Latest News
Lance Futures, a brokerage service provider in Germany, is launching a multi-adviser alternative investment fund that integrates the return flows of various money managers in order to generate risk-adjusted returns with relatively low volatility.
The Strategic Investment Fund will be launched this month and is expected to diversify fund assets across a team of managers, whose strategies and expertise cover counter-trend, following trend, recognition of pattern, intra-market spreads as well as option arbitrage volatility.
The fund uses trading strategies across over 40 futures market exchanges in the world and explores these markets at several time frames.
It targets ten to
- 06/10/2010
LCH.Clearnet has enhanced the clearing functionality of its CDS offering in line with best market practice.
These enhancements, which have been designed and tested in collaboration with its clearing members, include:
• Refinements to the risk management framework
• Integration of the DTCC’s new automated credit events procedures (implemented 4 October 2010) and
• Implementation of CLS system connection for product related cash flows settlement
Christophe Hémon, chief executive, LCH.Clearnet, says: “The collaboration and dedication of our clearing members is critical to the enhancement of our services. We seek to build clearing models which fit with current market practices and which answer our
- 06/10/2010
- 06/10/2010
The European Life Settlements Association has launched a code of practice designed to increase protection for investors in the expanding asset class of life settlements.
The publication of the code comes at a time of controversy for life settlements, which have come under increasing scrutiny from regulators and media alike as the asset class has spread further into the retail market.
The collapse of UK fund provider Keydata and the high profile under-performance last autumn of two Deutsche Bank funds have highlighted the need for greater transparency and education around life settlement investment risk, as well as for more rigorous
- 06/10/2010
Six out of seven IQ hedge fund replication and alternative beta indices were positive in September, data from IndexIQ shows.
The IQ Hedge Long/Short Beta Index rose 5.25 per cent, event-driven rose 3.58 per cent, market neutral was up 1.32 per cent, emerging markets increased 5.70 per cent, fixed income arbitrage rose 2.19 per cent and composite was up 3.00 per cent.
The IQ Hedge Global Macro Beta Index fell by 0.02 per cent in September.
Year-to-date, the Long/Short Beta Index is the strongest performer, up by 11.45 per cent.
- 06/10/2010
The US Commodity Futures Trading Commission’s enforcement programme filed 57 enforcement actions in fiscal year 2010, 14 per cent more than in FY 2009 and 42 per cent more than in FY 2008.
The division of enforcement’s filings involve allegations of manipulation, fraud, abuse and other violations of the Commodity Exchange Act.
These 57 actions have resulted in more than USD186m in civil monetary penalties, restitution and disgorgement.
Additionally, the division of enforcement opened 419 investigations in FY 2010 – an all-time high and 66 per cent more than the 251 investigations opened in FY 2009.
Of the
- 06/10/2010
Investors who do not hold gold or view it purely as a temporary safe haven asset are failing to harness its full potential to protect wealth, according to a study published by the World Gold Council.
In its latest report, Gold: Hedging Against Tail Risk, the WGC shows that a modest, consistent holding of gold mitigates the potential for significant loss of value during extreme market events.
In the analysis the WGC shows that during the period between October 2007 and March 2009—the height of the global financial meltdown—an investor with a portfolio of USD10m experienced an additional USD500,000 financial
- 06/10/2010
Only 31 per cent of hedge fund managers are bullish on the S&P 500, according to the TrimTabs/BarclayHedge Survey of Hedge Fund Managers for September.
About 37 per cent of the 109 hedge fund managers surveyed are bearish on stocks, while 32 per cent are neutral.
“Hedge fund managers were extremely bearish on equities at the end of August, and they remain downbeat even though the S&P 500 soared 8.8 per cent in September,” says Sol Waksman, founder and president of BarclayHedge. “Negative sentiment has proven costly, as the industry underperformed by more than 500 basis points last month. But
- 06/10/2010
Conyers Dill & Pearman has hired attorneys in London and Hong Kong and has strengthened its Cayman Islands and Bermuda practices.
Veronica Strande joins Conyers’ London office where she specialises in capital markets, Islamic finance, restructuring and corporate matters.
In Hong Kong, Conyers has appointed Japanese-speaking investment funds and corporate associate Junko Shiokawa (pictured). Conyers celebrates its 25th anniversary in Hong Kong this year and continues to act on the vast majority of offshore listings on Asian stock exchanges.
Gene DaCosta has relocated back to the firm’s Cayman office from Hong Kong, where he was seconded to provide Cayman Islands
- 06/10/2010
Emeralt Investments has launched its new Opal Fund in its range of Eastern Europe hedge funds.
Opal will take liquid long and short positions in Russian/CIS equities. The fund’s investment process is built on fundamental bottom-up stock picking in combination with a business oriented macro analysis.
The objective of Opal is to provide its investors with strong positive performance which is uncorrelated to equity markets. Risk-adjusted returns are expected to be superior to that of a traditional equity portfolio.
The new fund will be managed by Johan Ekström, who has been recruited from Alfa Bank, one of Russia’s largest privately
- 06/10/2010
Maples Fund Services, a fund services provider, has launched its restructured fund administration business, formerly operating as Maples Finance.
The announcement is part of the global restructuring of the Maples Finance business, which now operates as MaplesFS, with various business divisions including Maples Fund Services.
“With our new brand, Maples Fund Services is now positioned as a fully outsourced solutions provider,” says Scott Somerville, chief executive of MaplesFS. “Over the past 18 months, we have committed a significant amount of resources to Maples Fund Services, building out a best of breed operational infrastructure and technology platform, re-organising our executive team,
- 06/10/2010
- 06/10/2010
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