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In the wake of Walkers’ recent announcement regarding the sale of Walkers Management Services to Intertrust, Maples & Calder has made an approach to a small number of Walkers’ investment funds lawyers based in the Cayman Islands and British Virgin Islands – a move that Walkers says it was expecting.
The Alternative Investment Management Association (AIMA), the global hedge fund trade association, has expressed concern about the European Commission’s new draft text for the implementation of the Alternative Investment Fund Managers Directive (AIFMD).
The European Commission proposed the new text in response to advice received on implementation of AIFMD by the European Securities and Markets Authority (ESMA). It is seeking to implement AIFMD swiftly through the format of a “Regulation” which enters effect more quickly than a “Directive”, which is transposed into national law and offers member states more flexibility of implementation. The Commission has given EU member states and
GenSpring Family Offices breached its fiduciary duty and committed gross negligence when it failed to adequately diversify the USD57 million portfolio of an ultra high net worth individual and misrepresented that hedge funds it recommended would perform like bonds, according to an arbitration claim filed by the law firms of Vernon Healy and Dovin Malkin & Ficken.
The legal claim filed on behalf of a retired Florida entrepreneur seeks more than USD11 million, including rescission of more than USD6 million in hedge funds that are now illiquid that GenSpring represented would be "as safe as bonds with upside." GenSpring also
NYSE Liffe, the Europe-based derivatives business of NYSE Euronext (NYX), will add options on the shares of Ziggo to its highly successful range of equity option classes.
The launch of options follows the successful initial public offering of Dutch cable operator Ziggo which took place on March 21st. This IPO was the largest in Europe in almost a year. The Ziggo options will be introduced on the Amsterdam derivatives market of NYSE Liffe on 12 April 2012.
Ade Cordell (pictured), Executive Director of Equity Derivatives at NYSE Liffe, says: “We are pleased to announce the launch of Ziggo options which
Swiss banking group SYZ & Co this week announced the launch of OYSTER US Selection, a new sub-fund of its OYSTER Luxembourg UCITS SICAV.
The Irish Minister for Finance has approved, in principal, the development of legislation for a new corporate fund structure intended to meet US ‘check the box’ requirements and reduce
Although the overall number of countries with tax issues as a result of implementation of the UCITS IV Directive has decreased since 2010, there still remains a significant portion of EU Member Sta
The Cayman Islands and British Virgin Islands (BVI) offices of international law firm Maples and Calder (Maples) have recruited seven partners and three associates to join the firm’s growing investment funds practice.
Currently at offshore firm Walkers, partners Julian Ashworth, Heidi De Vries, Sheryl Dean, David Marshall, Philip Millward and Gwyneth Rees, and senior associates Philip Dickinson, Patrick Head and Lucy Nicklas will be joining Maples’ Cayman Islands office and partner Tim Clipstone will be joining the firm’s BVI office as soon as they are free to do so under their existing arrangements. These 10 key hires will reinforce Maples’
IFG Group has signed an agreement for the sale of its entire International Division (Segment) to AnaCap Financial Partners II LP.
The purchase price is GBP70 million (EUR84 million) which will be paid in full on the completion of the sale. The purchase price shall be subject to an adjustment upon finalisation of the completion accounts. The sale is subject to certain conditions including shareholder and regulatory consent. The EGM, at which an ordinary resolution approving the sale shall be voted upon by the shareholders, shall be held in advance of the AGM on 27th June 2012. A circular incorporating a
HFR and Morningstar have launched a strategic distribution partnership with Morningstar Direct Institutional Software.
HFR is a leading provider of indices, data and analysis for the hedge fund industry, and Morningstar, Inc is a leading provider of independent investment research. Subscribers to, including HFRX and HFRI Indices, hedge fund database and analysis of alternative industry trends for use within the Direct platform.
Morningstar Direct combines Morningstar’s global investment data and content with sophisticated research analytics and tools to interpret financial information for investment ideas and communicate it in clear, visual reports. More than 1,700 institutions subscribe to Morningstar Direct
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