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The Vice Mayor of Shanghai has recognised the quality and stability of Guernsey’s financial services industry.
Tu Guangshao voiced his support for Guernsey as a well-regulated, compliant and cooperative international finance centre recognising the island’s “great achievements in financial regulation and development” during meetings in Shanghai last week with a Guernsey delegation, which included the island’s Chief Minister, Peter Harwood.
Harwood (pictured) says: “To receive this endorsement from Tu Guangshao, Vice Mayor of Shanghai, is very welcome. It reaffirms the strong relationship the Island has developed over time with the Vice Mayor since he first visited Guernsey in 2008,
Confluence, a provider of automated data management solutions for the investment management industry, has appointed Jimmy Harrington as a global sales account executive.
As part of the growing team in Europe, Harrington will be responsible for expanding Confluence’s global market presence there, particularly in the UK and Ireland.
“Jimmy brings an extensive track record of success in helping financial services companies leverage technology to solve the complex business problems inherent in today’s global economy,” says Todd Moyer, senior vice president of global sales, who leads Confluence’s international expansion efforts. “Jimmy will be a pivotal resource to asset managers and
Four third party administrators (TPAs) have selected Calastone for automated re-registration.
Bank of New York Mellon and Northern Trust are now live with the service, IFDS will go live with its fully automated re-registration service later this month, and Capita is set for live in December.
Legal & General Investments has been operating this service since the summer, as a provider which administers its own funds.
The service, which complements the TeX initiative brought to the industry by the Tax Incentivised Savings Association, is now fully interoperable with 82 per cent of the fund manager market and 91
The Bitcoin Fund, which is traded exclusively on the EXANTE fund platform and was launched in late 2012, is the best performing hedge fund year to date with a return of 4847 per cent.
The Bitcoin Fund gives institutions and high-net worth individuals secure and real-time access to the bitcoin market with a licensed, regulated product.
Since the bitcoin virtual currency was first launched in 2009 and achieved its initial success, institutional investors and hedge fund managers have sought a regulated investment vehicle for bitcoin placements. EXANTE provided this solution by giving simple access to the Bitcoin Fund.
Jersey Finance has welcomed the awarding of a AA+ Long Term Issuer Default Rating – one of the top international credit ratings – to The States of Jersey by Standard and Poor’s (S&P).
In addition, S&P has also given Jersey a stable outlook and a short term rating of A-1+, again the highest level possible.
Geoff Cook (pictured), chief executive, Jersey Finance, says: “Jersey being awarded the highest international credit rating possible is clearly very welcome news indeed, and provides us with a further globally recognised metric that can support Jersey’s reputation as a stable, robust jurisdiction on the
Veteran high-yield portfolio manager William M Nelson has assumed portfolio management of the Ivy High Income Opportunities Fund, effective immediately.
He takes over fund from Bryan C Krug, who had managed the fund since its inception and is leaving to join Artisan Partners Asset Management.
Nelson joined the firm in 1995 as a fixed income investment analyst specialising in high yield securities. He was appointed vice president and portfolio manager of Ivy Funds VIP High Income (USD644m in assets) in 1999 and portfolio manager of the Waddell & Reed Advisors High Income Fund (USD2bn in assets) in 2008. He
UCITS funds recorded net outflows of EUR15billion in September (compared to net inflows of EUR15billion in August) according to the latest investment fund industry factsheet released by the European Fund and Asset Management Association (EFAMA).
Looking at the figures in more detail, net sales of equity funds rose to EUR14billion, a substantial increase on August which attracted just EUR2billion, while bond funds registered net outflows of EUR9billion; a sign perhaps that investors were willing to put more risk on the table in September. Long-term UCITS recorded net inflows of EUR9billion, up from break-even point in August.
The most revealing
Fixed income portfolio manager Bryan C Krug is to join Artisan Partners Asset Management.
Krug has 14 years of industry experience and seven years of portfolio management experience leading a high-yield investment strategy.
At Artisan Partners Krug will lead a credit opportunities strategy that the firm expects to launch in 2014. Upon joining Artisan Partners he will have the flexibility to develop a team in a way that fits his own investment beliefs and process.
Eric Colson, president and chief executive, says: "Our process for evaluating new investment talent is very thorough and we are extremely patient. As
Tikehau IM, Tikehau Group’s regulated, credit-orientated investment management subsidiary, has launched a pan-European leveraged loan fund – the FCT Tikehau Corporate Leveraged Loan Fund.
Launched in early November, the fund’s objective is to invest in senior secured loans made primarily to European private equity sponsored companies in order to support buyout, expansion, and recapitalisation transactions.
The fund has completed a first closing enjoying strong traction amongst European institutional investors looking to increase exposure to the senior leveraged loan market in Europe.
The FCT Tikehau Corporate Leveraged Loan Fund is the latest offering from Tikehau Group’s EUR2.3bn AUM credit
1650 Wealth Management, a private wealth management firm located in Fort Lauderdale and Miami, Florida, has published an investment guide looking at how the wealthy invest.
The guide reveals investment strategies used by not only the ultra-wealthy, but major institutions and endowments that create total diversification strategies, using alternative investments to protect, grow and preserve their wealth.


Tom Balcom, founder of 1650 Wealth Management and author of the guide, says major institutions and endowments, such as Harvard, Yale and Stanford, face the same challenges as retirees, such as meeting current and future cash flow needs, in addition to addressing
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