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Marie-Claire Fudge has joined Mourant Ozannes as counsel and head of funds in the British Virgin Islands.
Fudge (pictured) has extensive experience in structuring, setting up and launching open and closed ended BVI investment funds and providing ongoing advice to investment funds and their managers.
She has a regulatory practice which compliments her investment funds practice and regularly advises broker dealers and other market participants on the BVI’s investment business laws.
Fudge also has significant industry knowledge in all aspects of BVI corporate law, including public and private mergers and acquisitions, IPOs and listings and joint venture
During the first half of 2013, NYSE Euronext markets in the US and Europe raised USD28.5bn in total global proceeds in 72 initial public offerings (IPOs) and exceeded the combined proceeds raised on the next four world markets.
In the US, capital raised from IPOs listed on the New York Stock Exchange (NYSE) was four times more than any other US marketplace, and the NYSE achieved a record 64 per cent of all new technology offerings from 14 listings that accounted for 58 per cent of capital raised in the sector.
Also in the first half of 2013,
A new legal master agreement for triparty repo transactions has been developed by Clearstream to enable market participants to sign just one contract for multiple counterparties and speed up counterparty “marriage broking”.
Clearstream Repurchase Conditions (CRC), a master agreement governed by Luxembourg law, effectively enables customers to be able to trade with their chosen counterparties within just a few days.
The CRC contains most of the core provisions of current industry standardised repo agreements. It will offer repo participants the possibility of effectively testing their commercial appetite with regard to numbers of trades and volumes with a counterparty
M&A activity involving Asia Pacific is down 23.1 per cent for the first half of 2013 compared to the same period last year, amounting to USD154.3billion reported the Singapore Business Review, quoting a Thomson Reuters release.
This is as a result of completed deal numbers falling 22.9 per cent to 2,462 deals. In addition, the number of announced M&A deals involving Asia Pacific ex-Japan companies came to USD215.6billion, down nearly 9 per cent on the first half of 2012 (USD236.1billion); the slowest start since 2009. Nevertheless the average M&A deal value grew to USD76.1million compared to USD70.6million 1H12 as deal
Altis Partners (Jersey) Limited, the Jersey-based systematic futures manager, has broken from the systematic CTA pack with positive year-to-date returns of +4.74% in their flagship Global Futures Portfolio*.
The Newedge Trend Index which summarises the performance of managers in this trading strategy has returned -0.04% to date in 2013**, reflecting a dramatic downturn in the fortunes of trendfollowers over the last few weeks.
Many systematic CTAs, which trade the futures markets based on proprietary computer models, have suffered from the recent asset sell-off prompted by the Federal Reserve’s announcements heralding the end of quantitative easing. Altis attributes their success in
BNY Mellon has developed a reporting solution that enables its affected alternative investment clients to prepare and file Form PF, as required by recent rules introduced by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
A joint effort of the SEC and CFTC, Form PF reporting complies with Section 404 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, aimed at protecting investors and the US financial system from future systemic risk.
BNY Mellon’s new service offers its fund administration clients who are SEC registered investment advisers to private funds – such as
The Chicago Board Options Exchange is to begin disseminating values for a new volatility index benchmark – the CBOE EFA ETF Volatility Index (VXEFA) – on 1 July.
The VXEFA Index, the newest addition to CBOE’s suite of volatility benchmarks, expands investors’ ability to track market volatility of major geographic regions outside of the US.
The new index measures the volatility of the iShares MSCI EAFE Index Fund (EFA), an exchange-traded product (ETP) that offers exposure to developed-market stocks in Europe, Australia, Asia and the Far East. Most recently, EFA options were the 10th most active ETP options
SS&C Technologies, a provider of financial services software and software-enabled services, has launched a new release of its GoWire application that gives clients real-time access to critical cash flow movements.
This latest version of GoWire allows SS&C GlobeOp fund administration clients to control and authorise cash wire payments via SS&C GlobeOp’s secure web portal. GoWire supports a flexible authorised signatory policy, with multiple levels of authorizers, payment amount thresholds and wire purpose restrictions. GoWire provides SWIFT connectivity to top-tier prime brokers and custodians. Payment references from the financial institutions are made available via the portal for easy access and
CFTC Commissioner Bart Chilton on the Filing of Charges in the MF Global Case…
This is a bellwether case for the Commission following an exhaustive investigation. I hope that those who lost money in this colossal catastrophe can gain some satisfaction from the steps we have taken since Halloween day in 2011.
We allege that Mr Corzine exercised direct and indirect control over MF Global. We further allege that Mr. Corzine in bad faith or knowingly induced the customer funds to be used. We also allege that Ms O’Brien willfully aided and abetted customer cash transfers in violation of the
PortfolioScience, a provider of on-demand risk management systems for hedge funds and hedge fund service providers, has added interest rate swaps (IRS) coverage to RiskAPI, the company’s API-based risk analysis service.
The extended coverage allows hedge funds, fund service providers, and enterprise systems interfacing with RiskAPI to measure the risk and value multi-currency interest rate swaps across portfolios and individual holdings.
"Coverage of interest rate swaps is an important milestone in the evolution of the RiskAPI system," says Ittai Korin, founder and president of PortfolioScience. "Having the ability to rapidly generate exposure and valuation analytics for IRS positions
