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The Association of the Luxembourg Fund Industry (ALFI) has this week published a comprehensive 46-page report on Liquidity Guidelines
Preqin’s latest Hedge Fund Spotlight reveals that hedge funds focusing on the Asia Pacific region posted significant returns in January and February 2013 of 3.97 per cent and 2.18 per cent in each month respectively. This is in comparison to North American and European hedge funds, which posted only 0.61 per cent and 1.24 per cent in February respectively.
Asia Pacific hedge funds outperformed other regions over the last 12 months, returning 10.71 per cent compared to 9.37 per cent for North America-focused hedge funds and 6.88 per cent for Europe-focused hedge funds.
Performance for hedge funds across all strategies
The Australian Securities and Investments Commission (ASIC) has proposed draft rules addressing the mandatory trade reporting obligations for over-the-counter (OTC) derivatives such as interest rate swaps.
The proposals are the next step in Australia meeting its G20 commitments to OTC derivatives reform, and follows ASIC consulting on proposals for the licensing and regulation of derivative trade repositories.
Consultation Paper 205 Derivative transaction reporting (CP 205) proposes rules governing the reporting of OTC derivative transactions to derivative trade repositories. CP 205 covers issues such as which institutions will need to report to trade repositories, what information will need to
A framework for incorporated cell companies in the insurance sector was created in the Cayman Islands on 25 March, when the Legislative Assembly passed an amendment to allow the registration of portfolio insurance companies (PICs) within segregated portfolio company insurers (SPCs).
PICs offer four main advantages over existing SPCs, which also are offered in the Cayman Islands, says the Minister for Financial Services, the Honourable Rolston Anglin (pictured), who presented the Insurance (Amendment) Bill 2013 to the Legislative Assembly.
1. A PIC is a separate legal entity, whereas a segregated portfolio of an SPC is not. This means
Following receipt of the approval to provide fund administration and custody services from the Malta Financial Services Authority, the Citco Group of Companies is opening an office in Malta.
William Keunen, global director of Citco Fund Services, says the extension of Citco’s global footprint in Malta makes sense.
“We have been asked on numerous occasions whether we can service funds domiciled in Malta. Now, with the implementation of the AIFM directive in July 2013, Malta will provide a viable alternative to the main European hedge fund jurisdictions, in particular because the legislation is ready and the MFSA is
IN THE SUPREME COURT OF BERMUDA
COMMERCIAL LIST
COMPANIES (WINDING-UP)
2010: No. 312
IN THE MATTER OF NEW STREAM CAPITAL FUND LIMITED
AND IN THE MATTER OF THE COMPANIES ACT 1981
AND IN THE MATTER OF THE SEGREGATED ACCOUNTS COMPANIES ACT 2000
notice OF INTENTION TO DISTRIBUTE ASSETS
NOTICE IS HEREBY GIVEN that pursuant to the directions of the Supreme Court of Bermuda, Mike Morrison and Charles Thresh of KPMG Advisory Limited, Crown House, 4 Par-La-Ville Road, Hamilton, HM 08, Bermuda, the Joint Receivers of the segregated account classes B, E, H, K, L, N and O of the above
The Securities and Exchange Commission has charged a California-based hedge fund analyst with insider trading in advance of a merger of two technology companies based on non-public information he received from his friend who was an executive at one of the companies.
The SEC also charged the executive and another trader in the USD29m insider trading scheme.
The SEC alleges that Matthew Teeple of San Clemente, California, was tipped in advance of a July 2008 announcement that Foundry Networks had agreed to be acquired by Brocade Communication Systems for approximately USD3bn. Teeple’s source was Foundry’s chief information officer
As managers and investors look for fund domiciles with a focus on quality, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, explores how Guernsey is well positioned to meet these evolving needs.
There is an ever growing awareness among investors and promoters of the importance of looking towards jurisdictions with quality service provision, strong corporate governance and robust regulation. This change in emphasis and focus on improved standards – accelerated by the global financial crisis in 2008 – was long overdue, but has thankfully been to Guernsey’s advantage as we
Legal-Bay, a US lawsuit settlement funding firm for BP Gulf of Mexico oil spill plaintiffs, has been in talks with several foreign institutional hedge fund investors as well as traditional banks to raise more funding capital.
Legal-Bay previously announced that it had secured up to USD10m, specifically for BP settlement claims, however the company now feels that that amount of money will not be enough.
British Petroleum has projected that the economic portion of the settlement will result in about USD7bn of exposure, but Legal-Bay believes that the number will be higher.
"We are seeing large amounts
Charles River, a front- and middle-office investment management solutions provider, has introduced a direct interface between the Charles River Investment Management Solution Version 9.1.4.5.3 (Charles River IMS) and MarkitSERV MTM which helps clients comply with mandatory clearing requirements for newly executed over-the-counter (OTC) derivatives under the Dodd-Frank Act.
The Dodd-Frank requirement for central clearing of OTC derivatives is designed to reduce systemic risk in the financial markets.
Charles River’s new integration ensures greater accuracy and transparency by allowing clients to submit interest-rate swaps (IRS), credit-default swaps (CDS) and CDS Index trades directly to MarkitSERV MTM. Clients can monitor
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