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The Candela Fund, previously managed by Olympus Capital LLP has moved to Matrix Asset Management.
As part of the transition the fund has been re-named the Matrix Pan-European Equity Fund and Matrix Alternative Asset Management LLP has taken over as Investment Manager.
Portfolio Managers John Barden and Anthony McCarthy, who have managed the Fund since launch in 2000, delivering positive returns in nine out of ten years (including 2001, 2002 and 2008), remain at the helm.
The fund will continue with its investment objective to generate absolute returns whilst minimising volatility, by investing principally in liquid large to
Another draconian measure is set to grace the industry – FATCA (Foreign Account Tax Compliance Act), says Dermot Butler (pictured) chairman of Custom House Global Fund Services Ltd and Custom House Group.
I have to say, as far as regulation goes, this worries me in terms of its pervasive nature and the number of foreign financial institutions (FFIs) it’ll affect.
Compliance on this is going to be a major headache. As I understand it, any FFI involved will be responsible for reporting the activities of American investors to the IRS. If investors are holding assets in an offshore fund and
The Commodity Futures Trading Commission’s (CFTC’s) Office of General Counsel has issued a no-action letter on 31 August, 2011, permitting the offer and sale in the United States of Euronext Brussels’ (EB) futures contract based on the BEL 20 Index (B20).
The B20 is a free-float, market-capitalization-weighted index of the largest and most liquid 20 stocks listed on the EB, and it serves as the blue-chip index for the Belgian equity market. As of December 2, 2010, the total adjusted market capitalization of the stocks in the B20 was approximately USD89 billion.
The Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges that Roy Scarboro, Jr of Archdale, NC, fraudulently solicited approximately USD713,000 from customers to trade off-exchange foreign currency (forex).
The CFTC order also finds that Scarboro misappropriated funds for his personal use and issued false account statements to conceal that he lost most of the funds trading. Scarboro has never been registered with the CFTC.
The CFTC order requires Scarboro to pay a USD350,000 civil monetary penalty. The order also permanently prohibits Scarboro from trading on a CFTC-registered entity and from registering or seeking exemption from registration
Order book turnover on Xetra and the Xetra Frankfurt specialist trading stood at EUR181.6 billion in August – an increase by 102 per cent year-on-year (August 2010: EUR89.7 billion).
Of the EUR181.6 billion, EUR173.4 billion were attributable to Xetra (+107 per cent y-o-y, August 2010: EUR83.8 billion). EUR8.2 billion were attributable to the Xetra Frankfurt specialist trading, an increase of 38 per cent y-o-y (August 2010: EUR5.9 billion). Order book turnover on Tradegate Exchange totalled EUR4.6 billion in August, nearly four times as much y-o-y (+279 per cent, August 2010: EUR1.2 billion).


In equities, turnover reached EUR148.1 billion on Deutsche
Don Seymour (pictured), founder and managing director of DMS Management and former head of investment services at the Cayman Islands Monetary Authority, says last week’s judgement against directors of the Weavering Macro Fixed Income Fund, for failure to perform their duties adequately, was a long time coming – and that in future members of Cayman fund boards who fail to perform their duties and responsibilities properly will pay a heavy price…
It was bound to happen. There are more than 10,000 directors serving Cayman Islands funds – everyone from rank amateurs to serious professional firms – and fund governance has
US law firm Dechert LLP released a note today on news that the Chilean Pensions Regulator, Comision Clasificadora de Riesgo (CCR), has decided to disapprove Irish-domiciled UCITS for
London-based RiverCrest Capital, a recently established absolute return-focused investment manager, has signed its first two teams with plans to launch funds
Stockholm-based RPM Risk & Portfolio Management AB, who specialize in running CTA and global macro strategies, have received approval from Luxembourg&rsqu
Amidst the turbulence of recent market conditions, European absolute return funds and multi-asset flexible funds failed to consistently perform and provide sufficient protection against downside ri
