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Spectrum Asset Management has strengthened it institutional sales efforts with the appointment of Steven Solmonson who joined the firm in mid-January.
Mark Lieb, founder and CEO of Spectrum Asset Management, says: “Steven and I have known each other for more than 30 years, having worked together at Drexel Burnham Lambert where we launched DBL Preferred Advisory Management in 1982. Steven’s experience in the capital markets and, in particular, working with pensions, endowments and professional family offices globally, will make him a tremendous addition to Spectrum’s team.”
Solmonson joins Spectrum following his long-standing tenure as President of Park Place Capital Ltd,
Market Data & Analytics has launched “AlphaFlash”, its algorithmic news feed, in a data centre in Sao Paulo. The feed is available now in Brazil, marking AlphaFlash’s official expansion into South America.
“Brazil is considered the leader in algorithmic and high frequency trading in Latin America. As this growing market continues to develop, we see greater demand from local quant traders, hedge funds and market participants to consume machine-readable news quickly and efficiently. The new data centre allows customers to access AlphaFlash as fast as possible – right on the spot in Brazil, so they can swiftly execute their automated
By Robert Mellor (pictured) and Gary Burr, PwC – With the Christmas season only recently behind us, thoughts don’t easily turn to matters of taxation. However, changes to tax rules in various jurisdictions around the world, both proposed and already legislated for 2012 and beyond, are likely to demand hedge fund managers’ attention sooner rather than later.
A trend that began as far back as 2010, continued in 2011 and is likely to continue unabated in 2012 is the increased focus on tax reporting. With the potentially onerous reporting and ultimately, withholding, obligations to be imposed by the US’ Foreign
By James Williams – Every which way you look in Europe there seems to be a new piece of legislation lurking via the corridors of Brussels, with a specific aim of targeting hedge funds. To say it is disproportionate is an understatement. Nevertheless, London’s hedge fund community cannot change the reality of the situation: regulation is not going to go away. It’s a case of embracing it and understanding it, whilst at the same ensuring their business operations remain steadfastly competitive.
London has always been blessed with an entrepreneurial spirit. Like New York, its fund management centre is dynamic and
One of the potential consequences of the AIFM Directive is that fund managers, particularly those with a largely European investor base, may look to supplement existing offshore platforms with parallel onshore structures. But as Oliver Godwin (pictured), a partner based in Ogier’s London office, points out, the Cayman Islands remain the pre-eminent fund jurisdiction for London hedge fund managers.
“We are doing a lot of hedge and private equity work in Cayman as well as significant hedge fund work in the BVI. There’s a lot of European alternative funds work being done in Jersey and Guernsey as well so across
By James Williams – Given London’s mantle as Europe’s leading hedge fund centre, it perhaps comes as a surprise that last year’s best performing UK hedge fund wasn’t based there at all, but rather a city more famous for its sleepy spires and cloistered colleges: Oxford.
According to Bloomberg Markets’ latest 100 Top-Performing Large Hedge Funds report, OxFORD Asset Management’s OxAM Quant Fund, managed by Andre Stern, Steve Mobbs and Steven Kurlander generated an impressive 16.4 per cent in 2011, placing them 12th in the list. Of course, the vast majority of UK hedge funds are based in the capital,
By Peter Niven – Guernsey has an investment fund industry with a heritage that stretches back half a century. During the past two decades, the sector has seen a gradual yet sustained shift where the balance of business has moved from being largely retail, equity-traded/cash-based schemes to predominantly institutional, alternate and niche funds.
The period included significant growth, particularly of esoteric asset classes through the middle of the last decade. This experience means that Guernsey has built a wealth of expertise and first class infrastructure for the structuring, management, administration and custody of not just traditional funds but also alternatives,
The Commodity Futures Trading Commission (CFTC or Commission) has released findings of limited reviews of futures commission merchants (FCMs) to assess compliance with requirements to segregate customer funds pursuant to Section 4d of the Commodity Exchange Act (ACT).
The limited reviews also covered the FCMs’ obligation to set aside in secured accounts funds deposited by customers for trading on foreign boards of trade under Section 4(b) of the Act and Part 30 of the Commission’s regulations. As of the review date for each FCM, all of the FCMs were in compliance with the segregation or Part 30 secured amount requirements.
AlphaMetrix LLC, founder of the AlphaMetrix Global Marketplace (AGM), has acquired the hedge fund managed account assets of WR Group LLC.
The acquisition of WR’s managed account assets across multiple strategies and asset classes will serve to strengthen the depth and breadth of the services AlphaMetrix provides via the Marketplace.
"This is an important example of our ongoing efforts to expand upon AlphaMetrix’s already broad offerings to clients and increase the opportunities we provide investors, funds and service providers," says Aleks Kins (pictured), CEO of AlphaMetrix. "We look forward to an integration that is seamless for all clients."
In addition,
The decision by the FSA to fine David Einhorn and his firm, Greenlight Capital, GBP7.2 million demonstrates the FSA’s commitment to stamping out market abuse, says Gregory Brandma
