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The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight (DSIO) has issued a no-action letter to provide relief from registration for various swaps intermediaries until 31 December 2012.
Without the delay, certain entities would have to be registered immediately.
Specifically, the letter provides a registration delay for any person who, solely by virtue of its swaps activity, would have been required to register immediately as an introducing broker, commodity pool operator, commodity trading adviser, associated person (AP), floor broker, or floor trader.
The DSIO letter also provides delay for any person who would be required to
Maples Fund Services has expanded its US operations with the hire of Megan Corcoran as director of business development, Americas.
Based in New York, Corcoran will focus on expanding opportunities for continued growth of the fund services business in North America and South America.
Corcoran will work closely with Scott Somerville, chief executive of MaplesFS, and Toni Pinkerton, global head of fund services, to sell fund administration, middle-office and risk services to the alternative investment market. With an increase in assets under administration of more than 30 percent over the past year, the addition to the business development team is
Swiss-based Pharus Management has launched Pharus Management Luxembourg SA to manage UCITS compliant SICAVs, specialized investment funds and alternative funds under the Alternative Investment Fund Managers Directive, reported Investment Europe this week.
Funds wishing to take advantage of the European passport will either have to implement complex control mechanisms or outsource them to a management company. Pharus Management Luxembourg, which will target existing SICAVs as well as alternative funds with at least EUR100million in AUM, will act as manager, sponsor, risk manager and distributor. It will also incorporate Pharus SICAV, which manages a suite of 18 funds running approximately EUR210million
Most people have quite a clear attitude towards losing money from their investments – that they don’t like it – and for good reason. However, investors are urged not to attempt to avoid short-term losses by trying to time the market as this often leads to bigger and more permanent financial losses, says Anil Jugmohan (pictured), CFA, Investment Analyst at Nedgroup Investments…
With greater losses an even bigger gain is subsequently required to recover. Investors therefore feel that avoiding such a loss in the first place will automatically hold them in good stead to achieve better than average long term
eFront, an alternative investment software solutions provider backed by private equity firm Francisco Partners, has acquired DMLT, a provider of investor reporting and portal services for the alternative asset community.
“I am pleased to bring together two world-class organisations to better serve the global alternative investment market,” says Olivier Dellenbach (pictured), eFront founder and CEO. “eFront and DMLT offer proven and complementary solutions. Together, these platforms will set the standard for the next generation of investor portals which are needed to facilitate the transfer of increasingly rich sets of information between parties within the AI community.”
eFront’s global operation will
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for September 2012 measured 1.11 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 0.67 per cent in October.
"Inflows have remained steady, while outflows have spiked in line with quarter-end rebalancing," says Bill Stone, chairman and chief executive officer, SS&C Technologies.
Cumulatively, the SS&C GlobeOp Capital Movement Index for October 2012 stands at 148.50 points, a decrease of 0.67 points over September 2012. The index has advanced 11.05 points over the past 12 months.
The SS&C GlobeOp Hedge Fund Performance Index is
The hedge fund industry took in USD5.1bn (0.3 per cent of assets) in August, reversing a USD9.2bn outflow (0.5 per cent of assets) in July, according to BarclayHedge and TrimTabs Investment Research.
Based on data from 2,999 funds, the TrimTabs/BarclayHedge Hedge Fund Flow Report estimated that industry assets stood at USD1.7trn in August, down 28.7 per cent from their June 2008 peak of USD2.4trn.
“The inflows we saw in August could not mask the profound troubles facing the hedge fund industry this year,” says Sol Waksman, founder and president of BarclayHedge. “While the industry had inflows in four of the
The existing management team of Larch Lane Advisors, a specialist in early stage hedge fund investing and seeding, is to acquire the business from parent company Old Mutual Asset Management (US).
The transaction is expected to close by the end of 2012. Following the close of the transaction, Larch Lane will be 100 per cent employee owned and its management team, led by Mark Jurish, will continue to operate the business in the same manner as it is currently conducted, with no changes to its executive team, operating procedures, or investment philosophy.
"There is no better investment than in our
The Alternative Investment Management Association (AIMA), the global hedge fund association, has launched a Middle East initiative.
AIMA is seeking to create a network for managers and service providers in the Middle East that can give the local industry a voice in terms of engaging with investors and its relations with policymakers and regulators.
The initiative will be spearheaded by former AIMA chairman and current AIMA EMEA Regional Advisory Council member Sohail Jaffer of FWU Group, who is based in Dubai.
The focus of AIMA’s Middle East initiative will be investor engagement given the increasing interest in hedge funds
Reech AiM Group, the international asset management group specialising in absolute return strategies, has appointed Daniel Betts as client services director.
Based in London, Betts will oversee all client service functions including relationship management, sales support, marketing and market research. He will report directly to Christophe Reech, chief executive of Reech AiM Group.
Betts joins Reech from Aviva Investors, where he was most recently client relationship manager, responsible for providing client services to both wholesale and institutional clients, and sales support to the sales directors. Previously Betts was part of the investment sales support team at Aviva Investors.
Betts’ appointment
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