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Citi has introduced a new operating model for hedge funds, designed to help managers launch, manage and build successful hedge funds without excessive investment in non-core functions.
Citi Prime Finance’s Hedge Fund 3.0 details an outsourcing and partnership framework to help hedge funds achieve greater efficiency across their support functions and infrastructure, allowing them to focus on their core marketing, investor relations and investment management processes.
"The Hedge Fund 3.0 concept reflects the emergence of specialty providers who focus on the hedge fund industry, enabling fund managers to concentrate on key aspects of investment management while reducing their base
EFG Financial Products Group has announces the roll out of its services in the United Kingdom with the opening of a London-based office, a branch of its subsidiary EFG Financial Products (Europe) GmbH.
The EFG Financial Products Group, headquartered in Zurich, Switzerland, designs innovative investment products based on a leading state-of-the-art and fully integrated structured products platform. To meet the most rigorous client requirements, the group aims to set new standards in stability and flexibility. Its goal is to provide maximum transparency to the markets and act as a market maker, in selected markets providing liquidity to investors at all
In light of the current fiscal and monetary concerns that are gripping the minds of investors around the world, Institutional Asset Manager asked the heads of some of the world’s leading asset managers to share their thinking on portfolio management trends post-Lehman and beyond 2011 in concise fashion. Jeff Molitor (pictured), CIO Europe, Vanguard, responds:
"In both the equity and fixed income space, the move away from capitalization-weighted benchmarks to equal-weighted or alternative benchmark approaches is an unfortunate trend in institutional investment segments, reflecting a backwards-looking view of the markets and active bets based on data-mining (marketed as indexing). As
For the year up to 31/10/2011, all Salus Alpha Funds clearly outperformed global equity markets in a difficult environment.
The Salus Alpha Commodity Arbitrage had a performance of +4.84% for the year to date until , while the US S&P 500 Index lost -0.35%, and the German DAX30 index lost -11.18% in the same period. This is an outperformance against the S&P 500 Index of +5.19% and against the DAX 30 Index of +16.02%.
In such a difficult market environment, this outperformance results from the employment of an active management approach and from the diversification over numerous strategies and
Cayman-based Caledonian Global Financial Services has announced the acquisition of the Beacon Group of companies, which is based in the British Virgin Islands and comprises Beacon Capital Management, Beacon Fund Advisors and Beacon Fund Administrators.
Beacon is a provider of fiduciary services, fund management and administration, and other investment services in both the BVI and Cape Town, South Africa. While regulatory approvals are pending, this transaction will serve to reinforce Caledonian’s international presence.
Caledonian Fund Services’ assets under administration will increase to USD5bn, transforming the group into one of the strongest administrators in the jurisdictions that they operate. Caledonian Fiduciary
Phoenix Administration Services is to provide the investment administration services for Hansa Trust, a London-quoted investment trust company that invests in a portfolio of special situations. Hansa Capital Partners LLP is both the Investment Manager and Company Secretary of Hansa Trust.
Peter Gardner (pictured), Company Secretary of the Hansa Trust says: “Hansa Trust is delighted to be working with Phoenix. The combination of Phoenix’s established record for supporting investment trusts allied with its middle office service proposition and its proprietary software offer, assurance of the quality of service that the trust will receive, together with real value to the trust
The Securities and Exchange Commission has obtained a record financial penalty of more than USD92.8 million against billionaire hedge fund manager Raj Rajaratnam for widespread insider trading.
The final judgment entered by the Honourable Jed S Rakoff of the US District Court for the Southern District of New York finds Rajaratnam liable for a civil monetary penalty of USD92,805,705, which marks the largest penalty ever assessed against an individual in an SEC insider trading case.
The SEC brought civil charges against Rajaratnam on 16 October, 2009, alleging that he and several others including his New York-based hedge fund advisory firm
The Hennessee Hedge Fund Index advanced 2.46% in October (-2.95% YTD), while the S&P 500 increased 10.77% (-0.35% YTD), the Dow Jones Industrial Average advanced 9.54% (+3.25% YTD), and the NASDAQ Composite Index climbed 11.14% (+1.19% YTD).
The Barclays Aggregate Bond Index advanced 0.11% (+6.79% YTD) as bonds were mixed. Treasuries declined with the S&P/BG Cantor 7-10 Year Treasury Bond Index falling 1.31% (+12.73%), while the Barclays High Yield Credit Bond Index increased 5.99% (+4.52% YTD).
“Renewed optimism about the U.S. economic recovery, Europe’s ability to address its debt problems, and China’s ability to avoid a hard landing resulted
Last month Francisco Arcilla (pictured) joined AXA Investment Managers as their new Global Head of AXA Funds of Hedge Funds, an exciting role that will see him drive forward AXA IM’s tailored solution-based approach to meeting clients’ investment needs. Arcilla is based in London and reports directly to Thibaud de Vitry, Global Head of AXA IM’s Investment Solutions business.
Speaking to Hedgeweek about his new role, Arcilla enthused about the opportunity of developing AXA’s FoHFs business, which he admits is fairly classical in nature, into a new generation FoHFs model. “From AXA IM’s viewpoint it’s also about how we can
Prominent investors are using the recent market turmoil as an opportunity to pressure private equity firms into changing the way they organise their fee structures. Sovereign wealth funds have been particularly vociferous about changing the traditional model of management fees of up to two percent. Mark Spinner (pictured), partner at international law firm Eversheds, comments…
The thorny issue of ‘excessive management fees’ has been around for a little while now and with some of the mega leveraged buy-out funds it is not hard to see why. A 2% annual management fee on a Fund of EUR6 billion amounts to a
