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Specialist finance and advisory firm Trafalgar Capital Advisors (TCA) has appointed Len Harac to the advisory board and as a member of the valuation committee, which is now comprised of a majority of external members.
Since 1985 Harac has been president of his own strategic and tactical business advice firm and in this time has been retained by a host of listed, high profile companies. His skills have been honed through over 25 years’ industry experience and he has gained a reputation for excellence throughout his career, being formally recognised on a number of occasions.
"Len will be a
- 05/07/2011
Merchant Capital Ltd (Merchant), the asset management division of Merchant House Group Plc, has launched the Russian Phoenix UCITS Fund on its independent UCITS umbrella platform. The fund officially launched on 2nd June 2011 with SGD40 million of assets under management.
The Russian Phoenix UCITS Fund replicates the strategy of an existing long/short product managed by Spectrum Partners Group, the Spectrum Russian Phoenix Fund, which has a two-year audited track record. The strategy follows a thematic investment approach with active stock-picking aiming to identify investment opportunities with a favourable risk/reward profile. It predominantly invests in large-cap equities actively traded in
- 05/07/2011
AMP Capital Investors has selected MSCI’s BarraOne for firm-wide multi-asset class investment risk management.
AMP Capital Investors is one of Asia Pacific’s leading investment managers with over 50 years of experience managing investments for Australian, New Zealand and international investors. AMP Capital’s Investment Risk team has chosen BarraOne as a key tool to help monitor risk and produce unified reports across multiple asset classes. The firm’s portfolio is highly diversified including active equities, fixed income, real estate, infrastructure, alternative investments, multi-asset and multi-manager portfolios.
AMP Capital said that given its broad range of investments, BarraOne was an immediate stand out
- 05/07/2011
Marex Spectron Group has agreed to acquire the Global Markets Division of Eden Financial Limited (Eden) in a transaction that is expected to complete on or soon after 29 July, 2011. Following the transaction, Eden will concentrate its activities on its expanding private client and asset management division.
Marex Spectron has a leading position in On-Exchange metals, energy and agricultural products and Over-the-Counter energy markets. The acquisition of Eden’s Global Markets Division adds greater depth to Marex Spectron’s financial products, complementing its financial futures and foreign exchange businesses. In particular, the Global Markets Division adds non-derivative products, including European cash
- 05/07/2011
Ogier has opened an office in Shanghai as the offshore law firm further expands its worldwide network. The move is at the heart of Ogier’s strategy to provide the most innovative and comprehensive multi-jurisdictional services, through a significant presence in each of the world’s key financial centres and across all time zones.
The new mainland China office will enable Ogier to provide the full range of Ogier’s services to its clients in a manner which is responsive to local conditions and practices. Ogier is the first offshore law firm to have an office in mainland China and is also the only
- 05/07/2011
- 05/07/2011
Asset class performances were as hard to predict as ever during the first half of this year. While the global economic outlook has been more favorable than previously, sources of risk have shifted continuously, says Stefan Keller (pictured), head of MAP research and external relations at Lyxor Asset Management. As a result, unexpected shocks have derailed trends at work since the announcement of QEII end-August 2010. The unrest in the Middle East and North Africa has been on nobody’s agenda while the earthquake, tsunami and nuclear fallout in Japan were, by definition, unexpected.
Commodity Trading Advisors (CTAs) have given back
- 05/07/2011
The US Commodity Futures Trading Commission (CFTC) has filed a complaint in the US District Court for the District of Nebraska, charging Grace Elizabeth Reisinger of Grand Island, Nebraska, and ROF Consulting, LLC (ROF) with operating a fraudulent commodity pool scheme. The defendants operated the commodity pool NCCN, LLC (NCCN).
The CFTC complaint, filed on June 29, 2011, alleges that from at least February 28, 2005 to October 26, 2009, Reisinger and ROF fraudulently solicited and accepted approximately USD4 million from NCCN pool participants. The defendants allegedly operated NCCN while not being registered as Commodity Pool Operators (CPOs), as required
- 04/07/2011
A federal judge in Rhode Island has granted the Securities and Exchange Commission’s motion for summary judgment and entered final judgments against Locke Capital Management, Inc, an investment adviser based in Newport, Rhode Island and New York City, and Leila C Jenkins, its founder and sole owner.
The Commission’s Complaint against Locke and Jenkins, filed in March 2009, alleged that they invented a billion-dollar client in order to gain credibility and attract legitimate investors. The Complaint further alleged that Jenkins tried to perpetuate her scheme by lying to the Commission staff about the existence of the invented client and furnishing
- 04/07/2011
Signet, a USD1.5 billion fund-of-hedge-funds group based in the UK and the US, has hired Marco Meli as a senior investment specialist. Bridging the group’s portfolio management and business development functions, Meli will focus on customised investment products and investor relations in German- and French-speaking Europe.
Mel brings to Signet over a decade of experience in finance, including eight years in hedge funds. Before joining Signet he was a portfolio manager at EIM in Nyon, Switzerland, where he managed fund-of-hedge-fund portfolios for institutional investors and developed tailor-made products. He speaks three languages fluently, has a Bachelor’s Degree in Financial and
- 04/07/2011
The US Commodity Futures Trading Commission (CFTC) has charged Flint-McClung Capital LLC (FMC) of Englewood, Colo., and Shawon McClung of Denver, Colorado, with fraud and misappropriation in an off-exchange foreign currency (forex) Ponzi scheme in which defendants allegedly fraudulently solicited and accepted at least USD1.9 million from at least 10 commodity pool participants since March 2010.
On 23 June, 2011, the same day the complaint was filed, Judge Christine M Arguello, of the US District Court for the District of Colorado, Denver Division, issued an emergency order freezing assets in defendants’ bank accounts and prohibiting the destruction of books and
- 04/07/2011
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