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Former Treasury and Economic Development Minister Allan Bell has been appointed as the new Chief Minister of the Isle of Man, effective Tuesday 11 October, 2011).
The Ramsey MHK was elected to the position by Tynwald, the Island’s parliament, of which he has been a member for 27 years. He takes over as leader of the Manx Government from Tony Brown, who has retired from politics after a long and distinguished career.
Bell (64), a longstanding leader of efforts to reform and update IoM financial sector legislation, including fund regulation and to promote the industry internationally, was first elected to
Hedge fund flows, as measured by the GlobeOp Capital Movement Index, advanced 0.31% in October.
“Hedge fund investors remain committed,” says Hans Hufschmid, chief executive officer, GlobeOp Financial Services. “After a double-digit decline in equities over the quarter, alternative investments continue to hold their attraction.”
The GlobeOp Capital Movement Index represents the monthly net of hedge fund subscriptions and redemptions administered by GlobeOp. This monthly net is divided by the total assets under administration (AuA) for GlobeOp’s fund administration clients.
Cumulatively, the GlobeOp Capital Movement Index for October 2011 stands at 137.46 points, an increase of 0.31 points over September
The US Commodity Futures Trading Commission (CFTC) has obtained federal court consent orders resolving its remaining claims against defendants Ray M White and CRW Management LP (CRW) and relief defendants Christopher R White and Hurricane Motorsports, LLC, all of Mansfield, Texas.
The claims arose from a CFTC complaint filed on March 4, 2009, in the US District Court for the Northern District of Texas, charging the defendants with operating a multi-million dollar off-exchange foreign currency Ponzi scheme (see CFTC Press Release 5626-09, March 5, 2009). The relief defendants were named in the lawsuit because they received funds as a result
PerTrac has announced an exclusive partnership with MondoAlternative, Italy’s largest provider of hedge fund data.
The MondoAlternative database contains qualitative and quantitative records on over 2,200 hedge funds, including all the Italian "fondi speculativi", more than 1,200 European hedge funds, all of the Swiss-registered hedge funds, in excess of 700 alternative UCITS funds and Investable Indices.
In addition to daily updates of hedge fund data, PerTrac subscribers will have access to MondoAlternative’s monthly rankings of hedge funds and alternative UCITS as well as its monthly magazine that reports on the Italian and international alternative industry through interviews, reports, statements of
Trident Fund Services has appointed Brenda M Mauro as Head of North America Business Development. Mauro will support the expansion of the Trident Fund Services business in the US and abroad.
Ms Mauro previously held positions at RK Consulting and JP Morgan Hedge Fund Services. Her broad industry experience includes helping hedge and private equity fund managers and their advisors in the US and abroad with the establishment and operation of domestic and foreign funds.
“Clients want a worldwide platform, independence, technical competence and great service,” says Mauro. “My goal is to bring to clients the benefits and
Swiss Investment Managers has appointed Kevin Ryan, Andrew Garai as Non-Executive Directors of the firm. At the same time it has named Melina Panagos as COO and Head of Compliance.
The appointments follow the successful launch of the Directors Dealings Fund, the first and what is believed to be the only hedge fund dedicated to investing based on directors’ and senior executives’ own dealings in their firms’ shares.
Newly-appointed Non-Exec Kevin Ryan is the founder of HedgeDirector Ltd, a provider of expert, independent directors to the hedge fund industry. He was also a founding employee at Financial Risk Management and
JP Morgan’s active tri-party repo clients have successfully completed the transition to three-way trade confirmation as mandated by the Tri-Party Repo Market Infrastructure Reform Task Force.
By value, 99% of all tri-party repos booked daily through JP Morgan are now confirmed by both counterparties.
According to Kelly Mathieson (pictured), Worldwide Securities Services Global Custody and Clearance Executive at JP Morgan: “This milestone reflects the concerted efforts of our whole community. JP Morgan has worked daily with dealers and cash investors in its tri-party repo program to familiarize them with our new tools and procedures and ensure their smooth transition to three-way
PDL International, a global provider of alternative investment services, has announced the UK launch of an innovative range of UCITS-compliant hedge funds.
The funds, which are regulated by the Financial Services Authority, are designed to deliver growth irrespective of market conditions and are available to both institutional and retail investors.
The funds are being distributed in the UK by PDL International on behalf of Swiss-based fund manager Salus Alpha. Formed in 2001 and with assets of over USUSD1.2bn under management, the company was the first to obtain UCITS status for a range of hedge fund products and has a
Just 11% of institutional hedge fund investors have stated that returns on their investments have exceeded expectations in the past 12 months, the latest Preqin study shows.
The proportion of investors that believe returns have exceeded, or been in line with, expectations has fallen by 11 percentage points to 60% since 2010. This is the lowest proportion in the past four years.
Some 19% of investors felt that returns had exceeded their expectations in 2010, compared to 11% in 2011 and 9% in 2008.
The proportion of investors that feel returns have fallen below expectations in 2011, 40%, is the
NYSE Euronext (NYX) has launched the CAC International 25 Index to increase the visibility of global firms listed in Paris.
The CAC International 25 Index reflects the performance of the 25 largest international companies[1] listed on NYSE Euronext in Paris based on total market capitalizations and local trading volumes. Index constituents are equally weighted.
This new index is calculated and published at the end of each trading day after the market closes. The CAC International 25 Index will be revised annually in September and rebalanced four times a year in March, June, September, and December.
“We are very
