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Butterfield Fulcrum has established a presence on the West Coast to be led by Brian Young. Based in the Pacific Northwest, Young, a Director of Business Development, will be responsible for promoting Butterfield Fulcrum’s fund administration services to investment managers across the west coast and mid-west markets. Previously, he was located in New York having joined Butterfield Fulcrum in 2010.
“There are tremendous opportunities for Butterfield Fulcrum to provide its full-service administration offering to the investment communities on the west coast as well as the mid-west as these markets are home to a vast number of hedge funds, fund
- 17/06/2011
Nearly 90 per cent of single family offices (SFO) are planning to place additional money in hedge funds this year, according to a new report published by The Rothstein Kass Family Office Group, a division of global professional services firm Rothstein Kass.
According to the results of a survey of 151 executive directors at single family office operations carried out during the first quarter of 2011, the most popular strategies are long / short equity (53 per cent), distressed (49 per cent), arbitrage (33 per cent), managed futures (25 per cent), and global macro (25 per cent).
"Raising Capital from
- 17/06/2011
The Cayman Islands government has announced a proposal to register "master funds" in a "master/feeder" structure. Registration will be with the Cayman Islands Monetary Authority (CIMA), the jurisdiction’s financial regulatory body. The proposal is subject to debate and approval by the Legislative Assembly of the Cayman Islands and no draft legislation has yet been presented.
It is expected that the registration obligation will apply only to "master funds" which already have an existing CIMA registered "feeder fund" as part of the structure. Therefore the procedure for registering the master fund is expected to be straightforward and there should be
- 16/06/2011
LCH.Clearnet has agreed to extend the arrangements under which LCH.Clearnet SA provides clearing services to the European Securities and Continental European Derivatives Markets of NYSE Euronext.
Termination of these arrangements was scheduled to occur in November 2012, following the notice given by NYSE Euronext in May 2010. The agreed extension means that the current clearing arrangements will continue to June 2013 for Derivatives and December 2013 for Cash. There are no changes to the contractual arrangements in place between NYSE Liffe Clearing and LCH.Clearnet Ltd, in respect of NYSE Euronext Derivatives in London.
Duncan Niederauer (pictured) Chief Executive Officer of
- 16/06/2011
UMB Fund Services, JD Clark & Company, and Registered Fund Solutions, LLC, have announced the development of the first turnkey solution in the marketplace for launching and servicing registered hedge funds and funds of funds.
The program, sponsored by Registered Fund Solutions, LLC, features a team of best-of-breed professional services firms collaborating to provide a full spectrum of services for registered hedge funds.
The practice of registering hedge funds with the SEC is gaining popularity as a means of broadening distribution, due to these advantages:
Ability to accept an unlimited number of accredited investors, thereby allowing the manager to reduce
- 16/06/2011
With China having just announced the highest inflation levels in 34months and fervent speculation that further monetary tightening will be needed, short selling
- 16/06/2011
- 16/06/2011
Liquidnet, the off-exchange international liquidity provider that connects buy-side institutional investors, tr
- 16/06/2011
The Securities and Exchange Commission has brought fraud charges against Bainbridge Island, Washington, hedge fund manager Pegasus Investment Management LLC (PIM) for failing to disclose to fund investors its receipt of cash payments from a third party.
According to the SEC’s administrative order issued today, PIM combined its securities trades with another firm’s in order for that firm to receive volume discounts. PIM was paid USD90,000 over a 10-month period for its role and retained the money for itself rather than passing it along to fund investors.
The SEC also charged PIM’s Vice President, Peter Benjamin Bortel, for his role
- 16/06/2011
Pictet Asset Management, the institutional asset management arm of Geneva-h
- 16/06/2011
- 16/06/2011
RBC Capital Markets’ RBC Hedge 250 Index had a net return of -0.77 per cent in May. This brings the year-to-date return of the Index to 1.87 per cent. These returns are estimated and will be finalised by the middle of next month. The return for April 2011 has been finalised at 0.98 per cent.
The RBC Hedge 250 Index is a non-investable benchmark of the performance of the hedge fund industry. The Index operates in accordance with a unique construction methodology. The Universe on which the Index is based currently consists of 4,025 hedge funds (excludes funds of hedge
- 16/06/2011
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