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SS&C Technologies, a provider of financial services software and software-enabled services, has released Total Return 2012, an update to its portfolio and partnership accounting and reporting platform for hedge funds, funds of funds and family offices.
The enhancements will offer greater transparency for investors in line with increasing market requirements.
In response to the growing demands for additional fund disclosure, the latest release of Total Return allows for processing and Microsoft SQL reporting at various levels of detail and frequency. Key features include the integration and automation of Form PF filing, enhanced incentive fee calculations and expansion of the fund
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished July up 1.42 per cent with eight out of 10 strategies in positive territory.
In total, the industry saw estimated outflows of approximately USD8.5bn in July, bringing overall assets under management for the industry to approximately USD1.75trn.
The equity market neutral and fixed income arbitrage sectors experienced the largest asset inflows on a percentage basis for the second consecutive month, with inflows in July of 3.03 per cent and 0.22 per cent from June 2012 levels, respectively.
Managed futures funds posted positive results in July, with
The Commodity Futures Trading Commission has approved final rules to improve the risk management procedures of swap dealers and major swap participants.
The CFTC voted five to nil via seriatim to approve the final rules, which will become effective 60 days after publication in the Federal Register.
The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Commission to adopt rules on the timely and accurate confirmation, processing, netting, documentation, and valuation of all swaps, as well as the reconciliation and compression of swap portfolios. These rules fulfil this congressional direction.
Proper documentation of swaps is critical to reducing
Morningstar has called for greater transparency in the securities lending industry after conducting research into the practices of 10 European providers of physical replication exchange traded funds. Morningstar said that improvement was necessary in terms of disclosure of counterparties’ identities which remains “subject to much resistance”. Under the latest guidelines on ETFs and other UCITS-compliant funds provided by the European Securities & Markets Authority (Esma), a fund’s annual report will need to provide a list of borrowers. This should go some way to satisfying calls for greater transparency in this area.
Earlier this month Esma published ETFs and Other UCITS
Thomas Morrow, ex Winton Capital Management senior scientist, plus other leading experts in the field of quantitative trading, have teamed up to expand the successful Aquantum index business to provide systematic managed futures funds and managed accounts.
Morrow left Winton in 2008 to set up Aquantum S.à r.l, the Luxembourg-based provider of systematic investment indices to issuers of structured investment products. This led to a licensing agreement with Royal Bank of Scotland (RBS) and the launch of a series of Aquantum index-based products, which to date have attracted more than USD1 billion of investment notional. The establishment of Aquantum AG
The US Commodity Futures Trading Commission (CFTC) has filed a notice of intent to revoke the registration of Growth Capital Management LLC (GCM) of Rockwall, Texas.
GCM is a registered Commodity Pool Operator and Commodity Trading Advisor.
The CFTC’s notice alleges that GCM is subject to statutory disqualification from CFTC registration based on a default judgment order and an order of permanent injunction entered by the US District Court for the Northern District of Texas on 15 March, 2011, and 26 June, 2012, respectively (see CFTC News Release 6299-12, 9 July, 2012). The permanent injunction order requires GCM jointly and
By James Tinworth (pictured), partner in the hedge funds practice, Stephenson Harwood – The EU’s directive on Alternative Investment Fund Managers (AIFMD) is built upon a very polarised framework. In the EU:
a fund will either be a UCITS (the EU fund vehicle for retail investors) or an Alternative Investment Fund (AIF)
an AIF will either be an “EU AIF” (i.e. an AIF which is authorised or registered in an EU Member State under the applicable national law or an AIF, which is not authorised or registered in an EU Member State, but has its registered office and/or head office
The number of emerging markets hedge funds reached a record high in quarter two 2012, overcoming the headwinds of volatile performance and investor redemptions, according to the latest HFR Emerging Markets Hedge Fund Industry Report from Hedge Fund Research.
The number of emerging markets hedge funds reached a record high in quarter two 2012, overcoming the headwinds of volatile performance and investor redemptions, according to the latest HFR Emerging Markets Hedge Fund Industry Report from Hedge Fund Research.
The total number of EM hedge funds increased to 1,073 funds, representing approximately 14 per cent of all hedge funds and an
Cantor Fitzgerald plans to launch Cantor Clearing, a service providing clearing, settlement and technology solutions for financial services firms.
Cantor Fitzgerald plans to launch Cantor Clearing, a service providing clearing, settlement and technology solutions for financial services firms.
Subject to FINRA approval, Cantor Clearing will provide a suite of services to correspondent clearing firms including institutional broker dealers, online direct access broker dealers, registered investment advisers and other asset managers.
Cantor already provides equity and fixed income clearing and trade execution services to hedge funds, money management firms and proprietary trading firms via its prime brokerage unit launched in 2009.
Institutional asset manager Pyramis Global Advisors has expanded its global distribution leadership team with three senior appointments.
Maureen Fitzgerald has been hired as head of North American institutional distribution, a newly created position. She will report to Michael A Jones, president and chairman of Pyramis.
Colin Fitzgerald has been hired as head of international institutional distribution, a newly created position. He will report to Jones.
Michael Barnett will assume the role of head of Canadian institutional sales and service. Barnett was previously executive vice president of institutional sales for Pyramis. He will dual report to Robert Strickland, president of Fidelity
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