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The “patchwork quilt” of regulatory requirements resulting from European Union member states exercising discretion under the Alternative Investment Fund Managers Directive is likely to deter many non-EU firms from operating in the market – but that need not be the case, according to Sturgeon Ventures, the regulatory incubator.
The National Private Placement Regime enables fund managers to market hedge funds in the EU that are ineligible for passporting under the AIFMD, either because they originate outside the European Economic Area or they are managed by non-EEA managers.
It is estimated that around 17 of the EU member states intend
By Sue McGillion-Moore, Director (KPMG in the US)
Mon, 9/12/2013 – 16:03
By Craig Bridgewater, Managing Director (KPMG in Bermuda), Neale Jehan, Partner (KPMG in the Channel Islands) and Andrew Schofield, Director (KPMG in the Cayman Islands)
Northern Trust has enhanced its collateral management system to include forward settling mortgage-backed securities (MBS) in response to new margin recommendations affecting asset managers that use the securities in a variety of fixed income trading strategies.
Offered as a component of investment operations outsourcing for asset managers, Northern Trust's collateral management service supports two-way variation margin recommended as of 31 December 2013 by the Treasury Market Practices Group (TMPG), which is sponsored by the Federal Reserve Bank of New York to establish best practices for the Treasury, agency debt and agency MBS securities markets.
The forward-settling nature of most
Landbank of Taiwan, Mega International Commercial Bank and Bank of Taipei have appointed Calastone for the execution of offshore fund transactions via the Taiwan Depository Clearing Corporation (TDCC) fund order routing service.
TDCC official figures show Calastone now has 32 fund ranges connected through the TDCC, which is significantly more than any other service provider operating in Taiwan.
Higher fund coverage allows distributors selecting Calastone to immediately maximise their offshore fund automation rate, allowing them to drastically reduce their operational costs and risks while improving their service levels.
Calastone now handles over one million funds messages per month
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has expanded its application hosting service partnership network.
The Abacus partnership programme provides hedge fund and private equity firms with access to fully hosted and managed business applications on the AbacusFLEX private cloud platform.
By increasing its application hosting service, Abacus offers greater overall business and workflow efficiency to fund managers. Hosting applications in the private cloud also ensures better system resiliency, redundancy and data back-up capabilities, while providing support services from round-the-clock IT staff.
The AbacusFLEX private cloud platform enables funds to
BNY Mellon has launched a new service for fund managers that helps them identify, aggregate and manage the regulatory reporting requirements of the Alternative Investment Fund Manager’s Directive (AIFMD).
Under AIFMD, alternative investment fund managers (AIFMs) must file a specifically formatted report with their home member state’s supervisory authority, or national competent authority.
The report requirements are extensive and cover aspects of both the fund manager and the fund, such as investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, plus detailed information on the funds’ risk profile.
Ten out of 13 Lyxor Indices ended the month of November in positive territory, led by the CTA Long Term Index (+4.2 per cent), the L/S Equity Market Neutral Index (+1.7 per cent) and the CTA Short Term Index (+1.6 per cent).
The Lyxor Hedge Fund Index posted a positive performance close to one per cent in November (+5.8 per cent YTD).
Financial markets remained conducive to hedge funds in November. Macro data published over the month was mixed but monetary policy kept erring on the dovish side particularly in Europe where the ECB cut the refi rate. The
Equinox Financial Group, a provider of alternative investments, has consolidated multiple brand names under one corporate brand mark, "Equinox Funds”.
The company has also launched a new website platform and alternative investment education programme, effective 9 December 2013.
As part of the initiative all of Equinox's business affiliates, including Equinox Fund Management, Equinox Group Distributors, Equinox Financial Solutions and Equinox Institutional Asset Management, will fall under the Equinox Funds brand name umbrella.
Product names for certain mutual fund and commodity pool investments offered through Equinox Funds will also change, incorporating the Equinox brand as follows:
— MutualHedge
DealVector, a provider of a secure electronic communication network for the fixed income and structured credit space, has launched InvestorLink to streamline communication in the structured credit markets.
Created primarily for issuers, collateral managers and trustees, InvestorLink opens a direct communication channel between deal administrators and holders.
InvestorLink allows deal administrators, investors, lawyers and other affiliated parties to create asset-specific micro-sites to communicate with holders about an upcoming event. An InvestorLink micro-site allows the author to describe the event and actions required, make pertinent documents available for download, and create a customised URL for distribution through DTCC, Euroclear, Clearstream
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