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Hedge funds gained 1.73 per cent in July, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index is up 5.86 per cent year to date.
The Barclay Hedge Fund Index now has gains in six out of seven months in 2013 and positive returns in 13 of the past 14 months of trading.
“Tapering fears receded in July as the Fed and the ECB maintained their accommodative posture, helping equity and bond markets to rebound from June’s losses,” says Sol Waksman, founder and president of BarclayHedge. “Positive economic news in the US and Europe
The Cayman Islands Government (CIG) has concluded negotiations with the US on a Model 1 intergovernmental agreement (IGA) and a new tax information exchange agreement (TIEA).
The agreements pave the way for automatic exchange of information (AEOI) under the US Foreign Account Tax Compliance Act (FATCA).
Both governments have initialled the agreements, to indicate their intent to sign them; they also have noted that the official signing will be held as soon as possible, after which the texts will be publicly available.
The benefits of the Model 1 IGA for foreign financial institutions in the Cayman Islands
S&P 500 companies with full reporting information posted 46.6 per cent of their sales from outside of the US in 2012, up from the 46.1 per cent reported in 2011, 46.3 per cent reported in 2010 and on par with the 46.6 per cent posted in 2009, according to research published by S&P Dow Jones Indices.
The data is derived from the 264 companies within the S&P 500 that have full reporting information.
“While the percentage of foreign sales posted a small increase in 2012, reversing last year’s slight tick downward, the underlying trend remains the same − S&P
Three Bridges Capital has appointed Ranjit Unnithan and Marc S Cooperman as senior analysts.
Unnithan focuses on European industrials and Cooperman focuses on the technology, media and telecommunications (TMT) sectors.
Both will report to managing partner Gene Salamon, who is the portfolio manager for the Three Bridges Europe Funds.
Before joining Three Bridges, Unnithan was a senior equity research analyst at JPMorgan based in London and was head of JPMorgan’s European automotive tquity team. Earlier he was a member of automotive equity research team based in New York and began his investment career at Rodman & Renshaw
ALPS Fund Services, a provider of administration services to the alternative asset management industry, has expanded its broker/dealer solution to service private funds through ALPS Distributors.
The expanded service will provide an avenue for private fund managers to navigate the rules and regulations regarding the sale of private placements.
In recent months, the SEC examination staff has increased its focus on private fund advisors as was noted in a 5 April 2013 speech given by David Blass, chief counsel, division of trading and markets: “I would like to be sure that the private fund adviser community is not
DBFS Consultants has appointed David Hastings as senior consultant within the firm’s front office practice.
Hastings has worked in the investments industry for over 25 years, focusing on computerised trading and e-commerce since 2001. He has extensive business development and consultancy experience having worked with Shell International, Henderson Fund Managers, Citigroup, State Street, Flextrade and more recently a DBFS sister company, Tradermade Systems.
Hastings will be working to advise clients on the impact of regulatory change such as FTT and EMIR; improving front office related operational and technology efficiencies. He will be working with the firm’s algo-trading, HFT’s
Maples and Calder litigation partner Colin McKie has been appointed as Queen’s Counsel (QC), following recommendations from the local judiciary to the UK Foreign and Commonwealth Office.
Only seven private-sector attorneys have been appointed to QC in the Cayman Islands, including Andrew Jones QC, the former head of Maples and Calder’s litigation department and now a judge.
Conferment of silk is based on merit and primarily regarded as a measure of the regard in which one is held as an advocate. Candidates must be invited by the Court and approved by the Chief Justice. The Governor makes the
David H Tenney is to join Citi’s prime brokerage business as a managing director and regional head of sales for the Americas.
In this role, he will manage the firm’s unified hedge fund sales efforts across prime brokerage, securities lending and Delta One.
Tenney will be based in New York and report to Alan Pace, global head of sales and client experience, David Murphy, head of prime finance for the Americas, and John Gallo, head of North American sales.
Tenney brings more than 23 years of senior management and sales experience to this role. Most recently, he
New York-based Atalaya Capital Management, an alternative investment firm primarily focused on investing in credit opportunities, has closed its fifth special opportunities fund offering.
Atalaya Fund V will seek to build upon the firm’s prior success in opportunistically purchasing illiquid credit assets. Fund V may also invest in specialty finance opportunities and originate select primary private credit investments.
Atalaya initiated fundraising for the new vehicle during the first quarter of 2013 after drawing down over 70 per cent of Fund IV’s USD500m in commitments. The team quickly exceeded its USD500m target, and held a first and final close
The Commodity Futures Trading Commission (CFTC) has issued a final rule with respect to certain compliance obligations for commodity pool operators (CPOs) of investment companies registered under the Investment Company Act of 1940 that are required to register due to the recent changes to Commission Regulation 4.5.
For entities that are registered with both the CFTC and Securities and Exchange Commission (SEC), the CFTC will accept the SEC’s disclosure, reporting, and record-keeping regime as substituted compliance for substantially all of Part 4 of the CFTC’s regulations, so long as they comply with comparable requirements under the SEC’s statutory and
