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'40 Act funds are only part of the liquid alternatives narrative, says Michael Bernstein of Lyxor Asset Management…
Firstly, Europe's alternative UCITS market has been growing year-on-year for the past six years. Secondly, leading managed account platform providers such as Lyxor Asset Management have been offering liquid alternatives to institutional investors since 1998.
Michael Bernstein
Head of N. American Business Development
Kunjal Shah
Senior investment professional
This is not a new phenomenon. And nor is it reserved exclusively for '40 Act funds. That said, given the size and importance of the US financial markets, it's understandable that the opportunity for retail
- 23/12/2014
- 23/12/2014
The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against FCM Deutsche Bank Securities Inc) (DBSI) is to pay a USD 3 million civil penalty to settle CFTC charges relating to failures to properly invest customer segregated funds, prepare and file accurate financial reports, maintain required books and records, and related supervisory failures.
None of the violations resulted in any customer losses, according to a CFTC Order. DBSI is an indirect, wholly-owned subsidiary of the parent company, Deutsche Bank AG.
Specifically, the CFTC’s Order finds that, for the period 18 June, 2012 through 15
- 23/12/2014
- 23/12/2014
Friday, 19 December 2014 was Euronext’s most active day in terms of trading in 2014 and the most active day on its market since March 2011.
Some EUR15.986 billion was traded across all its cash products: equities; ETFs; warrants and certificates; and bonds.
Danielle Ballardie, Head of Cash Markets at Euronext, says: “We are delighted to see our cash markets producing such strong trading figures. This demonstrates the positive impact of the reinvigoration of Euronext's cash business during 2014. We will continue to optimize our business in 2015 and drive real innovation through consultation with members to offer
- 23/12/2014
- 23/12/2014
The Financial Industry Regulatory Authority (FINRA is to perform the majority of the The Chicago Board Options Exchange (CBOE) and C2 Options Exchanges’ (C2) regulatory services.
Additionally, CBOE entered into a separate agreement with FINRA, under which CBOE will assign to FINRA its responsibility to perform regulatory services for the Options Regulatory Surveillance Authority (ORSA), the central organisation facilitating collaboration in insider trading surveillance and investigations for all US options exchanges.
FINRA will begin to perform all of these services on 1 January, 2015.
Regulation of CBOE Futures Exchange (CFE®) will continue to be provided by CFE Regulatory Services staff.
- 23/12/2014
In the last full trading week of the year, the closing of the books was crudely interrupted by a crossover from chaos in the energy markets, accompanied by a total collapse in the Russian Rouble, says Tim Edwards, Index Investment Strategy, S&P Dow Jones Indices…
The VIX closed on 17 December at 19.4, helped on its way down (from Tuesday’s high of 24) by the measured and patient comments issued yesterday by the US Federal Reserve.
All of our global equity volatility measures are up, but their increases pale in comparison to their equivalents in the oil markets. At
- 22/12/2014
- 22/12/2014
HS Group has made its second investment, in a hedge fund to be founded by Christopher Lee and Burke Lau.
Lee was previously Head of BlackRock's Scientific Active Equity department in Hong Kong and serves on the Investment Board of BlackRock's award nominated Pan Asia Opportunities Fund, while Lau, was formerly Head of Asia & Japan Quant Research at Macquarie Securities.
The duo will be joined by a team of research and programming professionals with several decades of combined systematic investment experience in Asia, and on the business side will be led by Michael Friedlander who was formerly Head of
- 22/12/2014
There will winners and losers in 2015 as the wealth and asset management tackles regulatory change and a number of other challenges, says Ernst & Young (EY).
According to the firm’s outlook for next year, regulatory-driven change will see remuneration bite the hedge fund industry, while asset managers will need to learn to deal with unfixed product profiles as annuities change the model.
In addition, EY believes that 2015 will see a new wave of technology spend on the front office as asset managers compete to chase growth.
Gill Lofts, UK Head of Wealth and Asset Management at EY says:
- 22/12/2014
The Royal Bank of Canada (RBC) is to pay a USD35 million penalty for engaging in more than 1,000 illegal wash sales, fictitious sales, and noncompetitive transactions over a three-year period.
US Commodity Futures Trading Commission (CFTC) Director of Enforcement Aitan Goelman says: “Illegal wash trades may seem innocuous. They are not. They provide misleading signals to the market and are thus prohibited, whether their purpose is to lessen a foreign tax bill or another reason. This matter clearly demonstrates that the CFTC will vigorously enforce this prohibition to protect the integrity of our markets.”
The CFTC originally filed
- 22/12/2014
The SS&C GlobeOp Forward Redemption Indicator for December 2014 measured 5.87%, up from 5.05% in November.
“In line with other year-end averages, December forward redemptions represented a 12 month-high, with the bulk of activity falling in the under 1 month category,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp
- 19/12/2014
By Chris Humphries, Managing Director, Stuarts Walker Hersant, Attorneys-at-Law – The Cayman Islands continues to be the leading offshore jurisdiction for mutual funds and hedge funds. Its position as the premier jurisdiction is as a result of innovative legislation and the absence of taxation together with the presence of sophisticated and professional service providers and a favourable regulatory environment.
The Cayman Islands offers:
• A straightforward fund registration procedure.
• A flexible investment fund regime within a clear and effective regulatory environment.
• Experienced legal, administrative and accounting service providers.
• No requirement to have Cayman Islands based directors or
- 19/12/2014
- 19/12/2014
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