Latest News
Gibraltar has become a full signatory to the Multinational Memorandum of Understanding (MMoU) of the International Organization of Securities Commissions (IOSC).
Nicola Smith, managing director of hedge fund administrator Helvetic, says: “This is a significant move as it bolsters Gibraltar as a location for international hedge funds looking for a geographic foothold within the AIFMD zone."
The passport system established under the Alternative Investment Fund Managers Directive allows funds to operate throughout the EU once they have received regulatory approval in one member country. The result has been an increased level of interest from international fund managers seeking territories
As the relentless bull market march in equities continues, alarm bells are ringing in many bear camps around the world, says Peter Garnry (pictured), head of equity strategy, Saxo Bank.
The talk is that equities are overvalued and many different indicators such as P/E Shiller and market capitalisation to GDP are presented as evidence. Our view is that equity valuations have finally reached normality and the multiple-expansion party is probably over for now. Thus rising stock prices are now solely dependent on revenue and earnings growth.
Let us look at the cold facts. Measured on six valuation metrics, global equities
BNP Paribas and Morgan Stanley have joined EurexOTC Clear for Interest Rate Swaps (IRS), Eurex Clearing’s central counterparty service for OTC derivatives, increasing the total number of clearing members to 32.
“Joining EurexOTC Clear is a major element of our approach to offer a full scope of OTC CCP services to our clients all over Europe. Eurex Clearing's CCP offering together with our expertise will enable our clients to have a choice of CCP provider and prepare for OTC clearing prior to the start of the EMIR mandatory clearing date,” says Gavin Dixon, global co-head of FI clearing at BNP
The European Energy Exchange (EEX) has become the new majority shareholder in Cleartrade Exchange (CLTX), a Singaporean Futures Exchange founded in 2010.
EEX has taken a 52 per cent holding in CLTX. The transaction has been financed from EEX book cash.
The acquisition was agreed in Q4 2013 with all regulatory approval completed in December.
Peter Reitz (pictured), chief executive officer of EEX, says: “CLTX has succeeded in becoming an important execution exchange for commodity derivatives in a remarkably short space of time. Its core asset classes are a good fit with our existing markets. Combined with the
Brooks Macdonald Funds Ltd (BMF) this week announced the imminent launch of the IFSL North Row Liquid Property Fund, believed to be the UK’s first actively managed UCITS core property fund. The fund is expected to launch in February and will be managed by Steven Grahame. He will be supported by Dr. Niall O’Connor as deputy fund manager.
The IFSL North Row Liquid Property Fund will offer investors liquid exposure to the global real estate markets by investing mainly in property derivatives, as well as property equity and debt, to gain exposure to direct property markets. The open-ended fund will
Jennifer Grady and Craig A Newman have been named as managing partners of Richards Kibbe & Orbe (RK&O).
The pair succeed Kenneth Werner who has served as managing partner for the past four years.
Grady joined RK&O in 2004 and is a partner in the firm’s corporate group. She has substantial experience representing banks, broker-dealers, funds and other financial institutions in connection with transactions in the derivatives, distressed debt and claims trading markets. She has also advised trade organisations and financial institutions in connection with the evolving regulatory treatment of loan-based derivative transactions. Grady is a member of the firm’s executive committee.
Celebrated for its prestige, glamour, and exclusivity, fine wine represents a significant and intriguing opportunity for the medium to long term investor.
In November 2013 a case of 1978 Romanée-Conti was sold at auction in Hong Kong for $476,280, making those twelve bottles of Burgundy the most expensive case of wine ever sold. This was an exceptional event that made the news worldwide, a dramatic illustration of how the romance, heritage, and glamour attached to the great names of the wine world helps transform them into Veblen goods, whose high price increases rather than diminishes their desirability. Although spectacular, the
INDOS Financial Limited has received authorisation from the Financial Conduct Authority (FCA) as an Article 36 Custodian to provide AIFMD depositary-lite services to non-EU alternative investment funds.
INDOS is the first independent UK authorised depositary specialising in hedge funds.
Following the introduction of the AIFMD, many hedge fund managers are required to comply with the so-called ‘depositary-lite’ regime. Managers need to identify depositary providers such as INDOS in order to continue marketing their funds to EU investors after 22 July 2014.
Bill Prew, Founder and CEO of INDOS, says: “Being the first independent firm to obtain an Article 36
Ultimus Fund Solutions has launched a non exchange-traded closed-end fund service, allowing alternative investment managers access to the ERISA retirement plan market in a registered fund structure with fewer operational constraints than most typical retail fund offerings.
Financial Solutions Inc (FSI) is the first manager to leverage Ultimus’ closed-end fund offering.
Ultimus will provide FSI with the operational expertise and outsourcing services necessary to support its Low Beta Absolute Fund structure, including fund administration and accounting, fund compliance, and unitholder servicing and reporting.
While often underused, non exchange-traded CEFs are becoming recognised as the most flexible registered fund
S&P Capital IQ Real-Time Solutions has extended its QuantFEED and QuantLINK solutions through Hong Kong Exchanges and Clearing’s (HKEx) Orion programme.
The new service provides participants with faster access to both trading platform and market data services.
The launch of the HKEx Orion Market Data (OMD) Platform and Orion Central Gateway (OCG) programme illustrates the growth of client demand for market access, connectivity, speed and efficiency across Asia. The use of S&P Capital IQ’s products through these portals will enable flexibility and faster access to low latency market data, alongside a broader scope of connectivity across major financial capitals
Special Reports
FeatureD
- Insight
