Latest News
Using an AIFMD compliant depositary network offers a range of benefits to support private equity and real estate fund managers.
The requirement for private equity and real estate fund managers to appoint an independent depositary under the Alternative Investment Fund Managers Directive (AIFMD) is a major development and, for many managers, a move into uncharted territory. From an operational point of view, AIFMs are examining in detail the steps they will have to take to become AIFMD-compliant. They are also determining the level of information that they will need to provide to their depositary.
Private equity and real estate
Picking the right independent director is not as simple as you might think. Geoff Ruddick of International Management Services (pictured) takes a look at the key things to consider…
One of the first considerations when looking for an independent director is the underlying rationale behind your search. The main reason will of course be the desire for effective corporate governance. In today’s environment, corporate governance is no longer a luxury, but a requirement. Regulators and exchanges are increasing their scrutiny and investors are demanding it – so should everyone.
Aside from corporate governance, tax considerations are also important. Independent directors
Euronext has launched an enlarged suite of single stock futures on a range of its most liquid Euronext listed stocks.
The launch enhances the existing offering of individual equity options, index futures and options.
This initiative will offer market participants a broader choice of marketplaces for single stock futures and will provide the trading community with significant efficiencies through the combination of Euronext’s trading engine UTP, and clearing of resulting trades through LCH Clearnet, the European central counterparty.
It is envisaged that the initial offer of 86 single stock futures will be expanded over time to meet growing client demand
Insolvency petition filings in the Cayman Islands spiked more than 30 per cent in 2013 when compared with 2012, resulting in the highest number of filings in the past three years, according to Appleby.
The increase reversed a downward trend in the number of petitions filed in 2011 and 2012 that had followed high numbers in 2009 and 2010 driven by the global financial crisis, according to the firm’s Snapshot report on petition filings in the Cayman Islands going back to 2008.
“The 2013 Cayman petition statistics suggest that investors are increasingly losing patience with investment managers’ efforts or promises of
The International Securities Exchange (ISE) has not appealed a federal court decision that rejected ISE's attempt in the New York courts to challenge S&P Dow Jones Indices’ (SPDJI) rights to control the use of the S&P 500 and the Dow Jones Industrial Average as the basis of index options.
CBOE holds an exclusive license to list options on the S&P 500 index, the Dow Jones Industrial Average, and select other indices calculated and published by SPDJI.
ISE's decision not to appeal brings to an end more than seven years of unsuccessful challenges to SPDJI's and CBOE's rights.
Most
Fortress is launching an affiliated manager platform as part of the firm's growth strategy in the liquid alternative investment space.
The platform will allow Fortress to take an economic interest in high potential start-up and established funds, and to provide a fee-for-services model for funds seeking to leverage Fortress’s technology, infrastructure and client relationships.
The first fund to join the new platform will be the firm’s own Singapore-based Fortress Asia Macro Fund (FAMF), managed by chief investment officer Adam Levinson. Levinson, a long-standing member of Fortress’s senior leadership team, is expected to join Fortress’s board of directors and will
Global and US long/short equity strategies would appear to be the top two most favoured strategies among investors in Q1 according to the latest Alternative UCITS Barometer report by ML Capital.
The report finds that there is three times more interest in allocating to market neutral funds, which contrasts to the overall view of investors’ increased appetite for riskier assets. The report finds that some investors favour a barbell approach by strategically balancing an overweight position in long/short equity with a market neutral allocation. Some investors are expecting potential headwinds in the markets – look at what’s happening in emerging
Union Bancaire Privée (UBP) has reported a 10 per cent year-on-year rise in its assets under management to CHF87.7bn (USD98.6bn) as at 31 December 2013 from CHF80bn at the end of 2012.
The group’s operating profit came to CHF218.3m (USD245.5m), up more than 20 per cent on the previous year.
UBP’s consolidated net profit came to CHF152m (USD171m) after provisions compared with CHF175m at the end of 2012.
The increase in the operating result is attributable to net inflows of funds from private and institutional clients, as well as to sound asset management performances and to the effects
By Ron Kashden, founder of Ingenious Initiatives – Just when you think the regulatory landscape couldn’t get any tougher, government agencies increase their reporting requirements. Whether it’s a US Commodity Futures Trading Commission (CFTC) rule or compliance with the Foreign Account Tax Compliance Act (FATCA), there is a growing burden to conform to government regulations. While there’s no doubt that a fund accountant’s job has become more complicated, there are measures that can be taken to lessen the load. Here are three tips that will help simplify reporting.
Categorise the fund’s income
With Regulation 4.22(a) from the CFTC, funds now
In an effort to simplify its electronic options trading platform, BofA Merrill Lynch has consolidated its options algo offering into four strategies: Clean Sweep, Fast Sweep, Delta-Adjusted and Smart Spreads.
The strategies have incorporated more flexibility while minimising complexity and allow for full customisation.
“Options traders are looking for sophisticated strategies without all the intricacies on the front-end,” says Jonathan Werts, head of electronic derivatives. “In response, we’ve revamped our algo offering by reducing parameter complexity and streamlining the process, making strategy selection more intuitive for traders.”
Clean Sweep and Fast Sweep are liquidity-seeking algos that leverage smart posting
Special Reports
FeatureD
- Insight
