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By Gavin Byrnes, UBS Fund Services – The Alternative Investment Fund Managers Directive (“AIFMD”) has caused much rancour and debate over the last few years but at last the end is in sight. Some of the more challenging aspects of the Directive have centred on the Remuneration and Depository provisions, which the industry as a whole has struggled to understand and establish within their businesses.
Below are some of the practical challenges and considerations that managers should already be addressing pertaining to their Depository arrangements; in particular Article 21 of the Directive, which is still a provision where managers face
SuMi TRUST Global Asset Services provides sophisticated fund administration and custody services in the UK and Ireland and is backed by Sumitomo Mitsui Trust Bank Ltd (SMTB), the largest Trust Bank in Asia with over USD3tn in assets under custody.
David O’Keeffe (pictured) is the CEO of SMT Trustees (Ireland) Limited, the Irish Trustee/Custodian company. He notes that with SMTB’s A+ rating by Standard & Poor’s, a custodial network that extends into 100-plus markets, and the strength of a considerable balance sheet, SuMi TRUST can support alternative investment fund managers as they clamber to appoint a depository – either in an
The Alternative Investment Fund Managers Directive (AIFMD) has many moving parts for alternative investment fund managers to get their heads around. But perhaps one of the most salient issues they face – particularly managers running offshore funds – is the requirement to appoint a depository.
The vast majority of hedge fund managers have never had to do this before and whilst much of the dust has settled in terms of cost impact, there are still a lot of operational and practical details that managers are looking to get answers for.
At the heart of this is determining the type
eFront has launched FrontPM, a set of portfolio monitoring and analysis capabilities that aims to streamline and automate the gathering of portfolio company data and enable sophisticated performance analysis and reporting.
Investment managers will be able to dedicate more time to portfolio analysis and more quickly perform tasks such as responding to investor inquiries and generating quarterly reports. They will produce more accurate reports and streamline the portfolio company valuation process while spending less time troubleshooting and auditing their analyses.
Managers can enable their investors to easily receive and incorporate FrontPM output by generating AltExchange documents, the industry standard
Institutional equity derivatives broker Macro Risk Advisors has launched Macro Risk Solutions, a firm that advises clients on how to strengthen investment portfolios through periods of market uncertainty.
Using a research process focused on global risk analysis, and leveraging expertise in OTC derivative trade construction, the firm will help clients anticipate and hedge against areas of systemic market risk.
The independent and non-transactional based advisory model gives clients confidence they are achieving optimal outcomes when risk managing their portfolios with help from Macro Risk Solutions.
"The past five years have demonstrated the ongoing instability of the financial system
The Swiss banking group SYZ & CO is now turning to Scandinavia with the registration of 12 of its OYSTER funds in Sweden.
The Swedish client base is of particular interest since more than three quarters of Swedes invest in investment funds, making it an important European market.
Already registered in 10 European countries, OYSTER, the funds family of the SYZ & CO Group, is now marketing 12 of its funds in Sweden. These are OYSTER European Opportunities, OYSTER European Selection, OYSTER Japan Opportunities, OYSTER US Value, OYSTER US Selection, OYSTER Emerging Opportunities, OYSTER Global High Dividend, OYSTER Market
Omgeo’s Central Trade Manager (Omgeo CTM) community has increased by 33 per cent in 2013, with the addition of over 150 broker/dealers and 280 investment managers.
More than 1,700 clients globally are now using Omgeo CTM, a central matching platform for cross-border and domestic equity, fixed income, exchange-traded derivative (futures and options) and contracts-for-difference transactions.
During this time, total equity and fixed income volumes on Omgeo CTM also increased by 82 per cent.
Omgeo CTM community growth has been attributed to global market participants’ increased desire for automated, post-trade solutions that reduce risk and increase efficiency.
Community
Cordium has acquired Zodiac Advisory Services, a provider of compliance, risk, accounting and governance services for the investment management industry in Malta. 


The acquisition is Cordium’s third in as many months, following the purchases of The Sigma Partnership and HedgeStart in December 2013 and January 2014 respectively.
The deal gives Cordium a presence in Malta, which is rapidly becoming a prime jurisdiction for asset managers across the globe for setting up both funds and fund management companies. 


An EU member since 2004, Malta is an attractive base from a cost and tax efficiency point of view. It provides
The Hedge Fund Association (HFA) has announced the results of the 2014/2015 board of director’s election.
HFA members in the US, Europe, Asia, Australia, Latin America and the Cayman Islands elected 15 leaders to work on behalf of the global hedge fund industry, including over 10,000 hedge funds in the US and abroad which collectively manage in excess of USD2.8trn in assets, institutional and high-net worth investors, and industry service providers.
“I am honoured to continue to serve alongside Ron Geffner, David Friedland and all of the HFA’s new and returning board members,” says HFA president Mitch Ackles (pictured). “In
Propellr, an investment firm specialising in alternative assets, has launched its digital platform to help accredited investors access institutional-level opportunities.
"We're taking the kind of private placement deals usually found in hedge funds and making those deals available to the public," says Propellr CEO Todd Lippiatt. "If they're good enough for big institutional investors, why shouldn't a wider swath of investors also benefit? Every investor should have access to deals that provide healthy returns."
Propellr enters the investment crowdfunding market with USD6m in commercial real estate structured debt offerings.
Aristone Realty Capital (ARC), a New York-based private commercial
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