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As bond and equity trading desks whittle down to skeleton crews, new bond issuance slows to a trickle, and policymakers become more difficult to find, global economic issues seem to fade into the hazy days of August, says Scott B MacDonald (pictured), Head of Research/Senior Managing Director, MC Asset Management Holdings…
In the US more attention is being given to the political contest between incumbent President Barack Obama and his Republican challenger Mitt Romney. Considering the campaign’s nastiness and the polarisation of the voting public, this is more fun than seeking to divine communiqués from European Central Bank and Bundesbank
Indus Valley Partners (IVP), a provider of technology solutions to alternative asset managers, has expanded its New York City and Noida, India offices.
Year-to-date, IVP has added 12 new hedge fund clients globally.
To further support the office expansion, IVP has hired over 50 new employees.
Currently, IVP has more than 250 employees assisting with London, New York, Mumbai, New Delhi and Noida operations.
“Alternative asset managers are building increasingly complex portfolios at a time when regulators and investors are demanding greater transparency and more detailed reporting,” says Gurvinder Singh, chief executive and co-founder of Indus Valley Partners. “Our
Alp Ercil’s Asia Pacific fund has officially become the region’s largest hedge fund launch for 2012. The former Asia head of New York-based Perry Capital has closed the fund to new capital this week after raising an impressive USD940million according to a source familiar with the matter, reported Reuters. Ercil’s success follows that of other former hedge fund executives including Carl Huttenlocher, former Asia head of Highbridge Capital Management, who launched Myriad Asset Management in Hong Kong last December and who, earlier this year, had already reached USD900million in AUM.
Other high-profile start-ups in the region this include Tybourne Capital,
AQR Capital Management, an independent alternative investment management firm with USD54.5bn under management, has established a London office.
Based in Greenwich, Connecticut, AQR has a systematic and disciplined approach to asset allocation, portfolio construction and risk control. Its offerings range from traditional benchmark-oriented long-only strategies to absolute return alternative strategies.
David Kabiller (pictured), co-founding partner and head of client strategies at AQR, says: “Establishing a London base brings us in closer communication with our growing client base in Europe and globally, and underlines our continued commitment to providing UK and European institutional investors with superior research and portfolio solutions.
“We
A few days after the initial shock of the enormous problems facing Knight Capital began to subside, only months after the Facebook IPO and its subsequent fall-out, TABB Group decided to measure the institutional community’s confidence in US equity market structure.
Surveying market participants between August 6 and 13, TABB learned that only two per cent of the respondents drawn from broker/dealers, asset managers, hedge funds, execution venues and vendors rate their confidence level as very high, down markedly from 12 per cent in a May 2010 TABB survey following the Flash Crash.
According to Adam Sussman, a TABB partner,
KPMG, the audit, tax and advisory firm, is continuing its investment in its alternative investment funds practice by bringing on board several new partners and managing directors.
“KPMG is committed to becoming the market leader in serving the alternative investments industry and our latest additions to the team demonstrate our goal to have the broadest set of skills and in-depth knowledge of the most important regulatory and business issues facing the industry,” says Al Fichera, national partner in charge, alternative investments – audit.
The new hires and transferees include:
Ted Carreiro, partner
Carreiro joined KPMG in June 2012
Olivetree Financial Group, an equity brokerage and technology firm, has appointed Charlotte Wall to managing director and global head of product sales in London and New York.
Wall will begin her new role on 1 November 2012. Her key responsibilities will be to head up global sales of Olivetree Solutions’ OTAS platform to buy-side institutions, including asset managers and hedge funds.
Wall joins Olivetree from Markit Securities Finance, where she was also managing director and head of sales, following Markit’s acquisition of Data Explorers. Before that, she spent four years at Data Explorers and 16 years as managing director
The Depository Trust & Clearing Corporation (DTCC) has appointed Donna M Milrod as chief administrative officer, effective mid-October.
Milrod (pictured) will report to president and chief executive officer Michael Bodson and serve as a member of the company’s management committee.
Milrod will have responsibility for the company’s finance, operations, regulatory relations, business continuity, vendor management and security functions.
“We are delighted that Donna is joining the DTCC leadership team,” says Bodson. “She is a proven leader with extensive global operations, finance and capital markets experience that will serve our company well as we continue to strengthen our core businesses and expand
The Financial Services Authority (FSA) has published proposals to ban the promotion of Unregulated Collective Investment Schemes (UCIS) and similar products to the vast majority of retail investors in the UK.
The proposed rules mean that, in the retail market, promotions will generally be restricted to sophisticated investors and high net worth individuals for whom the products are more likely to be suitable.
Currently, UCIS can be promoted to ordinary retail investors if an adviser first assesses the product’s suitability. In effect, the consultation paper should prevent firms from marketing UCIS to ordinary retail customers, even in the context of
The SS&C GlobeOp Forward Redemption Indicator for August 2012 measured 3.34 per cent, up from 2.18 per cent in July.
"Forward redemptions increased in August which is typical as we approach quarter end but redemption notices remained at moderate levels indicating continued investor satisfaction with alternatives," says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients
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