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Capita Financial Managers (Ireland) Limited has been granted an alternative investment fund manager (AIFM) licence by the Central Bank of Ireland.
The licence authorises Capita to take regulatory responsibility for the funds to which it acts as AIFM.
Capita Financial Managers (Ireland) will provide independent AIFM services to both EU and non-EU funds in the alternative investment market, including hedge and private equity funds, so they are compliant with the Alternative Investment Fund Managers Directive (AIFMD).
AIFMD is an EU directive that came into force on 22 July 2013. It regulates EU and non-EU fund managers that market alternative
- 23/07/2014
Imagine Software has appointed Brendan Quinn as director of sales.
Based in New York, Quinn will oversee sales for Imagine’s New York, London, Hong Kong and Sydney offices.
Scott Sherman, one of Imagine’s founding partners and global head of sales and business development, says: “Brendan brings to Imagine extensive global institutional and technology expertise, and we are excited he has joined our talented team to lead this crucially important role."
Quinn previously served as the head of North American fixed income sales for Thomson Reuters, where he led a team of specialists growing flagship products for the company.
- 23/07/2014
Alternative asset management firm Napier Park Global Capital has returned the last of the capital invested in the firm’s hedge funds by Citigroup.
The staggered USD2.4 billion redemption schedule began in March 2013 when Napier Park completed its spinout from Citi and became majority owned by its employees. As a result, Citi is no longer an investor in any of Napier Park’s hedge funds.
“We are very pleased to have completed the redemption of Citi’s fund investments on schedule and with no meaningful decline in our AUM,” said Jim O’Brien, senior managing partner of Napier Park. “Over the last
- 23/07/2014
Saxo Bank has appointed Alessandro Bressan as global head of equity products.
Saxo’s aim is to build product coverage across all main asset classes to meet the needs of both sophisticated individual investors and its growing institutional client base.
Bressan will be based in London where he will also assume responsibility for UK sales covering European clients as well, reporting to Dennis Malamatinas, global head of regions and global marketing.
He joins Saxo Bank with more than 15 years’ experience in equity sales and trading, most recently at Deutsche Bank where he was global head of dbIntegrate sales,
- 23/07/2014
Since 2008 nearly one-third of European charities have restructured their investment portfolios to increase their exposure to alternative products, according to a survey by Cerulli Associates.
The latest issue of The Cerulli Edge-Global Edition includes the results of a survey of major European charities which, together, hold a total of GBP64.2 billion (USD109.3 billion) in assets.
"The conclusion must be that for asset managers with a proven track record in alternatives-be it hedge funds, infrastructure fund managers, private equity groups, or an institution that can act as a broker for direct investments-there are some terrific opportunities within the sector," says Barbara Wall,
- 22/07/2014
Lazard Asset Management (LAM) has expanded its US equity capabilities with the addition of Frank Sustersic as director and portfolio manager.
Based in LAM’s new Radnor, Pennsylvania office, Sustersic will manage two new small cap equity strategies: the Lazard US Small Cap Equity Growth strategy and the Lazard US Small Cap Equity Growth Concentrated strategy.
Both strategies will be available to investors as separately managed accounts beginning in mid-July, and LAM plans on launching a mutual fund for the US Small Cap Equity Growth strategy on 30 August.
Sustersic joins LAM from Turner Investments where he was a
- 22/07/2014
Andrew Shrimpton (pictured), global head of regulatory compliance at Kinetic Partners, on what the next focus for UK AIFMs should be following the end of the AIFMD transitional period…
With today marking the end of the AIFMD transitional period, firms have been busy ensuring that they have their depositary agreements and risk management in place. Now, a key focus for UK AIFMs should be the reporting which they must adhere to, this includes:
• Annex IV Report: UK AIFMs must report to the FCA on each AIF they manage/market in the EEA. The first report will be due for
- 22/07/2014
- 22/07/2014
The implementation of the Alternative Investment Fund Managers Directive (AIFMD) is incomplete and significant uncertainty remains, according to the the Alternative Investment Management Association (AIMA).
A number of European countries have not implemented the AIFMD to date or not implemented it completely. AIMA says this is hindering managers’ ability to do business and means that investors in certain countries may be prevented from accessing alternative investment funds.
AIMA says that even where the AIFMD has been implemented, managers in some European countries are facing delays in being authorised by their national regulators. This means that managers for now may
- 22/07/2014
Alternative asset management group Gottex Fund Management has reported combined client assets of USD8.5 billion as at 30 June 2014.
Fee earning assets of alternative solutions and multi-asset endowment products remained stable during the second quarter of 2014.
Gottex’s low correlated bond substitution product line remains ahead of its benchmarks, generating positive returns ranging from 2.9 per cent to 4.7 per cent YTD, net of all fees.
Similarly, the group’s liquid and regulated UK and Scandinavian multi-asset products continue to perform well, adding respectively 4.8 per cent and 5.0 per cent after fees during the first six months.
- 22/07/2014
The Arbitrage Event-Driven Fund, which is advised by Water Island Capital, has been rated 5-Stars Overall out of 94 market neutral funds by Morningstar based on risk-adjusted returns performance.
Morningstar’s Overall rating takes into account a fund’s risk, volatility and returns with the top 10 per cent of funds awarded 5-Stars.
This follows the 5-Star (out of 94 market neutral funds) three-year rating based on risk-adjusted returns.
“We are pleased for the recognition awarded to the Arbitrage Event-Driven Fund. When we launched the fund to the public nearly four years ago, we felt confident that we could effectively
- 22/07/2014
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