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Meridian Fund Services was named “Best Offshore Fund Administrator” at the 2013 Hedgeweek Global Awards.
The announcement was made on 1 March at a luncheon ceremony in London.
The Hedgeweek Global Awards honour the industry’s best hedge fund managers and service providers. Winners are decided by the votes of their clients and peers including fund managers, institutional and high net worth investors, prime brokers, custodians, and advisers.
"I am delighted that Meridian received this award,” says Tom Davis, chief executive of Meridian Fund Services. “It is a reflection on the hard work of our company-wide team of employees. I am
KPMG has expanded its alternative investment funds (AIF) practice by adding two federal tax managing directors to its Los Angeles and New York offices.
"KPMG is continuing to invest in and expand its Alternative Investments team to serve its private equity, hedge funds and real estate funds clients," says Chuck Walker, national partner in charge, alternative investment funds – tax. "We are thrilled to announce the latest managing directors to join us as we continue to strengthen our team with some of the best talent out there."
Nancy Chan, managing director, federal tax, Los Angeles, has more than 25 years
The Dow Jones Credit Suisse Core Hedge Fund Index closed down 0.28 per cent in February as five of the seven index component strategies reported negative results for the month.
Fixed income arbitrage (-1.12 per cent) and global macro (-0.51 per cent) were the worst performers, while emerging markets (0.36 per cent) and long/short equity (0.37 per cent) were the two component strategies to finish the month in positive territory.
The Dow Jones Credit Suisse Core Hedge Fund Index provides daily published index values which seek to enable investors to track the impact of market events on the hedge fund industry.
PhillipCapital India has deployed Orc Access to meet the growing market demand for low-latency connectivity in India.
PhillipCapital has completed the necessary regulatory certifications for its Orc installation and is now able to provide international trading firms with high-speed Direct Market Access (DMA) to the National Stock Exchange of India. (NSE).
The Orc deployment empowers PhillipCapital to meet the low-latency demands of international trading firms looking to execute cash, futures and options on the NSE without the need to obtain exchange membership.
“Apart from Orc’s speed and performance, we were impressed with the robust real-time risk management capabilities within the
The Credit Suisse Liquid Alternative Beta (LAB) Index was down 0.16 per cent in February, according to Dr Jordan Drachman, head of alternative beta strategies at Credit Suisse.
The event driven strategy was the strongest performer for the month, finishing up 0.17 per cent.
The long/short strategy was the worst performer of the six strategies finishing the month down 1.02 per cent.
Thirty eight per cent of respondents believe investment consultants are behind the curve when it comes to advising their clients on the Ucits hedge fund sector, according to a survey by Alix Capital, the Geneva-based provider of the Ucits Alternatives Index (UAI) family of indices.
The survey also reveals a significant shift in allocation intentions. For the first time since summer 2011, respondents plan to decrease their allocation to fixed income and increase allocation to equity long short strategies.
Ucits hedge funds assets under management are expected to continue to grow in the next six months, with 69 per cent
MarketAxess, the operator of an electronic trading platform for US and European corporate bonds, emerging markets bonds and other types of fixed income securities, has completed its acquisition of Xtrakter a provider of regulatory transaction reporting, financial market data and trade matching services to the European securities markets.
In addition, MarketAxess has appointed Robert Urtheil as head of its European and Asian businesses.
Urtheil joins from Oliver Wyman, a management consulting firm, where he was a partner and global head of the firm’s market infrastructure practice. Previously, he spent 10 years at Deutsche Börse Group, most recently as head of
Sir Paul Ruddock is to retire as chief executive officer of Lansdowne Partners, the London-based stock-picking hedge fund he co-founded in 1998, to concentrate on his work in the arts.
Ruddock (pictured), who is currently chairman of the Victoria & Albert museum in London, will step down at the end of June.
Lansdowne Partners currently has GBP8.2bn of assets under management. Its biggest fund, the GBP5.9bn Developed Markets fund managed by former Merrill Lynch investment managers Stuart Roden and Peter Davies, returned 18 per cent last year and is currently up 7.5 per cent in 2013.
An increasingly carbon-constrained world could pose formidable challenges for the global oil sector, according to a report by Standard & Poor’s Ratings Services and Carbon Tracker Initiative.
The report, “What A Carbon-Constrained Future Could Mean For Oil Companies’ Creditworthiness”, indicates that amidst an environment of existing challenges in the oil sector – including evolving government climate-related policies, uncertain future oil prices and rising operational costs – it is even more vital that investors consider the potential implications of future carbon constraints.
“Financial models that only rely on past performance and creditworthiness are an insufficient guide for investors,” says Michael Wilkins,
In a study entitled “Assessing the Quality of Asian Stock Market Indices”, researchers at Edhec-Risk Institute have found that all 10 indices surveyed display a pronounced lack of efficiency in terms of risk-reward trade-off.
For all of them, an equal-weighted index constructed from the same components outperforms the corresponding cap-weighted market index. The levels of inefficiency of Asian market indices were found to be quite comparable to those of European and US indices.
The standard Asian indices are heavily concentrated in a few large-cap stocks. Most indices allocate as much as 60 per cent of the index weight to only
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