investment Fund Managers Directive (AIFMD) can take the ICAV route to onshore regulation in Ireland. Permal can now market funds across Europe with the new structure.
Over the next several months, Permal expects to move approximately 30 accounts, totalling approximately USD4 billion,
- 09/03/2015
The dissident voice of the outspoken shareholder activist may have grown slightly louder in February, as Event Driven hedge funds led a strong month of hedge fund industry gains, with the HFRI ED: Activist Index posting the strongest monthly gain in two years.
Overall, the HFRI Fund Weighted Composite Index® posted a gain of +1.85 per cent for the month, the best performance for the broad-based composite since February 2014, with gains across all strategies led by Event Driven, Equity Hedge and a recovery in Energy-focused strategies. The HFRI Fund of Hedge Funds Index advanced +1.63 per cent for the
- 09/03/2015
DMS Offshore Investment Services (DMS has been named Best Offshore Regulatory Advisory Firm 2015 in the annual Hedgeweek Global Awards.
DMS was similarly awarded in 2014 in Hedgeweek's Global Awards, and was also recognised as Best Offshore Regulatory Advisory Firm in Hedgeweek's US Awards in New York City.
"DMS is honoured to be recognised again this year for the quality of our service to the global hedge fund industry," says Anne Storie, CEO of DMS. "This endorsement of our work from the readers of Hedgeweek gives us even more impetus to continue to innovate and perform at the highest level
- 06/03/2015
Preqin’s Olivia Harmsworth takes a detailed look at the private real estate market in Germany, including the latest data for closed funds and funds in market, as well as information on investors based in Germany.
Germany-focused fundraising
Preqin’s Real Estate Online service contains detailed information on over 4,400 private real estate funds, including 111 which focus on investments in Germany. Extensive profiles feature detailed information on fundraising and closes held, known investors, performance data and direct contact information for key decision makers. As shown in Fig 1, fundraising for Germany-focused private real estate funds has remained at relatively low levels, declining
- 06/03/2015
- 06/03/2015
Financial services software and software-enabled services provider SS&C GlobeOp has created a new group to support fund administration, accounting and reporting for hybrid fund structures.
The industry continues to witness the convergence of the traditionally separate asset classes of hedge funds and private equity style closed-end funds. More and more funds include fixed income assets such as bank loans and distressed debt held in a private equity structure with a waterfall mechanism and capital calls. Other examples include private investments as part of a hedge fund portfolio strategy or a fund-of-fund investing in private equity investments, and trading in securities
- 06/03/2015
Sandell Asset Management has sponsored the launch of Sandell Re, a Bermuda based reinsurance company that can invest in the firm’s global event driven investment strategy.
The strategy will be managed in a separately managed account with an investment objective substantially similar to Sandell Asset Management’s main hedge funds.
Sandell Re was recently incorporated and licensed as a Class 3A reinsurer by the Bermuda Monetary Authority (BMA). Sandell Re was sponsored by Sandell Asset Management Corp (SAMC) of New York, NY. SAMC, through an investment management agreement, will manage the assets of Sandell Re using the firm’s global event driven
- 06/03/2015
Members of the New York Hedge Fund Roundtable, a non-profit industry organisation committed to promoting ethics and best practices in the alternative investment industry, believe oil prices will remain steady for the rest of 2015.
Questions about oil and energy were posed to members at the Roundtable’s February event, “Global Implications of the Current Energy Environment.”
More than a third of members polled stated that the price of a barrel of crude oil would be in the USD50 – USD60 range by the end of 2015; approximately 22% of members forecast that the per barrel price would be USD40
- 06/03/2015
Guy Hands (pictured), Chairman and Chief Investment Officer of Terra Firma Capital Partners Limited, will be the keynote speaker at the Guernsey Funds Forum 2015.
The Guernsey resident and private equity specialist will top the bill for the annual event, which this year is titled ‘Achieving stability in a world of change’ and takes place on Thursday 14 May in London.
Dominic Wheatley, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, said he was delighted that Mr Hands will be speaking at the forum.
“Guy has been a huge supporter of Guernsey’s fund industry
- 05/03/2015
Asian debt is expected to outperform developed market bonds in 2015, thanks to healthy corporate credit dynamics, supportive global liquidity, stable economic and political environments and investors’ demand for yield.
Joep Huntjens, Head of Asian Debt at ING IM, says: “Although the anticipated rise in US interest rates may present a challenge for Asian bonds, the Federal Reserve is still only likely to remove its zero-rate monetary policy gradually. Furthermore, the impact of this will be outweighed by the spread cushion offered by Asian credit/high yield and the additional yield offered by the region’s local currency bonds.”
ING Investment Management
- 05/03/2015
Powernext members will have the opportunity from 19 March to directly register their over-the-counter (OTC) transactions as exchange transactions for subsequent clearing with European Commodity Clearing (ECC).
Customers can use either Trayport Clearing Link or EFETnet eXRP Straight-Through Processing automated solutions.
Jean-François CONIL-LACOSTE, Chief Executive Officer of Powernext, says: “This new and straight-forward solution for clearing over-the-counter transactions will answer the need of market participants for automated and riskless processes. Through this mechanism, it will be possible to automatically route transactions submitted by a broker through the exchange into the trading participant’s account at ECC, eliminating all manual interventions by
- 05/03/2015
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