Latest News
Nomura has made two new hires into its prime finance business, which encompasses equity financing, prime services and Delta 1.
Massimo Labella has joined as head of directional Delta One sales. He previously spent 12 years at JP Morgan, focusing on flow equity derivatives and Delta 1 products.
Babita Ittoo has joined as a vice president, and will focus on client origination in EMEA. She previously spent 10 years at Goldman Sachs, focusing on the prime brokerage hedge fund client base.
Both will be based in London, and will report to Phil Morgan, head of prime finance sales,
- 01/10/2014
- 01/10/2014
Abacus Group has launched the Abacus Client Portal to give its hedge fund and private equity fund clients greater control and transparency into AbacusFLEX services.
The new service allows clients to quickly access informative data for resources being used for each subscribed service, customise monitoring and alerts, and easily communicate with Abacus Group.
Developed based on customer feedback, the Abacus Client Portal is specifically designed to help investment firms gain full visibility into Abacus private cloud environments. The authorised users from each client can drill down into multiple aspects of their Abacus private cloud to view individual user accounts,
- 01/10/2014
The US Commodity Futures Trading Commission (CFTC) has signed a memorandum of understanding (MoU) with the Australian Securities and Investments Commission (ASIC) on the supervision of cross-border entities.
The two regulatory organisations are to cooperate on the supervision and oversight of regulated entities that operate on a cross-border basis in the US and in Australia.
The scope of the MOU includes markets and organised trading platforms, trade repositories, and intermediaries, dealers, and other market participants.
- 01/10/2014
SS&C Technologies has hired Stewart Bent to manage SS&C GlobeOp’s fund administration business in Asia.
Based in Hong Kong, Bent will report to Nandini Sankar, managing director and head of SS&C’s alternatives business for the Asia Pacific region.
“We are pleased Stewart has joined our growing team. He brings more than 20 years of experience and deep expertise both in the alternatives industry and within the region,” says Sankar. “We service a wide array of asset and fund managers, from independents to institutions. With a broad background in those markets, Stewart is charged with growing the business as well
- 01/10/2014
Pictet Select-Global Long/Short Equity has attracted close to EUR200 million in commitments since its launch on 29 August 2014.
The fund, which is managed by Geneva based Pictet Alternative Advisors (PAA), will be initially offered via a selection of ABN AMRO’s international private banking distribution channels.
Pictet Select-Global Long/Short Equity invests in 10 to 15 UCITS-compliant hedge funds within long/short equity and event-driven strategies. The portfolio has a weekly liquidity and is purposely diversified across sectors, regions and management styles to achieve efficient exposure to equity markets. The portfolio allows investors to participate in equity market upside while limiting
- 01/10/2014
Gottex Fund Management, an independent provider of alternative, multi-asset and Asian investment solutions for institutional and retail investors, has completed its merger with EIM Group.
A total of 14 million shares have been listed on SIX Swiss Stock exchange as of 30 September 2014.
- 01/10/2014
- 01/10/2014
SEI’s Holly Miller (pictured) and Ross Ellis explain the core tenets of establishing a successful middle office…
A survey published by Deutsche Bank in September 2014, entitled From Alternatives to Mainstream Part Two, found that the US alternative mutual fund industry has experienced 38 per cent annualized growth since 2008. The survey predicts that it has the potential to become 6 per cent of the USD15tn US mutual fund industry by 2019; total assets exceeded USD300bn in May 2014.
There are many factors driving convergence between traditional and alternative fund managers; key among them is investor demand for regulated, transparent
- 30/09/2014
- 30/09/2014
The US Commodity Futures Trading Commission (CFTC) has issued an extension to no-action letter 13-86 which provided time-limited relief relating to certain CDS clearing-related swaps.
This no-action letter provides the following relief (in each case subject to certain specified conditions):
• The Division will not recommend that the Commission take enforcement action against a DCO for failure to register as a swaps execution facility (SEF) pursuant to CFTC Regulation 37.3;
• The Division will not recommend that the Commission commence an enforcement action against any DCO clearing member for entering into a swap through the DCO’s CDS Settlement
- 30/09/2014
Hedge funds are beginning to take advantage of new communications channels one year after the enactment of the JOBS Act, according to a Peppercomm study.
"The JOBS Act is working by removing grey areas surrounding hedge fund communications and enabling more active engagement," says Thomas Walek, president of WalekPeppercomm, a communications firm serving the hedge fund sector. "This new regulatory environment is one piece of a larger trend as hedge funds explore new communications strategies and tools in response to intense competitive pressures, new products like liquid alternatives, and client demands for relationships built on more than performance numbers."
- 30/09/2014
GBST has worked with Omgeo to develop and certify its Syn~ application with Omgeo’s Central Trade Manager (CTM).
The next generation GBST Syn~ application, an adaptable, workflow driven and easily integrated, rules-based solution, now provides clients with Omgeo CTM connectivity, providing an automated solution for the central matching of cross-border and domestic transactions.
Market participants are increasingly under pressure to lower costs and increase operational efficiency in today’s challenging economic environment. By pairing Omgeo CTM with GBST Syn~’s powerful workflow capabilities, clients can increase same-day affirmation rates, reduce costly manual intervention, and minimise exceptions and user intervention, even for
- 30/09/2014
- 30/09/2014
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