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New hedge fund launches in the second quarter of 2011 totalled 280, a slight decline from the 298 new funds that were launched in the first quarter, according to data released today by HFR in the latest edition of Market Microstructure Report: 2Q11.
The first half launch total of 578 was the strongest six months since the first half of 2007, as total hedge fund industry capital reached a record level of USD2.04 trillion. Fund liquidations in 2Q totalled 191, a slight increase from the 1Q total of 181; the liquidation total for the second quarter represents an attrition
The Alternative Investment Management Association (AIMA), the global hedge fund association, has responded to a consultation by the European Securities and Markets Authority (ESMA) on how the Alternative Investment Fund Managers Directive (AIFMD) should be implemented.
ESMA, which is responsible for advising the European Commission on the implementing measures for the AIFMD, sought feedback on a consultation paper it circulated in July.
AIMA said many of ESMA’s draft proposals were “measured”, but several major areas of concern remained, including proposals relating to depositaries, leverage, valuation, transparency and liquidity management. So-called third country (non-EU) issues are covered by a separate
Sciens Fund of Funds Management Holdings has appointed Stefan Mülheim as Senior Managing Director, responsible for institutional business development in German speaking Europe.
Mülheim reports to Dr Stavros Siokos, President of the fund of hedge funds business and the Managed Account Platform. The appointment of Mr Mülheim is a new position in the Firm and marks the importance of the German speaking market and the continuing growth of Sciens.
Dr Siokos says: “We’re delighted to welcome Stefan on board. He has considerable knowledge of the challenges German institutional investors face and will be able to assist them to find suitably tailored alternative
Global alternative investment firm Investcorp has appointed Savio Tung as Chief Executive Officer, North America.
Tung returns to a full time role at Investcorp, where he was one of the founding partners and served from 1984 until 2009, from 1995 until 2000 as Head of Corporate Investment, North America and from 2001 to 2009 as Head of Technology Investment. From 2009, Tung served as an advisor to Investcorp and as Chairman of its Technology Investment Committee, combining this with a number of board positions, including a role with Bank of China, Hong Kong Limited.
He re-joins as Investcorp, last month,
The Board of Directors of ALTIN AG , the Swiss alternative investment company, has decided not to propose to shareholders the transformation of the company into an open-end collective investment vehicle.
After a thorough assessment, it appears that, given tax and regulatory aspects in some countries, such a change would not be in the interest of all shareholders.
This restructuring project was one of the options announced in April 2011 in the context of the shareholder value promotion policy put in place by the Board several years ago.
In addition to the discount reduction measures currently in place, the
CitiFX has launched a new multi-manager platform, CitiFX Access, offering a range of vehicles facilitating investment in FX managers via multi-strategy benchmark and actively-managed indices licensed from leading index sponsors.
The returns of these indices are driven by the performance of currency programs run by the most prominent hedge funds, asset managers and advisors in the industry. From inception, the platform will represent about 35 currency programs estimated to account for more than 50% of the assets under management in currency funds.
CitiFX Access is partnering with BarclayHedge, Parker Global Strategies, Absolute Return Strategies and Quaesta Capital — prominent research
Golden Prospect Precious Metals has announced a one for two bonus issue of subscription shares to all shareholders of the Company.
The issue of Subscription Shares is in recognition of the invaluable support the Company has received from its shareholders. The Board believes that a bonus issue of Subscription Shares will be beneficial to existing shareholders as it will provide them with an instrument which may be traded on-market and gives them the opportunity to participate in any future net asset growth of the Company through subscribing for ordinary shares in the Company ("Ordinary Shares").
John Wong, who manages the
Certain funds and accounts managed by Oaktree Capital Management have made a proposal to acquire all outstanding shares of JAKKS Pacific, Inc’s common stock for USD20.00 per share in cash, representing a total equity value of approximately USD670 million on a fully diluted basis.
The offer represents a 25% premium over the Company’s closing stock price as of 13 September, the 30-day average closing price of the Company’s stock leading up to September 13, and the average closing price of the Company’s stock over the preceding 24 months.
The Oaktree Funds are making the proposal public after the JAKKS
Samuel E "Q" Belk IV, has joined investment consultant Cambridge Associates as Director of Diversifying Investments.
Belk was most recently a Managing Director at the Dartmouth College Investment Office, where he was responsible for hedge fund and distressed portfolios and private equity. Prior to joining Dartmouth in 2008, he was a Managing Director at Lehman Brothers Japan, where he served on the Asia risk management committee and headed a pan-Asia group focused on hedge funds, sovereign wealth funds and Asian fixed income, foreign exchange and futures products.
At Cambridge Associates, Belk will be evaluating investment opportunities and overseeing a team
Orc Group has launched Orc Market Maker for EMEA, a high-performance solution designed to address the most pressing challenges faced by market makers in today’s competitive markets.
Developed and proven on some of the most demanding instruments listed on EUREX, Orc Market Maker provides advanced market leading technology off -the-shelf at a fraction of the typical cost.
Orc Market Maker features a server based quoting engine and the ability to connect to multiple markets from a single screen. With support for options, warrants, and structured products, Orc Market Maker can be utilised across desks. Furthermore, customers have the choice
