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Professionals at equity hedge funds earned significantly more in 2014 than peers in credit hedge funds and asset management, according to the latest compensation report from Kea Consultants.
Base salaries for junior professionals grew by a marginal 5% at most funds and varied little across asset management and equity/credit hedge funds, with mean base ranging from GBP67.5k to GBP75k for analysts with two to four years of experience, and peaking at a GBP200k even for more senior VP/Principals with eight to ten years of experience. However, top performers at credit funds earned substantially larger bonuses than their peers, which increased
- 20/03/2015
Managed futures traders were down 0.07% in February according to the Barclay CTA Index compiled by BarclayHedge. The Index remains up 3.02% year to date.
“For eight of the past ten months, CTAs were able to generate returns from trends that provided ample profit opportunities,” says Sol Waksman, founder and president of BarclayHedge.
“But in February, intra-month reversals in fixed income and commodity markets provided a more difficult backdrop for momentum strategies.”
Only two of Barclay’s eight CTA indices had gains in February. The Financial/Metals Traders Index was up 0.53%, while the Currency Traders Index rose 0.01%.
On the losing
- 20/03/2015
- 20/03/2015
DMS Offshore Investment Services is expanding its International Tax Compliance Group with the addition of Roman Ipfling (pictured), former US Tax Manager at KPMG in the Cayman Islands.
Ipfling is Global Co-Lead of the DMS ITC Group responsible for management operations, systems and reporting. Peter Stafford, attorney-at-law, remains Global Co-Lead of the Group.
The DMS ITC Group is a dedicated, specialist team of attorneys, accountants and compliance experts devoted to serving more than 600 private investment structures in complying with their obligations under the US Foreign Account Tax Compliance Act (FATCA) and other international tax information initiatives.
The ITC Group
- 19/03/2015
Amundi has appointed Navik Patel as Head of Directional Strategies, Senior Analyst at Amundi Alternative Investments, based in the firm’s London office.
Patel has 15 years financial service experience including 11 years Hedge Fund industry experience as both an Analyst and Portfolio Manager. Before joining Amundi AI, Navik worked for five years within Alternative Investments at Aberdeen Asset Management in New York, Philadelphia and London, most recently as Senior Investment Manager. Prior to this, Patel worked as Portfolio Manager/ Senior Analyst at RBS Asset Management from 2004. He moved to New York in 2008 to establish a presence for RBS
- 19/03/2015
Jay Gould and Michael Wu have joined Winston & Strawn’s San Francisco office as partners. Gould will co-chair Winston’s Financial Services and Investment Management practice.
They joined Winston with an integrated team of partners from another AmLaw 100 law firm. Their practices will provide enhanced and expanded services to investment funds, investment advisers, and other regulated financial market participants.
Gould counsels clients involved in all aspects of the financial services industry, including registered investment companies, hedge funds, offshore investment companies, investment advisers, and broker-dealers. He previously served as chief counsel for E*TRADE Global Asset Management, Inc., vice president with TransAmerica
- 19/03/2015
Borsa İstanbul is to acquire the London Metal Exchange’s (LME) stake in clearing house LCH.Clearnet. In addition and Borsa İstanbul is to partner with the LME and the LME’s parent company Hong Kong Exchanges and Clearing (HKEx), on the dissemination of market data.
“As the world centre for industrial metals trading, the LME is committed to identifying new ways to expand internationally and to working with strategic partners to better serve our markets. We are delighted to announce this partnership with Borsa İstanbul, and the HKEx Group looks forward to working with them on future initiatives, not only in data
- 19/03/2015
Mitsubishi UFJ Fund Services (Mitsubishi UFJ), has appointed Ken McCarney as Chief Executive Officer.
The position was previously held by Glenn Henderson, who is retiring from his role and will remain an advisor at the firm. McCarney retains his current position as Chief Operating Officer.
McCarney has more than 20 years’ experience in the financial services industry. He joined Mitsubishi UFJ in 2007, establishing the Dublin office and growing it to 170 staff members. Most recently Mr.McCarney was instrumental in the acquisition of Meridian Fund Services and integrating their clients onto Mitsubishi UFJ’s global asset administration platform. McCarney is
- 19/03/2015
ERG Asset Management has appointed Guy Locke as Senior Advisor to the firm.
Most recently Locke was a Partner with Walkers, attorneys at law in the Cayman Islands, and was head of the firm’s Global Insolvency and Restructuring Group for over 10 years.
Commenting, George O'Dowd, Co-President of ERG, says: “Guy’s extensive experience in dealing with distressed fund situations such as Long Term Capital and the Bear Stearns High-Grade and Enhanced Leverage funds combined with his legal and practical knowledge of portfolio illiquidity issues further broadens our asset management capability. We look forward to working with Guy’s deep
- 19/03/2015
In an extract from March’s edition of the Preqin Infrastructure Spotlight, Stephen Yates examines the latest data on African infrastructure, including deal flow, notable deals in recent years and the growing number of investors targeting investment in Africa.
Preqin’s Infrastructure Deals feature on Infrastructure Online includes extensive information on almost 11,000 completed transactions in infrastructure assets globally. These deals involve a variety of investors, ranging from infrastructure fund managers and direct institutional investors to industry players such as developers, contractors and other industry-specific trade investors. In excess of 7,200 transactions have been completed since 2007, with an estimated deal
- 19/03/2015
- 19/03/2015
Societe Generalehas been appointed as clearing broker and certificate issuer to a range of funds managed by Progressive Capital Partners, a Swiss based alternative investment management group.
Societe Generale Securities Services has also been appointed Custodian to the funds.
Societe Generale’s appointment relates to Progressive’s new Linden Core Fund 1x and Linden Core Fund 2x, which are both Irish-domiciled and have been authorised as UCITS compliant. The funds are part of a growing range offered by Progressive, which now has assets under management of more than USD680 million.
Andrew Dollery, Director, Societe Generale Prime Services, says: “Progressive Capital
- 19/03/2015
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