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Guernsey’s banking, private wealth, investment and insurance sectors are all featuring in meetings between an island delegation and regulatory authorities, association networks and financial services businesses in Beijing and Shanghai.
Kevin Stewart, Guernsey’s commerce and employment minister, says: “This week has been very positive. We have had a large number of meetings with a range of different regulatory authorities, industry bodies and financial services businesses.
“They have given us the opportunity to highlight that Guernsey is a well-regulated, compliant and cooperative international finance centre and also showcase the strength of the four main pillars of our finance industry –
Dev Sanyal has been appointed as a non-executive director of Man Group with effect from 1 December 2013.
Sanyal is executive vice president and group chief of staff of BP and has held a number of senior financial and line management positions within BP in a global career of more than 20 years.
He has in-depth experience of capital markets, asset management, trading and foreign exchange gained from his role as BP group treasurer.
As executive vice president and a member of BP’s group executive committee, he is responsible for group strategy and planning, group risk management, government
The HFRI Emerging Markets (EM) Total Index gained 3.0 per cent in 3Q13 and 2.5 per cent in October, bringing YTD performance for the EM Index to +4.7 per cent, outdistancing most individual EM local equity markets, according to HFR.
Total hedge fund capital invested in Emerging Markets increased to USD161.0 billion (Chinese RMB 980 B, Russian Ruble 5.29 trillion, Brazil Real 377 B, Indian Ruppee 10.3 trillion, Saudi Riyal 604 billion), the fifth consecutive quarterly record asset level for EM hedge fund capital.
EM performance gains in 3Q13 were led by funds investing in China, Korea, Russia and the
LME Clear has selected The Depository Trust & Clearing Corporation (DTCC), an approved trade repository, as its strategic partner for the new LME reporting service, LMEwire.
The service, powered by LME Clear, will be available by 12 February 2014, the confirmed start date for the reporting obligation for all asset classes, as set out by the European Market Infrastructure Regulation (EMIR).
LMEwire will enable members and their clients to efficiently comply with the new rules mandated by EMIR. LME Clear will be able to transpose and transport all relevant exchange-traded data from the LME's matching system, LMEsmart, directly to
Stanley J Kowalewski has been arrested in South Carolina after being indicted by a federal grand jury in Atlanta for allegedly defrauding hedge fund investors of up to USD8m.
In addition, Kowalewski has been accused of obstructing the US Securities and Exchange Commission’s subsequent investigation of his activities.
“Kowalewski is charged with stealing from the investors who trusted him and then repeatedly lying to them and the SEC about his self-dealing,” says US Attorney Sally Quillian Yates. “The victims of his greed include pension funds, schools, hospitals, and other non-profits who lost over USD8m in hard-earned money, which Kowalewski
By Simon Schilder (Partner) and Oliver Bell (Associate), Ogier BVI – While use of the BVI funds regime (as contained within the Securities and Investment Business Act, 2010 (SIBA)) has, historically, been the preserve of established investment managers operating in the hedge fund arena, the flexibility and cost-effectiveness of BVI private funds can provide start-up investment managers with the opportunity to cost effectively develop marketable track records within the confines of a formal fund structure.
BVI private funds also give family offices and high-net-worth individuals (HNWs) the opportunity to take advantage of domestic estate planning services.
The changing investment landscape
Financial data integration specialist Volante Technologies has launched its TARGET2 Securities (T2S) Accelerator.
The T2S Accelerator is designed to support rapid integration to the T2S settlement platform. It offers full T2S message library including cross field validations and where relevant, off-the-shelf transformations from existing ISO 15022 MT5xx series messages to the equivalent T2S messages.
T2S is to be implemented by the European Central Bank (ECB) in July 2015 and is designed to improve post-trade efficiencies in Europe. Through the removal of barriers across countries, the new T2S settlement rules include changes to the messaging standards that underpin current messaging
eVestment is to offer clients of its suite of analytic solutions for institutional investors access to BarclayHedge’s alternatives data.
“The data from BarclayHedge complements our extensive database of traditional and alternative vehicles,” says Jim Minnick, founder and chief executive of eVestment. “The agreement allows users of any eVestment Analytics solution – including those acquired from PerTrac and Fundspire in 2012 – to consume the same data. As we continue to roll-out our revamped suite of Analytics tools, clients will be able to move much more easily from one solution to another using the same data across our entire platform.”
Linedata has recently upgraded four Luxembourg-based custodian and fund administrator clients to the latest version of Linedata Compliance.
Leveraging Linedata Compliance for its breach management and stronger internal controls through a maker/checker (four eyes) review process, investor service providers are able to take advantage of full audit trails and enhanced rule and formula builders.
Superior historical breach views allow custodians and administrators to review and compare results for historical periods of time alongside current breach management reports.
As regulators continue to increase their level of scrutiny into alternative investments, the forthcoming AIFMD regulations place an additional burden on
Forward Management has added veteran sales professional Brad Schulter to its sales team.
Schluter has joined Forward as vice president, institutional sales. He brings a long track record of growing business by establishing strong relationships with key institutional clients.
"We understand the importance of working successfully with a variety of investment professionals in different distribution channels. With the addition of Brad, Forward continues to focus on fostering strong, long-term relationships with our institutional clients," says Clay Smudsky, managing director, head of distribution at Forward. "We believe the most critical component of working with our clients is understanding their specific
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