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EFAMA has welcomed the publication by the European Securities and Markets Authority (ESMA) of its Consultation Paper setting out future guidelines on UCITS Exchange-Traded Funds (UCITS ETFs) and other UCITS issues.
Broadly speaking, EFAMA supports ESMA’s proposals in favour of increased investor protection through more transparency and additional requirements for securities lending, collateral management and the use of strategy indices. EFAMA also welcomes ESMA’s decision to broaden the scope of its proposed guidelines to all UCITS engaged in the same type of activity, instead of targeting exclusively UCITS ETFs.
Peter De Proft (pictured), Director General of EFAMA, says: “EFAMA
Donald Motschwiller (pictured) is to join Direct Access Partners as managing partner. He will also serve as the CEO of the asset management affiliate of Direct Access Group, LLC, the parent company of Direct Access Partners, LLC.
Ben Chinea, Founder and CEO of Direct Access Partners, says: “We are ecstatic to welcome Donald to lead the asset management business and provide leadership and managerial expertise throughout the entire organisation. He possesses deep securities experience and relationships, proven leadership skills, and a successful track record in executing growth and diversification strategies. His experience, industry reputation and intimate understanding of trading technology
BNP Paribas, following a competitive tender, has implemented a mandate to provide fund administration to Equinox Fund Management (Equinox), a US alternative asset manager with more than USD1.5 billion in assets under management.
BNP Paribas administers a platform of independent fund vehicles accessed by mutual funds sponsored by Equinox. BNP Paribas’ solution captures and values trades in real-time, producing a Net Asset Valuation (NAV) on the same day. Equinox-sponsored mutual funds then use this NAV as part of the process to strike their own NAVs on a daily basis. This daily-NAV solution provides the necessary transparency required to value alternative
European crisis could offer unprecedented opportunities for distressed debt investors, says Galia Velimukhametova (pictured), manager of the GLG European Distressed Fund…
Times of economic austerity provide excellent opportunities to invest in distressed assets. Financial asset prices are usually depressed, but risk aversion means mainstream investors are wary of getting involved. In stressed or distressed scenarios, the valuation of a company’s debt securities can fall disproportionately, as funds whose mandates prevent them from holding bonds once they are in default become forced sellers. Distressed funds can derive substantial profit from purchasing securities at depressed prices which do not fully reflect the
GlobeOp Financial Services (LSE:GO.) has added a fourth office to its Mumbai network, increasing capacity to meet growing client service demand and to enhance business continuity planning.
A new 46,700 sq. ft. (4,339 sq. meter) hedge fund administration and data centre facility is now operational in Airoli, part of Navi Mumbai on the eastern side of the city. It is located in the same Airoli business complex as GlobeOp’s third Mumbai office, opened in 2009. The new 650-seat facility increases GlobeOp’s total Mumbai office space from 100,750 sq. ft. (9359 sq. meters) to 147,450 sq. ft. (13,697 sq. meters).
The Singapore Exchange (SGX) has obtained approval for US investors to directly trade its FTSE China A50 and MSCI Asia APEX 50 futures contracts from within the United States.
On 27 January 2012, the Commodity Futures Trading Commission (CFTC) certified that these contracts, which are based on the FTSE China A50 and MSCI Asia APEX 50 equity indices, may be offered and sold to individuals in the US.
The SGX-listed FTSE China A50 futures contract is the only offshore contract providing international investors with easy exposure to China’s domestic A-share market. A total 3.1 million FTSE China A50 futures contracts
Laven Partners, the global consultancy to the alternative industry, and GFIA’s funds research practice have joined up their resources and processes in Asia to provide a fully comprehensive operational due diligence and compliance service based in Singapore. This union is the result of increased demand from Asia for global-standard consultancy services, and from the developed markets for a greater expertise in Asian funds. 


Laven Partners is a global consulting firm focused on the alternative investment industry, specialising in regulatory compliance, fund formations and operational due diligence. Laven Partners is also one of the world’s largest alternative investment industry dedicated operational
Gottex Fund Management Holdings Limited (Gottex) has reported strong fund performance during the final three months of 2011. The company’s flagship market neutral strategies are two to three per cent ahead of their benchmarks, while Gottex’s alternative credit strategy and Constellar multistrategies returned respectively +3.8% and +3.4% for the year.
Total fee earning assets for the group stood at USD 7.34 billion as as 31 December 2011, a decrease of 10% compared to USD 8.16 billion at 30 September 2011, as a result of net client outflows and impact from foreign exchange and technical factors.
Gottex expects its 2011 Annual
As highlighted by the David Einhorn/Greenlight Capital Inc FSA Decision Notices published recently wall-crossings are again in the regulatory spotlight. It might prudently be assumed that the regulator’s focus on this aspect of market activity will only continue to intensify, says David Berman (pictured), partner, Macfarlanes…
David Einhorn was the President and sole portfolio manager of Greenlight Capital Inc (Greenlight), a US-based hedge fund. Several of Greenlight’s funds held stakes in Punch.
On 15 June 2009, Punch announced a transaction to issue new equity in order to raise GBP375m (the “Transaction”). Prior to this announcement, Punch’s broker, X, contacted and
Offshore law firm, Mourant Ozannes, has opened an office in Hong Kong to provide clients and intermediaries with access to the firm’s offshore legal services in an Asian time zone.
The office opening has been timed to coincide with celebrations for Chinese New Year, giving Mourant Ozannes’ Asian office an auspicious start date in 2012 – the Year of the Dragon.
The office has opened with three partners and will focus initially on investment funds, corporate and finance work for which the firm has an international reputation.
Paul Christopher (pictured), who specialises in corporate, investment funds and finance work, has
