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Yannick Naud (pictured), Portfolio Manager at Glendevon King Asset Management is execpting further central bank intervention…
This type of coordinated emergency intervention is reminiscent with what has been done during 2008-2009. The liquidity situation today is in fact much worse than during 2008 for a large number of institutions for example within the Eurozone area.
We should expect further intervention I think in the near future given the seriousness of current economic woes.
So far Quantitative Easing for example were unilateral moves from National Central Banks. It might not be farfetched to imagine six central banks deciding on a new
A new analysis by CFA Institute recommends that careful implementation of post-trade transparency requirements beyond equities to the bond markets can benefit investors by improving access to pricing information and increasing competition, without sacrificing liquidity.
The study by CFA Institute, the global association of investment professionals, coincides with the proposals for greater transparency under the revised Markets in Financial Instruments Directive (MiFID).
The report, An Examination of Transparency in European Bond Markets, looks at the existing state of transparency in fixed income markets and the potential for increased transparency in Europe, drawing from the experiences of Italy – Europe’s
Goldilocks, the Swiss-run hybrid gold and currency fund is opening to investors on a continual basis following strong gains through 2011 with returns of +9.66% year-to-date (and +11.01% in the past 12 months) to end-October. The fund was originally “closed ended”.
The portfolio, advised by Zug-based Insch Capital Management AG, has attracted considerable support from investors due to its very high ROCAR rate (Returns On Capital At Risk) which verges on +45% (+44.98%) over the lifetime of the fund which first launched in January 2010.
“Beyond the strong performance, the key to Goldilocks’s success is the high level of capital
Advent Software, Inc has launched Tradex 4.0, the newest version of Advent’s industry leading solution for fund order management and distribution, in EMEA markets.
Tradex is a web-based system that is easy to use, and allows firms that distribute funds to replace labor-intensive manual procedures for fund share order processing with a highly automated work flow, all the way from order entry to settlement. Tradex helps these firms increase operational efficiencies and provide superior client service for fund order management and distribution, and can be tailored for any client in any market.
“The order processing of mutual funds and other
Conyers Dill & Pearman has hired Russian lawyer Yuri Kashkin (pictured) in its Moscow office and litigation lawyer Ben Hart in its Cayman Islands office, as the firm continues to grow its global practices.
Kashkin specialises in corporate and commercial work, including banking and finance, and regularly advises banks, public and private companies. Kashkin joins Conyers from the Moscow office of Freshfields Bruckhaus Deringer, where he was a corporate associate, and has also worked in the corporate team of Baker & McKenzie in Moscow.
Hart specialises in Cayman Islands litigation and restructuring, advising clients on commercial and contractual disputes, asset
Deutsche Bank and Omega Advisors are to launch a UCITS compliant DB Platinum Omega fund on Deutsche Bank’s UCITS platform in December 2011. The fund will be managed by hedge fund veteran Leon Cooperman (pictured), Chairman and CEO of Omega.
Cooperman runs Omega Overseas Partners, Ltd, a fund with a long-biased equity long/short strategy investing mainly in US mid- and large-caps.
Tarun Nagpal, Deutsche Bank’s European Head of Fund Derivatives, says: “Partnering with hedge fund veteran Leon Cooperman represents another key milestone for Deutsche Bank and is testament to our investors that dbalternatives will strive to provide access to the
The Hedge Fund Association (HFA) is launching a new chapter to advocate for hedge funds domiciled in Switzerland, Italy, Spain and Portugal and has named José Castellano, Managing Director of Pioneer Investments – an asset manager with USD230 billion assets under management (AUM) – as the Southern European Union (EU) Chapter Director.
“It is increasingly clear that the fate of the economy in southern Europe is powerfully linked with the world’s economy. As such, it only makes sense for the HFA to take steps to advocate for hedge funds domiciled within this critical area,” says David Friedland (pictured), President of the
A survey of the world’s leading hedge funds by independent hedge fund research and advisory firm Aksia, has found that 42% of hedge fund managers see potential for a default or restructure by Italy and Spain.
Conducted over recent weeks, the survey of 125 institutional calibre hedge funds representing approximately USD800 billion of assets under management (more than one-third of total hedge fund industry assets) also shows 60% of hedge fund managers see a similar prospect of Greece leaving the Euro and 65% think EU member states may issue Eurobonds.
Some 94% of managers call for further monetary easing by
The Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against Enskilda Futures Ltd (EFL), a London-based futures commission merchant (FCM), and Skandinaviska Enskilda Banken AB (SEB) for failing to diligently supervise accounts carried by EFL in violation of CFTC regulation 166.3.
SEB is a financial services group incorporated in Sweden that, according to the order, controls and directs EFL’s FCM activities. EFL’s immediate parent company is a fully-owned subsidiary of SEB. The CFTC order requires EFL and SEB jointly and severally to pay a USD150,000 civil monetary penalty.
The CFTC order finds that from
LCH.Clearnet has completed the transfer of over 300 MF Global UK client positions to the clearing member of the client’s choice. The operation has involved managing client positions across multiple markets including the London Stock Exchange, LIFFE, LME, Nodal, HKMEx, OTC energy, in multiple asset classes including cash equities, commodities, metals, financial and energy derivatives.
All segregated client monies have now been passed to MF Global UK Ltd’s (MF Global) administrator KPMG, enabling KPMG to return funds to clients. The final tranche was returned on Tuesday 29 November.
MF Global’s fixed income positions, which had a combined nominal value of over
