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Newedge has made three senior appointments in the Alternative Investment Solutions (AIS) division of its Prime Clearing Services (PCS) team.
James Shekerdemian has been named Head of Origination and Structuring for the AIS division in the Europe, Middle East and Africa (EMEA) region, reporting directly to Jonathan Gane, Global Head of Origination & Structuring – AIS. In this role, Shekerdemian will be responsible for driving further growth in the AIS business and overseeing the continued build-out of Newedge’s equity franchise in the region. He brings to Newedge more than 20 years of experience in the financial services industry, the last
Agecroft Partners, the hedge fund consulting and third party marketing firm, was recognized by Hedgeweek as the winner of the “2012 Best Third Party Marketing Firm in North America” at their global Hedge Fund Awards ceremony held in London on 2 March.
Winners were selected based on a survey Hedgeweek performed of their reader base. This marked the 5th year in a row that Agecroft Partners has received the third party marketer of the year award by a major industry organisation. In addition, Agecroft Partners recently received the most votes among North American third party marketers in a survey of
Merchant Capital, the independent corporate finance and investment management firm, has migrated its UCITS umbrella to Point Nine’s Circle.2 platform of live middle and back office services.
The firm chose Point Nine’s Circle platform for the launch of its UCITS umbrella last year. A new release, Circle.2, provides live and cloud-enabled trade reconciliation and settlements reporting for the first time, allowing fund managers to view key information such as counterparty exposures and settlement reports in real-time. Point Nine has also supported Merchant Capital’s recent move to a new fund administrator.
Chris Day, Director of Merchant Capital, says: “Having
The Gargoyle Group has launched a new fund it believes to be the industry’s first market neutral fund to hedge with a continually-monitored index options overlay.
The Fund attempts to produce superior long-term investment returns with low correlation to the US stock market. The Fund uses many of the components of the proprietary methodology employed successfully by its flagship fund for the last 12 years.
The underlying equity portfolio is selected from among the top 2000 capitalised US-listed companies. The options overlay portfolio typically sells near-term call options on indexes that are highly correlated to the underlying stock portfolio. The
ITG, a leading agency research broker and financial technology firm, has released the new ITG Dynamic Open Algorithm, designed to allow traders to tap the liquidity available in the NYSE and NASDAQ opening auctions while minimising price impact from over-participation.
ITG Dynamic Open is the first algorithm specifically tailored to the processes of each exchange, intelligently participating in auctions by employing data from the real-time imbalance feeds.
“The uncertainties and complexity of the opening auctions have made some traders reluctant to use the open,” says Jeff Bacidore (pictured), ITG Managing Director and Head of Algorithmic Trading. “ITG Dynamic Open
Qatar Exchange (QE) has launched a number of new equity indices to complement the existing QE Index. The new indices will be live from 1 April 2012.
A total return version of the QE index will be disseminated in real-time; measuring price performance and income from dividends, thus representing the total return earned in a portfolio tracking the underlying price index. QE will also introduce All Share and sector indices, a series that provides investors with an overall market benchmark and enhanced tools to evaluate sector performance in real-time.
In line with the industry sector indices, statistical and trading
The Securities and Exchange Commission charged a New York-based investment adviser with defrauding investors in five offshore funds and using some of their money to buy himself a multi-million dollar beach resort property on Long Island.
The SEC alleges that Brian Raymond Callahan of Old Westbury, NY, raised more than USD74 million from at least two dozen investors since 2005, promising them their money would be invested in liquid assets. Instead, Callahan diverted investor money to his brother-in-law’s beach resort project that was facing foreclosure, and in return received unsecured, illiquid promissory notes. Callahan also used investor funds to pay
Hedge funds redeemed an estimated USD15.2 billion (0.9% of assets) in January 2012 – the highest outflow since July 2009 – while underperforming the S&P 500 by 110 basis points for the month, according to research by BarclayHedge and TrimTabs Investment Research.
Industry assets rose to USD1.70 trillion in January from USD1.68 trillion in December 2011.
“Hedge funds managed a 3.1% return in January after posting losses in seven out of the last eight months of 2011,” says Sol Waksman (pictured), founder and President of BarclayHedge. The benchmark S&P 500 Index returned 4.2% in January after outperforming the hedge fund industry
U.S. Bancorp Fund Services, LLC (USBFS) has made an equity investment invested in TS Capital, LLC (TSC) allowing it to leverage TSC’s active distribution services. TSC is a third party marketing organisation specialising in strategic consulting, product origination and distribution services in the advisor channel.
“The combination of TSC’s high quality distribution services with our full service administration, accounting, custody and transfer agent, and regulatory distribution services provides an extensive and compelling solution to our investment managers looking for comprehensive fund services and asset gathering,” says Joe Redwine (pictured), president of USBFS.
Founded in 2009, TS Capital specialises in strategic
Intertrust Group Holding SA has reached agreement with Walkers Global on the acquisition of its subsidiary Walkers Management Services (WMS), a provider of corporate, company secretarial and fiduciary services.
WMS provides corporate, fiduciary and company secretarial services from the world’s leading financial centres – the Cayman Islands, Delaware (USA), Dubai, Dublin (Ireland), Hong Kong and the British Virgin Islands. Headquartered in George Town, Cayman Islands, WMS currently generates annual sales in excess of US$ 50 million. WMS management is committed to stay with Intertrust Group post integration.
Intertrust is a recognised global quality leader in the trust and
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