Funds
Macquarie Group Ltd (Macquarie) is acquiring a 42.5% stake in sugar and ethanol advisory, supply chain management and trading firm C Czarnikow Ltd from Wilmar International Ltd, which will cease to be a shareholder.
Bringing significant expertise in agricultural risk management, Macquarie will work alongside co-shareholders, Associated British Sugar and Czarnikow management, to support the company’s growth and future development.
This revised structure has no impact on Czarnikow Group Ltd’s day-to-day operations.
Robin Cave, CEO of Czarnikow Group Ltd, says: “We have achieved a balanced shareholding structure with the necessary expertise and flexibility to help us achieve future
Independent corporate governance and support services provider, Carne Group, has published the latest addition of its UCITS Guide for Alternative Managers reported FINa
Man Group is to acquire London-based hedge fund research and investment specialist Financial Risk Management (FRM) in a deal worth up to USD82.8million.
Once the acquisition is completed, which is expected to be before the end of Q3 2012, FRM will be incorporated into Man’s existing Multi-Manager business leaving the new combined business with USD19 billion assets under management.
The FRM brand will be maintained, but according to a statement released by Man, the company expects to make savings of up USD45 million a year from ‘operational synergies’.
No consideration will be paid up front. The contingent consideration which will
London-based RMG Wealth Management is apparently planning to launch its inaugural UCITS fund for UK clients before year-end reported FT Adviser this week.
The Threadneedle UK Absolute Alpha Fund, co-managed by Mark Westwood and Chris Kinder, has delivered top quartile returns since its launch on 1 October 2010, and has now reached over USD100m in assets.
The Threadneedle UK Absolute Alpha Fund is a UCITS UK equity long/short fund which aims to generate the majority of performance from stock selection. The fund returned 8.8%¹ since inception compared to 3 month GBP Libor return of 1.3%² and the FTSE100 return of 6.8%.
Gary Collins, Head of UK Wholesale, says: “Funds that deliver positive returns regardless of market conditions are in strong demand as a
The Reserve Bank of India’s (RBI) guidelines on securitisation transactions could promote the long-term growth of the Indian securitisation market, pending clarity on the tax treatment of Pass-Through-Certificates (PTCs), Fitch Ratings says.
Fitch believes that the requirement for a minimum holding period for each loan before it becomes eligible for securitisation would be a credit positive, as this would eliminate first-payment default risk.
The requirement to hold between 5%-10% of the issuance may not represent a dramatic shift for Indian originators who have in any case provided the first-loss credit enhancement in most transactions. But it is likely to result
Cheyne Capital Management (UK) LLP announced the launch of a pair of UCITS IV funds this week: the Cheyne Global Credit Fund and the Cheyne European Real Estate Bond Fund.
Cheyne Capital Management (UK) (Cheyne Capital) is launching two UCITS IV compliant funds – the Cheyne Global Credit Fund and the Cheyne European Real Estate Bond Fund.
Cheyne is the investment manager to the funds with Citibank International plc, Ireland Branch, acting as Administrator and Custodian.
These UCITS funds have been launched in response to investor demand and their investment portfolios are based on those of two existing flagship Cheyne strategies.
The Cheyne Global Credit Fund is an actively managed, directional UCITS IV compliant fund offering weekly liquidity. It positions investment grade and crossover credit, primarily in North
Kinetic Partners has opened a new office Jersey, the firm’s first presence in the Channel Islands.
The new Channel Islands office will support global financial services organisations and local firms, with a focus on regulatory, compliance, due diligence, tax and forensic and dispute advisory services and will be headed by Malin Nilsson, Director at Kinetic Partners. Nillson has been with the Firm since 2007 and specialises in regulatory compliance, concentrating on governance, systems and controls, risk management and suitability, KYC and AML, as well as forensic investigations.
Kinetic Partners marked the opening of the new office with an event in
On the 23 April 2012, Germany and Luxembourg signed a new Double Tax Treaty ("the Treaty") which is to replace the previous treaty dating back to 1958. And according to Dechert, the new Treaty may impact on many US, UK and other non-German investors as Luxembourg is often used as a tax efficient jurisdiction for German inbound investments (particularly used by funds, private equity and real estate investors).
The main changes include:
Explicit Treaty access for funds – Luxembourg investment funds in the legal form of a SICAV, SIVAF or SICAR are to be able to claim Treaty benefits in
