Latest News
The Australian Securities and Investments Commission (ASIC) has entered into enforceable undertakings (EUs) with the remaining two former directors of Trio Capital Limited (Trio), Keith Finkelde and David O’Bryen.
Finkelde, who was a non-executive director from April 2007 and was also a member of the Investment Committee of Trio from July 2008, has agreed not to act in any role within the financial services industry for four years. He has also agreed not to act as a director of any corporations for four years.
O’Bryen who was a non-executive director of Trio from June 2007 and was chairman of the
Wealth and alternative asset management group Peregrine Holdings has created a new company within the group with the ability to raise capital for selected alternative investment managers that are not necessarily affiliated to the Peregrine group. The unit will focus on sophisticated local and international investors.
“We are thrilled to announce that we now have the ability to engage with non-Peregrine group funds which complement the existing offering and can pass our rigorous due diligence process. This greater scope will give investors further comfort that they are being introduced to managers that, in our view, are best-of-breed," says Leila Kuhlenthal,
The European Energy Exchange (EEX) and the Eurex Exchange are to introduce a new incentive model for the emissions market which aims at strengthening the EEX CO2 market in the competition with other trading platforms. The model targets the secondary market trading and is designed to increase the attractiveness of EEX prices (tight spreads) and hence liquidity of the markets.
The future incentive model, which is due to launch on 1 September, provides for two volume thresholds: If the monthly volume achieved by a trading participant exceeds a level of two million tonnes of CO2 or a level of four
Lyxor Asset Management’s latest Research White Paper analyses the risk/return profile of dynamic investment strategies, specifically those implemented by hedge funds.
The paper seeks to answer the questions: how is it possible for funds that have performed consistently to tumble in just a few months? Are these brutal reversals only attributable to market factors or are certain investment behaviours also to blame? Note that so-called extreme risks refer to the possibility of infrequent but important losses.
Lyxor’s research shows that strategies that bet against the market are generally exposed to extreme risks, whereas strategies that follow market trends offer a
After the market decline of 2008, the hedge fund industry experienced a significant contraction that was driven by negative performance, heavy redemptions and almost a complete seizing of inflows. The major question running through the hedge fund industry today according to Don A Steinbrugge, managing partner of Agecroft Partners is – to quote Yogi Berra, the famous New York Yankee catcher – is it “déjà-vu, all over again”?
Agecroft Partners is in contact with over a thousand investors per month and they see two major trends developing within the hedge fund investor community based on the recent sell off in
The Blue Ink Composite (BIC), which tracks the performance of around 100 Hedge Funds in South Africa, reported a steady 2.11% increase for the second quarter of 2011. The BIC outperformed the JSE All Share Index (ALSI) by 2.72%, which returned -0.61% over the same period.
According to Eben Karsten (pictured), portfolio manager at Blue Ink Investments, the second quarter of 2011 was another difficult quarter for the local equity market. “Risk aversion increased sharply over the three months to June, with global growth and debt concerns in peripheral Europe leading to widespread market volatility," says Karsten.
The local
BNY Mellon Clearing has joined CME Group as a clearing member firm in order to clear over-the-counter interest rate swaps on behalf of its institutional clients.
As a result of recent regulatory changes, it is expected that a large percentage of derivatives transactions will be cleared through central clearinghouses. The Dodd-Frank Act passed in the United States last year mandated clearing of “standardised” OTC derivatives.
"The standardisation of OTC derivatives and migration to central clearing should reduce counterparty credit risk and allow better regulatory oversight," says Sanjay Kannambadi, CEO of BNY Mellon Clearing. “By joining CME Group as a clearing member for
A federal court in California has entered an order freezing the assets of defendants Douglas Elsworth Wilson of Poway, California, and three California companies that he controls and manages, Elsworth Berg Capital Management LLC (EBCM), Elsworth Berg Inc, and Elsworth Berg FX LLC (collectively, Elsworth Berg). The order also prohibits the destruction of their books and records.
The order arises out of a CFTC civil complaint filed on July 27, 2011 in the US District Court for the Southern District of California. The complaint alleges that the defendants solicited at least USD4.4 million from over 60 customers to trade commodity
Ogier Fiduciary Services Cayman Limited (OFSCL) has announced a new management structure designed to allow its leadership team to focus and develop capabilities for specific lines of business and build even deeper partnerships with clients.
“The growth and diversification of the fiduciary services business and Ogier Cayman overall has required us to look at our operating philosophy and structure in terms of current and prospective client needs,” says Colin MacKay, Group Director, Ogier Fiduciary Services. “The changes we’re announcing today reflect client demand for specialised capabilities across our lines of business and put us in an excellent position to capitalise
Fund administrator HedgeServ has expanded its international platform with the opening of an office in London on 22 August.
The office, located at 21 Upper Brook Street, W1, will focus on business development with hedge funds, funds of hedge funds, private equity funds, and institutional investment managers.
"Our entry into London reflects our commitment to answering the global demand for HedgeServ’s innovative, high-quality fund administration services," says Justin Nadler, president of HedgeServ. "We are well-positioned to deliver local expertise to clients through our growing London presence and our established Dublin office, with 250 experienced fund accounting, middle-office operations, and investor
