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Bernheim, Dreyfus & Co has appointed Bank of America Merrill Lynch (BoAML) as an additional prime broker for its Diva Synergy Fund and Diva Synergy UCITS Fund.
French hedge fund manager Bernheim, Dreyfus & Co. has appointed BofA Merrill Lynch as an additional prime broker for the Diva Synergy Fund and the Diva Synergy UCITS Fund.
The allocation of assets of the funds between BofA Merrill Lynch and, the current prime brokers and custodian of the funds, will be determined by the nature and type of transaction and at the discretion of Bernheim, Dreyfus & Co.
The functions which BofA Merrill Lynch performs under the agreement are the provision of financing and settlement services to the funds, regarding the purchase and sale of securities entered into by
Jersey Finance has appointed Heather Bestwick (pictured) to the new role of Deputy Chief Executive Officer. She will maintain the role of Technical Director, leading the Jersey Finance technical programme, but will have additional responsibility for several operational functions including human resources, finance and IT.
An English solicitor and former Managing Partner of the Jersey office of international law firm Walkers, Bestwick joined Jersey Finance in 2010.
Geoff Cook, Jersey Finance Chief Executive Officer, says: "Heather’s appointment to the new role of Deputy CEO reflects the growing remit of Jersey Finance and in particular, our strategy to support the industry
BNY Mellon’s Alternative Investment Services (AIS) division received top industry recognition in the 2012 Hedgeweek Awards last week in London, winning the Best Asian Hedge Fund Administrator Award.
The awards were determined by the votes of Hedgeweek’s 41,000 subscribers, who include individual and institutional investors as well as fund managers and other industry professionals at firms including fund administrators, prime brokers, custodians, law firms, consultants and advisers. In announcing the winners, Hedgeweek said the 2012 awards "honour the resilience of the industry as it copes with a succession of financial and economic upheavals that began nearly five years ago, and
Judge Richard Stearns of the US District Court for the District of Massachusetts entered final judgments by default against Locust Offshore Management, LLC, and its CEO, Andrey C Hicks, defendants in a civil injunctive action filed by the Commission in October 2011.
The Commission’s Complaint charged that Hicks, 28, of Boston, Massachusetts, and Locust Offshore Management engaged in a scheme to mislead prospective investors about their supposed quantitative hedge fund and divert over USD2.7 million of investor money to Hicks’ personal bank accounts.
The Judgments jointly and severally order Hicks and Locust Offshore Management to pay disgorgement of USD2,481,004 and
The Technical Committee of the International Organization of Securities Commissions (IOSCO) has published an updated list of categories of data for the global collection of hedge fund information, which it believes will assist in assessing possible systemic risks arising from the sector.
The data categories were first published in February 2010 with the first IOSCO hedge fund survey in September 2011.
The Task Force on Unregulated Financial Entities (Task Force) has agreed to conduct a second hedge fund survey in September 2012, with responses expected by the end of the year. In support of this the Task Force has
The Cayman Islands Government has extended the deadline for the registration of ‘master funds’ by 60 days to 21 May 2012.
This extension had been expected as a result of the previous advisory issued by the Government stating that the Government and the Cayman Islands Monetary Authority (CIMA) both disagreed with an interpretation held by some practitioners that a ‘master fund’ with only one regulated feeder fund is not required to be registered with CIMA. In that advisory, the Government announced that it would be issuing further legislation to clarify the point. As at the date of this eAlert, the Government has
Hong Kong-based Athos Capital Ltd, who went into partnership with Ascalon Capital Managers, a unit of Australia’s Westpac Banking Corp, at the end of 2011, aim to launch a
Leading Asian FoHF firm SAIL Advisors has underscored its commitment to expanding in the US market by reinforcing its New York team with the addition of industry veteran Jason Filib
Met Capital Management is preparing to launch the MET Pacific Fund, an Asia Pacific long/short equity fund, in Q2 this year.
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