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The Channel Islands Stock Exchange (CISX) has for the last 20 months been subject to a Guernsey Financial Services Commission (GFSC) investigation into certain historic activities, according to CISX Chairman Jon Moulton.
In a statement released today, Moulton (pictured), says: There are no investigations in respect of current matters.
“These investigations are ongoing, detailed ridings have not been received by the Board [of the CISX] and consequently the Board cannot estimate with any confidence their final completion timescale or any effects upon the companies’ business model.
“The CISX has recently made provisions for around GBP500,000 in respect of costs to
Under the terms of the AIFMD, UK and EU hedge fund managers marketing non-EU, offshore hedge funds to EU investors through private placement, now need to comply with the so-called Depositary-Lite regime.
This requires managers to ensure one or more firms are appointed to perform the depositary duties of safe keeping of assets, cash flow monitoring and oversight. Two fundamentally different depositary-lite models have emerged: single or multiple firm.
“We see clear advantages to a multiple-firm model over the single model and believe most managers will have a strong preference for the multiple model,” says Bill Prew, CEO of
Hedge funds gained 2.11% in September, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 7.30% year to date.
"The Fed's decision to delay tapering surprised investors and drove equity prices higher through mid-month," says Sol Waksman (pictured), founder and president of BarclayHedge. "Fears over the possible failure of US budget and debt ceiling negotiations gained momentum and equity markets sold off in the second half of September, but equities remained profitable on the month as measured by a gain of 5.0 percent for the MSCI World Index."
All but one of Barclay's 18 hedge
Trium Capital has welcomed QLO Capital to its multi-manager platform, Trium Multi-manager Alliance (TMA) – an alliance of quantitative and systematic style early stage hedge fund managers.
Managers that join TMA will be teaming up a range of like-minded outstanding hedge fund managers, sharing offices and central control function resources with each other, thus benefiting from significant economies of scale. TMA is structured so that early-stage managers meet the operational due diligence requirements required by institutional investors on day one.
QLO Capital is a global macro investment strategy that uses a systematic multi-strategy approach to investments, trading liquid futures across
Intermediate Capital Group's (ICG) Dagmar Kent-Kershaw has joined the list of confirmed speakers at the Debt Forum event in London on 13 November.
Kent-Kershaw joined ICG in 2008 and is Head of Credit Fund Management. She joined ICG from Prudential M&G where she worked for the previous seven years as Head of Structured Products, having originally founded that business. She was previously responsible for Prudential M&G’s debt private placement business.
Kent-Kershaw has extensive experience of the sub-investment grade credit and structured finance markets and has over 20 years experience in fixed income markets, also at Scotiabank and Natwest. SHe has a degree
Babson Capital Management has appointed Ricardo Adrogue and Brigitte Posch to lead the firm’s new Emerging Market Debt investment team.
Adrogue joins Babson Capital from Cabezon Investment Group, where he was a Member and Emerging Market Fixed Income portfolio manager. Prior to joining Cabezon, he was lead portfolio manager for several emerging market debt strategies at Wellington Asset Management. Posch joins Babson Capital from PIMCO, where she was Executive Vice President and Head of Emerging Market Corporates.
Adrogue, based in Boston, will head the team and oversee portfolio management activities for sovereign and local currency strategies. Posch, based in London,
Hedge funds ended the quarter in positive territory although returns differed significantly by strategy, according to Swiss alternative investment company Altin.
Equity related strategies such as Equity Long/Short, Event Driven and Equity Market Neutral (which was the best performing strategy) performed particularly well. A stock picking approach supported by a strong dispersion of returns between good and bad companies and more generally a positive, albeit volatile equity market, all contributed to deliver strong alpha.
Convertible Bond strategies also performed very well, just shy of the performance of Equity Market Neutral, thanks to an overall supportive credit and equity market environment,
Investcorp’s New York-based Hedge Fund group has appointed industry veteran, Lionel Erdely, as the firm’s Head of Hedge Funds and Chief Investment Officer.
Erdely will join Investcorp from Lyxor Asset Management, a subsidiary of Societe Generale Group with approximately USD100 billion of assets under management, where he has served as Chief Investment Officer since 2004 and CEO of Lyxor Inc since 2009. During his 11 year tenure at Lyxor he was instrumental in expanding the firm’s alternative investment business globally and growing its roster of large US-based institutional investors. Erdely served as Chairman of the firm’s Investment Committee for alternative
SuMi TRUST has appointed Hiroki Moritani and Shin Sawada as directors of the international sales team based in London.
Prior to joining the London office, Moritani (pictured) was in charge of global fiduciary business development and client services for global investors at the firm’s head office in Tokyo. He started his career at SuMi TRUST in 1996, where he has since held various positions including client portfolio management, product management, sales & marketing for institutional investors and global securities administration business. He holds an MBA from Duke University and a bachelor’s degree in Economics from Keio University in Japan.
Sawada
Northern Trust has expanded its depositary services across multiple fund types, asset classes, fund locations and investment strategies to support fund managers implementing the AIFMD.
With five new senior positions created across Europe, Northern Trust will be able to offer depositary services in the United Kingdom and The Netherlands, in addition to its existing services in Ireland, Luxembourg and the Channel Islands.
“We are pleased to expand our depositary services capabilities to all our fund manager clients across Europe,” says Toby Glaysher, head of Global Fund Services. “Our AIFMD pan-European depositary capabilities are designed to provide the best in class
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