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Unigestion has appointed Nicolas Rousselet as Managing Director, Head of Hedge Funds. He also becomes a member of Unigestion’s Executive Committee.
Based in Geneva, Rousselet will lead the development of Unigestion’s highly successful Funds of Hedge Funds business, with assets under management exceeding USD 3.7 billion managed on behalf of institutional clients. With the support of the Hedge Funds Investment Committee, Rousselet will continue to deepen Unigestion’s research to offer value added investment solutions to diversify institutional investor’s traditional asset allocation. The members of this committee have an average of 25 years industry expertise and notably includes Bernard Sabrier, Chairman
- 01/02/2012
- 01/02/2012
The Blue Ink Composite (BIC), which tracks the performance of around 100 Hedge Funds in South Africa, recorded an 8.65% increase in 2011, outperforming the JSE All Share Total Return Index (ALSI) by more than 6%. This outperformance was achieved with significantly less volatility levels than the local equity market.
According to Eben Karsten (pictured), portfolio manager at Blue Ink Investments, Long-Short Conservative hedge funds on average recorded a 9.16% increase over 2011, after gaining 3.47% during the fourth quarter of 2011. Long-Short Aggressive hedge funds recorded a 8.96% increase for 2011, after gaining 5.71% during the fourth quarter.
- 01/02/2012
The National Futures Association (NFA) and MarketAxess Holdings Inc have entered into an agreement that paves the way for NFA to perform regulatory services for MarketAxess’ planned swap execution facility (SEF).
The Agreement establishes a preliminary framework for the exchange of information and the development of technology standards that will enable MarketAxess and NFA to develop, test and launch automated trade practice and surveillance systems and also to develop procedures and processes necessary for MarketAxess to fulfill its SEF self-regulatory obligations. Upon the issuance of the Commodity Futures Trading Commission’s (CFTC) final SEF rules, NFA and MarketAxess anticipate that they
- 01/02/2012
Fund administrator GlobeOp is to be acquired by private equity firm TPG Capital in a deal worth around GBP508 million (USD800 million).
The deal follows GlobeOp’s announcement on 6 January 2012 that it was carrying out a review of its ‘strategic options’ and will see Geo 3, a newly established partnership directly owned by TPG Partners VI-AIV, acquire 100 per cent of the ‘issued and to be issued share capital of GlobeOp’.
Under the terms of the Offer, GlobeOp Shareholders will be entitled to receive 435 pence in cash for each Ordinary Share held. The Offer Price represents a premium
- 01/02/2012
Florida resident Juan Carlos Horna Napolitano has been sentenced to 14 months imprisonment, followed by two years supervised release, for his role in conspiring to obstruct a Securities and Exchange Commission investigation relating to Francisco Illarramendi, a Connecticut hedge fund advisor. Horna Napolitano was also ordered to forfeit USD935,000.
Judge Underhill had previously sentenced a Venezuelan accountant, Juan Carlos Guillen Zerpa, for his role in the conspiracy to obstruct the Commission’s investigation. On 14 December, 2011, Guillen Zerpa was sentenced to 14 months imprisonment, followed by two years supervised release and ordered to pay a USD10,000 fine and to forfeit
- 01/02/2012
The European Commission is prohibiting the planned merger between Deutsche Börse AG and NYSE Euronext because, based on its definition of the market for derivatives trading, it considers the merger to be inadmissible under competition law.
In a statement released today, the Executive Board of Deutsche Börse AG has expressed its disappointment with the commission’s decision:
“This is a black day for Europe and for its future competitiveness on global financial markets. The EU Commission’s decision is based on an unrealistically narrow definition of the market that does no justice to the global nature of competition in the market for
- 01/02/2012
EFAMA has welcomed the publication by the European Securities and Markets Authority (ESMA) of its Consultation Paper setting out future guidelines on UCITS Exchange-Traded Funds (UCITS ETFs) and other UCITS issues.
Broadly speaking, EFAMA supports ESMA’s proposals in favour of increased investor protection through more transparency and additional requirements for securities lending, collateral management and the use of strategy indices. EFAMA also welcomes ESMA’s decision to broaden the scope of its proposed guidelines to all UCITS engaged in the same type of activity, instead of targeting exclusively UCITS ETFs.
Peter De Proft (pictured), Director General of EFAMA, says: “EFAMA
- 01/02/2012
Donald Motschwiller (pictured) is to join Direct Access Partners as managing partner. He will also serve as the CEO of the asset management affiliate of Direct Access Group, LLC, the parent company of Direct Access Partners, LLC.
Ben Chinea, Founder and CEO of Direct Access Partners, says: “We are ecstatic to welcome Donald to lead the asset management business and provide leadership and managerial expertise throughout the entire organisation. He possesses deep securities experience and relationships, proven leadership skills, and a successful track record in executing growth and diversification strategies. His experience, industry reputation and intimate understanding of trading technology
- 01/02/2012
BNP Paribas, following a competitive tender, has implemented a mandate to provide fund administration to Equinox Fund Management (Equinox), a US alternative asset manager with more than USD1.5 billion in assets under management.
BNP Paribas administers a platform of independent fund vehicles accessed by mutual funds sponsored by Equinox. BNP Paribas’ solution captures and values trades in real-time, producing a Net Asset Valuation (NAV) on the same day. Equinox-sponsored mutual funds then use this NAV as part of the process to strike their own NAVs on a daily basis. This daily-NAV solution provides the necessary transparency required to value alternative
- 31/01/2012
European crisis could offer unprecedented opportunities for distressed debt investors, says Galia Velimukhametova (pictured), manager of the GLG European Distressed Fund…
Times of economic austerity provide excellent opportunities to invest in distressed assets. Financial asset prices are usually depressed, but risk aversion means mainstream investors are wary of getting involved. In stressed or distressed scenarios, the valuation of a company’s debt securities can fall disproportionately, as funds whose mandates prevent them from holding bonds once they are in default become forced sellers. Distressed funds can derive substantial profit from purchasing securities at depressed prices which do not fully reflect the
- 31/01/2012
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