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The Australian Securities and Investments Commission has released policy guidance on its power to wind up an abandoned company under new powers contained in the Corporations Act 2001.
ASIC has also updated its guidance on ASIC’s approach to, and criteria for, funding liquidator investigations, reports and actions from the Assetless Administration Fund (AA Fund).
Deputy chairman Belinda Gibson (pictured) believes the release of today’s policy guidance provides clarity to insolvency practitioners and those impacted by corporate insolvencies about how ASIC will use its new powers to apply the funds in the AA Fund to the best effect.
“The provision of guidance
Maitland, a provider of fund administration, multi-jurisdictional legal, tax, fiduciary and investment advisory services, has acquired Admiral Administration.
Admiral is a hedge fund administrator with offices in the Cayman Islands; Dublin, Ireland; Halifax, Nova Scotia; and Richmond, Virginia.
It combines best of breed technology including Advent Geneva, Advent Partner and Paladyne with qualified staff to provide clients with a customised solution to meet the specific needs of the alternative investments industry including hedge funds, private equity funds, Ucits and other regulated funds.
The acquisition of Admiral supports Maitland’s strategy of targeted growth, expanded global reach and leadership in the fund
Cantab Capital Partners, the systematic global macro manager, has closed its flagship CCP Quantitative strategy to new investors.
The strategy was launched in 2007; it currently manages USD4.5bn in assets.
Ewan Kirk, chief investment officer and founding partner of Cantab, says: “The strategy is currently at the optimal size for us to continue delivering attractive risk adjusted returns to our investors,’ he said. ‘Our efforts are focused on sustaining the performance and continuing to produce the returns with limited correlation to other CTAs and asset classes.”
The CCP Quantitative Fund was launched nearly six years ago with just
The Eurex KOSPI Product traded 352,562 contracts on 7 November 2012 – a new daily record since the June 2012 introduction of the 500,000 KRW contract multiplier.
The trading value of this daily record equals 121 billion Korean Won.
Average daily volume year-to-date: 139,431 contracts
Average daily volume 2011: 71,454 contracts
Total volume year-to-date: 29,419,984 contracts
Total volume full year 2011: 17,577,676 contracts
Schroders’ Virginie Maisonneuve (pictured), Head of Global and International Equities comments on the once-in-a-decade leadership transition in China, which is set to be unveiled at the party conference. The implications for China and the global economy are significant and that the change should bring relief to Chinese equity markets…
This leadership team could be the last of its kind. The new leader, Xi Jing Ping, is still in the vein of Deng Xiao Ping who led China towards a market economy in the eighties, but he could potentially be steering China towards a new leadership style.
So far, Xi Jing
AXA Private Equity announced this week the opening of its first China office in the country’s capital, Beijing. This continues the firm’s expansion in Asia having opened its first office in Singapore in 2005.
It has since deployed USD1.3billion of capital across the region. AXA Private Equity said the Beijing office would allow it to strengthen relationships with “key private equity market players”. It sees attractive partnership opportunities between Chinese and European companies, and, by leveraging its global reach and diverse European portfolio, AXA Private Equity intends to play a key role in enhancing these potential synergies.
Jenhao Han, Managing
NYSE Euronext has announced the 2013 holiday calendar and early closing dates for its European markets.
NYSE Euronext’s European cash markets, including NYSE Arca Europe and SmartPool Trading, and its derivatives markets will be open Monday to Friday through 2013 except on the following days:
• Tuesday 1 January 2013 (New Year’s Day)
• Friday 29 March 2013 (Good Friday)
• Monday 1 April 2013 (Easter Monday)
• Wednesday 1 May 2013 (Labour Day) [On Wednesday 1 May 2013, certain London market contracts will however be available for trading, i.e. interest rate products, UK-based commodity contracts and those equity derivatives for which the
Nine Lyxor strategy indices out of 14 ended the month in positive territory, led by the Lyxor Long/Short Credit Arbitrage Index (+1.7 per cent), the Convertible Arbitrage Index (+0.5 per cent), and the Distressed Index (+0.6 per cent).
The Lyxor Hedge Fund Index declined 0.6 per cent in October (+1.6 per cent in 2012 to date).
Earnings, as usual, generally beat expectations, but revenues and forward guidance disappointed investors. Fundamental news therefore drove most stock returns more than rumours about political deals did. Markets turned more pessimistic on growth mid-month and declined, but European equity markets managed to hold onto
The Depository Trust & Clearing Corporation (DTCC) processed approximately USD19trn in securities transactions last week during the events of Superstorm Sandy.
During and since this time period, DTCC has remained operational from its multiple out-of region facilities.
The company’s New York-based employees began working remotely at the onset of the storm, and DTCC’s emergency recovery centre in Brooklyn was active by 31 October.
“DTCC’s robust business continuity strategy includes having a number of facilities operating on a daily basis from different locations, maintaining multiple technology redundancies and a disbursed employee population. This enables us to stay operational even under the
Bridgehampton Capital Management, a manager of long-biased hedged and unhedged investment partnerships and privately managed accounts, has launched its first mutual fund, the Bridgehampton Value Strategies Fund.
The new fund seeks higher returns and lower volatility than the S&P 500 Index over a three to five year time horizon.
The fund pursues this investment objective by employing a combination of long-biased and market neutral arbitrage trading strategies that principally entail investments and hedges in common stock, convertible securities, and debt securities issued by companies of any market capitalization, primarily in the US.
In addition to long investments in fixed income
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