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The recent confusion and lack of direction from the Westminster Government may cause the UK to slide towards the bottom of the renewable energy production capacity table in Europe, says Luca Concone, CEO of the Real Asset Energy Fund…
At the moment wind farm capacity accounts for less than 6 per cent of the UK’s energy needs per day. On a global scale that means the UK, a G7 country, produces barely 3 per cent of the world’s wind energy capacity. The UK is now behind Germany, France, Italy and Spain in wind power capacity production.
What is perhaps
Patrick Goebel has joined international law firm Dechert’s financial services and investment management group as a partner in Luxembourg.
Goebel was previously with Allen & Overy.
"We believe we have the leading financial services practice worldwide, with unrivalled strength and depth across the US, Europe, Asia and the Middle East. In Europe specifically, we remain unique among law firms in having a presence on the ground in London, Dublin and Luxembourg, Europe’s three key funds jurisdictions. Patrick joining us further strengthens our Luxembourg offering,” says Peter Astleford, co-head of Dechert’s global financial services practice.
Goebel advises on all types of
Brian T Daly has joined Schulte Roth & Zabel as a partner in the firm’s investment management and regulatory and compliance groups.
Resident in the firm’s New York office, Daly concentrates on advising hedge and private equity fund managers on regulatory, compliance and operational matters, including registration and disclosure obligations, trading issues, advertising and marketing, and the establishment of compliance programmes.
Daly joins the firm after nearly a decade serving in-house as general counsel and chief compliance officer at several prominent hedge fund firms. He most recently was with Kepos Capital, which he joined in early 2010 as a
US-based Navatar Group is a leading provider of cloud computing for Wall Street firms, but increasingly that client base is widening out to alternative investment managers as they start to fully appreciate the benefits of cloud systems and how they can streamline their operations.
Speaking with Hedgeweek, Alok Misra (pictured), co-founder and principal of Navatar Group, says that the acceptance of cloud computing among hedge fund and private equity managers is growing “month by month”. “A year or two ago people were still asking questions around data security, but I think those worries have now largely disappeared.
“Most alternative managers
The Securities and Exchange Commission (SEC) has charged a South Florida man with defrauding at least 14 investors by soliciting them to invest in a Ponzi scheme.
A significant number of the victims were members of the gay community in Wilton Manors, Florida and included inexperienced, unaccredited investors.
In the complaint filed in the US District Court for the Southern District of Florida, the SEC alleges that James F Ellis, 69, a resident of Wilton Manors, Florida, fraudulently solicited investors for George Elia from 2004 to 2011.
Elia operated pooled investment vehicles under the names Investor Funding Club and
Reech AiM Group, an asset management group specialising in real estate and managed futures, has appointed Gary Sher as finance director and Adam Mincer as head of operations and technology.
Both will be based in London and report directly to Christophe Reech (pictured), chairman and chief executive, Reech AiM Group.
Sher will take on the existing finance function, and will also assist the CEO on the implementation of the new group strategy, including the incorporation of new teams, structures and investment vehicles. He joins Reech from East West Resources (formerly Ambrian Capital) and previously worked at Deutsche Bank.
Mincer will
Capital Markets Cooperative Research Centre (CMCRC), the Australian independent academic centre for capital market research, has shown that there is no link between high-frequency trading (HFT) and market manipulation, based on a new report using mathematical models for market abuse.
The study analysed large quantities of data to carry out an empirical study that examined the relation between the increased incidence of HFT and metrics that proxy for market abuse, particularly market manipulation.
The report found that HFT does not correlate with an increase in market abuse, using five years’ worth of data, 2006-2011, from the London Stock Exchange (LSE)
NYSE Liffe’s Robusta Coffee and Cocoa Futures contracts will be added to the Rogers International Commodity Index (RICI) for the first time.
The changes will be implemented during the January roll period, at the end of January 2013.
These new contracts will replace the existing Intercontinental Exchange’s Arabica Coffee and Cocoa contracts and will give NYSE Liffe’s Robusta Coffee and Cocoa contracts weightings of two per cent and one per cent respectively.
The index was designed to meet the need for consistent investing in a broad-based international vehicle; it represents the value of a basket of commodities consumed in
The Securities and Exchange Commission has charged a hedge fund manager in Baton Rouge with defrauding investors by hiding millions of dollars in losses suffered during the financial crisis from investments tied to residential mortgage-backed securities (RMBS).
The SEC alleges that Walter As Morales and his firm Commonwealth Advisors caused the hedge funds they managed to buy the lowest and riskiest tranches of a collateralised debt obligation (CDO) called Collybus.
They sold mortgage-backed securities into the CDO at prices they had obtained four months earlier while knowing that the RMBS market had declined precipitously in the meantime. As the CDO
Citi has completed the implementation of Man Umbrella Sicav, the Luxembourg fund business of the Man Group.
Citi will provide an integrated range of services that includes custody, depositary bank, fund administration and transfer agency services.
Man is an alternative investment management business with over USD52.7bn under management.
Man appointed Citi to provide its global shareholder services in March 2011 and this new mandate builds on the success of the collaboration between the two institutions.
"Citi’s deep understanding of Man’s business as well as its proven track record of service delivery were decisive factors in our decision to
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