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A Bill to amend the BVI Business Companies 2004 (the BC Act) has been introduced in the BVI’s House of Assembly. The Bill, and the BVI Business Companies Regulations 2012 (“Regulations”), have also been published in the official BVI Gazette.
The resulting BVI Business Companies (Amendment) Act 2012 (Amendment Act), along with the Regulations, are expected to come into force towards the end of this year.
The Amendment Act and Regulations are the result of the first comprehensive review of the BC Act since it came into operation seven years ago. While most of the reforms are relatively minor and
Miles Geldard, co-manager of the Jupiter Strategic Reserve Fund comments on the institutional fund’s outlook…

The strong rally in risk assets triggered by the ECB’s massive action to avert a liquidity (and solvency) crisis has run its course. However, when it comes to making progress towards a unified politico-economic solution to the eurozone’s fiscal fracture, Germany’s behaviour is instructive. Rather than throw a lifebelt to a drowning man it insists he takes swimming lessons. In contrast, the IMF, that arch advocate of austerity, has warned Europe that excessively punitive measures are counterproductive to economic growth.


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The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight has certified a Dow Jones Industrial Average Futures contract submitted by the Osaka Securities Exchange (OSE).
The contract satisfies the requirements of the Commodity Exchange Act and the Commission’s Regulations and may be offered or sold to persons in the US through OSE’s direct access terminals located in the US.
Jonathan Sorrell, currently Man’s Head of Strategy and Corporate Finance, is to replace Ken Hayes as Finance Director with immediate effect. Hayes, who joined Man in 2007, is leaving the company to pursue other professional and personal interests.
Jon Aisbitt (pictured), Chairman of Man, says: “I would like to thank Kevin on behalf of the Board for his contribution as Finance Director over the past five years and wish him every success for the future. Jonathan’s appointment follows a rigorous process to identify the best possible candidate. Since he joined the company, he has demonstrated the strong all round financial and
New hedge fund launches in Q1 2012 increased to a level not reached since 2007 as hedge fund capital rose to a record level of USD2.13 trillion, according to the latest Market Microstructure Industry Report, released today by HFR (Hedge Fund Research)
New fund launches totalled 304 in the first quarter, narrowly eclipsing the 298 launches in 1Q11 for the highest quarterly total since Q4 07. Hedge fund liquidations also increased during the first quarter, with 232 funds closing, the highest quarterly liquidation total since 240 funds closed in 1Q10. Fund of Hedge Funds (FOF) continued to experience a contraction
Poor management and settlement of insurance claims remains one of the biggest concerns for hedge fund managers, according to Baronsmead Partners’s Hedge Fund Insurance Benchmarking Trends 2012 Survey.
Some of the main problems identified by managers include delays in claims payment due to the structure of the policy. Managers also took issue with excessive exclusions and the outsourcing of claims handling to a third party/regional office.
Another key finding is 82% of hedge fund managers said they purchased Professional Indemnity (PI) insurance, compared to 2010 when only 64% of hedge fund managers took out the cover. The AIFM
The Dow Jones Credit Suisse Hedge Fund Index finished down 1.33% for the month of May.
Dedicated short bias was on of just four of the 10 sub strategies to end the month in positive territory at 9.03%, while Long-Short Equity (-4.53%), Emerging Markets (-3.79%) and Equity Market Neutral (-3.18%) were the worst performers. The other three sub strategies to record gains were: Managed futures (2.38%); Fixed Income Arbitrage (0.24%); and Global Macro (0.19%).
The following funds were dropped from the Dow Jones Credit Suisse Hedge Fund Index in May: Concordia Global Multi-Strategy Fund, Context Advantage, Para Fund, and Southport
Rajat Gupta a former Goldman Sachs board member has been convicted on insider trading charges by a court in New York.
Gupta, 63, who denied illegally leaking boardroom secrets to former hedge fund manager Raj Rajaratnam – co-founder of Galleon Group LLC, who is currently serving an 11-year prison sentence – will be sentenced on 18 October when he could be sent to jail for up to 20 years.
The jury acquitted Gupta, a former managing partner of McKinsey & Co, of two other charges of securities fraud.
Prosecutors said that Gupta abused his privileged status to supply insider tips
Deutsche Bank’s structured funds division, db-X funds, has marked ten years in the structuring business by reaching over EUR10 billion in assets under management.
“Innovation, transparency, cost efficiency – these are some of the attributes that we’ve built our success on over the last 10 years,” says Alex McKenna, head of db X-funds. “I look forward to another decade of continued growth and delivering quality, unique products to our expanding client base.”
By structuring strategies in fund format, db-X funds provides on-shore, regulated access to the latest thinking in enhanced beta and alpha investment. Many db-X funds are based on
As expected, New Democracy has ‘won’ the Greek election, becoming the biggest party in the new parliament. Now they must try to form a working coalition government, says Barry Norris (pictured), partner at European fund management boutique, Argonaut Capital Partners…


The only credible partner for New Democracy is PASOK, which previously indicated it would only join a government of national unity, including Syriza. With Syriza likely to believe it can strengthen its position further in opposition, forming a working coalition will not be straightforward.

Assuming New Democracy can form a government, negotiations will start with the EU on easing the
