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Ray Iler, former regional leader of Deloitte's hedge fund practice on the West Coast, has joined the Financial Services Organization's Wealth & Asset Management practice of Ernst & Young.
Iler, who also served as the lead of Deloitte's Emerging Manager Platform, will provide professional services to EY's hedge fund, private equity and venture capital clients. Iler was also the audit lead for Deloitte's Growth Enterprise Services team in San Francisco.
"We are extremely pleased to welcome Ray to EY as he is a highly-respected leader in the asset management industry," says Mike Serota, a Partner with Ernst & Young LLP
- 27/02/2015
- 27/02/2015
Jay Novatney, a 14-year veteran of the alternative investment industry, will be joining PT Asset Management (PTAM) as Chief Operating Officer on 2 March, 2015.
Novatney will join the firm as part of the executive management team, responsible for the oversight of PTAM’s back office function including operations, finance, and accounting as well as coordination of the firm’s legal and compliance functions.
Prior to joining PTAM, Novatney spent over nine years as a principal of Chicago Fundamental Investment Partners, LLC (CFIP), a credit-focused alternative investment management firm, after having co-founded the firm in late 2005. During his tenure at CFIP,
- 27/02/2015
- 27/02/2015
The sixth edition of the Hedgeweek Awards, presented today in London's Mayfair and sponsored by Morgan Stanley, brought together the leading names in the global hedge funds industry to celebrate the achievements of the best performing managers and service providers in 2014.
The awards were determined by the votes of Hedgeweek's subscribers, who include institutional investors, wealth managers, fund managers and other industry professionals at firms including fund administrators, prime brokers, custodians, law firms, custodians and advisers.
The winners of the Hedgeweek Awards 2015 are:
Best Macro Fund – Omni Macro Fund
Best Event Driven Merger Arbitrage Fund – Paulson
- 27/02/2015
- 27/02/2015
Over half of investors in each alternative asset class feel improvements in the alignment of interests between investors and fund managers can be made by focusing on management fees.
The majority of institutional investors that were interviewed by Preqin at the end of 2014 believe that more needs to be done with regards to the management fees they pay on alternative assets fund investments. Of the five major alternative asset classes – private equity, hedge funds, real estate, infrastructure and private debt – investors named management fees as the area that needed the most improvement with regards to alignment of
- 27/02/2015
London Stock Exchange Group (LSEG) has entered into a licensing agreement with CBOE Holdings, to develop and list options based on more than two dozen FTSE and Russell indices.
Under the agreement, cash-settled options on these indices will now be available to trade in the United States on the Chicago Board Options Exchange (CBOE). In addition, as part of the agreement, CBOE and LSEG will collaborate on new index options products and investor education globally. The trading in FTSE and Russell index-based options on the CBOE will begin in the coming months.
LSEG’s leading global index franchises, FTSE and
- 27/02/2015
At the end of 2014, Preqin conducted surveys with hedge fund managers, investors and alternatives investment consultants around the world to ascertain their views on the hedge fund industry over the past year and their outlook for the year ahead. Selina Sy looks at the upcoming trends and developments these industry professionals have identified for hedge funds in 2015.
Institutional investor capital will continue to flow into the hedge fund industry in 2015
Hedge fund managers forecast that industry assets under management (AUM) are set to increase this year, and surpass the figure of $3.02tn reported in December 2014. Indeed,
- 26/02/2015
- 26/02/2015
Former Amstrong Investment Managers COO and Newedge top executive, Vincent TOURNANT, has joined Advisors & Partners LLP in London as managing partner.
A prime brokerage veteran, Mr Tournant will be based in London and brings 20 years experience in financial markets and investment management industries.
Most recently working for discretionary global macro manager Armstrong Investment Managers LLP as COO and Risk Manager, Tournant was previously Prime Brokerage Global Head of Origination and Structuring of then Société Générale & Crédit Agricole co‐owned Newedge Group. Commenting,
Philippe Teilhard de Chardin, Chief Executive Officer of Advisors & Partners LLP, says: “Mr Tournant brings
- 26/02/2015
Advent Capital Management is to launch a new UCITS regulated umbrella fund domiciled in Ireland, which will include the Advent Global Absolute Return Strategy, during the second quarter of 2015.
The UCITS fund marks the first alternatives product in Advent’s UCITS offerings and is an extension of Advent’s successful Global Opportunity Strategy. It will be co-managed by portfolio managers Odell Lambroza and Matthew Dundon.
Advent has built a seven-year track record in its global opportunities, relative value and event-driven focused hedge fund, positioning the Global Absolute Return Strategy to invest in similar opportunities across geographies, while complying with the UCITS
- 26/02/2015
PCCs can be used for a wide variety of fund and non-fund structures within the investment world, writes Joe Truelove (pictured), Head of Fund Services at Carey Group.
The protected cell company has come a long way since its creation in Guernsey in 1997 as a vehicle designed for use in the captive insurance industry.
The concept underpinning the structure is that the protected cell company is one separate legal entity within which there are a series of pools of segregated assets and liabilities. Apart from the cells there is also a core which is responsible for the management of
- 26/02/2015
The Financial Conduct Authority (FCA) has fined Aviva Investors Global Services (Aviva Investors) GBP17,607,000 for systems and controls failings that meant it failed to manage conflicts of interest fairly.
These weaknesses led to compensation of GBP132,000,000 being paid to ensure that none of the funds Aviva Investors managed was adversely impacted.
Georgina Philippou, Acting Director of Enforcement and Market Oversight at the FCA, says: “Ensuring that conflicts of interest are properly managed is central to the relationship of trust that must exist between asset managers and their customers. It is also a fundamental regulatory requirement. This case serves as an
- 26/02/2015
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