Latest News
Rothstein Kass has appointed Kevin M Goldstein as a director in the firm’s business advisory services practice in its New York City office.
With more than two decades of experience developing strategic planning, business development and technology solutions for many of the industry’s largest financial institutions, Goldstein will advise clients, including hedge funds, funds of funds, mutual funds, private equity managers, broker-dealers, RIAs and family offices, on matters such as business strategy, new product development, infrastructure, technology assessments and more.
“Kevin is well-respected in the alternative investments space and has a proven track record of developing innovative but practical
Man Group has reported a reduction in funds under management (FUM) of five per cent to USD54.1bn for the year 31 December 2013 (31 December 2012: USD57.0bn).
FUM excluding guaranteed products are up one per cent to USD51.8bn (2012: USD51.3bn).
Gross sales for the year were up 26 per cent to USD16.1bn (2012: USD12.8bn), while redemptions were down two per cent to USD19.7bn (2012: USD20.1bn), and net outflows were down 51 per cent to USD3.6bn (2012: outflows of USD7.3bn).
Manny Roman, chief executive officer of Man, says: “Despite challenging conditions for our business, we continued to make progress
Grassi & Co has launched a new fund administration entity, Grassi Fund Administration Services (GFAS), which will take over more than USD3.6bn in assets under administration previously administered by Grassi & Co.
"We are excited to have Grassi Fund Administration Services build on the level of service and market reputation we have established with more than 250 funds," says Grassi & Co managing partner Louis C Grassi. "Launching an entity that is solely focused on assisting managers with their daily accounting and administration operations will enable us to provide an even higher quality of service to help them meet their
New hedge funds offered by new US-based managers are making their investors wait longer to redeem holdings, according to the Seward & Kissel New Hedge Fund Study.
The ability of new hedge funds to impose heightened restrictions on investor liquidity suggests a potential shift in the relationship between hedge funds and investors.
In 2013, 89 per cent of new funds (as compared to 64 per cent in 2012) restricted redemptions to a quarterly or longer-term basis, representing a 25 per cent rise. Just 11 per cent of funds allowed monthly redemptions in 2013, compared to 36 per cent in 2012.
By Fiona Le Poidevin, Chief Executive of Guernsey Finance – You are invited to learn more about the BRICs and MINTs from the creator of the acronyms, Jim O’Neill, at the Guernsey Funds Forum in London this May.
Leading economist and creator of the ‘BRICs’ acronym, Jim O’Neill, will be the keynote speaker at this year’s Guernsey Funds Forum in London.
The annual event, which this year takes place at the Grange St Paul’s Hotel on Thursday 1 May, will see the recently retired Chairman of Goldman Sachs Asset Management and best-selling author of The Growth Map share his views
Enhance Group, a Jersey-based investment consultancy firm, has selected Unity NXT AIFMD Transparency Reporting from Confluence for its AIFMD transparency reporting requirements.
“Considering the highly detailed and complex task of collecting and validating the data, calculating the responses and filing the reports electronically in the specific technical and language requirements of multiple regulators, we were looking for a robust technology solution that provided us with accuracy, control and a fully auditable process,” says Enhance Group alternative investment consultant Nicola Le Brocq.
“Confluence has deep expertise in alternative investment data management and automation and a proven track record with similar
Linedata has extended the capabilities of Linedata Reporting to include mobile access to fund data via smart phone and tablet and secure order entry on tablets for investors away from their desks.
This capability is being used by Linedata’s back office clients across North America and Europe.
Linedata Reporting now enables Linedata’s fund accounting, administration and transfer agency clients to provide a secure, mobile reporting and order entry facility for end investors. It caters for a wide variety of mobile devices.
The information can be tailored to the individual’s needs, and the live reports are badged with the
For the most part a lot of the drama surrounding the role of depositories and prime brokers under AIFMD has subsided. All parties concerned have pretty much fallen into line and are clear with what everyone’s roles and responsibilities will be. This is certainly true of Deutsche Bank who are fully AIFMD-compliant and already actively engaged in signing depository agreements with clients.
“We have a model that looks at sole depository services and how that might look in terms of level of reporting, level of due diligence required. We’ve already taken on board mandates where we act solely as the
ConceptONE LLC specialises in regulatory and risk reporting, an area of expertise that is fast gaining prominence as alternative fund managers begin to comprehend the enormity of regulatory compliance.
“We have developed a regulatory enterprise risk management solution – RegERMTM – specifically to meet the regulatory reporting challenge,” states Gary Kaminsky (pictured), Managing Director, Global Regulatory & Compliance at ConceptONE.
“It’s a holistic system because regulatory reporting now comes in many forms: not just Annex IV reporting under AIFMD, but Forms PF and CPO-PQR under Dodd Frank and EMIR and ESMA short selling.”
Annex IV reporting shares certain
Both depositories and fund administrators face huge demands from a data management perspective under the AIFM Directive. For any depository appointed by an AIFM running an onshore hedge fund, the scope of responsibility is greater than that required under a depository lite scenario for AIFMs running non-EU funds. This is because of the strict liability placed on the depository to return assets to the AIF in the event that something unforeseen happens and assets are lost.
Combined, the depository to an alternative investment fund (AIM) will have three core tasks to perform safekeeping of assets, cash monitoring, and general operational
Special Reports
FeatureD
- Insight
