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The US Commodity Futures Trading Commission (CFTC) has issued an order settling charges that PassThrough Investments, LLC (PTI) (aka PassThrough Investments Group, LLC), and its principals, Stephen Brantley and Dwayne Bryant Dawson, all of Spring, Texas, fraudulently solicited and accepted at least USD2.6 million from at least 60 members of the public to participate in an off-exchange foreign currency (forex) pool that traded on a leveraged or margined basis.
The CFTC order requires PTI, Brantley, and Dawson to each pay a USD140,000 civil monetary penalty and to pay, jointly and severally, restitution of USD701,617. The order also imposes permanent trading and registration bans against the three
GAIM is to hold its flagship Monaco event at the Méridien Beach Plaza between 18 and 20 June, 2012.
The annual event brings together more than 800 hedge fund managers and active investors. Keynote speakers include Professor Niall Ferguson of Harvard University and Jamil Baz, the chief investment strategist at GLG Partners. There will also be an address from Peter Thiel, the founder of PayPal and Facebook’s first investor, on entrepreneurship.
According to Victoria Chatterton, conference director at ICBI, there will be more active end investors than ever before. Notable attendees will include the Colorado Fire & Police Pension
Billings Capital Management (BCM) has listed on online private investment marketplace AlphaMetrix Global Marketplace (AGM).
The investment company will retain its existing structure and service providers while offering current and future investors in-depth risk monitoring, state-of-the-art reporting, customised transparency and a thorough background investigation via AGM.
"Billings Capital Management is excited to be listed on the AlphaMetrix Global Marketplace," says Eric F Billings, CEO at Billings Capital. "At BCM, we strive to invest in best-of-breed businesses, and this includes our choice of service providers. We believe our decision to expand our relationship with AlphaMetrix and the AlphaMetrix Global Marketplace will
Judge Richard W Story of the US District Court for the Northern District of Georgia, has entered an emergency order freezing the assets of defendants Robert A Christy of Milton, Georgia, and his company Crabapple Capital Group LLC (Crabapple) of Alpharetta, Georgia.
The order also prohibits the defendants from destroying or altering books and records. The judge set a hearing date for 1 May, 2012.
The order stems from the filing of a federal court action on 19 April, 2012, against the defendants, charging them with foreign currency (forex) fraud, misappropriation, and making false statements to the National Futures Association (NFA). Both Christy
ALTIN AG, the Swiss alternative investment company, finished the year down 7.52%, but thanks to its active management style, performed better than the HFRX index, which fell by 8.87%.
2011 was a year of significant market and liquidity risk. In this challenging environment, the company made two important decisions. The first, as a result of the increased market volatility mainly due to the European sovereign debt issues, was to reduce the leverage employed by 9%, to finish the year at a 17% level. The second was to diversify the portfolio by introducing 11 new investment strategies, which contributed to reducing
China’s sovereign-wealth fund, CIC, is believed to be teaming up with the world’s largest money manager BlackRock Inc to a start a fun
Eze Castle has released a new white paper providing an in-depth examination of the challenges that Form Private Fund (Form PF) regulation poses to hedge funds. It also looks at the factors that customers should consider when making technology decisions for filing and data management.
The white paper, "Preparing for Form PF," is by Eze OMS product managers Phil Christianson and Roger Gregory, and technical communications group manager Erin McNamee.
"In a recent customer survey, nearly half of hedge fund respondents cited regulation as a top industry concern. Our paper offers a deep look at the most pressing and potentially
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished March up 0.05%, with five out of 10 strategies in positive territory.
In total, the industry saw estimated outflows of approximately $1.33 billion in March, bringing overall assets under management for the industry to approximately $1.75 trillion.
The Convertible Arbitrage and Equity Market Neutral sectors experienced the largest asset inflows on a percentage basis in March, with inflows of 1.18% and 0.76% from February 2012 levels, respectively.
Long/Short Equity was positive for the third month in a row. Three-month equity market correlation continued its downward descent,
The CBOE Futures Exchange (CFE) and DRW Trading Group have completed an agreement that will allow CFE to use DRW’s patent-pending methodology to create variance futures that match the quoting conventions and economic performance of over-the-counter (OTC) stock index variance swaps.
CFE plans to introduce a new futures contract based on the variance of the S&P 500 (SPX) later this year, subject to regulatory approval.
Variance swaps measure the difference between the expected and actual variance of an underlying instrument over a fixed time period. Currently, variance swaps on the S&P 500 index are estimated to trade USD10 million vega
Japan’s Pension Fund Association (PFA) has chosen MSCI’s RiskMetrics HedgePlatform as their hedge fund transparency provider.
PFA, which currently manages JPY10 trillion (USD 120 billion), was established under the Employees’ Pension Insurance Act in Japan. It provides pension benefits to those who seceded from employees’ pension funds and is also engaged in management of assets for serving pension benefits. RiskMetrics HedgePlatform will allow PFA to better analyse, monitor, and manage their hedge fund investments based on the position-level holdings of the underlying funds.
“With a strong commitment to our beneficiaries, we are continuously strengthening our level of risk management to secure
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