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Schroders has launched the Schroder GAIA Cat Bond on its UCITS platform.
GAIA (Global Alternative Investor Access) is a regulated platform for UCITS funds designed to give investors easier access to hedge funds.
The new fund invests globally in catastrophe (cat) bonds (minimum 80 per cent) and other tradable insurance-linked securities (ILS). The fund’s exposure will be primarily in regions with a high concentration of insured wealth such as the US, Western Europe and Japan.
The fund will be managed by Daniel Ineichen, who has been manager of the NGAR Secquaero ILS Fund since inception in May 2011;
Hedge funds avoiding the new Alternative Investment Fund Management Directive (AIFMD) framework due to concerns over increased compliance costs are delaying the inevitable, says Helvetic Fund Administration.
According to Nicola Smith, chief executive of the Gibraltar-based hedge fund administrator, hedge funds should work with service providers in order to meet the regulatory requirements of the framework.
The European Securities and Markets Authority (ESMA) have now published the final guidelines on the reporting requirements for the AIFMD, which it hopes will clarify what information must be provided under the regime. Despite this, reports have emerged that only a small number of fund managers in the UK have signed up to
Mendon Capital Advisors Corp, is Hedgeweek’s “Best Long/Short Manager” award winner for 2012.
President and Chief Investment Officer Anton Schutz (pictured), through the primary investment vehicle, Moors & Mendon Master Fund LP, has returned +23.73% YTD and +14.65% annualized from inception in 1996. The Fund invests in US based financial service companies with a specific focus on mid and small cap community banks.
The fundamental premise of the strategy is the inevitability of consolidation of US banks. Several factors are fueling the push to consolidate. Among them are increased regulatory burdens and capital requirements, sluggish organic loan growth
Singapore Exchange (SGX) and the Shanghai Futures Exchange are cooperating in the development of the commodity derivatives markets in both China and Singapore.
The two exchanges signed a memorandum of understanding on the cooperation in Shanghai, China, on 19 October 2013. They will jointly explore areas of cooperation including the development of derivatives for energy, metals, chemicals and commodity indexes. The MOU also covers exchange of ideas and information sharing.
“This cooperation with Singapore Exchange will help the internationalisation of China’s futures market and Shanghai Futures Exchange. It will increase market efficiency, and promote the development of the derivatives
Global growth should remain firm driven by economic strength in developed markets and the backdrop is supportive for higher equity prices, according to a Lyxor research view.
The US economic recovery remains on track despite a drag from reduced government spending and uncertainty about budget resolution. Economic trends in Europe and Japan are also positive and should benefit corporate earnings. The major central banks are erring on the dovish side, flooding markets with liquidity while equity risk premiums remain attractive.
“In this context, we prefer directional equity strategies that benefit from both alpha and beta. Our favourite hedge fund
Craig Botham, Emerging Markets Economist, Schroders on China’s return to GDP growth…
China’s third quarter GDP growth rebounded to 7.8% year-on-year, having decelerated to 7.5% year-on-year in the last quarter. The figure was in line with consensus expectations and reflects the mini-stimulus and fine-tuning measures enacted by Beijing in response to the second quarter slowdown. Equity investors should be cheered that nominal growth recovered more strongly, climbing from 8% year-on-year to 10.4% in the third quarter. This is indicative of growing (but not concerning) inflationary pressure, and is a positive for earnings.
Looking at a breakdown of the figures reveals
BlueBay Asset Management, a manager of fixed income and alternative investments, has appointed Lisa Stuart as director – sales UK & Ireland with immediate effect.
Stuart joins BlueBay from BlueCrest where she worked in a number of roles culminating in consultant relations manager. Prior to BlueCrest, she worked for many publications within the Incisive Media group.
Stuart will focus on driving direct business development efforts in the UK & Irish Institutional channels. She will work alongside Anthony Pickering, director – sales UK & Ireland, in the UK team of five.
Mattias Højmark-Jensen, partner – head of sales, says:
The Securities and Exchange Commission has brought charges against a New Jersey-based investment advisory firm and its owner for misleading investors in a collateralised debt obligation (CDO).
The SEC’s enforcement division alleges that Harding Advisory LLC and Wing F. Chau compromised their independent judgment as collateral manager to a CDO named Octans I CDO Ltd. in order to accommodate trades requested by a third-party hedge fund firm whose interests were not necessarily aligned with the debt investors.
Harding agreed to give the hedge fund firm rights in the process of selecting and acquiring a portfolio of subprime mortgage-backed assets
Guernsey Finance has welcomed an announcement from the Channel Islands Stock Exchange (CISX) that it is once again open to considering new listing applications.
A statement published on the CISX website says that it is “gradually able to apply more capacity at this stage of proceedings to consider new listing applications with no apparent suitability issues.”
Fiona Le Poidevin (pictured), chief executive of Guernsey Finance – the promotional agency for the island’s finance industry internationally, says: “We welcome the announcement from the CISX that it is now once again open to considering new listing applications. This not only demonstrates determination
INDOS Financial, the independent Alternative Investment Fund Management Directive (AIFMD) depositary business, has made two senior advisory and management appointments.
Des Quigley, former Managing Partner of Ernst & Young Ireland, has been appointed non-executive director.
Paul Whelan, Head of Depositary Services, will join on 1 November 2013 from BNY Mellon Trust Company (Ireland) Limited.
Bill Prew, Founder and CEO of INDOS Financial, says: “We are very excited that Des has joined our board as non-executive director and that Paul will join our management team. Together they bring considerable financial services, hedge fund and trustee expertise to the business. These appointments
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