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The Securities and Exchange Commission has named Jennifer Marietta-Westberg as deputy director of its division of risk, strategy, and financial innovation (RSFI).
The SEC created the division in September 2009 to help inform the agency’s policymaking, rulemaking, enforcement, and examinations. The division provides economic analysis, quantitative research, and risk assessment, and its staff has expertise in a variety of academic disciplines and deep knowledge of the financial industry and markets.
Marietta-Westberg will oversee the division’s policy and rulemaking support functions, particularly its economic analysis in support of SEC policy and rulemaking. In addition, she will assist with the
Northern Trust is expanding its fund administration and custody capabilities to support locally domiciled Hong Kong funds, including exchange-traded funds, as well as other regional investment funds.
For the newly launched service, Northern Trust will provide global sub-custody and fund administration services, including fund accounting and shareholder services, to asset managers looking to broaden their product and distribution base in the Asian region.
“We recognise the significant demand from investors, asset managers and regulators for local products in the Hong Kong and greater China markets,” says Camie West, head of global fund services in Asia for Northern Trust.
There’s been an uptick in the number of alternative fund managers launching UCITS-compliant
The Saemor Europe Alpha Fund produced a return of 2.4 per cent in March, according to figures released by Saemor.
Average return over the past three years now stands at 7.5 per cent (annualised).
Performance of the fund was relatively strong in March, with only seven down days for the month. The drivers included short positions in Vopak and Italian banks such as UniCredit and UBI, and long positions in Persimmon and Thales. This was countered by a number of performance bleeders which included short positions in Asos, Serco and Capita and long positions in Rio Tinto and
PortfolioScience, a provider of on-demand risk management systems for hedge funds and hedge fund service providers, has integrated its RiskAPI platform into the MIK Data Warehouse solution.
The completed integration enables hedge funds that use MIK’s data warehouse to access a full suite of multi-asset risk analysis capabilities, seamlessly embedded within a fully flexible, multi-feature data warehouse.
The collaboration with PortfolioScience allows clients of MIK to generate highly customizable and fully integrated suite of risk calculations such as: multi-model Value-at-Risk (VaR), multi-dimensional stress testing, exposure analysis, and option analytics. All calculations are available across funds, portfolios, sub-portfolios, and
The Depository Trust & Clearing Corporation (DTCC) has expressed continued support for legislation that would resolve issues surrounding the indemnification provisions and confidentiality requirements of the Dodd-Frank Act.
During a hearing of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, Chris Childs, chief executive officer, DTCC Data Repository (DDR), reaffirmed DTCC’s support for the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013 (H.R. 742).
The legislation would remove the indemnification provisions from sections 728 and 763 of the law and help ensure regulators continue to have access to a global set of
Cortland Capital Market Services has been appointed by Arrowpoint Asset Management to provide middle office services to Arrowpoint CLO 2013-1.
Denver-based Arrowpoint Asset Management is an investment adviser with approximately USD1.9bn under management as of 31 December 2012.
Arrowpoint uses in-depth fundamental research to identify asymmetric risk/reward opportunities in providing investment advisory services to both separate accounts and investment funds.
Cortland is an experienced CLO middle office service provider. Cortland will provide CLO waterfall modelling, collateral substitution compliance, trustee reconciliation, loan administration, and trade settlement services to Arrowpoint.
“Having the depth and breadth of Cortland’s experienced
The buoyant start to 2013 has seen the demand for UK smaller companies continue as investors’ appetite for risk has increased in-line with growing confidence in the global economic outlook. Co-portfolio managers on the Franklin UK Smaller Companies Fund, Paul Spencer and Richard Bullas believe that small caps can continue to make headway and outperform the broader market as investors search for growth companies in an otherwise low or no growth macro environment.
We believe valuations continue to look attractive. The Franklin UK Smaller Companies Fund benchmark index, the Numis Smaller Companies Index, is currently trading at a discount to
Carne Group, a provider of governance and oversight services to the global funds industry, has appointed Jean de Courrèges as a director within its international team of independent fund directors.
Courrèges brings to Carne more than 30 years in banking and portfolio management in North America, Europe and Asia, including four years as a manager of fund investment operations and strategies with Credit Suisse Asset Management.
Courrèges has worked as trader in forex and fixed income with Banque Indosuez, and while there he developed profitable arbitrage strategies before he became regional treasurer in Singapore. He went on to
Man Group has confirmed with the Financial Conduct Authority (FCA) the change of its regulatory status from being a Full Scope Group to a Limited Licence Group.
As mentioned at Man’s 2012 results presentation, the group held a capital planning buffer of approximately USD300m which it is no longer required to hold by the FCA.
In light of the group’s change in status to a Limited Licence Group, it has also submitted a revised Internal Capital Adequacy Assessment Process (ICAAP) document to the FCA. The ICAAP is part of the mechanism through which regulated firms are set capital requirements
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