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More than 100 new funds were launched from Guernsey last year. Fiona Le Poidevin of Guernsey Finance believes that this is a major vote of confidence in the Island’s approach to AIFMD.
Latest figures from Guernsey’s financial services regulator, the Guernsey Financial Services Commission (GFSC), show that it approved 30 new investment funds during the fourth quarter of last year, amid a total of 103 additions during 2013.
However, while asset values have proved sluggish, largely due to external factors at play during 2013, the GFSC has been kept busy with new fund applications. The 103 new funds launched are
Lazard Asset Management has launched its first US-based open-end liquid alternative equity fund, the Lazard Fundamental Long/Short Portfolio.
The Lazard Fundamental Long/Short Portfolio uses a long/short equity strategy that seeks superior risk-adjusted returns.
The portfolio employs fundamental bottom-up stock selection, focusing primarily on US-listed securities. It seeks to take long positions in equities of companies believed to have strong and/or improving financial productivity that have attractive valuations, and short positions in companies with deteriorating fundamentals, unattractive valuations, or other qualities warranting a short position.
The portfolio is based on the existing Lazard Fundamental Long/Short strategy, which Lazard has
AlphaHedge Capital Partners, a liquid alternatives platform, has appointed J Michael Miller as senior vice president, investor relations to head up sales, marketing and relationship management.
Miller previously served as managing principal at Bandon Capital Management, a liquid alternative investment management firm where he co-managed the organisation and oversaw investor relations.
His prior experience includes senior investor relations roles at Federated Investors, Robeco USA- Weiss, Peck & Greer, LPL-Concord Capital Partners and Morningstar-mPower.
"Mike brings a solid background in distribution and strong knowledge of alternative investments to AlphaHedge. His experience and reputation will be a valuable addition to
Investcorp, a provider and manager of alternative investment products, has appointed David Walsh to the firm’s hedge funds business.
Walsh's responsibility will be to identify and source emerging hedge fund talent, and to structure and develop relationships with these managers.
He will report directly to Nick Vamvakas, head of Investcorp's single manager business.
Investcorp's single manager business establishes strategic relationships with emerging managers, providing them with seeding and acceleration capital in addition to distribution and business support.
Lionel Erdely, head and chief investment officer of the hedge funds group at Investcorp, says: "David has been identifying and
ENSO, a provider of market intelligence and analytics for fund managers, has opened its new European headquarters in London.
The office enables the firm to provide local support to its growing roster of European hedge fund and asset management clients.
ENSO provides fund managers with actionable data and analytics to make better decisions and improve their relationships with their counterparties via a fully hosted SaaS platform.
Zhuofang Wei, who recently joined ENSO as EMEA director of client services, will manage the London office. She previously worked on the prime services risk team at Credit Suisse in London, where
The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) is introducing a streamlined approach for requests for registration of no-action relief from commodity pool operators (CPO) who delegate certain activities to a registered CPO.
The DSIO proposal does not provide CPO registration relief.
Rather, it establishes a streamlined approach under which DSIO will consider requests for no-action relief from CPO registration and the form of request for relief a CPO must submit under that approach.
DSIO will issue individual responses to each requestor seeking relief.
Under this streamlined approach, the relief would
Indus Valley Partners (IVP) has launched IVP Managed Services, an enterprise data management service specifically for alternative asset managers.
IVP Managed Services will oversee and manage a fund’s entire data lifecycle which includes all security/reference data, reconciliations and external reporting.
IVP Managed Services will enable funds to gather, scrub, organise and distribute their data on a daily basis to all relevant parties both internal and external to the fund, while monitoring alerts/exceptions and performing business validation of that data.
“Cost concerns from increased regulation and pressure on fees, and the need to focus more on generating insight from
A new report issued by India’s Ministry of Finance recommends allowing over-the-counter (OTC) non-capital-raising American depositary receipt (ADR) programmes on any kind of securities, not only equity.
Neil Atkinson, Asia-Pacific head of depositary receipts at BNY Mellon, believes this is positive news both for India and those investing in Indian securities.
“The MS Sahoo Committee’s ground-breaking recommendations are terrific news for India and the global investment community,” says Atkinson. “The introduction of the new scheme for DRs will provide global investors with convenient access to Indian companies, who in turn can attract foreign investment through this flexible and cost-efficient
DMS Offshore Investment Services has received approval from the Central Bank of Ireland for its AIFM passporting application to Luxembourg.
The Central Bank has now forwarded the notification application to the Luxembourg authorities and this confirmation of transmission of the notification process technically completes that requirement under the Alternative Investment Fund Managers Directive (AIFMD).
"Whilst the Luxembourg authorities (CSSF) have the right to request further details on the matters covered in our programme of operations, at this point the Irish AIFM is in a position to be appointed as an alternative investment fund manager to Luxembourg alternative investments funds.
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2014 measured -0.59 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.94 per cent in May.
"Subscriptions outpaced redemptions by two to one, whereas capital activity was down from prior month levels," says Bill Stone, chairman and chief executive officer, SS&C Technologies.
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