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BNP Paribas Securities Services has completed the final stage of the migration of a large number of Henderson funds on to its platform.
In total, this complex project has required the migration of 25 legacy Gartmore funds with an approximate value of EUR8bn in three stages and incorporating multiple jurisdictions and fund types.
BNP Paribas was awarded this business on the basis of its strong client relationship and high quality services, which it has provided to Henderson since 2002. Having now completed the final stage of the migration, BNP Paribas will provide Henderson Global Investors (HGI) with
GreySpark Partners, a London-based capital markets consultancy, has published a new report exploring changes to the market structure for foreign exchange trading.
Trends in FX Trading 2013 examines how e-commerce trends, macroeconomic forces and new capital markets regulations in the EU and US are challenging the investment bank-dominated FX market. These forces are giving buyside customers more choice and control than they have ever had before in their FX trading activities.
Since 2010, the proliferation of so-called dealer-to-client (D2C) multi-dealer platforms (MDPs) has meant that the buyside has enjoyed more choice in where they trade FX than ever
Impax Asset Management and Old Mutual Global Investors (OMG Investors) have marked the third anniversary of the Old Mutual Ethical Fund as a single manager fund.
The fund was originally launched in September 2005 as a multi-manager fund, with Impax subsequently appointed as the sole manager of the mandate in July 2010.
The fund follows a global all cap strategy and enables investors to participate in the superior growth demonstrated by global resource optimisation and environmental markets, with a rigorous ethical overlay. It targets both long-term capital growth and income through investment in stocks of companies that are
Experience, expertise, ‘fast track’ regulatory routes, listing capabilities and a dual regime for AIFMD are just some of the reasons why leading global private equity houses, such as HarbourVest, are continuing to choose Guernsey as their fund domicile, reports Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance.
An exit poll of the 400-plus delegates attending May’s Guernsey Funds Forum 2013 held in London revealed that they believed the future landscape of the investment funds industry will be affected by ‘external factors’, just as much as regulation.
The half-day conference and exhibition, titled ‘Back to the Future’, included two panel
By James Williams – Recent figures released last month by Geneva-based Alix Capital, which runs the UCITS Alternative Index Global, show that in Q1 this year total assets in the alternative UCITS space advanced by 11.6 per cent to EUR155billion. Year-on-year, that’s a 29 per cent increase (EUR139billion in 2012).
As more managers come to market the competition to support them and distribute their products to investors intensifies. Right now, Morgan Stanley’s FundLogic Alternatives platform leads the way with 18 individual funds. But the likes of Deutsche Bank’s DB Platinum platform are proving equally successful; indeed this is now the
There remains a common misperception among some investors that UCITS fund structures are more costly than offshore funds due to additional reporting requirements, frequent NAV calculations and use of derivatives. But as Jason Funk (pictured), a member of the alternative investments business development team at Lyxor Asset Management is quick to point out, alternative UCITS funds are actually quite cost efficient.
“Hedge fund managers are responding to fee compression in the market. We see them launching UCITS funds to reach a completely different investor base. Although they are not always pari passu versions of their offshore strategies, they are being
By James Williams – Over the past 12 months, total AuM in alternative UCITS funds has risen from EUR139billion to EUR155billion. In 2008, that figure stood at EUR28billion.
Given that the majority of money coming into these products is mostly retail money, invested through private banks and FoHFs, the size of allocation is not substantial. As Amy Bensted, Head of Hedge Fund Products at Preqin, comments: “There’s still less than EUR200billion invested so the industry is not growing as much as people expected a few years ago. However, we think alternative UCITS funds will remain a good option for investors
The key to offering a robust UCITS platform to support hedge fund strategies is making sure that what is being offered is suitable for the specific clients being targeted, according to Ian Swallow (pictured), Head of UCITS Management at Man.
Over the last 10 years there has been a huge shift in market regulation. As hedge fund managers have moved into the UCITS space, so European regulators have been quick to increase the level of scrutiny on new launches. Put simply, the barriers to entry for launching an alternative UCITS fund are high. If you lack the ability to demonstrate
By Daniel Häfele, ACOLIN – “I’d like to distribute my hedge fund in Switzerland – is that still possible?” “We are a specialist in offshore funds. Will you take us on as a legal representation client?”
At ACOLIN, we get questions like these almost every day. The answer to both is: yes, it is still possible to distribute hedge funds in Switzerland, but under certain conditions. And yes, we are open for business.
The laws now cover the distribution of all collective investments (CIS) in Switzerland, including AIFs such as hedge funds, as well as UCITS and other retail products.
The Cayman Islands has now signed memoranda of understanding (MOUs) with 25 European countries, which will enable the continued marketing of Cayman Islands hedge funds throughout the European Union.
Cindy Scotland, managing director of the Cayman Islands Monetary Authority (CIMA), has signed the MOUs on behalf of the Authority. On 22 May 2013, her counterparts from the following financial authorities – members if the European Securities and Markets Authority (ESMA) – signed the MOUs:
Autoriteit Financiële Markten (The Netherlands);
Autorité des marchés financiers (France);
Financial Services and Markets Authority (Belgium);
Central Bank of Ireland (Ireland);
Comissão do Mercado de
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