Mark Evan Bloom and his firm North Hills Management are jointly to pay a USD26 million fine to settle CFTC charges over the operation of a fraudulent commodity pool, North Hills LP. Previously, on 11 June, 2010, the court entered
Schroders has confirmed the launch of a new externally-managed fund on its GAIA platform – Schroder Paulson Merger Arbitrge, subject to regulatory approval. The UCITS fund will be based on the fundamental merger arbitrage hedge fund run by well-known hedge
Muzinich & Co has appointed Jamie Cane as credit analyst. Cane joins the firm’s investment team in London and will focus on identifying credit opportunities within the growing European high yield market. Cane joined Muzinich & Co from Babson Capital
Temenos Group, a provider of software to financial institutions globally, has acquired Multifonds, a global provider of fund administration software. The acquisition will give Temenos additional scale, access to highly complementary products, client relationships with more than 30 of the
The Securities and Exchange Commission has voted unanimously to propose rules further defining the terms “swap,” “security-based swap,” and “security-based swap agreement.” The Commission also proposed rules regarding “mixed swaps” and books and records for “security-based swap agreements.” The rules
A new hedge fund, first and foremost, needs to raise investment. There are a many factors which differentiate a successful investment round from an unsuccessful one, not least the experience of the fund managers, and whether the proposed strategy is convincing. All
Bermuda-licensed fund administrator ILS Fund Services has reported growth in assets under administration (AUA) to USD3 billion and the company now provides services to 27 ILS funds. “We are extremely proud of this achievement and very thankful to our clients
First Derivatives (FD), a provider of software and consulting services, has appointed Virginia Gambale to the Board of the Company as a Non-Executive Director with immediate effect. A US citizen, Gambale has extensive experience as an enterprise technology buyer in
Quod Financial, a provider of adaptive trading execution technology, has pre-loaded its Adaptive Smart Order Router with a library of trading algorithms for better execution and lower market impact. Ali Pichvai, chief executive of Quod Financial, says: “The days of
ALTIN, the USD270m multi-strategy fund of hedge funds achieved a very positive investment performance in 2010 of +12.47%, easily outperforming the funds of hedge funds index, HFRI FoF (+5.67%). ALTIN continued with a strong start to 2011, up 2.48%
