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A pair of former Lone Pine and Goldman Sachs executives are planning to raise USD1billion for a new Asia-focused hedge fund said sources familiar with the matter
Singapore’s USD53billion hedge fund industry could be under threat of shrinking on the back of new regulations that are expected to raise costs for small h
GlobeOp Financial Services (LSE:GO) has appointed Eamonn Greaves as head of business development. Greaves reports to Hans Hufschmid (pictured), chief executive officer, and is based in the company’s New York City headquarters.
Greaves is a managing director at GlobeOp and previously led the company’s Hartford, CT office, with responsibility for regional fund accounting and operations.
“Eamonn brings comprehensive technical product knowledge, a deep understanding of our client service model and market experience to his new position,” says Hufschmid. “Since joining GlobeOp in 2001 he has worked extensively with clients to identify and support their evolving needs. In recent years, he’s
RBC Dexia Investor Services has appointed Guy d’Albrand as Head of Securities Lending and unveiled its new global Market Products & Services (MPS) business model, offering clients access to multiple portfolio solutions under one umbrella.
D’Albrand previously worked with Société Générale and Newedge, holding senior positions in their investment management and services, investment banking and brokerage units. In his new role, he will be responsible for product management and development for both securities lending and stock borrowing. He joins in January, 2012 and will be located in London.
Susan Pike (pictured), Global Head, Market Products & Services, says: “This
Hedge funds posted monthly declines in November for the fifth time in the last seven months, as lack of clarity on resolution of the European sovereign debt crisis resulted in continued investor caution and risk aversion. The HFRI Fund Weighted Composite Index declined by 0.92 per cent, with weakness across all sub-strategies more concentrated in equity and credit sensitive strategies, as reported today by HFR (Hedge Fund Research, Inc.) the leading provider of data, indices and analysis of the global hedge fund industry.
Relative Value funds posted a decline for the month, as US interest rates declined while borrowing
The Securities and Exchange Commission (SEC) has recently unleashed a powerful new screening tool, Aberrational Performance Inquiry (API), to identify possible fraudulent valuations and misreported returns by hedge fund managers reporting above benchmark returns. Axiom Valuation’s AIRAS capability can protect hedge funds from a possible SEC API by demonstrating through a quantitatively robust and empirically defensible report that the fund’s self-reported returns match the fund’s strategies.
Last week’s SEC announcement of enforcement actions against three hedge funds and six individuals for misconduct including improper use of fund assets, fraudulent valuations, and misrepresenting fund returns, demonstrated a ground-breaking shift in the
The Depository Trust & Clearing Corporation (DTCC) has launched a global, over-the-counter (OTC) interest rates derivatives trade repository.
DTCC’s Global Trade Repository for Interest Rates for this USD553.8 trillion market (approximately EUR414 trillion or GBP356 trillion) will be based in London. Data from 15 of the largest global dealers is now being submitted into the repository.
Today’s announcement represents the latest development in DTCC’s drive to bring greater transparency across different OTC derivative asset classes, helping to reduce operational and systemic risk. DTCC already operates global trade repositories for OTC credit derivatives (principally credit default swaps) and for OTC equity
Merrill Lynch Commodities, has agreed to pay a USD350,000 civil monetary penalty to settle CFTC charges that it exceeded speculative position limits in Cotton No2 futures contracts in trading on the IntercontinentalExchange U.S. (ICE). MLCI also agreed to cease and desist from further such violations of Section 4a(b)(2) of the Commodity Exchange Act (CEA).
According to the CFTC order, MLCI held net futures equivalent positions in Cotton No2 futures contracts in excess of CFTC speculative position limits on ICE over four consecutive days from 31 January, 2011, through 3 February, 2011. These MLCI positions exceeded the CFTC’s speculative position limit
The California State Teachers’ Retirement System (CalSTRS) has selected Lyxor Asset Management as its advisor in the development of a new global macro hedge fund strategy.
The selection of Lyxor concludes a 15-month selection process for a consultant to help CalSTRS investment staff initiate, monitor and assess its global macro hedge fund strategy.
The new strategy is part of the CalSTRS Innovation Portfolio and will be implemented on a trial basis for up to a three-year period to determine its value to the larger CalSTRS investment portfolio.
“In these times of economic volatility and uncertainty, it’s important to diversify the
Paul McLaughlin has been appointed as head of operations for State Street’s Alternative Investment Solutions team in Guernsey.
McLaughlin, who has more than 15 years of experience in the alternative investment industry, joins State Street to help further build its alternative investment servicing business in Europe, Middle East and Africa (EMEA) with a particular focus on the private equity and real estate funds sectors.
McLaughlin joins from BNY Mellon in Dublin where he worked for 11 years, most recently as head of alternative investment servicing fund of funds and private equity for EMEA. He also gained experience with the
