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In a new EDHEC-Risk Institute position paper, “A Review of the G20 Meeting on Agriculture: Addressing Price Volatility in the Food Markets,” Hilary Till (pictured), Research Associate with EDHEC-Risk Institute, and Principal of Premia Capital Management, examines food price volatility in the context of the G20 meeting of agriculture ministers.
In reviewing the evidence so far regarding the impact of commodity trading, speculation, and index investment on price volatility, the report finds that the evidence for the prosecution does not seem particularly compelling at this point. The paper’s conclusion is to agree with the World Bank president who has
Tripp Kyle has joined Brunswick Group as a Partner in the firm’s New York office. Kyle joins from Finsbury Group, where he played a pivotal role in building the firm’s New York office and its alternative investment management practice.
At Brunswick Kyle will focus on advising clients in the financial services sector, including asset management and alternative investment companies, such as hedge funds, real estate investment and private equity firms. He will also provide counsel to corporate and investment management clients on shareholder activism and corporate governance campaigns, as well as mergers and acquisitions, restructurings, and special situations.
“Tripp will
LCH.Clearnet Limited’s (LCH.Clearnet) market leading over-the-counter (OTC) interest rate swap (IRS) clearing service, SwapClear, has extended the range of currencies available for clearing. Interest rate swap trades denominated in Hungarian Forint (HUF), Czech Koruna (CZK) and Singaporean Dollars (SGD) out to 10 years can now be cleared.
Following the extension, 17 of the world’s largest currencies with maturities of up to 50 years are available for clearing through SwapClear. The unique and extensive product scope the service offers enables over 95% of all eligible IRS trades to be cleared, fostering transparency and security in the OTC derivatives market. Broadening the
Dalton Strategic Partnership (DSP), the global investment specialist, has appointed Gaurav Pant as investment advisor to the new MST Indian Absolute Return Fund (MSTIARF). The fund is expected to launch in September 2011 as a sub-fund of the Melchior Selected Trust, a Luxembourg SICAV.
Gaurav joins DSP from Goldman Sachs where he worked for over 8 years, most recently as executive director with Goldman Sachs Principal Strategies in London. He has a degree in Engineering from Delhi College of Engineering and an MBA from the Indian Institute of Management, Ahmedabad. He will join DSP’s existing Indian equity investment team based
Ralf Oberbannscheidt (pictured), portfolio manager, DWS Invest Global Agribusiness believes commodities will remain under pressure due to increased demand for food and fuel…
Sentiment was weak in emerging markets as signs of decelerating demand appeared, a result of rising energy prices year-on-year. Supply chain disruptions associated with the Japanese earthquake have weighed on global production. In addition, German and French industrial production posted lower numbers in June. More positively, euro area sales and German factory orders rose.
Possibly more significant is the fiscal front across the euro and the rising uncertainty caused by tensions in Greece. The fear of
Bruno Prigent, currently Deputy Head of Societe Generale Securities Services (SGSS), is to become Head of the organisation from 30 September 2011.
He will join the Executive Committee of the Private Banking, Global Investment Management and Services division as well as the General Management Committee of Societe Generale Group. Prigent will report to Jacques Ripoll, Head of this division.
Prigent replaces Alain Closier who, after 34 years at Societe Generale Group, including 12 years as a member of the Group’s General Management Committee, has decided to give a new direction to his career and will leave the Group next October.
James Kelly has joined Citi’s Prime Finance Group, enhancing Prime Finance’s capital introductions capabilities for its hedge fund client base. Kelly joins Citi as Director and Pensions Specialist within Prime Finance’s Capital Introductions Group.
Kelly was previously at Morgan Stanley where he initiated and developed their Pension Solutions Group and most recently served as Head of Transition Management in the Americas, covering pension funds. At Citi, Kelly will be based in New York and will report to Elizabeth Neely, US Head of Capital Introductions.
"As more pension funds move directly into alternative investments, most specifically hedge funds, it is critical
The US Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges that Christopher Louis Pia of North Castle, NY, while employed as portfolio manager for Moore Capital Management, LLC (Moore Capital), attempted to manipulate the settlement prices of palladium and platinum futures contracts on the New York Mercantile Exchange (NYMEX). Moore Capital is a predecessor of Moore Capital Management, LP.
The CFTC order requires Pia to pay USD1 million civil monetary penalty. It also permanently bans Pia from trading CFTC-regulated products during the closing period of the markets and from trading CFTC-regulated products in platinum
AQR Capital Management has formed a reinsurance group that will develop investment strategies that have low correlation with traditional markets and hedge funds.
David G Kabiller (pictured), founding partner of AQR and Head of Client Strategies, is organising this business and has recruited Andrew J Sterge, PhD to lead the reinsurance effort. Dr Sterge, who studied game theory at Cornell, is a top reinsurance specialist and former head of both Pulsar Re Holdings, the reinsurance affiliate of Magnetar, and the Cooper Neff Group.
"AQR now has an experienced reinsurance group," says Kabiller. "It is led by widely recognized industry experts
NYSE Liffe, the Europe-based derivatives business of NYSE Euronext (NYX), has received regulatory approval from Brazil’s Securities and Exchange Commission, the Comissão de Valores Mobiliários (CVM), to offer direct electronic access to its London market with immediate effect.
The CVM’s decision to grant approval enables enables customers in Brazil to benefit from direct access to NYSE Liffe’s Short Term Interest Rate, Bond, Swapnote, Equity and Commodities Futures and Options. Alternatively, Brazilian firms can continue to make use of non-direct (intermediated) access for the execution of their NYSE Liffe business.
Garry Jones (pictured), Group Executive Vice President and Head of Global
