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Long/short equity emerging market specialist Finisterre Capital this week announced the launch of a standalone UCITS-compliant fund in response to client demand stemming from Solvency II requirements.
The UCITS-compliant Finisterre Emerging Market Debt Fund launched with USD55m of seed capital and deploys a similar long/short approach to that operated across Finisterre’s existing strategies. The fund has an unconstrained mandate, and will invest in a blend of global emerging market sovereign and corporate credits, local fixed income instruments, local and hard currencies and other debt securities. The fund seeks to generate high single digit returns over the cycle and offers bi-weekly
ACOLIN has teamed up with Renovaré Global, an independent consultancy, specialising in risk and operational due Diligence for off-shore funds, to provide representation for EU-AIFs and non-EU AIFs for distribution to qualified investors.
The revised Collective Investment Schemes Act (CISA), which came into effect on 1/3/2013, requests foreign funds that want to distribute exclusively to qualified investors, to designate a Swiss legal representative and a paying agent until 28/2/2015 at the latest. In its Distribution Circular 2013/09, the Swiss Financial Market Supervisory Authority (FINMA) has solidified the requirements of market participants.
ACOLIN Fund Services will now offer the firm’s comprehensive
Bermuda’s asset management sector has launched a high-level targeted business development roadshow in New York designed to attract asset management and fund business to Bermuda.
Emphasis is being placed on the recent moderniszation of Bermuda’s fund legislation which facilitates fast-track fund registrations.
In collaboration, the Bermuda Ministry of Economic Development, the Bermuda Business Development Agency (BDA) and its Asset Management Focus Group and Innovation Committee, along with a group of leading Bermuda business executives, lawyers, fund administrators and accountants, provided the necessary resources to support this business development initiative.
The initiative was launched with an exclusive reception at
The Newedge Macro Trading Index (Quantitative), which represents quantitative macro strategies, rose 2.31% in September, marking the index’s best month since July 2012.
In addition, the top YTD performer through September remains the Newedge Commodity Trading Index (Equity), which has returned 16.08% over the nine-month period.
The Newedge CTA, Trend, and Short-Term indices fared poorly in September, finishing down 0.97%, 0.59% and 2.08%, respectively.
Ryan Duncan, Global co-head of Newedge’s Advisory Group for Alternative Investment Solutions, says: “September returns of the Newedge Indices were mixed. Performance amongst constituents remains dispersed as well. In 2013, the average pairwise correlation
Markit has launched the Markit iBoxx Liquid Ultrashort indices, the first global cash bond indices to provide a balanced representation of the ultrashort investment grade credit universe.
The ultrashort market carries interest rate duration risk of one year or less.
These indices have been licensed to BlackRock for the launch of three exchange traded funds (ETFs) under its iShares brand.
This new index set, which includes three indices covering the USD, EUR and GBP markets respectively, benefits from a comprehensive construction approach that ensures diversified investment grade credit exposure. This exposure is obtained by holding a combination of
A global survey of hedge fund managers reveals that they are making significant investments in their firms' infrastructure to comply with new regulatory requirements.
According to The Cost of Compliance , a new report produced by KPMG International, the Alternative Investment Management Association (AIMA) and the Managed Funds Association (MFA), the average spend on compliance was at least (US)USD700,000 for small fund managers, USD6 million for medium-size fund managers, and USD14 million for large fund managers.
The survey, which is one of the largest global surveys of hedge fund managers, was conducted between May and August of this year and
Millennium Trust Company is to be a recommended custodian for investors and offering groups using the FNEX.com Private Securities Marketplace.
Investors on the FNEX platform have the ability to source, review and invest in a variety of alternative investments and will be able to select Millennium Trust as their custodian of choice.
FNEX is an innovative web-based platform that provides accredited investors, investment advisors, family offices and institutions access to private investment opportunities offered by investment banks and funds across the United States. The powerful distribution platform lists offerings and provides investors with the necessary tools to educate themselves on
Funds under management (FUM) at Man Group totalled USD52.5 billion as at 30 September 2013 – up from USD52.0 billion ((30 June 2013) – according to the company’s latest interim management statement.
Net inflows in the quarter were USD0.7 billion, comprising sales of USD4.1 billion and redemptions of USD3.4 billion with net inflows into GLG alternatives and long only funds being partially offset by net outflows from AHL and FRM funds
Overall investment movement of negative USD0.1 billion in the quarter.
The majority of GLG alternative strategies had positive performance in the quarter, adding USD0.3 billion to FUM. GLG long
STOXX Limited has expanded the STOXX GC Pooling Index family by adding 14 new indices to cover the full money market yield curve up to twelve months.
An additional funding rate has also been introduced that measures secured interbank funding rates and volumes in the euro zone at the short end of the money market curve.
The STOXX GC Pooling Indices provide a representation of the secured euro funding transactions taking place on the Eurex Repo GC Pooling Market, and are designed to provide transparent, rules-based alternatives to unsecured interbank benchmarks such as LIBOR and EURIBOR/EONIA.
Furthermore, the STOXX GC
On Monday 14 October, the Channel Islands Stock Exchange (CISX) announced to members that certain of its historic activities have been under investigation by the Guernsey Financial Services Commission (GFSC).
Jon Moulton, Chairman of the CISX, said that the investigations do not relate to current matters but are ongoing and that the CISX has decided not to accept new listings at the current time while it establishes an alternative corporate structure to segregate the historic issues from the operating business.
The CISX has published an operational statement which provided more detail on what this means in practice for current and
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