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Multifonds has launched Global Investor, which allows fund administrators to consolidate their investor servicing and transfer agency operations onto a single platform across all investment types.
Multifonds has developed its alternatives capability and extended the former Multifonds Transfer Agent platform to fully support alternatives, rebranding it Multifonds Global Investor in the process.
Five administrator clients are already committed to using Multifonds Global Investor, with three out of the five, including European Fund Administration (EFA), already using the platform to operate alternative and long-only funds together on the single investor servicing and transfer agency platform.
The platform already supports more
Monthly trading volume on MarketAxess, the electronic trading platform for US and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, totalled USD52.2bn in June.
This figure consists of USD32.7bn in US high-grade volume, USD2.5bn in eurobond volume, and USD17.0bn in other volume.
The European Commission has presented a financial services legislative package designed to raise standards and remove loopholes for the benefit of consumers.
Specifically, the package proposes new, consumer-friendly standards for information about investments, raises standards for advice, and tightens certain rules on investment funds to ensure their safety.
The Commission believes that the financial crisis has become a crisis of consumer confidence. Lack of transparency, low awareness of risks, and poor handling of conflicts of interest have meant that consumers across the EU have been repeatedly sold investment and insurance products that were not right for them. Consumers have had
Man Group has appointed Judy Saunders as a senior adviser on a consultancy basis to its UK institutional team.
Saunders takes on the role after seven years as chief investment officer at the West Midlands Pension Fund, where she was responsible for developing the GBP8.7bn fund’s investment strategy.
Paul Dackombe, head of UK institutional sales at Man, says: “Judy’s experience at the West Midlands Pension Fund will prove invaluable in tailoring and improving our ability to meet client needs in the UK. Her appointment as a senior advisor is testament to the strength of our commitment to the UK
The CBOE Futures Exchange says June 2012 was the most-active trading month in CFE history and the second consecutive month of record trading volume at the exchange.
The most-active trading month in CFE history was driven by record volume in futures on the CBOE Volatility Index (the VIX Index), with June 2012 trading in VIX futures up 85 per cent over a year-ago.
During the record-breaking month, new all-time highs were established in total monthly volume, monthly average daily volume (ADV), single-day volume and weekly volume – both exchange-wide and for VIX futures. In addition, the second quarter of 2012
Daiwa Securities Group has signed a sale and purchase agreement to transfer its global asset services division to Sumitomo Mitsui Trust Bank.
The global asset services division comprises Daiwa’s fund administration/ Ucits management company, custodian, trustee and authorised corporate director entities domiciled in Ireland, UK and Cayman servicing clients across the globe, including the activities in Hong Kong.
The transaction is subject to the customary regulatory approvals.
The key tasks for the future are developing existing and additional servicing capacities and using SMTB’s global business network. The other major focus will involve strategic investment in technology solutions.
The transaction allows
Equity market neutral, macro and volatility strategies are likely to be the most popular allocations in the next six months, according to a survey by Alix Capital, the Geneva-based provider of the Ucits Alternatives Index family of indices.
The Ucits Alternative Index Trends Survey shows that at least 50 per cent of respondents for these three strategies intend to increase their allocation, with volatility the highest at 55 per cent.
Respondents are most likely to decrease their allocation to fixed income and long/short equity, with 24 per cent and 18 per cent of respondents respectively indicating allocation to these strategies
In June 2012 the international derivatives markets of Eurex Group recorded an average daily volume of 11.0 million contracts, down from 11.4 million in June 2011.
Of those, 8.5 million were Eurex Exchange contracts (June 2011: 8.6 million), and 2.5 million contracts (June 2011: 2.8 million) were traded at the US-based International Securities Exchange (ISE).
In total, 178.9 million contracts were traded at Eurex Exchange and 52.2 million at ISE.
At Eurex Exchange, the equity index derivatives segment grew by five per cent and totalled 86.6 million contracts (June 2011: 82.3 million) – the best monthly volume in 2012. The
Bob Diamond has resigned as Chief Executive and a Director of Barclays with immediate effect. Marcus Agius will become full-time Chairman and will lead the search for a new Chief Executive.
Agius will chair the Barclays Executive Committee pending the appointment of a new Chief Executive and he will be supported in discharging these responsibilities by Sir Michael Rake, Deputy Chairman.
The search for a new Chief Executive will commence immediately and will consider both internal and external candidates. The businesses will continue to be managed by the existing leadership teams.
Diamond says: “I joined Barclays 16 years ago because
ABS Investment Management, a global equity long/short fund of hedge funds manager with over USD3.75bn under management, has launched its first commingled emerging markets equity long/short fund of hedge fund product.
Founding principal Alain De Coster says: “The fund will be a long biased emerging markets FoHF that is expected to have 50 to 75 per cent net exposure to emerging market equities. The product will benefit from the firm’s long term global focus.”
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