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HedgeOp Compliance, a provider of specialised compliance consulting services and software for investment advisers in the US, is strengthening its New York office with the appointment of Derek McGibney who is relocating from IMS’ UK office.
McGibney is a leading consultant in UK and European regulatory architecture and the management of compliance risk and joins as a senior project director. He worked in IMS’ London office for more than eight years and has been involved in consulting on all aspects of governance, compliance and operational risk for top tier global financial services companies for more than 15 years.
McGibney’s addition
Exchange traded funds provider Global X Funds has launched the Global X Top Guru Holdings Index ETF, which allows investors to tap into the combined expertise of the largest hedge fund managers.
Hedge funds spend tens to hundreds of millions on talent and research to uncover the most attractive investment opportunities, and in exchange typically charge a 2% management fee and a 20% performance fee. These types of asset management firms are often restricted to a limited number of investors and typically require a large minimum investment that makes them difficult to access. However, on a quarterly basis, all hedge
Alternative asset manager Commonwealth Capital Management has launched its systematic Commonwealth Liquid Alpha Index multi-manager trading strategy on dbSelect, Deutsche Bank’s platform for accessing liquid hedge fund strategies.
The addition of Commonwealth Liquid Alpha Index to dbSelect allows investors to gain exposure to a dynamically managed portfolio of Commodity Trading Advisors (CTAs) and other managers in a transparent and efficient manner. The index is based on models developed by proprietary artificial intelligence methods. Managed investment platforms allow hedge fund managers to offer multiple ways of accessing investment strategies, whilst reducing counterparty risk and increasing liquidity for investors.
Commonwealth Capital
Eze Castle Integration, a provider of strategic IT solutions and private cloud services to hedge funds, has announced the results of its independent “Cloud Adoption Trends in the Investment Management Industry” survey, which was conducted in partnership with IDG Research.
Featuring responses from 125 senior-level executives, the survey found that more than eight out of 10 hedge funds and investment firms use or are deploying the cloud for IT infrastructure or application services.
The strong adoption rate of cloud services indicate increased emphasis on the benefits the technology is bringing to the financial industry. The survey found that the
Schulte Roth & Zabel has named Nicholas Fagge and Kerrie A Walsh as partners in the firm’s London office, effective 1 June 2012.
Fagge and Walsh, who both joined the London office when it opened ten years ago, are part of a team of senior lawyers that gives SRZ one of the largest and most experienced groups of hedge fund lawyers in London.
Fagge advises investment management clients on the structuring of UK management companies, covering all relevant partnership and tax issues, and more widely on UK and international tax issues relating to the taxation of private investment funds,
The Hedge Fund Association, an international organisation that represents hedge funds, service providers and investors, believes liberalised advertising and solicitations rules contained in the new Jumpstart Our Business Startups (JOBS) Act would help hedge funds raise assets and “encourage emerging managers to continue to enter the industry.”
The HFA also asked the SEC for clearer rules to verify that potential investors are indeed accredited as a way to “add further stability to the industry.”
The HFA’s position was outlined in a comment letter submitted to the Securities and Exchange Commission on 6 June, 2012. The SEC is soliciting comments before
White Oak Global Advisors, LLC has listed the White Oak Opportunity Fund as a transparent fund on the AlphaMetrix Global Marketplace (AGM).
As a transparent fund, the White Oak Opportunity Fund will now be visible to the entire AGM network. White Oak will retain its existing fund structure and service providers, while also offering current and future investors in-depth risk monitoring, state-of-the-art reporting, customised transparency and a thorough background investigation via the AGM platform.
"We are pleased to have our long/short event credit strategy as part of the AlphaMetrix Global Marketplace," says Patrick Conner, Co-Portfolio Manager at White Oak Global
The Dow Jones Credit Suisse Core Hedge Fund Index closed down 1.50% in May as most of the index component strategies reported negative results for May.
The Dow Jones Credit Suisse Core Hedge Fund Index provides daily published index values which seek to enable investors to track the impact of market events on the hedge fund industry.
Long/Short Equity was the worst performing strategy down −5.08%, while Managed Futures was the best performer – and the the only component strategy in positive territory – in May at +3.52%.
Deutsche Bank’s Trust & Securities Services (TSS) unit has received Qualified Matching Service (QMS) designation from the Internal Revenue Service (IRS) for its dbRemarket platform.
The IRS recently confirmed in a private letter ruling that dbRemarket meets the requirements for a qualified matching service (QMS) under US Treasury regulation § 1.7704-1(g).
dbRemarket, which provides investors in private equity and hedge funds with a transparent way of effecting the purchase or sale of partnership interests in the secondary market, was launched in June 2011. Partnership interests that transfer via dbRemarket will qualify for the QMS safe harbour, which increases the percentage
Global markets continued downward in May, posting deeper declines than they did in April, according to Howard Silverblatt of S&P Indices…
The main concern was Greece, where preliminary elections left no single party able to form a coalition government. Those holding the most power called for a change in agreed-upon austerity programs. It will be necessary for Greece and the EU to get back to the table and renegotiate the terms. However, in order to do that, Greece needs a central government, which may be formed after the next election on 17 June. Until then, there is great uncertainty about the
