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The European Securities and Markets Authority (ESMA) has published final guidelines on remuneration of alternative investment fund managers (AIFMs).
The rules will apply to managers of alternative investment funds (AIFs) including hedge funds, private equity funds and real estate funds.
Non-EU AIFMs who market funds (using passport agreements) to EU investors will also be subject in full to the guidelines after a transitional period.
AIFMs will be asked to introduce sound and prudent remuneration policies and organisational structures which avoid conflicts of interest that may lead to excessive risk taking. Stronger governance of how fund managers are paid will ultimately
Hedge funds have started 2013 on a high note, with the Lyxor Hedge Fund Index up 1.6 per cent in January thanks to positive returns from 12 of the 14 Lyxor Strategy Indices.
Most of the best January performers of the Lyxor platform are to be found in the L/S equity space: the Lyxor L/S Equity Market Neutral Index rose by 5.1 per cent and the Lyxor L/S Equity Long Bias Index rose by 3.7 per cent.
Long biased managers maintained net exposures levels at about 60 per cent on average while variable bias funds’ managers kept increasing gross and
Two business associates in the hedge fund management industry have been charged with defrauding institutional investors and causing collective losses of more than USD311m, according to US Attorney Zane David Memeger.
Helmut Kiener, 53, of Aschaffenburg, Germany, is charged by indictment with four counts of wire fraud, two counts of bank fraud, and three counts of money laundering, based on allegations that he devised and directed various investment fraud schemes in concert with his partner John C Tausche.
Tausche, 61, of Blowing Rock, North Carolina, is charged by information with one count of bank fraud and one count of money
Morgan Stanley this week announced the launch of a new fund on its dedicated UCITS platform, FundLogic Alternatives plc that gives investors exposure to Winton Capital Management’s Diversified Program.
The fund is the third in a series of four CTA strategies to be made available in a UCITS format through Morgan Stanley’s partnership with Equinox Fund Management LLC (“Equinox”), a US-based multi-manager, specializing in constructing portfolios comprised of multiple Commodity Trading Advisor (“CTA”) programs.
“We are proud to provide UCITS investors with access to the Winton Diversified Program, established in 1997 by David Harding,” said Alvise Munari, Managing Director and
Thanks to the recent JOBS Act (Jumpstart Our Business Startups Act), signed by President Obama last year, the Securities and Exchange Commission (SEC) has lifted advertising restrictions for hedge funds and other kinds of private investment offerings as of 2013, allowing for direct solicitation to individual investors.
The goal of the JOBS Act was to make it easier for small businesses to raise money, which would create more jobs and put people back to work. As part of that act came the lifting of a 70-year old mandate where hedge funds and private equity groups could only solicit investors with
Hedge funds posted strong gains in January as the resolution of the US fiscal cliff and investor optimism regarding the European banking and sovereign debt crisis drove gains across all hedge fund strategies to begin 2013, according to data released by HFR.
The HFRI Fund Weighted Composite Index rose by 2.8 per cent, the seventh gain in the last eight months and the strongest monthly gain since January 2012.
Fund of hedge funds gained 2.5 per cent, their third consecutive gain and sixth in last seven months.
Equity hedge led all strategies as global equity markets rallied across nearly all
Dan Mannix is to assume the role of chief executive officer at RWC from the end of February.
Mannix (pictured) replaces Peter Harrison who will remain as non-executive chairman of RWC and a significant shareholder in the business. Harrison is taking up a senior position at Schroders.
Mannix joined RWC in 2006, as a senior member of the management team and has been a key player in the growth of the number of RWC’s investment teams, as well as leading its highly successful business development team.
During this period, some of the industry’s most respected fund managers have
Hedge funds navigated January well with positive returns from all four main strategies: equity hedge, relative value, event driven and global macro/CTA, according to HFRX strategy index returns.
The HFRX Global Hedge Fund index finished January up 2.0 per cent.
This positive performance came from many sources, as Anthony Lawler, portfolio manager at GAM, explains: "We are encouraged by the fact that return drivers were diverse in January – not just long equities. Several global macro managers held on to the short Japanese yen trade, and also profited from the sell-off in safe-haven rates. Relative value managers delivered strong
The year ahead will likely remain sharply challenging for Asian hedge fund managers looking to raise new investor capital. But the “stars” of recent years that have lodged standout gains will continue to see moderate inflows from their traditional investors – US institutions – while new entrants are turning to ultra-high net worth investors, family offices and their own friends amid a dearth of institutional seed capital.
Aidan Houlihan, Managing Director for BNY Mellon’s Alternative Investment Services in Asia discusses the outlook for 2013. “From my vantage point here in Hong Kong, I believe the gathering trend for 2013 is
Indus Valley Partners (IVP), a provider of technology solutions to alternative asset managers, has launched its cloud-based Form PF Lite solution, a regulatory filing application that automates the entire SEC filing process for small to mid-range funds with an AUM of less than USD1.5bn.
IVP Form PF Lite is specifically designed to be a cost-effective option for the annual filers of Form PF.
As a cloud-based application, Form PF Lite provides a simplified and smaller set of templates than IVP’s full solution that is used for quarterly filings.
IVP Form PF Lite can be upgraded to the full application once
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