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KB Associates, a consulting firm to the asset management community, has appointed Maurice Murphy as senior consultant – risk management services.
He will support the firm’s roster of traditional and alternative asset manager clients.
Murphy will be responsible for leading the development of KB Associates risk management solutions for all clients operating under the AIFMD regime.
Murphy says: “AIFMD significantly increases the focus on risk management. Both asset managers and the offshore funds they manage require increasingly substantive risk management processes. I very much look forward to working with the team here at KB Associates in developing a
By Phillip Graham (Partner) Harneys – The AIFMD comes into force on 22 July 2013 and will affect managers falling within the definition of "AIFM" under the AIFMD which:


(a) are based in the EU and manage AIFs (wherever those AIFs are situated); or


(b) are based outside the EU but manage EU AIFs; or


(c) are based outside the EU but market their non-EU AIFs (including AIFs domiciled in the British Virgin Islands and the Cayman Islands) to investors in the EU.


A number of non-EU based managers of AIFs domiciled in the British Virgin Islands and the Cayman
Gottex Fund Management has completed the acquisition of a majority interest in Frontier Investment Management, a UK multi-asset investment management firm.
Michael Azlen, founder and chief executive of Frontier, will retain a substantial equity interest in Frontier, which has USD550m in assets under management. He will continue to lead the Frontier business, and joins Gottex as a senior executive in its multi-asset business.
The Frontier acquisition will allow the combined group to provide a range of liquid multi-asset products, based on the established endowment style model used by the leading US university “super endowments”. In addition, Frontier’s liquid
The board of supervisors of the European Securities and Markets Authority (ESMA) has re-elected Carlos Tavares as its vice chair.
Tavares (pictured), who is chairman of the Portuguese Comissão Do Mercado De Valores Mobiliários (CMVM), has completed an initial two and a half year term and will now serve a further term of two and a half years in the position.
The terms of three members of ESMA’s management board expired and elections were held by the board of supervisors to fill the positions for a term of two and a half years. Those elected are:
• Kostas
Aquila Capital has launched the AC – Risk Parity Bond Fund, the world’s first risk parity strategy to focus solely on fixed income. The new strategy is seen as a solution for investors who wish to retain substantial exposure to fixed income despite any challenges that may face the asset class.
The importance of this issue is underlined by a new research study conducted by Aquila that reveals nearly two out of three European institutional investors (66 per cent) describe current market conditions for fixed income investors as either challenging or very challenging. Nearly three out of five (59 per cent)
IndexIQ, a developer of index-based alternative investment solutions, has reported negative performance in June for all seven of its hedge fund replication and alternative beta indices.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge benchmark indices were originally introduced on 30 March 2007 and have been calculating live since that date.
IQ Hedge Event-Driven Beta Index and IQ Hedge Emerging Markets Beta Index were the worst performers with returns of −2.93 per cent and −2.44 per cent respectively, while the top performers were IQ Hedge Market Neutral Beta Index
Legal & General Investment Management’s (LGIM) European Economist Hetal Mehta says there is a real danger of deflation in the euro area, but that no significant action is expected from the European Central Bank (ECB) in the near term…
Euro area consumer price inflation has been on a downward trend since mid-2011. We think this trend is likely to continue as lower unit labour costs and the ongoing structural reforms to liberalise markets, which generate price competiveness, drag down inflationary pressure. “The prolonged period of unemployment in Europe has added to deflationary pressure as lower employment has fed through to
Asian equities were mostly higher yesterday (Thursday, July 4th) with the exception of Japanbut trading was cautious ahead of the European Central Bank meeting and Friday’s key US jobs report. Australia’s S&P ASX 200 rallied 1 per cent, Seoul’s Kospi index closed at a session high and the Shanghai Composite rose to a one-week high. Japan’s Nikkei index however, extended slight declines in choppy trade.
US economic data was mixed earlier in the week, providing traders with little direction ahead of the non-farm payrolls report. The ADP employment report showed a gain of 188,000 private-sector jobs, while service sector growth hit a three-year low. Meanwhile in Europe
Mirabaud Asset Management has recruited Simon Götschmann in Zurich to complete its Swiss equity team.
Götschmann joins from Helvea where he was an analyst covering Swiss equities.
Götschmann joined on 1 July 2013 and completes the team consisting of Matthias Egger, specialist for Swiss small- and mid-caps, and Nicolas Bürki, specialist for Swiss large-caps.
Götschmann will initially be the analyst for Swiss equities, supporting both Egger and Bürki on the management of the Swiss equity products.
He has a deep knowledge of Swiss equities, having worked for Helvea as a sell-side analyst for medical technology, and
Ignis Asset Management’s Ignis Absolute Return Government Bond Fund has surpassed GBP1bn in assets under management.
The fund, which was launched on 31 March 2011, has experienced a steady growth in assets under management that can be broadly attributed to four key factors (i) consistent positive returns in both positive and negative market conditions (ii) the low level of risk taken to achieve its returns (iii) the fund’s low correlation to other assets, including government bonds (iv) strong demand from investors who are increasingly concerned about the uncertain direction of markets, bond markets in particular.
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