Latest News
CalPERS’ announcement to divest of hedge funds has created a significant buzz in the media with many people wondering what impact this will have on the hedge fund and pension fund industries going forward.
Agecroft Partners is predicting the following outcomes:
Continued pressure on hedge fund fees for large mandates
Although the media often comments that hedge fund fees are two and 20, the reality is that most large public pension funds on average pay significantly less than this for large investment amounts. Over the past five years there has been a strong trend of hedge funds increasingly
- 23/09/2014
Netagio, the UK-based Bitcoin, gold and sterling exchange, has completed an independent review of its Bitcoin storage environment by BDO under ISAE 3000, the International Standard on Assurance Engagements.
This is the first review of this kind in the Bitcoin industry.
In line with ISAE 3000 the review obtained an understanding of the Bitcoin storage environment, including the evaluation and testing of the design of the relevant control procedures supporting the relevant control objectives, identified by the directors, in order to confirm the control procedures were in operation as at 26 May 2014.
The BDO LLP review found
- 23/09/2014
Domestic regulations in Europe are inhibiting the cross-border benefits of the European Commission’s Alternative Investment Fund Managers Directive (AIFMD), according to analysis by law firm CMS.
CMS has released a passporting guide to help Alternative Investment Fund Managers (AIFMs) navigate the new legislation and understand the complexities of cross-border fund management under AIFMD, other European directives and domestic regulations.
AIFMD, which came into force on 22 July 2014, promotes passporting rights as a key benefit for hedge, private equity, real estate and other alternative investment fund managers. In practice, however, AIFMs are experiencing impediments to passporting because some domestic
- 22/09/2014
“We’ve risen to the challenge to offer a truly integrated risk management approach with APT Enterprise,” comments Laurence Wormald (pictured), COO and head of research, SunGard APT, adding:
Please click here to read more…
- 22/09/2014
- 22/09/2014
Chi-X Japan Limited, a wholly owned subsidiary of market operator Chi-X Global, launched Chi-Match VWAP Cross (Volume Weighted Average Price) on 1 September.
Chi-Match VWAP Cross offers participants a broker neutral morning, afternoon and full-day cross.
Chi-X Japan trading participants access Chi-Match through existing connectivity.
Makoto Nagahori, chief operating officer of Chi-X Japan, says: “We are very encouraged by the early adoption of Chi-Match from both new and existing participants. As participants continue to look for greater liquidity and opportunities to achieve better execution for their clients, we are pleased that we can offer a crossing facility that
- 22/09/2014
- 22/09/2014
The London Metal Exchange (LME) has launched its new clearing house, LME Clear, migrating all of the positions of LME members from previous clearer LCH.Clearnet Ltd to its own risk and clearing system, LMEmercury.
“The successful launch of LME Clear is a fantastic achievement and an important milestone in the LME's development. Building LME Clear was an important strategic decision because it not only provides the LME immediate and substantial revenues, but also gives the LME and the group the ability to pursue new markets, new products and new capabilities, particularly in extending the LME franchise to Asian time zones
- 22/09/2014
- 22/09/2014
The US Commodity Futures Trading Commission (CFTC) has provided time-limited no-action relief concerning swap execution facility (SEF) access for block trade execution.
This time-limited relief to SEFs is until 15 December 2015 at 12:00 am EST.
The relief granted will facilitate market compliance with credit screening and efficient straight-through processing requirements for block trades.
A block trade is, among other things, a publicly reportable swap transaction that “[o]ccurs away from the registered [SEF’s] or [DCM’s] trading system or platform and is executed pursuant to the registered [SEF’s] or [DCM]’s rules and procedures.” (Commission regulation 43.2)
A Futures
- 22/09/2014
SunGard has launched its APT Enterprise platform, which provides integrated risk management through an interactive risk dashboard for buy-side firms.
The new platform will provide asset managers with a competitive advantage derived from an intuitive and coherent analysis of both market and liquidity risks.
This is achieved by improved modelling of multi asset class portfolios, and by streamlining the workflow for market data management. With this capability, asset managers will have the flexibility to enhance their investment strategies, and to realise substantial operational efficiencies through large-scale automation of risk reports.
Leveraging SunGard’s fully hosted risk managed service, APT
- 22/09/2014
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has formed a new AIMA Council, its global board of directors.
The former US SEC commissioner Kathleen Casey (pictured) continues as non-executive chairman.
The newly elected members of the AIMA Council are:
· Karl Wachter, general counsel, Magnetar Capital;
· Eva Sanchez, general counsel, Citadel Europe; and
· Choo San Yeoh, director, Albourne Partners (Asia).
Those continuing their directorships of AIMA are:
· Olwyn Alexander, partner, EMEA hedge funds leader, PricewaterhouseCoopers;
· Andrew Bastow, vice-president – head of European structuring and regulatory affairs, AQR
- 22/09/2014
- 22/09/2014
Workflow efficiency is becoming increasingly challenging for hedge fund managers as they look to launch multiple fund structures. Managing multiple hedge funds as well as separately managed accounts often leads to multiple systems, data flow complexity and a web of counterparty relationships to make sense of.
There can be little room for error in today’s regulatory environment. As a result, managers are turning to solutions that can handle front to back trade cycles using one integrated solution to mitigate the risk of data discrepancies.
In a recently published case study, New York-based Liquid Holdings, a cloud-based technology platform supporting
- 22/09/2014
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