Latest News
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
A growing number of new hedge funds offered by US-based managers implemented management fee structures that decrease as fund assets grow, according to a new study by Seward & Kissel.
The law firm’s latest annual hedge fund study reveals that hedge fund managers’ are demonstrating heightened sensitivity to the needs of investors, and the related imperative to reign in costs. Of all funds studied, 19% adopted a tiered approach to management fees, stepping down to lower rates as assets in the fund surpass pre-established benchmarks. (Seward & Kissel estimates this figure was less than 10% in 2013.) The tiered management
- 26/02/2015
Man Group has reported an increase in funds under management (FUM) of 35% to USD72.9 billion for the year ended 31 December 2014.
Gross sales were also up by a similar percentage (36%) in 2014 to USD21.9 billion (2013: USD16.1 billion), while redemptions were down 6% to USD18.6 billion (2013: USD19.7 billion).
Manny Roman, Chief Executive Officer of Man, says: “2014 marked a year of progress for the Group with strong performance at AHL, a full year of net inflows, the completion of the restructuring programme ahead of schedule and several key acquisitions and hires that have materially enhanced our
- 26/02/2015
- 26/02/2015
Value Partners Group has selected The Charles River Investment Management Solution (Charles River IMS) for portfolio management, trading, compliance, and performance measurement and attribution.
Users will have a single, integrated platform to support investment management activities across the firm’s equities, fixed income, FX, and derivatives operations. Value Partners will also leverage Charles River’s day-to-day application management, compliance rule advisory service, and the broker-neutral Charles River Network for global electronic trading via FIX.
Value Partners will serve as a Charles River development partner, providing valuable feedback on local and regional requirements, such as Domestic Chinese A-shares and related derivatives.
“With Charles
- 25/02/2015
Eze Castle Integration has launched its Hedge Fund Cybersecurity Educational Series to guide the hedge fund industry through the complex cybersecurity environment.
Core to the initiative is an online Hedge Fund Cybersecurity Information Center and a series of educational events.
The Information Center features videos, guidebooks and articles on the latest cybersecurity risks and best practices for implementing a proactive security posture.
To support the online information, Eze Castle Integration is hosting online and in-person events. The first event – a webinar took place 24 February, when Steve Schoener, SVP of client technology at Eze Castle Integration, discussed key insights
- 25/02/2015
By Jasper Lawler, Market Analyst, CMC Markets – In a week that sees reports from major mining companies including BHP Billiton and Vale, Jasper Lawler looks at the outlook for copper given the recent sharp decline in prices and the action taken by the Chinese central bank.
Copper rebounded from five and a half year lows in February on the back of new stimulus measures in China and a bounce back in oil prices. In the first week of February copper recorded its biggest weekly gain since August but the price has flat-lined since on reduced Chinese demand in the
- 25/02/2015
BATS Global Markets’ (BATS) President Chris Concannon is to be appointed to the additional role of chief executive officer, effective 31 March31, 2015.
Concannon arrived at BATS as president in December 2014 with nearly 20 years of experience as an exchange executive, regulator and industry participant, and played a major role in the Hotspot FX acquisition announced January 16, 2015.
Joe Ratterman will now assume the role of chairman of the BATS board, replacing Paul Atkins.
Ratterman, who led BATS as CEO for the past eight years, will remain closely involved at the company going forward, while also facilitating
- 25/02/2015
Once again, Global Prime Partners and Bougeville Consulting joined forces to prepare this third annual survey for Hedgeweek. We spent the back end of last year compiling and analysing feedback, thoughts and remarks gathered from the world of hedge fund investors, with a view to anticipating trends in the demand for hedge fund products.
We are aware of existing surveys, many of which we have seen, and we have decided to complement, rather than compete with, them: not only does this differentiate our output; it also ensures that:
Clients at an early stage of their business developments – and who
- 25/02/2015
Offshore law firm Carey Olsen has expanded its global litigation offering with the launch of its British Virgin Islands (BVI) litigation and insolvency practice.
The firm established its BVI office in 2013 with an initial focus on international commercial transactions, investment funds and offshore structures.
The firm's new litigation practice will be under the leadership of experienced BVI solicitor advocate Ben Mays (pictured), who joins the firm as partner and head of BVI litigation.
Mays says: "Carey Olsen is a well-recognised and respected firm which has already demonstrated its commitment to the BVI market. Developing its BVI litigation practice
- 25/02/2015
- 25/02/2015
By Jasper Lawler, Market Analyst, CMC Markets – In a week that sees reports from major mining companies including BHP Billiton and Vale, Jasper Lawler looks at the outlook for copper given the recent sharp decline in prices and the action taken by the Chinese central bank.
Copper rebounded from five and a half year lows in February on the back of new stimulus measures in China and a bounce back in oil prices. In the first week of February copper recorded its biggest weekly gain since August but the price has flat-lined since on reduced Chinese demand in the
- 25/02/2015
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