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Hedge funders managing north of USD5billion in assets face a rapidly encroaching 15 June 2012 deadline to file Form PF.
The filing is to be based on the first quarter of fiscal year 2012, with large private fund advisers managing between USD1.5billion and USD5billion facing a less onerous deadline of 15 December 2012. Those managers running less than USD150million in assets will be required to file annually as opposed to quarterly.
Form PF is a detailed, prescriptive document, which, after all, is meant to help US regulators ascertain whether hedge funds pose systemic risk.
GlobeOp recognised early on that Form
GlobeOp Financial Services is launching an independent, asset-weighted hedge fund performance index on 15 May, 2012. The latest in a series of monthly GlobeOp hedge fund indices, it is transparent, consistent in underlying funds and data processing, and free from selection and survivorship bias.
“The GlobeOp Hedge Fund Performance Index offers a timely and true reflection of the aggregated return on capital invested in funds on our administration platform,” says Hans Hufschmid (pictured), chief executive officer, GlobeOp Financial Services. “The Index does not overstate exposure to, or the contribution of, any single strategy to aggregated hedge fund performance. Its correlation
The Honourable Jed S Rakoff, United States District Judge, United States District Court for the Southern District of New York, has entered a Final Judgment on consent as to James Fleishman in the SEC’s insider trading case, entitled SEC v Mark Anthony Longoria, et al, 11-CV-0753 (SDNY) (JSR).
This case alleges insider trading by ten individuals and one investment adviser entity, all of whom are consultants, employees, or clients of the so-called “expert network” firm, Primary Global Research LLC (PGR).
The SEC filed its Complaint on 3 February, 2011, charging two PGR employees and four consultants with insider trading for illegally
On the 23 April 2012, Germany and Luxembourg signed a new Double Tax Treaty ("the Treaty") which is to replace the previous treaty dating back to 1958. And according to Dechert, the new Treaty may impact on many US, UK and other non-German investors as Luxembourg is often used as a tax efficient jurisdiction for German inbound investments (particularly used by funds, private equity and real estate investors).
The main changes include:
Explicit Treaty access for funds – Luxembourg investment funds in the legal form of a SICAV, SIVAF or SICAR are to be able to claim Treaty benefits in
AlphaHedge Capital Partners, LLC (AlphaHedge) has launched a separately managed account (SMA) platform to provide an array of long/short equity hedge fund strategies to high-end investment advisors, consultants, family offices, broker-dealers and institutions.
According to Gregory S Horn, chairman and CEO, a growing number of investment advisors and their clients are frustrated by the high volatility and low returns from equities over the past decade and are interested in less volatile equity exposure. Long/short equity strategies offer advisors an opportunity to potentially lower a client’s equity risk profile without reducing the underlying allocation.
Horn explained that SMAs available via the
The Hennessee Hedge Fund Index declined 0.38% in April (+4.02% YTD), while the S&P 500 fell 0.75% (+11.16% YTD), the Dow Jones Industrial Average increased 0.01% (+8.16% YTD), and the NASDAQ Composite Index declined 1.46% (+16.94%).
Bonds rallied, as the Barclays Aggregate Bond Index increased 1.11% (+1.42% YTD) and the Barclays High Yield Credit Bond Index advanced 1.05% (+6.44%).
“Hedge funds declined in April, along with equity markets, due to renewed concerns that the European sovereign-debt crisis would worsen and global economic growth would slow,”says Charles Gradante (pictured), Managing Principal of Hennessee Group. “After a strong rally in the first quarter, hedge fund managers were positioned cautiously
A recent decision of the Grand Court of the Cayman Islands (the Court) in the case of FIA Leveraged Fund has laid down, for the first time, the principles applicable to an in specie (or in kind) distribution of fund assets to investors.
The documents which make up the contractual arrangements between a hedge fund and its investors commonly give management the power to satisfy a redemption request by distributing assets in kind rather than making a cash payment. This is the first time the Court has delivered a judgment regarding the manner in which that power is to be
Bill Miller, former head of European sales for hedge fund Winton Capital has joined Princeton-based CTA Drury Capital as head of global sales with responsibility to push further the Drury Capital brand in North America, Europe and the Far East.
Drury Capital (AUM 440 USD) was founded in 1997, by Bernard Drury and is a systematic longer term trend following manager CTA, with particular emphasis on commodity trading.
Miller is a well-known and highly respected figure on the CTA/managed futures stage and has a strong track record in this highly specialised sector.
Drury Capital has seen strong performance in
A withholding tax ruling expected from the European Court of Justice (ECJ) could lead to investment funds receiving a EUR4.2bn tax rebate, says Deloitte, the business advisory firm.
The case, which relates to the French withholding tax regime, will provide guidance for similar challenges being taken against several EU member states by portfolio investors such as investment funds, pension funds and charities.
France and several EU member states levy a withholding tax on dividend payments to some foreign investment funds while comparable domestic investors are exempt. EU and US-based institutional investors argue that the French rules amount to
Trident Fund Services has added the Geneva World Investor module to its existing implementation of Geneva. Trident Fund Services leverages the Geneva platform to provide integrated portfolio management and investor servicing across private equity, real estate and hedge fund clients.
"A robust, integrated technology platform underpins our ability to provide high-quality, tailored, cost-efficient fund administration services to our clients, whatever their specific requirements. We chose Geneva World Investor for its strong integration, automation, onshore and offshore investor level accounting, and the ability to deliver complex reporting to private equity and hedge fund clients," says Rick Gorter, Managing Director, Trident Fund
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