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The introduction of the AIFMD has fuelled strong growth in European fund domiciles, with the number of alternative investment funds increasing by 10% since 2010, and assets under management increasing by 13%.
That’s according to a report published by the Association of the Luxembourg Fund Industry, carried out by Oliver Wyman.
“The introduction of the AIFMD increased the attractiveness of European onshore domiciles,” comments Marc Saluzzi, Chairman of ALFI. “Whilst many were against it when it was first introduced because of the fear of high compliance costs and additional complexity, this piece of regulation has brought significant benefits, allowing
- 26/11/2014
Total hedge funds assets were virtually unchanged in October, decreasing 0.0002%, to USD3.020 trillion, according to eVestment’s latest Hedge Fund Asset Flows Monthly Summary Report.
Performance gains among many large funds accounted for an asset increase, while redemptions outpaced new allocations for an outflow of USD2.9 billion during the month.
The USD2.9 billion outflow in October was the second consecutive month in which investor flows were negative. The industry has not had two consecutive months of net outflow since mid-2012, in the wake of volatility from the European sovereign crisis.
Investor sentiment towards equity strategies was negative for the second
- 26/11/2014
The City of Zurich Pension Fund has chosen Citco to provide administration, custody and related financial services to its USD1.3bn hedge fund portfolios.
The mandate follows a series of other key wins from institutional investors, driven by demand for customised portfolios.
Earlier in the year Baloise Group, a European provider of insurance and pension solutions with CHF54bn of insurance assets, strengthened its long standing relationship with Citco by deploying the ÆXIMO technology for outsourced middle office operations. It allows investors full portfolio planning and dealing, including liquidity reporting, asset allocation breakdown, compliance checks and performance reporting. The custodial system has
- 26/11/2014
Throughout December, Bougeville Consulting will be collecting stationery items from hedge fund clients and contacts within the financial services industry.
This is part of the firm’s seasonal appeal, aiming to bring what it collects – pens, writing paper, old laptops etc – to a charitable association called Aide et Action, which supports Education in Burkina Faso.
Bougeville’s team will fly to Ouagadougou with the donations in January to see how they will be dispatched on the ground.
The firm has formed several partnerships in a bid to collect as many items of stationery as possible and has received generous advice
- 26/11/2014
Financial services technology providers Fund Recs and CloudMargin are offering the first fully integrated, cloud-based collateral management and portfolio reconciliation platform.
This partnership meets the needs of derivatives users looking to improve processing efficiency, minimise risk and meet the regulatory requirement to reconcile portfolios mandated by EMIR.
Fund Recs adds the essential operational control and key collateral dispute resolution tool of portfolio reconciliations, a requirement for regulatory compliance under EMIR, into a single user interface with CloudMargin. CloudMargin offers clients optimised end-to-end collateral management workflow for the full spectrum of margined products such as OTC bilateral and cleared derivatives, futures and
- 26/11/2014
Ahead of OPEC’s next meeting on Thursday 27 November, Graham Martin, Managing Director at Optima Investment Management (Europe) provides his view on the impact discussions around the levels of oil production may have on investors…
It's likely the market is currently pricing in the nervous expectation that OPEC won't agree to cut production. If OPEC announced a co-ordinated cut of 500,000 barrels per day or more we would expect a rally in oil and oil related equities.
While core-OPEC will undoubtedly demand some output reductions from members such as Angola, Nigeria, Venezuela, Qatar, and Algeria, the main cuts will have
- 25/11/2014
The US West Coast is an important region in terms of real estate investment, home to some of the largest institutional investors in the asset class as well as many prominent fund managers. Recent years have seen funds focusing on real estate investment in the West Coast raising increasing amounts of capital, with growing numbers of managers hitting or exceeding their target size.
The West Coast therefore represents a growing source of interest for institutional investors, with funds focusing on West Coast investment accounting for over a third of aggregate US regional-focused capital raised in 2014 so far. Residential property
- 25/11/2014
Convex Capital, the global corporate finance boutique, has promoted Tim Marlow to Partner, with immediate effect.
With his promotion, Marlow, who joined the firm in 2006, will join Neil Worsley, Mike Driver, Chris Froggatt and Nathalie Blake at the head of the Firm.
Marlow will continue to advise entrepreneurs and owner-managed businesses on the sale of their equity across his specialist sectors, including e-commerce, technology and retail.
In 2014, Marlow has worked on a number of high profile clients including the GBP110m sale of electronic cigarette company Nicolite’s to Philip Morris, the largest deal of its type to
- 25/11/2014
- 25/11/2014
RARE, the Australian Infrastructure Investment Manager, has chosen Calastone to automate their global funds transactions.
Calastone’s single-to-many cross border fund service automates the flow from participating platforms and custodians into RARE’s global fund range registered across Australia, US, Canada as well as in the UK, Ireland, Netherlands, Cyprus and Switzerland.
Peter Hermans, European Sales and Business Development Director, says: “We are delighted that RARE has signed up to use Calastone’s global network to transact their funds. We help clients connect to their distributors via the Calastone community utilising our automated messaging service, which provides further efficiency to fund transactions, reducing
- 25/11/2014
SCORPEO has recruited Jack McNally as Managing Director of SCORPEO US, based in the firm’s newly opened US office in Boston and Chris Barrow as Head of Business Development, based in London.
Prior to joining SCORPEO, Jack McNally worked for Lehman Brothers and then Credit Suisse for 11 years in New York, Boston and Zurich, where he was a Managing Director and Global Head of the Managed Securities Lending Business and Head of Prime Services, Switzerland.
Chris Barrow recently joined SCORPEO from HSBC where he was a Managing Director and Global Head of Sales and Marketing for Prime Finance.
- 25/11/2014
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