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Jersey has introduced a new regulatory framework for private funds which the Jersey Financial Services Commission believes will enhance the island’s competitiveness as a jurisdiction in which to establish funds.
The new Jersey Private Fund consolidates and streamlines Jersey’s private fund offering and will enable funds with up to 50 investors to take advantage of a fast-track authorisation process and lighter ongoing regulatory requirements.
It is designed to provide a more flexible and versatile framework which will further improve the speed and ease with which funds marketed to professional investors can be established. The framework ensures continued compliance with
The Jersey Financial Services Commission (JFSC) has launched the Jersey Private Fund (JPF) Guide, setting out the criteria for Jersey’s new private fund product which can be marketed to up to 50 professional investors.
The JFSC has launched the JPF Guide after feedback from the industry on its joint consultation with the government which, undertaken in 2016, focused on the “rationalisation and consolidation of Jersey’s private fund and unregulated fund regimes”.
The regulator has also taken account of product developments in other jurisdictions.
The launch of Jersey’s new single private fund product will see the phasing out of
The Preqin All-Strategies Hedge Fund benchmark recorded returns of 1.18 per cent in February, building on the 1.43 per cent gains seen the previous month.
This contrasts with the losses that hedge funds incurred in February 2016.
The industry has now recorded 11 months of positive gains in the past year, and 12-month performance has consequently risen to 13.63 per cent, the highest level since May 2013 (+13.76 per cent). Most leading hedge fund strategies returned positive figures in February, with event driven strategies (+1.46 per cent) and equity strategies (+1.54 per cent) funds once again posting the strongest
Concern about the impact of geopolitical risk in the investment profession has grown since the UK’s decision to leave the European Union in July 2016, according to a poll of almost 1,500 investment professionals from around the world by the CFA Institute.
The survey reveals that changes to the geopolitical environment are widely expected to have long-term impacts on the financial markets.
The vast majority of respondents (70 per cent) expect investment returns to be compromised by geopolitical uncertainties over the next three to five years.
Despite the risks identified by members in the poll, a large majority
TABB Group, a research and consulting firm focused on capital markets and financial technology, has hired Drew Seldin as chief marketing officer (CMO) and Radi Khasawneh and Tim Cave as additions to the analyst team.
Based in New York for the newly created role of CMO, Seldin will be part of TABB’s executive management team and will be responsible for managing TABB’s marketing and distribution efforts and staff.
His extensive background in marketing and publicity includes his work as the driving force behind the team that reshaped the Martha Stewart brand. He most recently served as the creator and
INDATA, a provider of software, technology and services for buy-side firms, has made functionality enhancements geared towards the MiFID II implementation date of January 2018.
More than 350 changes have been made to the iPM Epic software suite.
Numerous User Interface (UI) changes and data aggregation tools have been made to harness data from external systems for complex compliance rule calculation and handling on a more granular level.
Streamlined workflows for efficiently capturing and storing internal and external data across the front, middle and back-office have been implemented. The updates provide full reconciliation capability and audit trail resulting
Brickendon, a global management and technology consultancy, has promoted two executive directors to partner.
Nathan Snyder, head of the firm’s US business, and Lee Pittaway, head of business development, will take on the new positions immediately as part of wider plans to boost the company’s management structure and give staff greater responsibility in the running of the firm.
Over the past year Brickendon has appointed a new chairman and non-executive director. Earlier this year, the firm issued employees a stake in the company and increased opportunities for internal promotion in a bid to help staff play a larger part
Pacific Fund Systems (PFS), a provider of fully integrated fund administration software via its PFS-PAXUS application, has appointed Didier Lucotte as cloud services manager in the firm’s European operations team.
Lucotte, who will based in the group’s Isle of Man office, is an experienced cloud project manager having previously served in this role with a UK listed telecoms company.
His role will encompass bringing the PFS-CLOUD initiative online and subsequently managing new and existing client migration onto the PFS-CLOUD.
As part of the new service PFS will offer its core software products, PFS- PAXUS and PFS-CONNECT via a
Hedge funds gained 0.99 per cent in February with underlying markets, as represented by the MSCI AC World Index (Local) up 2.72 per cent over the same period, according to EurekaHedge’s latest Index Flash Update.
On a year-to-date basis, managers gained 1.93 per cent with 11 per cent of them posting returns in excess of 5 per cent.
Among developed mandates, North American hedge funds were up 0.77 per cent, followed by European and Japanese counterparts which gained 0.46 per cent and 0.30 per cent for the month respectively. On a year-to-date basis, North American managers were up 1.78
London-based Feedstock is operating a research platform that offers buy-side fund managers a one-stop-shop to managing their research activities under MiFID II.
Feedstock acts as a productivity tool by integrating with a buy-side firm’s email system. By filtering through the hundreds of research reports that are sent on a daily basis, the system prioritises only the most relevant research.
As everything is powered by machine learning behavioural algorithms, it means that over time, the more research a fund manager consumes, the more detailed a picture of their research preferences begins to emerge.
“Under MiFID II, firms will need
