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La Française Group has obtained AIFM approval for all its management companies.
By capitalising on its experience in the registration of UCITS funds internationally and now its AIFM status, the La Française Group is able to extend its services across Europe.
The following Group management companies have obtained AIFM approval:
– La Française AM International (LFI)
– La Française Investment Solutions LFIS
– La Française REM
– La Française des Placements
– La Française Inflection Point
– New Alpha AM
As Alternative Investment Fund (AIF) managers, the companies will be able to manage AIFs in an EU member
- 22/07/2014
Alain Demarolle has been appointed as non-executive chairman of the board directors of LCH.Clearnet SA, the group's French-based entity, effective immediately.
Patrick Combes announced in May 2014 that he would step down as director and the chairman of the board directors of LCH.Clearnet SA. Aigrain remains chairman of LCH.Clearnet Group.
Aigrain says: "I would like to thank Patrick Combes for his unwavering support and dedication to LCH.Clearnet. We are indebted to Patrick for navigating the firm through a period of significant regulatory change, including the successful authorisation of LCH.Clearnet SA as a CCP under EMIR. On behalf the board
- 22/07/2014
Carne Group, a provider of governance and oversight services for asset managers, has opened a new office in the Channel Islands.
Joining Carne as managing director responsible for the Channel Islands is Mark Hodgson, who will be available immediately to serve as an independent director on Jersey and Guernsey fund boards.
Hodgson is a highly experienced funds professional and has been resident in Jersey for over eight years. He has spent over 25 years in the financial services industry, including as a senior executive with HSBC in the UK and Jersey. He joins Carne from Capita, where he was
- 22/07/2014
World Cup success has been accompanied by positive equity market performance since last Sunday’s final for nearly all of the four top finishers as reflected by Russell Index country constituent returns.
World Cup victor Germany’s equity market increased 1.8 per cent, as measured by the Germany country constituent of the Russell Global Index, in the first three trading days of this week, after losing (-1.8 per cent) during the tournament from 12 June to 13 July.
Third place finisher The Netherlands also reversed a negative performance of (-0.4 per cent), as measured by the Netherlands country constituent of the
- 22/07/2014
All managed futures indices calculated by Newedge showed positive returns for the month of June with trend followers leading the pack with a return of +1.25 per cent.
The Newedge CTA index is back to positive territory YTD returning +1.06 per cent, rising +0.48 per cent in the month of June.
Using attribution data from the Newedge Trend Indicator, currencies were the best performing sector, contributing +2.68 per cent at the portfolio level and bringing YTD performance in the sector to +1.99 per cent.
Bonds also contributed to the positive June gaining +0.66 per cent, while commodities continued
- 21/07/2014
Societe Generale Securities Services (SGSS) has appointed David Painter as head of trustee and depositary services in the UK.
Based in London, he reports to Bertrand Blanchard, SGSS’ country manager in the UK, and to Michèle Besse, global head of depositary control.
Painter will play a key role in launching and managing trustee and depositary services in the UK for a broad range of investment funds, including UCITS and alternative funds, and actively help develop a range of integrated client solutions.
SGSS’ full range of trustee and depositary services will include asset safekeeping, cash monitoring and oversight duties.
- 21/07/2014
Arnaud Claudon, head of depositary banking, BNP Paribas Securities Services, says AIFMD will bring ‘greater stability’ to European alternatives market…
We have everything in place for the transition to AIFMD and welcome the new regulation coming into effect. We have our depositary licences where needed for example in the UK, and our operations are prepared and ready to go across our depositary network in Europe.
The regulation brings greater stability to the European alternatives market and further protection for end investors. We are pleased to be able to serve new and existing customers from around the world under the
- 21/07/2014
- 21/07/2014
There is a compliance shortfall among alternative investment funds (AIFs) on the eve of the deadline for Alternative Investment Fund Managers Directive (AIFMD) authorisation, according to research by BNY Mellon.
While 82 per cent of managers canvassed confirmed the required AIFM structure has been established to meet tomorrow’s July 22 deadline, 44 per cent will not have received authorisation from their local regulator by that date.
The survey highlights that a significant proportion of managers will have work left to complete in respect of key elements of the AIFMD regulations. For example, 31 per cent still need to implement
- 21/07/2014
The National Futures Association (NFA) has ordered Forex Capital Markets (FXCM), a registered retail foreign exchange dealer located in New York City, to pay a USD200,000 fine.
NFA issued the fine to FXCM for conducting business with an unregistered entity that was required to be registered with the CFTC as a commodity pool operator (CPO) and an NFA member, and for failing to submit trade data to NFA through NFA's Forex Transaction Reporting Execution Surveillance System (FORTRESS).
The Decision, issued by NFA's Business Conduct Committee, is based on a complaint and a settlement offer submitted by FXCM.
The
- 21/07/2014
Two thirds (64 per cent) of funds are ready for the deadline for implementation of the Alternative Investment Fund Managers Directive (AIFMD) on 22 July, according to a global survey of alternative investment fund managers.
Only one in six (15 per cent) admitted they were not ready, with the remainder (20 per cent) planning other routes including phasing in compliance by 2018.
According to the survey, commissioned by Hassans International and Deloitte Gibraltar, more than half of the fund managers surveyed (55 per cent) said that the ability to continue to market funds in Europe over the next three
- 21/07/2014
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