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Hedgeweek has launched a new micro site for KPMG, one of the financial industry’s leading Audit, Tax and Advisory firms.
The aim of the micro site is for KPMG to deliver a series of insightful articles that focus on key regulatory and compliance developments within the hedge fund industry. Currently, there are five articles in the series for readers to access, spanning a range of relevant topics affecting today’s hedge fund manager community. Topics include governance and risk management for alternative investment funds under AIFMD, IRS safe harbor regulations governing the assignment of derivatives, operational challenges of collateral management and
Alternative investment managers Gottex Fund Management and EIM Group have reached agreement on the proposed merger of their businesses.
The deal, which is subject to certain conditions including approval of Gottex shareholders, will establish a global investment management company with headquarters in Switzerland and offices in London, Boston, New York, Hong Kong and Shanghai.
The combined group will provide its clients with solutions in multi-asset, multi-manager and Asia-focused investments as well as risk and infrastructure services.
The all-share transaction is based on an exchange of shares where the EIM shareholders will receive up to 14 million newly issued
Fiona Le Poidevin, chief executive of Guernsey Finance, has just returned from India where she was showcasing how Guernsey can help meet India’s investment needs.
The Indian economy remains both a fascinating and complex one. While a recent forecast by the Reserve Bank of India saw growth projections scaled down to five per cent for 2013/14, this figure is still attractive to those in the West who are looking to provide inward investment.
Guernsey’s funds industry, with its considerable experience in infrastructure funds and raising capital through European markets, is well placed to assist India with the challenges it
Genscape, a provider of energy information for commodity and financial markets, has launched plans for a new combined heat and power (CHP) service for the German power market.
The German power market is a critical hub that has a significant influence on power flows across Europe.
The German CHP service is a new feature in Genscape’s Power RT platform, a source for real-time power market data.
Through the use of their patented, proprietary monitoring techniques, Genscape will for the first time be able to provide their customers with real-time CHP data, estimating the power production of the entire
David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, comments on Facebook’s inclusion in the S&P 500…
On 11 December, after the market closed, S&P Dow Jones Indices announced that Facebook will join the S&P 500 as of the market open on Monday, 23 December. This was probably one of most predicted, asked about and commented on additions to the S&P 500 in the last few years. Measured by the number of suggestions to (or demands of) the index committee, Facebook ranks with other tech darlings including Google, Yahoo and AOL.
Facebook closed at USD49.38 on 11
Alceda Fund Management SA announced this week that it had launched the ECPI MEGA TREND FUNDS-ECPI Sustainable Global Mega Trends in partnership with ECPI Group, a leading independent index solution and advisory provider.
The fund has been registered for institutional and retail investors in Switzerland, Austria, Germany and Luxembourg and for institutional investors in Italy. ECPI believes that by incorporating environmental, social and governance (ESG) analysis into the investment decision-making process it offers long-term value creation for both investors and society at large.
Climate change, emerging markets, scarcity of resources and population dynamics are key areas of focus in the
Fitch Ratings has updated its Investment Manager and Alternative Funds Criteria report, which applies to the ratings of traditional investment managers, alternative investment managers, business development companies and alternative funds.
The updated criteria report replaces the existing report of the same name that was published on 17 December 2012.
Changes to the criteria report are solely intended to provide appropriate clarifying language regarding Fitch's analytical approach, and do not reflect any changes in Fitch's analysis. As such, no rating implications arise as a result of the updated criteria report.
Amundi Alternative Investments SAS (Amundi AI) has obtained AIFM authorisation from the French securities regulator (Autorité des Marchés Financiers) for all of its investment solutions.
The AIFM directive, transposed by the EU member states on 22 July, regulates alternative fund managers for the first time as part of a dedicated framework.
Amundi AI says the development will enable it to offer institutional and private wealth clients access to alternative funds within a harmonised European regulatory framework.
In addition to the UCITS format, the AIFM directive has created a new label with an international scope that combines:
– Performance
The US Patent Office has awarded Green Key Technologies a patent for the design of its OTC liquidity allocation process called Decline Ratio Matching.
Within Green Key’s Block Pool, a quote management platform used by OTC derivative participants, brokers are able to rank traders in the matching algorithm according to performance metrics such as their “decline ratio” by dragging them up or down in a GUI.
“The problem with indicative markets is the no obligation-optionality embedded into each market maker quote. Since quotes are not the same as firm orders, brokers are often probed with indications from traders searching
The US Securities and Exchange Commission (SEC) has charged a London-based hedge fund adviser GLG Partners and its former US-based holding company with internal controls failures.
The failures led to the overvaluation of a fund’s assets and inflated fee revenue for the firms.
GLG Partners LP and GLG Parters Inc have agreed to pay nearly USD9m to settle the SEC’s charges.
“Investors depend upon fund advisers to have proper controls in place to ensure that valuations and fees are not inflated,” says Antonia Chion, an associate director in the SEC’s division of enforcement. “GLG’s pricing committee did not
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