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Custom House Global Fund Services, a provider of financial services to the alternative investment sector, has opened a New York office and expanded its business development team.
Custom House now has seven global locations, over USD40bn of assets under administration and 200 staff.
Joining Custom House in New York is Peter McCulloch and Anthony Stanziano as commercial directors. Both positions will report to Scott Price, head of sales for the Americas, who is located in the company’s US headquarters in Chicago. Internally, Greg Colanto has also been promoted to commercial director in Chicago.
“The opening of a New York office
Amber Capital has launched Amber Equity Fund – a UCITS version of the Amber Italia Equity Fund – on the Alpha UCITS platform.
The Amber Equity Fund is managed by Amber Capital Italia SGR, a Milan based asset management company regulated by the Bank of Italy. The company was established by Joseph Oughourlian, founder of the Amber Capital Group, the investment firm founded in 2001 with main offices in London and New York.
The Amber Italia Equity fund, incorporated in Italy as an approved domestic fund almost four years ago, was already managed by Giorgio Martorelli, portfolio manager of Amber
Philip A Falcone and his advisory firm Harbinger Capital Partners have agreed to pay USD18 million in disgorgement and penalties after admitting wrongdoing in a case brought by the US SEC.
The final judgement handed down by the Honourable Paul A Crotty, United States District Court Judge for the Southern District of New York, also bars Falcone from the securities industry for a minimum of five years.
The SEC filed enforcement actions in June 2012 alleging that Falcone improperly used USD113 million in fund assets to pay his personal taxes, secretly favoured certain customer redemption requests at the expense of
Many equity-hedged and event-driven hedge funds have continued to hold and increase positions during September, and were rewarded as several equity events occurred and markets moved higher.
Anthony Lawler, portfolio manager at GAM, expects to see the trend of equity-hedge and event-driven funds out-performing other hedge fund strategies to continue through the end of the year.
“Equity-hedged and event driven managers remain tactically bullish and fully invested, indeed with some increases in net and gross exposure after the Fed’s ‘no taper’ surprise,” he says. “In September a number of public companies widely owned by event managers announced deals, asset
HSBC Securities Services (HSS) has made key appointments in sales for North America and Europe.
Kevin Skorzewski joins as head of sales for North America. In this new role, Skorzewski will be responsible for building out HSBC’s securities services franchise in the region and will focus on serving the complex needs of asset managers in North America. He will work closely with the product, sales and business development functions to ensure effective delivery of its global platform to clients in the region. Skorzewski will be located in New York.
Skorzewski joins from JP Morgan Chase, where he held the role
SS&C Technologies has acquired Prime Management Limited, a fund administrator and a service provider to investment structures, sponsors and managers in the insurance linked securities market.
Prime currently services 25 managers with USD6bn in assets under administration (AUA) from its Bermuda and Canadian offices. Clients range from emerging managers to large institutional managers.
This acquisition furthers SS&C’s ability to administer insurance linked securities and the funds which invest in them. This includes fund administration, accounting services specific to insurance linked securities, investor services, governance and compliance services, and advice and support to clients on best practices for establishing ILS fund
Federated Investors has expanded its capabilities in trade finance and emerging market debt with added personnel at its London office.
Three investment professionals specialising in trade finance strategies and two specialists in emerging-market strategies have joined Federated Investors (UK).
In addition, Christopher P McGinley, portfolio manager and senior investment analyst, will relocate to London from Federated’s corporate headquarters in Pittsburgh to lead Federated’s trade finance effort in the UK. The new personnel in London will supplement Federated’s experienced trade finance and emerging-market portfolio managers and analysts in the US.
"We look forward to continuing to help clients interested in opportunities for
SunGard is to provide Financial Information eXchange (FIX) connectivity through its SunGard Global Network (SGN) to DelphX to create CentralX, a neutral, centrally-cleared global facility.
The CentralX market will be integrated within SGN to facilitate anonymous all-to-all interaction of orders entered by SGN users and buy-side and sell-side subscribers to DelphX and other participating fixed income ATS/ECNs and linked trading platforms.
"CentralX is specifically designed to serve the growing need for centralised interaction among all fixed income market participants to help achieve best execution, stimulate liquidity and reduce market fragmentation. Our commitment to providing transparency, anonymity and a level playing
September trading volume in CBOE Volatility Index (VIX) futures totalled 2.96 million contracts, a 23 per cent increase from September 2012 and a 15 per cent decrease from the previous month.
Average daily volume in VIX futures during September was 148,039 contracts, a 17 per cent increase from September 2012 and a seven per cent decrease from August.
Year-to-date trading volume in VIX futures outpaced last year by 86 per cent. Through the end of September, a total of 30.03 million VIX futures contracts have traded.
September exchange-wide trading volume at CBOE Futures Exchange totalled 2.98 million
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