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The Securities and Exchange Commission filed a record 735 enforcement actions in the fiscal year that ended 30 September, 2011. This record number includes many cases involving highly complex products, transactions, and market practices, including those related to the financial crisis as well as insider trading by market professionals.
“We continue to build an unmatched record of holding wrongdoers accountable and returning money to harmed investors,” says SEC Chairman Mary L Schapiro (pictured). “I am proud of our Enforcement Division’s many talented professionals and their efforts that resulted in a broad array of significant enforcement actions, including those related to
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. Joseph Morgart (pictured), Senior Vice President, Alternative Strategies, Pyramis Global Advisors, responds:
"The top trend characterizing world investment markets from 2009 through 2011 following 2008’s global financial crisis (GFC) is volatility. Investors, institutional or retail, can ill-afford losses incurred – even those offset by periodic gains – but, more disconcerting for their long-term
The US Commodity Futures Trading Commission (CFTC) has filed a civil injunctive complaint charging defendants Nicholas Trimble and his companies, Capstone FX Quantitative Analysis, Inc. (Capstone) and Beekeepers Fund Capital Management, LLC (Beekeepers), all of Denver, Colorado., with fraudulently soliciting at least USD1.1 million from customers to trade foreign currency (forex) through pooled and managed trading accounts using a proprietary forex trading system.
On the same day the complaint was filed, 7 November, 2011, Judge Philip A Brimmer of the US District Court for the District of Colorado, Denver Division, entered a restraining order freezing Trimble’s, Capstone’s, and Beekeepers’ assets,
With confidence tentatively returning to the markets last month, Asian hedge funds were able to record positive gains, the Eurekahedge Asian Hedge Fund Index returning +2.2 per cent, slightly outpe
Man Group has made a key strategic hire as it plans to expand the business into mainland China, recruiting one of the country’s leading businesswomen, Yifei Li, as Country Chair, Ch
Hong Kong-based DragonBack Capital Limited, the former multi-strategy hedge fund manager that reinvented itself last year as a hedge fund platform, has onboarded Double Haven reported
The Securities and Exchange Commission has charged two Minnesota-based hedge fund managers and their firm with fraudulently funneling more than half a billion dollars of investor money into a Ponzi scheme operated by Minnesota businessman Thomas Petters. This is the fourth case that the Commission has brought against hedge fund managers in connection with the Petters fraud.
The SEC alleges that James N Fry of Long Lake and Michelle W Palm of Edina falsely assured their investors and potential investors that the flow of their money would be safeguarded by collateral accounts and described a phoney process for protecting their
Laurent Segalen (ex Nomura and Natixis) and Coos Battjes (ex CS and Nuon) have teamed up to launch a new clean energy fund, Euro Carbon Macro Fund (ECMF). ECMF’s mission is to provide qualified investors with liquid exposure to European environmental and energy markets.
Alpha is generated through the managers’ unique understanding of the relationships between the various components of the energy market, drawing on 20 years of experience as well as unique proprietary knowledge base of energy and emissions in the EU.
ECMF is a Luxembourg regulated SICAV-SIF with a monthly redemption, with a target size EUR150million. Pro-forma simulations
SYZ Asset Management, the institutional asset management division of the Swiss banking group SYZ & CO, is supplementing its alternative management offering with a managed accounts platform (segregated funds), which is now available in addition to its existing tailored alternative mandates and funds of hedge funds.
SYZ Asset Management intends to make this new service a benchmark in its field. The platform, which is the result of close cooperation between SYZ Asset Management and UBS Investment Bank, features substantial advantages in terms of transparency, risk management and reporting. As part of this cooperation, SYZ Asset Management will select managers to
A majority of alternative investment managers (57 per cent) are optimistic about their firm’s prospects over the next three years, according to a poll released by SEI.
The poll, conducted at SEI’s annual CFO Forum for Alternative Investment Managers in London, found that positive market prospects were the main reason behind this optimism. However, the remaining participants (43 per cent) were concerned about their firm’s prospects, marking a substantial increase from the minority (12 per cent) who expressed concern in a similar poll conducted in April.
Of those with a pessimistic outlook, most cited negative market prospects, weak branding, and
