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Following Financial Conduct Authority (FCA) approval, Lord Livingston of Parkhead has been appointed as a non-executive director of Man Group, effective 1 January 2016.
Lord Livingston will, subject to his reappointment as a director at the Company’s 2016 Annual General Meeting (AGM) in May 2016, succeed Jon Aisbitt as Chairman following the AGM.
Lord Livingston joins Man Group with almost two decades of board level FTSE 100 experience. He has been a serving member of the UK House of Lords since 2013 and was previously Minister of State for Trade and Investment for the UK Government from December 2013
- 21/12/2015
MarketAxess is ending the year on something of a high after reporting a new daily volume record in high-yield (HY) trading of approximately USD1 billion on Friday, 11 December, 2015.
Recent market volatility has also driven an increase in estimated market share for MarketAxess, with over 10 per cent share of TRACE HY volumes on 11 December, compared to an estimated 5.9 per cent share during the third quarter.
“Recent volatility in high-yield markets has prompted investors and dealers to use electronic trading more than ever. Our all-to-all Open Trading technology allows participants on MarketAxess to seamlessly trade with all
- 18/12/2015
Emerald Asset Management and Beltraith Capital, investment holding companies with approximately USD5.8 billion in assets under management, have teamed up to form EmStone Advisers.
The companies say that EmStone combines the experienced portfolio management teams from Beltraith subsidiary StoneRidge PMG Advisers and Emerald subsidiary Emerald Direct Lending Advisers to offer investors enhanced fixed income portfolio management solutions. Both StoneRidge PMG and Emerald Direct Lending also continue to operate independently.
“Our combined team averages over twenty-five years of institutional portfolio management experience with specific expertise tailored to today’s low-yield environment,” says Beltraith CEO Steven L Sanders.
“We are bringing
- 18/12/2015
The Railways Pension Trustee Company (Railpen), the GBP21 billion pension fund for UK rail workers, has been unwinding its exposure to hedge funds. And it’s not the only European private sector pension fund to be doing so, according to Preqin.
Globally, the number of private sector pension funds investing in hedge funds has risen over recent years. These investors have also increased their exposure to hedge funds; the average allocation of private sector pension funds is over 10 per cent as of December 2015. However, over this timeframe the number of European private sector pension funds investing has fallen.
- 18/12/2015
Hedge fund launches and liquidations both increased in Q3 2015, as energy commodities and equities posted sharp declines, and high yield credit spreads began to widen, according to HFR's latest Market Microstructure Report.
Hedge fund liquidations totalled 257 in Q3 2015, up from 200 in the second quarter, and the highest quarterly total since Q1 2014, according to the latest HFR , released today by HFR, while total liquidations in the first three quarters of 2015 stand at 674, up from 661 liquidations during the first three quarters of 2014.
The number of hedge fund launches also rose in Q3 2015
- 18/12/2015
Martin Shkreli, the founder and managing member of hedge funds MSMB Capital Management LP (MSMB Capital) and MSMB Healthcare Management LP (MSMB Healthcare) and former Chief Executive Officer of Retrophin Inc has been charged with fraud.
Evan Greebel, a former partner at the New York office of law firm Katten Muchin Rosenman LLP, who served as outside counsel to Retrophin, has also been charged. Shkreli is charged with securities fraud, securities fraud conspiracy, and wire fraud conspiracy for orchestrating three interrelated schemes: schemes to defraud investors in MSMB Capital and MSMB Healthcare and a scheme to misappropriate Retrophin’s assets. Greebel
- 18/12/2015
Malta has come a long way as a fund jurisdiction since it joined the EU in 2004. Through June 2015, Malta had 146 licenced entities holding Category 1A (advisory), Category 3A and Category 4A licences. In terms of growth trends, one interesting observation is that the number of retirement schemes being established in Malta is on the rise. There are 35 such retirement schemes currently, compared to 11 in 2013. In addition, Malta is home to some 14 retirement scheme administrators, illustrating that the international pensions space is gaining traction.
With respect to the fund management operational infrastructure, Malta is
- 17/12/2015
Guernsey's funds industry is demonstrating clear value to fund managers and is increasingly being viewed as a world-leading jurisdiction in which to establish investment funds; in particular hedge funds and private equity funds.
A report authored by KPMG and commissioned by the States of Guernsey (and supported by Guernsey Finance), published in May 2015 – entitled International Capital Flows – found that Guernsey funds facilitate GBP25 billion of inward investment to the UK from global investors and some GBP105 billion of inward investment to Europe. It estimates that European fund managers running Guernsey funds earn GBP1.8 billion of fees, of
- 17/12/2015
Gibraltar is a peninsula located on the southern tip of Iberia and is home to 32,000 people. It is the only British jurisdiction located in continental Europe. For managers, particularly those based in the UK, who are searching for options on where to establish an AIF, and indeed an AIFM, to comply with the AIFM Directive, the fact that Gibraltar is an English-speaking peninsula, uses Sterling as its currency, and has a legal system based on English common law, makes it highly appealing.
For lovers of golf, there are hundreds of golf courses within a 50-kilometre radius. There are great
- 17/12/2015
Dillon Eustace is one of Ireland's leading law firms focusing on corporate and M&A, financial services, banking and capital markets, litigation and dispute resolution, real estate, insurance and taxation. Headquartered in Dublin, Ireland, the firm's international practice has seen it establish offices in Tokyo, New York, Hong Kong and the Cayman Islands.
Within our seven main practice groups we have developed teams focusing on specific practice areas, bringing together in a co-ordinated fashion, lawyers, tax advisers and compliance professionals from different teams to advise on specific parts of a client's transaction or matter.
Background to development
Ireland is Europe's leading onshore
- 17/12/2015
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