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For a firm like Lyxor, whose managed account platform is one of the largest and most successful in the industry – it currently hosts 107 single managers – staying on top of the risk management process is of paramount importance. It’s also a hugely focused operation, one that relies both on systems and people. This is understandable given that an enormous amount of work goes into screening managers before they are accepted onto the platform.
Mitigating selection risk is, therefore, a key element in Lyxor’s overall risk management process and involves a three-stage due diligence process according to Stefan Keller
By James Williams – Akin to the multi-headed Lernaean Hydra faced by Hercules, managers and technology providers alike must today find solutions to control the multi-headed beast that is risk management.
Risk means different things to different people. But to summarise the key components, it now encapsulates: liquidity risk, market risk, counterparty risk, operational risk, regulatory risk, and more recently, sovereign risk.
Five years ago, the idea that Western governments could present a meaningful risk to how hedge funds trade was folly. With the eurozone meltdown, folly has become fact. This illustrates just how complex and self-evolving “risk” is in
Alfred C Eckert III, Russ D Gerson and Oliver W Reeves have launched a new asset management firm, Phoenix Star Capital.
The new firm will pursue investment opportunities across the leveraged loan and high yield bond markets.
The firm’s founding partners – Eckert and Gerson – have enjoyed a personal and professional relationship for many years. Reeves was a key member of Gerson’s investment team in his sovereign advisory business.
The firm launches with USD100m of capital and will initially structure, manage and invest in CLOs and BDCs. Phoenix Star intends to expand its operations by establishing
The Hedge Fund Standards Board (HFSB) is strengthening US representation on its board with the appointment of Dan Stern, the co-founder and co-chief executive of Reservoir Capital Group, the New York-based fund manager, as a trustee.
This follows a significant increase in the number of US managers signing up over the past year. Together with managers from Canada, they now account for one third of the HFSB’s 95 signatories. Assets under management of all HFSB signatories now total more than USD475bn.
Dame Amelia Fawcett, chairman of the HFSB, says: “We are delighted to welcome such an experienced figure
Succession Systems deploys market access risk solution for Newedge US and Canadian regulatory compliance.
Succession Systems has deployed its TripleCheck Market Access Risk Solution to meet Newedge Brokerage’s regulatory requirements for automated trading risk controls in Canada and the US.
Brokers in Canada were given until 31 May to deploy the controls needed to meet the IIROC rules for trading on Canadian exchanges. The rule ensures pre-order entry filters are activated across all trading activity. The rule mandates that brokers manage the trading exposure of its clients in real time. Market Access Risk Solutions must conduct checks at
The European Securities and Markets Authority (ESMA) has approved a cooperation agreement with Jersey to ensure it can continue to deliver alternative investment funds business into Europe after the introduction of the EU Alternative Investment Fund Managers Directive (AIFMD) in July.
ESMA’s board of supervisors approved the memorandum of understanding (MoU) at its 22 May meeting. ESMA negotiated the agreement on behalf of all 27 EU member state securities regulators as well as the authorities from Croatia, Iceland, Liechtenstein and Norway.
The agreement, which will be signed by John Harris, director general of the Jersey Financial Services Commission,
Hedge Funds Care will begin using the name Help For Children, keeping the same mission and goals, the same support and commitment to the hedge fund and finance industry, but expanding its reach and capacity to raise funds.
The organisation was started as a dinner in New York City with one mission and two goals. The one mission was preventing and treating child abuse and the two goals were raising as much money as possible for the mission and to showcase the philanthropy of the hedge fund and finance industry.
Between 1998 and 2013 Hedge Funds Care grew
How hedge funds are becoming mainstream investment strategies for a new class of investors, specifically family offices, seeking returns unavailable in traditional markets, will be the focus of the Bloomberg Hedge Funds Summit, which is being held in New York City on 4 June.
The day-long Summit, to be held at The Pershing Square Signature Center, will commence with a discussion about the game-changing impact presented by a number of new investors seeking to include alternatives in their portfolios.
As in past years, the programme will also look at the most pressing issues facing investors today, including credit
Staples Rodway Asset Management and Gottex Fund Management Sarl, the investment subsidiary of alternative asset management group Gottex Fund Management Holdings, have formed a joint venture in New Zealand called Gottex SR Funds (GSRF).
Gottex SR Funds will offer multi-asset investment products to New Zealand investors seeking diversified international investment exposure, combining Gottex’s well-established research, global reach and expertise in multi-asset portfolio construction and management with Staples Rodway’s reputation for providing clients in New Zealand with sound financial advisory services.
Guy Holroyd is the managing director of GSRF, and the existing SRF International Capital Growth Fund, established in 2011,
HSBC Holdings Plc (HSBA), the largest European bank by assets, plans to double its Asia-Pacific prime finance team’s cut of hedge-fund assets in the coming year, said Melvyn Ford, regional head of the business.
It is part of a target to improve its standing by two places to the region’s sixth-largest primebroker over the 12 months, Ford said in an interview in Hong Kong yesterday. HSBC was ranked eighth in its first full year in a survey by a regional trade journal.
HSBC was a late entrant to the Asia-Pacific prime brokerage market dominated by the likes of Goldman Sachs Group Inc., Morgan Stanley
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