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The Northern District of California has entered an emergency order freezing the assets of defendants Victor Yu of San Jose, California, and his company VFRS based in Alameda, California.
The court’s order also prohibits the destruction or alteration of books and records, and grants the CFTC immediate access to such documents. The judge set a hearing on the CFTC’s motion for a preliminary injunction for 10 August 2012.
The order arises out of a civil enforcement action filed by the CFTC on 26 July 2012, charging defendants Yu and VFRS with defrauding at least 100 clients in connection with off-exchange
Fund managers believe the European Commission’s Alternative Investment Fund Managers Directive will lead to fewer non-EU fund managers operating in Europe resulting in a less competitive market, according to research from Deloitte.
More than two-thirds (68 per cent) believe that AIFMD will reduce the competitiveness of the EU’s alternative investment funds industry.
The same number believe the directive will result in fewer non-EU managers operating in the EU and 61 per cent believe AIFMD will affect their choice of fund domicile, leading to reduced choice for investors.
Stuart Opp, lead investment partner at Deloitte, says: “The directive continues to
Julian Skingley, partner in financial services at Ernst & Young EMEIA, comments on the recent FATCA intergovernmental agreements (IGAs)…
The announcements from the IRS today will be welcomed by the financial services industry, particularly those domestic institutions in the EU5, as they include crucial concessions on timescales, scope and documentation requirements. It’s encouraging that the respective governments have listened to the concerns of the financial services industry and, although the task of implementing FATCA remains substantial, it now at least looks more achievable. As ever with FATCA, the good news for some organizations opens up a whole new raft of
TT International, a UK based high-alpha specialist offering long only and hedge fund strategies, has adopted the MSCI Europe ex UK Index as the benchmark for the TT Europe ex UK Equity Fund, replacing the FTSE Europe ex UK Index.
TT International already uses a wide range of MSCI indices as benchmarks for its funds, including the MSCI EAFE, MSCI ACWI ex US, MSCI World ex US, MSCI Emerging Markets, MSCI Europe and MSCI AC Asia ex Japan Indices.
“The MSCI indices are all built according to the same underlying construction rules, which means we can quickly and easily compare
LCH.Clearnet Group has appointed Martin Ryan as group head of operations and client services, reporting to Christophe Hemon, group chief operating officer.
Ryan joins LCH.Clearnet from RBS where he held the position of managing director, head of markets operations for three years.
RBS Markets Operations supports a number of sales and trading businesses globally including fixed income, currencies and commodities, corporate risk solutions, institutional coverage research and strategy, and global structuring.
Hemon says: “The variety and range of experience Martin has from his previous roles have given him a broad skill set that will enable him to successfully fulfil the
Citi has been awarded a mandate by Value Partners Group, one of Asia’s largest asset management firms, to provide a complete suite of global custody, fund administration, and fiduciary services for Value Partners’ first Ucits-compliant fund, Value Partners Absolute Greater China Classic Fund.
Launched in June 2012, the new Ucits fund is a sub-fund of Value Partners Ireland Fund, a Dublin-domiciled umbrella company regulated by the Central Bank of Ireland.
"Given the current challenging macro environment and the European sovereign debt crisis, investors are keen to explore fund products that have an Asian focus and exposure” says Timothy Tse, chief
Oaktree Capital Group has recruited Julio Herrera to manage a new Emerging Market Opportunities investment strategy focused on distressed and dislocated corporate and sovereign debt.
Prior to joining Oaktree, Herrera was president of Fintech Advisory, which manages a multi-billion dollar emerging market portfolio.
Herrera has more than 20 years of experience investing in undervalued and distressed assets in emerging markets.
“We’re delighted to have Julio join our team,” says Howard Marks, chairman of Oaktree. “He has extensive experience investing in distressed assets in the emerging markets and shares Oaktree’s bottom-up, value-oriented investment approach. We’re particularly pleased to have Julio lead
FundCount, a provider of investment management and accounting software, has integrated FINCAD’s F3 into its FundCount Risk Analytics solution.
F3 provides comprehensive, calculated risk measures that enable companies to obtain a better picture of their portfolio's risk.
FundCount provides technology for financial professionals such as hedge funds, fund administrators, fund of funds, asset managers, private equity funds, and single and multi-family offices. Its clients are worldwide with assets totalling USD25bn.
FundCount creates tools to perform comprehensive portfolio management and partnership accounting, compliance, CRM, web reporting, document management, and more. With the F3 risk platform, FundCount will be able to offer
Providers of outsourced services not only can help hedge fund managers meet the new requirements of regulators and investors for more detailed and timely investment data, they can help managers better use the data they have to streamline their operations or refine their product offerings, says Pat Hayes, a senior managing director with State Street Alternative Investment Solutions in Ireland…
Changes sweeping across the investment industry pose profound implications for hedge fund managers and how they manage data. As investors develop new approaches to asset allocation and risk management, their demand for enhanced information is accelerating. Compounding this challenge for
Singapore-based asset manager, Milltrust International Group, founded by Simon Hopkins in January 2011, has launched an innovative range of emerging market UCITS funds, ad
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