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The Hedgeweek USA Awards 2011 for excellence among hedge fund managers and service providers have honoured the US industry’s best performers and their ability to demonstrate consistency and depth of expertise against the backdrop of a more complex, but also potentially more rewarding, investment climate.
The awards, presented at a lunch at New York’s Gansevoort Hotel on June 16, were decided by the votes of Hedgeweek’s nearly 20,000 US-based subscribers, who include institutional and high net worth investors as well as managers and other industry professionals at firms including fund administrators, prime brokers, custodians and advisers.
The inaugural Hedgeweek USA
HSBC Private Bank is maintaining its highest conviction overweight in hedge funds in the belief that the active and flexible investment approach employed by hedge funds is well suited to the current volatile market conditions.
In the latest HSBC Private Bank Quarterly Investment Outlook, Willem Sels, UK Head of Investment Strategy at HSBC Private Bank says: “With the recent slowdown in growth combined with high inflation being a challenge to riskier assets, we have downgraded equities, commodities and high yield bonds to neutral. With the upside in traditional asset classes becoming more limited, and markets likely to be volatile, we
The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Mark Adrian of Delray Beach, Florida, for his role in issuing false statements to customers in a fraudulent foreign currency (forex) scheme. The CFTC order requires Adrian to pay a USD140,000 civil monetary penalty and prohibits him from trading for or on behalf of any other person and applying for registration with the CFTC. Adrian is currently not registered with the CFTC.
The CFTC order finds that, from approximately 2005 through approximately August 2008, KJW Capital Management, LLC (KJW), where Adrian was an employee and member,
Pioneer Investments is incorporating its UCITS III structure Pioneer Absolute Return Equity (PARE) into the mainstream Luxembourg Pioneer Funds Umbrella.
Investors in the new fund, Pioneer Funds – Absolute Return European Equity should benefit from: greater transparency – the change in portfolio structuring allows the implementation of a Long/Short equity fundamental approach using derivative instruments to provide both long and short exposure at single position level in a UCITS vehicle; increased liquidity – fhe fund will now offer daily NAV which will improve the liquidity profile in terms of subscriptions and redemptions; and reduced fees – performance will not be
Sunwah International Asset Management (SIAM), the asset management arm of Sunwah International Limited, has entered into a non-binding letter of intent with RAB Capital plc for the purchase and novation of the investment management agreements of its Energy Fund and Octane Fund (the novation).
SIAM has also entered into discussions to acquire an 80% stake in PCE Investors Limited (PCE), a UK-based, FSA regulated, institutional management business with approximately USD550 million assets under management.
In addition, Sunwah has entered into a non-binding letter of intent with an Asian based alternative asset manager who has expressed its intention to commit to
Ogier Cayman has appointed Colin Berryman (pictured) to the role of Counsel in its corporate and investment funds practices, underscoring his contributions to the growth of those groups and his demonstrated excellence in client service.
“Colin is well known among clients and colleagues for the depth of expertise and quality of legal advice he provides, both of which reinforce the strength of Ogier Cayman’s corporate and investment funds practices,” says Peter Cockhill, Managing Partner. “Colin’s appointment to Counsel is an important recognition of his work and is well-deserved.”
Colin’s practice includes advising clients with respect to the formation of, investments
ML Capital has announced that it will be launching its third new fund in as many months, the Skyline UCITS Fund, on the MontLake UCITS Platform.
Subject to regulatory approval, the Skyline UCITS Fund will commence trading on August 1, 2011. The fund will operate a global long/short mandate with a particular focus on emerging markets. ML Capital expects this launch to be the largest to date on the MontLake UCITS platform, with in excess of USD25 million already committed by early stage investors.
The fund will be managed by Skyline Capital Management LLP, which boasts an award winning team
Broadridge Financial Solutions, Inc has appointed two new executives to expand and grow its business in line with industry demand. As financial services firms are increasingly looking for solutions which can streamline processing operations and offer faster routes to market, Broadridge has hired Simon Bennett as Managing Director, Sales, for Broadridge City Networks (BCN) and Robert Binney as a Senior Business Development Director to expand its European team and take advantage of new global market opportunities.
Bennett will focus on growing the business in EMEA, bringing the BCN product suite, which includes reconciliation and operational risk management solutions, to buy-
Institutional fund managers have undertaken a dramatic shift to direct hedge fund investing following the global financial crisis, according to a new survey from Citi Prime Finance.
The survey, “Global Pensions and Sovereign Wealth Funds Investment in Hedge Funds: The Growth and Impact of Direct Investing”, is based on in-depth qualitative interviews with nearly 60 major investors representing USD1.65 trillion in assets under management as well as hedge fund managers representing USD186 billion in assets under management, reveals that pensions and sovereign wealth funds have not only been increasing their hedge fund investment programs but are taking a more
Eurex Clearing is to launch a central counterparty (CCP) service for the securities lending market based on Eurex Clearing’s proven systems and industry leading risk management standards. The new service will cover European markets for loans in equities, ETFs and fixed income securities. The phased roll-out will commence in November 2011, the full scope will be available in the course of 2012.
The new CCP service for securities lending has been designed in close cooperation with key market participants. A core element of the concept is a specific member license for lending participants that enables beneficial owners to participate as
