Latest News
The Securities and Exchange Commission (SEC) has charged Citigroup Global Markets Inc (Citigroup), the principal US broker-dealer subsidiary of Citigroup Inc., with misleading investors about a USD1 billion collateralised debt obligation (CDO) called Class V Funding III (Class V III).
At a time when the US housing market was showing signs of distress, Citigroup structured and marketed Class V III and exercised significant influence over the selection of USD500 million of the assets included in the CDO. Citigroup then took a proprietary short position with respect to those USD500 million of assets. That short position would provide profits to Citigroup
The Securities and Exchange Commission has filed a complaint in United States District Court in Riverside, California against Copeland Wealth Management, A Financial Advisory Corporation (CWM), Copeland Wealth Management, A Real Estate Corporation (Copeland Realty), and Charles P Copeland for fraud and breach of fiduciary duty.
As an investment adviser registered with the Commission, CWM manages approximately USD125 million in assets under management. The assets under management are primarily mutual funds and real estate funds. Copeland Realty, an unregistered investment adviser, is the general partner for 21 limited partnerships primarily invested in real estate. Charles Copeland, a certified public accountant,
The Scotia Capital Canadian Hedge Fund Performance Index finished September 2011 down 1.22% on an asset weighted basis and down 3.81% on an equal weighted basis. The Index outperformed broader equities on both asset and equal weighted bases, and outperformed global hedge fund peers on an asset weighted basis.
September brought more extreme intramonth market volatility. The key themes driving investor sentiment remained largely the same as in August: overall weak economic indicators across geographic zones, ongoing concerns over European banks and sovereign debt issues, including a possible default by Greece, as well as government interventions by Switzerland’s central bank
JP Morgan Worldwide Securities Services today announced that it has been appointed by Cerberus Capital Management, LP, one of the world’s leading private investment firms, to provide fund administration and related securities services for its investment funds with aggregate assets of over USD23 billion.
The JP Morgan platform will be supplemented by certain back-office personnel of Cerberus who will become employees of JP Morgan.
"The transition of the services to a world class third-party administrator provides our firm strong infrastructure support and the independence preferred by our investors,” says Jeffrey Lomasky, Senior Managing Director and Chief Financial Officer of
It’s been a bumper year so far for Hong Kong hedge fund manager Segantii Capital Management Ltd.
The Monetary Authority of Singapore (MAS) has requested that hedge fund manager 3 Degrees Asset Management to shut down its operations in response to alle
The number of family offices in Asia is set to triple from 500 to 1,500 within the next seven to 10 years according to Citigroup reported Bloomberg this w
As if performance wasn’t giving Asia-focused hedge fund managers enough of a headache last month, recent figures by Singapore hedge fund data provider Eure
Ogier has appointed new managing partners in each of its Cayman Islands and British Virgin Islands offices and a new chief executive officer in its fiduciary business in the Cayman Islands.
In the Cayman Islands, Nick Rogers, currently a partner leading Ogier Cayman’s corporate and commercial practice, has been named managing partner of Ogier Cayman’s legal business. Rogers first joined Ogier in the Cayman Islands in 2001 and, after some time with Walkers in Hong Kong and Cayman, rejoined as a partner in 2010.
Peter Cockhill (pictured), currently managing partner of Ogier Cayman legal business, will reassume his responsibilities
Judge Anthony J Battaglia of the US District Court for the Southern District of California has entered a consent order of permanent injunction against Scott Bottolfson and Spirit Investments, Inc (Spirit), both of Encinitas, Calif, and Increase Investments, Inc (Increase) of Reno, Nev, requiring them jointly and severally to pay a civil monetary penalty of USD6,813,462.51. The order also imposes permanent trading and registration bans against the defendants.
The court’s order stems from a CFTC enforcement action filed on 7 January, 2011, that charged Bottolfson, Spirit, and Increase with operating a USD14 million commodity pool Ponzi scheme and misappropriating USD11
