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Linedata has released a new version of Icon, its fund accounting and administration platform.
This latest version delivers more efficient business processing and workflows, including pro-active exception handling and extended instrument coverage.
Linedata Icon manages, either on a hosted or deployed basis, all the processes that need to take place to produce a true net asset value and accurate unit prices.
This release of Linedata Icon includes enhanced facilities for handling money market funds. In response to market shifts towards more complex and diverse fund structures, it also includes greater, readily configurable, collective pricing functionality.
Paul Westgate,
LCH.Clearnet Group will extend its clearing business for OTC interest rate instruments to Australian banks.
LCH.Clearnet will apply for an Australian clearing and settlement facility licence that would enable it to offer its SwapClear OTC interest rate swap clearing to Australian banks, allowing them to join the existing services used by 70 international bank members.
Four of Australia’s five domestic banks have submitted letters of intent to use LCH.Clearnet’s SwapClear to clear interest rate swaps.
LCH.Clearnet’s SwapClear service currently clears AUD3.9trn in Australian dollar denominated swaps, and the international members of the service have expressed strong support for SwapClear’s expansion
By James Williams – Last week GLG Partners – now part of Man Group – hosted a “Bulls and Bears” breakfast roundtable. Ben Funnell, Chief Equity Strategist and portfolio manager for long only and UCITS-III global equity mixed asset funds, presented a bullish argument for Europe. Jamil Baz (pictured), GLG’s Chief Investment Strategist, gave a more bearish prognosis for global economic recovery.
Following the ’08 global financial crisis, countries like Ireland, which were positively booming prior to the crash, have cut their labour expense costs by some 20 per cent. This has helped stabilise the country and allowed it to
Gottex Fund Management’s core hedge fund strategies and solutions business is to focus on offering bespoke and specialised hedge fund products and solutions to institutional clients around the world in 2013.
The firm intends to expand its product offerings and capabilities both organically and non-organically in the coming year.
In terms of strategic growth initiatives for 2013, Gottex intends to grow its multi asset offering and capabilities in Europe and Asia on the back of its record of positive investment performance.
The firm will further develop its growing Asian business as the gateway between non-APAC based investors seeking to
Multiplicity Partners has broadened its service offering to include valuation services and advisory on alternative investment strategy implementation and product selection.
Roger Rüegg, partner at Multiplicity, says: “Our typical mandate on illiquid assets covers many aspects of the alternative investment (AI) value chain – at various stages of a product’s life cycle. Increasingly, clients are seeking advice on single elements of our offering in the hope to get the ball rolling internally.”
An example for a specific mandate is the wish for an independent pricing of illiquid and impaired fund investments based on actually traded prices and market bids. Most
Steben & Company, a provider of managed futures funds, has named Richard Kendrick as chief marketing officer.
Kendrick, most recently with ProShare Advisors, will oversee all marketing and brand strategy for the firm.
He reports to Ken Steben, president and chief executive of Steben & Company.
"Since 1989, Steben & Company has earned a reputation for excellence in managed futures," says Steben. "We are incredibly pleased that Rich has joined our executive team. His extensive experience in marketing strategy, brand management and investor education will be crucial as we continue to extend the strength of our brand further into the
Interview with Matt Mulry – Last year’s Weavering case, in which Justice Jones QC examined in detail the role of independent directors and the operation of a Cayman fund, proved to be a watershed moment for the Cayman Islands.
Neither of the Weavering Macro Fixed Income Fund’s directors was Cayman-based or registered with CIDA (Cayman Islands Directors Association). Rather than harm the island’s reputation, their failings helped accentuate the good work of Cayman directors and “re-affirm what Cayman directors have been doing”, says Matt Mulry, partner at Dillon Eustace (Cayman).
“The case shone a light on the director’s role as
By Ian Gobin, partner, Appleby – Want to set-up your own hedge fund? If so, you’re not alone. According to a recent report by the Financial Times, last year more than 1,100 new hedge funds launched globally, the highest number since 2007.
There are many factors that will determine the successful launch of a new hedge fund. Your hedge fund must have a competitive advantage over others in the market. You must have a clearly defined investment strategy with a successful track record (at least 2-3 years) and have a front-, middle- and back-office. You must be able to raise
By Mike Saville, Grant Thornton – Previously, a number of superstar hedge fund managers felt that investors should be honoured to have their subscriptions accepted, and consequently dictated the terms of the investment. Today, however, things have changed. Increasingly, institutional investors are dominating cash inflows to hedge funds, and their needs are different. Given the size of ticket many are writing, the tables have turned. They are now the ones dictating the terms to managers. Not surprisingly, the scene is set for conflict.
Some fundamentals remain the same. Investors continue to be sophisticated and many would resent too many imposed
By James Williams – Last year’s Weavering case could have been a hammer blow for Cayman as the world’s leading offshore fund domicile. But, if anything, it helped reinforce its image as a jurisdiction where fund governance is taken seriously, where directors are members of the Cayman Islands Directors Association (CIDA), and where the island’s regulator, the Cayman Islands Monetary Authority (CIMA), is committed to evolving its fund regulation framework.
“While there may be a perception that independent directors have only recently focused on their roles, the genuine development – and key recent change – is the realisation by investors
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