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London, 12-13 June, 2012 – A seminar providing an overview of the historical background and the recent trends of sovereign risks, as well as an analysis of sovereign risk in bond portfolios, and discussing both the assessment and the monitoring of sovereign risk in a global equity portfolio.
Drawing on the expertise developed at the EDHEC-Risk Institute, the first part of the seminar will provide participants with an overview of the historical background and the recent trends of sovereign risks, as well as an analysis of sovereign risk in bond portfolios. The second part of the seminar discusses both the
Citi has expanded its global capabilities for administration and custody services to assist fund managers in establishing a more efficient, informed and effective investment process.
As liquidity terms and conditions have changed and evolved in the fund marketplace, with investor level gates becoming more prominent in the hedge fund community, Citi has kept pace with the evolving needs of its clients. Citi has implemented an enhanced liquidity module which incorporates investor level gates. With these new capabilities, clients can more accurately predict the underlying liquidity of their respective hedge fund investments. This gives the clients the tools they need when
The Securities and Exchange Commission has charged Jorge Gomez, an investment adviser formerly located in Dallas, Texas and Mexico, with perpetrating a fraudulent scheme to misappropriate millions from an investment advisory client (“Client”). The SEC also has agreed to settle related charges against Roberto Aleph Espinosa, a former resident of Miami, Florida, who, in conjunction with Gomez, provided investment advisory and brokerage services to the Client.
In the complaint filed in the US District Court for the Southern District of Florida, the SEC alleges that in 2007, Gomez, age 42, the president of Atlantic International Capital LLC (“Atlantic”), lured the Client,
Morningstar has released highlights of the company’s fourth-annual national survey examining the perception and usage of alternative investments among institutions and financial advisors.
"Institutional investors and financial advisors have significantly expanded their alternative holdings since the 2008 crash, and continue to view alternative investments as an important part of their portfolios," says Scott Burns, director of ETF, closed-end fund, and alternative research for Morningstar. "Growth has begun to slow, though, as investors have ramped up their allocations, and excitement may be cooling with the lacklustre performance of alternatives relative to the overall market over the last few years."
Morningstar and
Palmer Square Capital Management has introduced the Palmer Square SSI Alternative Income Fund, the firm’s second open-ended mutual fund in the alternative investment space.
In partnership with Montage Investments, Palmer Square and SSI have raised approximately USD160 million of investment capital to launch the fund.
The fund seeks absolute returns and a steady income stream by investing long in convertible securities and by establishing short positions in the common stock of the issuers of those convertible securities. The fund offers investor and institutional share classes, trading under the symbols PSCAX and PSCIX, respectively. It is sub-advised by SSI Investment Management.
Paladyne Systems has extended its global capabilities in Paladyne Portfolio Master, its combined order management and portfolio management solution, to help clients meet the Hong Kong Securities and Futures Commission’s (SFC) requirements for fund managers to disclose net short positions next month.
The SFC Rules come into effect on 18 June and the first reporting day and reporting deadline will be June 22nd and June 26th, respectively. All fund managers holding short positions in Hong Kong stocks will be required to comply. Paladyne provides a centralised solution within Paladyne Portfolio Master to streamline these reporting requirements by automatically importing the
Jonathon Crook (pictured), partner in the Financial Services Dispute Resolution group at international law firm Eversheds, on the FSA’s decision to hand out it’s largest ever fine to an individual – GBP3 million – to Alberto Micalizzi…
This is the largest fine imposed by the FSA on an individual to date for breaching its rules where market abuse is not involved. A cursory analysis of the decision notice explains why. The FSA seems to have reached the view that Mr Micalizzi orchestrated a fraud in order to conceal from his investors the massive losses that were being incurred by his
By Olivier Sciales of Chevalier & Sciales – The Alternative Investment Management Association has published an analysis of the divergences it has identified between the European Commission’s draft Level 2 regulation implementing the Alternative Investment Fund Managers Directive and the technical advice provided to the Commission last November by the European Securities and Markets Authority.
Aima, a global organisation representing members of the hedge fund industry including managers and service providers, highlights a number of “unintended consequences” of the changes proposed by the Commission, which it says cannot be attributed to the restatement of technical recommendations into legal language to
The Financial Services Authority (FSA) has published a decision notice indicating that it has decided to fine Alberto Micalizzi GBP3 million and ban him from performing any role in regulated financial services for not being fit and proper. This is the FSA’s largest fine for an individual in a non market abuse case.
At the relevant time, Micalizzi was the chief executive officer and a director of Dynamic Decisions Capital Management Ltd (DDCM), a hedge fund management company based in London.
The FSA has also decided to cancel the permission of DDCM to conduct regulated business. The FSA believes DDCM
The Securities and Exchange Commission has charged a Miami-based hedge fund adviser for deceiving investors about whether its executives had personally invested in a Latin America-focused hedge fund.
The SEC’s investigation found that Quantek Asset Management LLC made various misrepresentations about fund managers having “skin in the game” along with investors in the USD1 billion Quantek Opportunity Fund. In fact, Quantek’s executives never invested their own money in the fund. The SEC’s investigation also found that Quantek misled investors about the investment process of the funds it managed as well as certain related-party transactions involving its lead executive Javier Guerra
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