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Source this week announced the listing of the Source EURO STOXX Optimised Banks UCITS ETF on the London Stock Exchange. The fund provides exposure to banks within the Eurozone and is optimised to reduce exposure to illiquid stocks.
Michael John Lytle, Chief Development Officer, said that the results of the European Central Bank’s Asset Quality Review have shed light on the health of the region’s banks as well as the broader European economy. “For investors who want to increase their exposure to Eurozone banks, this ETF provides the opportunity to gain access quickly and efficiently. It is the second banking
- 03/11/2014
CBOE Holdings' net income allocated to common stockholders was of USD48.1 million, or USD0.57 per diluted share, for the third quarter of 2014, compared with USD41.0 million, or USD0.47 per diluted share, in Q3 2013.
Operating revenue for the quarter was USD148.9 million, up nine per cent compared with USD136.7 million in the third quarter of 2013.
There were no non-GAAP adjustments for the third quarter of 2014 or 2013.
"Our strong third-quarter results reflect improved trading volume both sequentially and year-over-year across each of our product categories, as more normal levels of volatility returned to the market,"
- 03/11/2014
Hedge fund law firm Kleinberg, Kaplan, Wolff & Cohen has appointed Jared R Gianatasio as senior counsel where he will focus his practice on investment funds and derivatives.
He was previously a senior associate in the New York office of Shearman & Sterling where he practiced in the firm’s derivatives and investment funds practice.
Gianatasio follows the arrival, in August, of Joseph Iskowitz to the firm’s hedge fund practice.
Gianatasio has extensive experience representing market participants in the structuring and documentation of complex over-the-counter and exchange-traded derivatives transactions.
This includes developing, drafting and negotiating highly structured derivative
- 03/11/2014
- 03/11/2014
With lower expectations for traditional assets, many institutional investors have increased their allocation to more flexible, alternative assets to secure both performance and diversification for their portfolios. As a result, hedge funds are now growing faster than any other types of assets.
Multi Hedge-Funds bring a combination of expertise to meet investor transparency requirements and optimize the risk-return ratio. It makes it easier to access a range of strategies adapted to volatile market context, which are often too complex to analyze and select directly.
Sources of performance can be better identified, with a more precise and detailed view over
- 01/11/2014
NewSmith Asset Management has appointed Michael Wahnich as head of risk.
This follows Charles Hopkinson Woolley’s recent appointment as head of alternatives and product, and Guy Jackson as head of compliance.
Wahnich joined from International Asset Management where he was head of risk. He has extensive risk experience including at Brevan Howard, from 2006 to 2012, where he oversaw equity and systematic trading.
Jackson joins from Nutmeg where he was compliance officer and money laundering reporting officer. He has previously held head of compliance positions at Rexiter Capital Management and Inscape (Santander’s Wealth Management Division).
Chief executive
- 31/10/2014
National Futures Association (NFA) has ordered commodity pool operator Belvedere Asset Management to permanently withdraw from NFA membership.
NFA also has ordered the firm's chief executive officer, principal and associated person (AP), Keith D Pagan, to withdraw from NFA membership for a period of five years.
The decision, issued by NFA's Business Conduct Committee, is based on a complaint filed on 30 June 2014 and a settlement offer submitted by Belvedere and Pagan.
The committee found that Belvedere and Pagan failed to reimburse the Belvedere Alternative lncome Fund (BELIX), a commodity pool that Belvedere operated, for excess expenses
- 31/10/2014
Bloomberg’s multi-asset swap execution facility, Bloomberg SEF LLC, has launched a List trading tool for Interest Rate Swaps (IRS).
The new List tool enables market participants to improve operational efficiency by creating and sending a “basket” of swaps that can be traded at a single price using Bloomberg SEF’s request for quote (RFQ) functionality.
Bloomberg’s swaps analytics coupled with Bloomberg SEF's liquidity provide the first market solution for participants that wish to perform advanced portfolio valuation prior to execution.
The List tool also allows clients to offset cleared risk, which reduces the number of existing trades and overall capital
- 31/10/2014
Alter Domus, a provider of fund and corporate services to international private equity and infrastructure houses, real estate firms, multinationals, private clients and private debt managers, has opened an office in Düsseldorf, Germany.
Chief executive Laurent Vanderweyen says: “Expanding our international presence into this important European nation’s financial sector is an exciting development as Alter Domus continually strives to provide its clients with high quality services with an ever-increasing international reach.
“In Germany we have entered into a co-operation with Domus Legal Rechtsanwaltsgesellschaft mbH (Domus Legal), a law firm collaborating with bepartners, Düsseldorf, an independent firm of lawyers and
- 31/10/2014
CedarKnight Partners has appointed Ranjit Atwal to head its investment management operations across the firm's international business.
Located in the firm's new London office on Berkeley Street, Atwal will be overseeing all operational and client reporting matters across a number of jurisdictions where CedarKnight operates and is launching in the very short-term.
In his new role, he will work closely with the CedarKnight management team to support the firm's expansion plans following its recent success with new investment mandates.
Co-founding partner Gilly Uppal says: "Ranjit brings with him a strong institutional background in wealth management and leading operations
- 31/10/2014
Court-appointed receiver John J Carney has received authorisation for a USD264 million distribution plan for the receivership estate of Michael Kenwood Capital Management and related entities.
The plan was approved by the Honorable Janet Bond Arterton of the US District Court for the District of Connecticut on 27 October 2014.
The hedge funds of the Michael Kenwood Group were formerly operated by Francisco Illarramendi who pled guilty to having run the funds as a Ponzi scheme and defrauding investors of hundreds of millions of dollars.
Carney was appointed Receiver by the District Court in February 2011 following an
- 31/10/2014
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