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Citywire won the fourth “Funds Industry Charity Shield” five-a-side tournament beating IFDS on penalties (5-4) in the final at the London Soccer Dome.
The annual event, which is hosted by Calastone, has seen in excess of GBP35,000 raised for charities in its first three years.
This year all funds raised will go to Children in Crisis, which gives children in some of the world’s poorest and conflict affected countries the education they need to help transform their lives.
Teams from leading fund management and financial services firms have donated money to show support for the initiative. With 26 teams playing in
Investment manager East Lodge Capital Partners has selected Wells Fargo Global Fund Services to provide daily fund administration and an outsourced middle and back office operations solution.
“Wells Fargo Global Fund Services is a renowned industry leader in administering credit strategies,” says East Lodge chief operating officer Shawn Wells. “We were impressed by the ability of their operations team to handle the full post-trade lifecycle of both our liquid and our more complex investments, which will help to support the business as it grows.”
"East Lodge’s decision to award us this mandate following extensive due diligence demonstrates Wells Fargo’s
Alternative UCITS funds returned 0.75 per cent on average in May according to the latest figures released by Alix Capital, provider of the UCITS Alternative Index Global. Every strategy, with the exception of volatility, produced positive returns.
The best performing funds were CTAs, gaining 2.34 per cent, followed by Emerging Markets (up 1.80 per cent) and Multi-Strategy (up 1.02 per cent). Despite making modest gains of 0.39 per cent, Fixed Income funds are the strongest performers on a YTD basis, up 1.45 per cent, followed by Long/Short Equity and Multi-Strategy funds, up 1.16 per cent and 1.05 per cent respectively.
Following the retirement of Appleby British Virgin Islands (BVI) office managing partner Michael Burns earlier this year, Hong Kong-based partner Jeffrey Kirk has been appointed to assume the leadership.
Kirk and his family will relocate to the BVI from the Hong Kong office, where he has practised corporate and commercial law for the past five years, in early July.
Kirk has been with the Appleby Group since 2007, first practising out of its London and subsequently Bermuda offices before moving to the Hong Kong office in 2009. In addition to being admitted to practice in the BVI, Kirk has
Jersey is to host a high level conference organised jointly by the US Securities and Exchange Commission (SEC) and the Jersey Financial Services Commission.
The purpose of the conference is to encourage international co-operation between securities authorities in order to protect investors.
The Commission, which has successfully negotiated for the SEC to stage the conference in the island, is to host and sponsor the event, which takes place at the Radisson Blu Waterfront Hotel in July. It is believed to be the first time the SEC has staged a conference in one of the British Crown Dependencies.
The
Deutsche Bank has been awarded a loan services and fund administration mandate from Pacific Asset Management, a subsidiary of Pacific Life Insurance Company with in excess of USD 4 billion in fixed income strategies.
Deutsche Bank Alternative Fund Services (AFS) and Structured Credit Services (SCS) are partnering to provide a fully integrated solution which incorporates AFS’s fund administration technology and SCS’s CDO Suite platform.
Specifically, the partnership will offer trade capture, trade settlement, daily cash reconciliation, cash flow reporting, portfolio and transaction reporting, as well as automated daily pricing of bank debt and reporting for Pacific Asset Management’s new
The CLO 2.0 market in the US has enjoyed a resurgence in 2013/14. According to Royal Bank of Scotland, the market grew from USD55.2bn in 2012 to USD81.6bn in 2013. Last month, CLO issuance reached USD11.8bn, a level not seen since May 2007, bringing YTD issuance to USD34.5bn; slightly up on USD30.2bn for the same period last year. According to S&P Capital IQ LCD, the week ending 4 April saw USD2.75bn of new CLO assets come to market, continuing the market momentum of March, in which USD11.15bn of CLO assets were issued.
Timothy Massad has been officially sworn in as the chairman of the US Commodity Futures Trading Commission (CFTC), the federal agency that oversees the commodity futures, options and swaps industry.
Massad (pictured), who will assumes his responsibilities immediately, joined the agency after serving as the assistant secretary for financial stability at the US Department of the Treasury. In that capacity, he oversaw the Troubled Asset Relief Program (TARP), the principal US governmental response to the 2008 financial crisis designed to help stabilise the economy and provide help to homeowners.
Prior to joining Treasury, Massad served as a legal advisor
The National Futures Association’s (NFA) board of directors has approved a reduction in the assessment fees it levies on futures contracts and options on futures contracts traded on behalf of public customers from USD.02 to USD.01 per side.
Assuming the proposal is approved by the Commodity Futures Trading Commission, the reduction will become effective on 1 October 2014.
"Our assessment fee revenue is tied to public trading volume," says NFA president Dan Roth. "Public trading volume has increased over the past five years, with double-digit volume growth in the last two years. NFA's budgeted revenue for the next fiscal
Deutsche Börse is making changes to its selection indices which will become effective on 23 June 2014.
The composition of DAX, MDAX and TecDAX remains unchanged.


The following changes will be made to SDAX:
The shares of Hornbach Baumarkt and Borussia Dortmund will be included in the SDAX. The shares of König & Bauer and Air Berlin will be deleted from the index.


The next regular index review will be held on 3 September 2014.

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