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The Securities and Exchange Commission has voted unanimously to propose joint rules with the Commodity Futures Trading Commission that would further define a series of terms related to the security-based swaps market.
The terms include “swap dealer,” “security-based swap dealer,” “major swap participant,” “major security-based swap participant” and “eligible contract participant.”
The rules seek to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which among other things established a framework for regulating the over-the counter swaps market.
SEC chairman Mary L. Schapiro says: “Today’s proposals lay out objective criteria, but they are just a first step,
- 06/12/2010
The Swiss Funds Association has appointed Petra Reinhard Keller of Credit Suisse Asset Management Funds in Zurich to its board of directors.
Reinhard Keller is a managing director and head fund solutions and clients services as well as deputy chief executive of Credit Suisse Asset Management Funds.
She replaces Raoul-Philip Bachmann, who has left Credit Suisse and has thus stepped down from the SFA board of directors.
Reinhard Keller has been active in the fund business for ten years, holding executive positions for most of this time.
“Petra Reinhard Keller is a seasoned expert in the funds and asset management
- 06/12/2010
Fortress International is launching an open-ended, fully regulated specialised investment fund in Luxembourg.
The fund is open for subscription from 1 December as a Sicav SIF offering GBP, Euro and USD share classes.
When the markets become volatile as a result of asset correlation, the fund’s investment in life settlement policies, also known as traded life policies, offers protection. This strategy is expected to optimise the risk-return proposition for the long-term investor.
Peter Dodd, Fortress’ managing director, says: "The global trend is for regulation of investment funds, and Fortress always prides itself in doing what’s best for investors and staying
- 06/12/2010
Law firm Harneys has opened an office in Montevideo, Uruguay.
Law firm Harneys has opened an office in Montevideo, Uruguay.
Led by Marco Martins, a partner and head of the firm’s Latin America practice, the Montevideo office will improve the firm’s ability to service clients throughout Latin America.
Martins says: “Our ultimate goal is to be able to provide the best service possible to clients in the region, in local language and with a full appreciation for the economic, cultural and dynamic needs of the region, and a Harneys office in Latin America is another important step in our
- 06/12/2010
- 06/12/2010
New Stream Capital has reached agreement with its Bermuda investor classes that would provide for an orderly wind-down of New Stream Secured Capital, one of the funds for which it is a general partner.
As a part of the agreement, New Stream Capital structured the sale of the fund’s life insurance settlement and premium finance loan portfolio for approximately USD127.5m plus bridge financing.
Currently, New Stream Capital is meeting with its Cayman and US investors to share the details of the agreement reached with the Bermuda class investors. Once formal consent is obtained from the Cayman and US investors,
- 06/12/2010
The Signet Group, a specialist in absolute return multi-manager investments, has reached an agreement with Wilshire Funds Management, a business unit of Wilshire Associates, to provide an enhanced transparency absolute return portfolio management service to its institutional clients.
Wilshire Funds Management will leverage its existing funds platform and accompanying tools to provide transparent due diligence and risk monitoring support for multi-manager absolute return investment portfolios managed/advised by Signet.
This will include: portfolio risk analysis based on position-level information collected from all underlying funds; measurement and aggregation of portfolio exposures to various risk factors; and investment guidelines compliance at individual manager
- 06/12/2010
S&P Equity Research invites you to ‘POWER PICKS 2011’ – Wednesday 8
December, London (Merchant Taylor’s Hall), 17.00 – 18.00
Financial professionals and portfolio managers are invited to join S&P for
an exclusive view of S&P Equity Research’s expectations for 2011, direct
from the research team, identifying some of the key themes, sectors and
stocks we expect to outperform the broader market.
Our analyst team will be on hand to answer specific sector questions.
As there is limited seating for this event, please register for free to
confirm your place today or to request S&P’s ‘2011 Outlook’ paper.
- 05/12/2010
The Dutch Hedge Fund Index gained 1.2 per cent in October in line with other liquid hedge fund indices.
October was the fourth profitable month in a row, despite volatility and a down month for equities in August.
Hedge funds with a focus on equity strategies were the most profitable in October, while global macro funds lagged.
The five best performing funds in October were: European Opportunities Fund; Fonds Bloemendaal; Aster-X Panorama Fund; VOC Capital Commodity Alpha Fund; and Aster-X Europe Fund.
The five funds with the best year to date performance are: Trade Wind Equity Fund (+24 per
- 05/12/2010
New York Life Investments has signed an agreement to acquire a majority stake in Private Advisors, an alternative investment firm based in Richmond, Virginia.
With USD3.9bn in assets under management, the firm has a 13 plus year track record across a range of fund of funds, including the firm’s flagship low volatility multi-strategy capability, launched in 1998.
"Private Advisors has a long history of delivering risk-adjusted investment returns, with a strong focus on capital preservation. The firm has a well-defined investment process that incorporates investing in alternative investment managers with proven track records," says John Kim, president and chief executive
- 05/12/2010
Hedge funds investing in the emerging markets of Russia, Latin America, emerging Asia and the Middle East have produced the strongest year-to-date gains across the hedge fund industry, according to the latest data from Hedge Fund Research.
The HFRI Emerging Markets (Total) Index has gained 9.3 per cent through October, outpacing the 6.8 per cent gain of the broad-based HFRI Fund Weighted Composite Index.
Despite the gains, investors remained cautious on new allocations to emerging markets hedge funds, allocating only USD10m of net new capital to emerging markets funds in 3Q10.
In comparison, investors allocated over USD19bn of new capital
- 05/12/2010
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