Funds
Guernsey is at the forefront of standards on tax transparency and information exchange, according to Tony Mancini, Head of Tax at KPMG in Guernsey.
Interviewed by Caroline Hyde on Bloomberg’s Countdown show, Mancini was questioned on how Guernsey was responding to calls for the Crown Dependencies of Guernsey, Jersey and the Isle of Man and other British Overseas Territories to establish public registers of offshore firms. Mancini responded by pointing out that the steps already taken by Guernsey put it ahead of others, including the UK.
“If you are a UK resident or anywhere [else] for that matter and you
Dermot Butler, former Chairman of Custom House Group, and Lancelot Frick, Principal of Frick Capital, have formed SwissRepCo to help non-Swiss fund managers market their funds in the country following recent regulatory changes.
FINMA, the Swiss Financial Market Supervisory Authority recently changed its rules to stipulate that any foreign hedge fund, looking to raise assets in Switzerland from qualified investors, must appoint a Swiss-based legal representative and Swiss bank as paying agent: the new rule came into place on 1 March 2013 and deferred under certain circumstances to 1 March 2015.
After more than 45 years in the financial
Redi2 Technologies, the premier provider of hosted fee billing and revenue management solutions to the global financial services industry, announced today that
Pershing LLC, a Bank of New York Mellon company, has licensed the Redi2 Revenue Manager[WMSP] enterprise billing system (EBS).
Revenue Manager is designed to handle the processing of over one million accounts for broker-dealer clients whose advisers offer asset-based advisory billing solutions to their end investors via Redi2's hosted revenue management platform in conjunction with Pershing's mainframe processing capabilities.
Pershing consolidated four legacy, standalone asset-based billing systems into Redi2's hosted platform, which is integrated into Pershing's NetX360® platform.
By James Williams, Managing Editor, Hedgeweek – January proved to be a sluggish start for hedge funds. According to the Preqin All-Strategies Hedge Fund Benchmark, the average hedge fund returned 0.07 per cent although unlike James Bond, this was hardly likely to set investors’ hearts racing.
One strategy that stood out above all others was managed futures. The average CTA returned 3.10 per cent. That’s a respectable 14.72 per cent return over a 12-month period. By comparison, the average hedge fund, through January, had only returned 4.21 per cent. Macro strategies (0.84 per cent) and discretionary funds (0.48 per cent) fared
RiverPark Advisors has launched the RiverPark Focused Value Fund (Institutional: RFVIX; retail: RFVFX), a high conviction strategy to be managed by former hedge fund manager David Berkowitz.
Berkowitz is also joining RiverPark as the firm’s new co-chief investment officer. He is seeding the new fund with USD10 million of his own money, with other RiverPark principals investing an additional USD2 million.
“For some time we have wanted to add an equity value fund to the RiverPark fund family. We were just waiting to find the right manager,” says Morty Schaja, co- founder and chief executive officer at RiverPark. “David is
S&P Dow Jones Indices (S&P DJI), has launched two new indices – S&P GSCI Gold Inverse and S&P GSCI Silver Inverse – designed to provide the inverse returns of the S&P GSCI Gold and the S&P GSCI Silver indices respectively, which represent a short position in their respective underlying indices.
The S&P GSCI is the first major investible commodity index. It includes 24 commodity futures on physical commodities across five sectors: energy, agriculture, livestock, industrial metals and precious metals.
“After the record drop in precious metals in 2013 which has yet to see a rebound, many investors are looking for ways
Global asset management group Gottex Fund Management Holdings is on target to achieve operational profit by the end of 2015, according to the company’s annual results statement for 2014.
Gotten says that synergies from the merger with EIM Group (EIM) are now expected to exceed USD20 million and to be fully implemented by June 2015. As a result the group is targeting to be operationally profitable by Q4 2015.
The later than planned completion of the merger was due to regulatory delays which held up implementation of substantial synergies. Together with lower average fee rates, this contributed to an adjusted
RWC has launched the RWC Nissay Japan Focus Fund, a sub-fund of its Luxembourg SICAV, operating as a long-only Japan equity fund focused on bottom-up stock picking and constructive engagement with its investee companies.
The fund has day one investors totalling approximately USD40 million, and has a significant pipeline.
The fund will further expand RWC’s joint venture with Tokyo-based Nissay Asset Management (NAM) and will closely replicate an existing Japanese fund that is an AIF and was launched in 2005. That fund recently marked its 10-year anniversary and has generated exceptional performance of 34 per cent over the TOPIX
China’s stake as the world’s premier economic power is expected to gain traction as the country continues to liberalise its economy and implement reforms that bolster its status among developing economies.
The Chinese Yuan became the tenth most active currency pair measured globally by the bank of international settlements in is 2013 triennial survey, the latest figures are expected to have risen by 15% as Yuan clearing and settlement saw additional players.
Rui Jin, regional manager for Far East and Mainland China at TradeNext, says: “China is reviewing its policies both internally and externally and despite having a temporary slowdown
The Abbey Capital Futures Strategy Fund has surpassed USD100 million in assets under management. The fund, Abbey Capital’s first 1940 Act liquid alternative mutual fund, launched on 1 July 2014 and has returned over 26 per cent since inception.
The fund offers individual and institutional investors access to a multi-manager managed futures mutual fund, comprising leading managed futures managers, and leveraging Abbey Capital’s expertise in manager selection, portfolio construction and risk management.
“The recent strong performance from managed futures shows its value for investors as part of a diversified portfolio,” says Tony Gannon, CEO of Abbey Capital. “The increase
