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The GlobeOp Forward Redemption Indicator for July 2012 measured 2.18 per cent, down from 3.71 per cent in June.
"Forward redemptions remain low, this month’s percentage being one of the lowest in the history of the Indicator,” says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by GlobeOp, divided by the AuA at the beginning of the month for GlobeOpfund administration clients.
Forward redemptions as a percentage of GlobeOp assets under administration have trended significantly lower since reaching a high of 19.27 per
Imagine Software, a provider of cloud-based portfolio and risk management solutions, has launched the Imagine Financial Platform (IFP) and the Imagine Marketplace.
With these offerings, Imagine provides a cloud-based environment enabling financial institutions, service providers, consultants, and other third parties to use, create, and distribute applications—Imagine Apps—that leverage, customise, and extend the Imagine Trading System.
The Imagine Financial Platform leverages the full set of capabilities native to Imagine including its analytics and data universe to allow for the creation of apps that fulfil mission-critical business needs in areas such as regulatory requirements, compliance, portfolio performance and monitoring, workflow automation, and
Van Eck Associates has acquired a hedge fund beta business and team from Lyster Watson, and will be offering a suite of strategies called Trackers.
Trackers are hedge-style beta strategies based on indexes developed using a patented methodology and proprietary intellectual property.
Each index seeks to capture the beta of a specific hedge fund strategy, and the Trackers team focuses only on those hedge fund strategies whose returns can be statistically replicated using tradable risk factors represented by US-listed ETFs.
The team believes that not all hedge fund strategies are conducive to this approach.
The Trackers business currently includes the
Investors continued to allocate new capital to the hedge fund industry in quarter two, exhibiting a clear and continued preference for strategies with characteristically low exposure to global equity markets, according to the latest HFR Global Hedge Fund Industry Report.
Investors allocated USD4.1bn in net new capital to hedge funds in 2Q12, bringing net inflows in 1H12 to over USD20bn. Despite the inflow, total hedge fund capital pulled back from the record level set in 1Q12 as a result of the -2.7 per cent performance of the HFRI Fund Weighted Composite Index in 2Q12, resulting in a total industry capital
Guernsey’s much discussed corporate governance code came into effect at the beginning of the year. Carol Goodwin (pictured) highlights its key principles, asserting that good corporate governance is about board behaviour and not always about the rules.
Never has so much been demanded from boards, their directors and their company secretaries since the start of the turmoil in the global economy. Never have their skills, knowledge and experience been so highly challenged; and never, ever have robust procedures and systems of governance been so vital.
What have we learned from the recent global financial crisis? Robust systems of governance cannot
Patricia White (pictured), managing director of Legis Fund Services, discusses how the fund industry in Guernsey is faring at a time when the eurozone economy remains fragile.
While the debt crisis continues to plague the eurozone there is a constant fear of the impact in the wider global economy. Concerns remain that the eurozone is in recession after GDP fell 0.3% in the final three months of 2011, with a further contraction anticipated in the first quarter of 2012. Manufacturing downturn is greater than expected and unemployment in the 17 countries adopting the euro has hit its highest since
The Securities and Exchange Commission has charged the US investment banking subsidiary of Japan-based Mizuho Financial Group and three former employees with misleading investors in a collateralised debt obligation by using “dummy assets” to inflate the deal’s credit ratings.
The SEC also charged the firm that served as the deal’s collateral manager and the person who was its portfolio manager.
According to the SEC’s complaint against Mizuho Securities USA, the firm made approximately USD10m in structuring and marketing fees in the deal. Mizuho agreed to pay USD127.5m to settle the SEC’s charges, and the others charged also agreed to settle
This week VAM Funds, the Luxembourg-based specialist fund manager announced it had expanded its Asian team with the appointment of Paul Bamber as sales manager.
Berry Palmer & Lyle (BPL Global), a political risk insurance broker, has opened a Singapore subsidiary, following on from the opening of its Hong Kong branch in early 2011.
Berry Palmer & Lyle (BPL Global), a political risk insurance broker, has opened a Singapore subsidiary, following on from the opening of its Hong Kong branch in early 2011.
Anthony Palmer (pictured), one of the founding directors of the firm in 1983, is the new company’s chief executive with Harry McIndoe as his deputy. Both have relocated from London to set up the new office.
Additional team members are being recruited
Two options traders who the Securities and Exchange Commission charged earlier this year with short selling violations have agreed to pay more than USD14.5m to settle the case against them.
An SEC investigation found that brothers Jeffrey A. Wolfson and Robert A. Wolfson engaged in naked short selling by failing to locate shares involved in short sales and failing to close out the resulting failures to deliver.
SEC rules require short sellers to locate shares to borrow before selling them short, and they must purchase securities to close out their failures to deliver by a specified date.
The Wolfsons made
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