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The global trading industry has begun implementation of the guidelines set down by the FIX Trading Community to reduce operational risk and enable more efficient set up of clients on OTC electronic trading platforms.
The Trading Enablement Standardisation Initiative (TESI), launched in January 2013, has been working with a number of platforms to promote automation and standardisation of important client information such as:
• Enable a brand new buy-side trader
• Setting the risk profile for a new buy-side trader
• Enabling new products for an existing buy-side trader
By using the FIX Messaging language to transmit this
AllianceBernstein has appointed Michael H Conn as managing director – strategy, operations and development, supporting the firm's fund of funds business.
He will be based in Los Angeles and report to Marc Gamsin, head of AllianceBernstein's alternative investment management group.
In this newly created role, Conn will work closely with Gamsin to develop the business strategy and new products for the group, as well as support existing and potential clients. He will also collaborate with the broader alternatives team to enhance the firm's diverse product offerings and help clients better understand the role alternatives can play in their portfolio.
As global markets plunged in the first month of the Chinese New Year, the trades that generated the most profit in 2013 came under fresh critique. One of the most noteworthy dips was seen in Japanese markets, where the Nikkei fell nearly 10 per cent in the last month and the yen gained 3 per cent against the US dollar.
These swings brought losses to Japan-focused hedge funds, which won the crown with outsized gains in 2013. Japan was not the only market that reversed course. Emerging markets, EU and U.S all shook at the beginning of the year. The S&P 500
Iconic is launching a turnkey Malta authorised, EU-compliant hosted-funds platform enabling EU and non EU based fund managers to run their own fully supported and administered funds.
In addition, for those larger intermediaries which have an asset management capability Iconic can support this new asset management area of their business through this platform.
The platform provides EU-compliant substance infrastructure and can establish either hosted feeder funds or host-flexible non-UCITS fund structures. Later in 2014, Iconic will launch a AIFMD & UCITS IV funds capability and services menu.
“Not all hosted-fund platforms are created equal,” says David Barclay-Miller, co-founder
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
