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With concerns that China’s rapid economic expansion could slow down in 2012 and hit economies and commodity prices, European hedge fund managers are positi
CME Group and National Futures Association (NFA), in conjunction with the InterContinental Exchange (ICE), the Kansas City Board of Trade (KCBOT) and the Minneapolis Grain Exchange (MGEX), have formed a joint committee to review how self-regulatory organisations can strengthen current safeguards for customer segregated funds held at the firm level in light of the MF Global bankruptcy.
This coordinated effort by all of the futures industry self-regulatory organisations (SROs) will examine what changes can be made to rules or to the ways firms demonstrate compliance with those rules to prevent customer losses due to the insolvency of a futures commission
Carey Olsen has announced the appointment of two new partners in its Jersey office. Daniel O’Connor and Peter German (pictured) join the busy corporate, finance and investment funds group.
O’Connor joined Carey Olsen in 2008 and specialises in investment funds, private equity and financial services regulation. He has extensive transactional experience of a wide range of investment structures working for both global financial institutions and specialist fund managers. Dan is an active member of several industry consultation and steering groups which develop funds policy and regulation, including his technical work for the Jersey Funds Association.
German has been working at
SEI has expanded its proprietary Portfolio Monitor compliance system to help money managers enhance the depth and flexibility of portfolio compliance testing in the face of ongoing regulatory changes and increasing investors demands.
SEI has been utilising Portfolio Monitor to perform post-trade compliance testing for hedge fund managers since 2009, and recently transitioned its registered fund clients onto the expanded system from its predecessor program, AdvisorAlert.
The move demonstrates the company’s commitment to delivering world class tools and resources to help its clients thrive amid changing market conditions and investor expectations.
“This system puts managers in a better position to
The Securities and Exchange Commission (SEC) has charged two multi-billion dollar hedge fund advisory firms as well as seven fund managers and analysts involved in a USD78 million insider trading scheme based on nonpublic information about Dell’s quarterly earnings and other similar inside information about Nvidia Corporation.
The charges stem from the SEC’s ongoing investigation into the trading activities of hedge funds. The US Attorney for the Southern District of New York today announced criminal charges against the same seven individuals.
The SEC alleges that a network of closely associated hedge fund traders at Stamford, Connecticut-based Diamondback Capital Management LLC
Despite a 0.14% gain in December, managed futures lost 3.05% in 2011 according to the Barclay CTA Index compiled by BarclayHedge.
“The slightly positive returns for December masked the volatility in the major market sectors,” says Sol Waksman (pictured), founder and president of BarclayHedge. “Equity markets reversed sharply at mid-month, commodity markets were down, and bond markets continued their long march upward.
“Overall, CTA performance has been remarkably positive over the past three decades. Since we began tracking managed futures performance in 1980, the Barclay CTA Index has had only five years of losses against 27 years of gains. Prior
361 Capital, a provider of alternative investment portfolios to major institutions, financial intermediaries, and high-net-worth investors, has launched the 361 Capital Systematic Index (bloomberg:361SI), a rules-based quantitative method that systematically generates technical indicators against price and volume trends on equity indexes.
The Index is constructed using a quantitative model based solely on broad equity markets that identifies when to maintain long or short market exposure. The firm employs a proprietary approach that utilises a combination of short- and medium-term trading signals to pinpoint entry and exit points on a daily basis.
The 361 Capital Systematic Index has more than ten
Private market advisory firm Somerset Capital has appointed Michelle M Donabedian as a partner. Donabedian is an experienced hedge fund marketer with a background at BlueBay, CQS, Credit Suisse, Tremont, and Man Investments. Somerset Capital’s Jill Hodges (pictured) was one of her clients when she was at Credit Suisse in 2007.
Hodges says: “I am delighted that Michelle has joined us. She is well-known as a bright and professional marketer and her relationships with investors will further strengthen our offer, both in the US and in Europe.”
Jim Miller, Managing Director, says: “I am delighted to welcome Michelle to the
Bernheim, Dreyfus & Co is to allocate a capacity of EUR200 million for its two main investment vehicles – Diva Synergy and Diva Synergy UCITS, to Hyde Park Investment.
The fund’s euro class returned +0.58% net of all fees last year, bringing the performance since inception in January 2007 at +25.00%. Over the past year, the fund significantly outperformed its benchmark index as the HFRX Event Driven Index was down -4.90%.
Meanwhile, the daily UCITS version of its flagship fund, launched in June 2011, returned +1.34% over its first seven months of operations (during the same period, the HFRX UCITS
The proposed European Union financial transaction tax (FTT) could lead to a significant decrease in cross-border trading of financial instruments in the EU, undermining the single market, according to the Alternative Investment Management Association (AIMA), the global hedge fund association.
AIMA, which has carried out a comprehensive analysis of the proposed FTT, said there would be a significant slowdown in trading of financial instruments like shares, bonds and derivatives in the EU.
The AIMA analysis concluded that the FTT would have widespread, unintended damaging consequences. As well as undermining the EU’s single market, the FTT would be likely to
