Managers
Carey Olsen has advised on the sale of FRM Holdings (Financial Risk Management) to Man Group by way of a Jersey scheme of arrangement.
FRM is one of the largest and hedge fund research and investment specialists with a global infrastructure of six offices and approximately 150 professionals in Europe, North America and Asia and it has funds under management of approximately USD8bn.
Man is an alternative investment management business. Man and FRM’s combined multi-manager business will have total funds under management of approximately USD19bn, making it the largest independent non-US based fund of hedge funds.
A cross-practice Carey Olsen
Citi has been awarded a mandate by Value Partners Group, one of Asia’s largest asset management firms, to provide a complete suite of global custody, fund administration, and fiduciary services for Value Partners’ first Ucits-compliant fund, Value Partners Absolute Greater China Classic Fund.
Launched in June 2012, the new Ucits fund is a sub-fund of Value Partners Ireland Fund, a Dublin-domiciled umbrella company regulated by the Central Bank of Ireland.
"Given the current challenging macro environment and the European sovereign debt crisis, investors are keen to explore fund products that have an Asian focus and exposure” says Timothy Tse, chief
Singapore-based asset manager, Milltrust International Group, founded by Simon Hopkins in January 2011, has launched an innovative range of emerging market UCITS funds, ad
The ordinary shareholders of LME Holdings have approved all the resolutions required in connection with the proposed scheme of arrangement to implement the acquisition of LME Holdings by Hong Kong Exchanges & Clearing (HKEx).
At the LME court meeting a majority in number of ordinary shareholders who voted (either in person or by proxy), representing over 75 per cent in value of all ordinary shares held by such shareholders, voted to approve the scheme. The resolution was accordingly passed by the requisite majority.
At the LME EGM, the special resolution proposed in relation to the scheme (including the proposed amendments
San Diego-based Brandes Investment Partners has launched a Dublin-domiciled emerging market equity fund reported Citywire Global this week.
Van Eck Associates has acquired a hedge fund beta business and team from Lyster Watson, and will be offering a suite of strategies called Trackers.
Trackers are hedge-style beta strategies based on indexes developed using a patented methodology and proprietary intellectual property.
Each index seeks to capture the beta of a specific hedge fund strategy, and the Trackers team focuses only on those hedge fund strategies whose returns can be statistically replicated using tradable risk factors represented by US-listed ETFs.
The team believes that not all hedge fund strategies are conducive to this approach.
The Trackers business currently includes the
The latest quarterly research on the Ucits hedge funds industry published by Alix Capital reveals a 7.5 per cent increase in the total assets managed by Ucits hedge funds to EUR129bn, an increase of 18.3 per cent over the last 12 months.
Louis Zanolin, chief executive of Alix Capital, says: “As predicted, we have continued to see a growth in the total assets managed by UCITS hedge funds in the second quarter of 2012 and this is a trend which we expect to continue for the remainder of the year. Investors are attracted by Ucits funds for bringing an increased
This quarter investors appear very reluctant to make strong bets and are planning to reduce their exposures to directional strategies with most equity long-short strategies seeing a significant drop off in demand for this quarter, according to ML Capital Management’s latest ML Alternative Ucits Barometer.
At the same time, the continued crisis in the markets is driving flight to perceived safety, resulting in increased demand for less market oriented strategies such as global macro, fixed income and equity market neutral.
The relative value area is one of the biggest winners this quarter. 60 per cent of respondents are keen to
State Street Corporation has agreed to acquire hedge fund administrator Goldman Sachs Administration Services (GSAS) from The Goldman Sachs Group, in a cash transaction with a total purchase price of USD550 million.
The deal, which pending regulatory approvals and other customary closing conditions is expected to be finalised early in the fourth quarter of 2012, will see State Street overtake Citco as the world’s biggest hedge fund administrator.
State Street expects the transaction to be accretive in the first full year of operation on a cash basis. Through dedicated teams globally, State Street provides a comprehensive suite of middle office,
JP Morgan Worldwide Securities Services (WSS) has launched its tax calculation reporting service for UCITS funds distributed into the UK the firm announced this week.
