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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 Thursday, 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 Hedgeweek USA
Responding to growing market demand for European domiciled investment fund products, and the emergence of Dublin as a centre for alternative investment products, DMS Management Ltd (DMS) has opened a new office in Dublin, Ireland.
Led by Irish resident principals Derek Delaney and Don Ebanks, and leveraging DMS’ global fund governance platform, DMS Ireland is ideally positioned to help fund sponsors grow their asset management businesses by establishing UCITS, QIFs, SPVs and other European products to attract European and other international investor clientele.
As residents of Ireland, Delaney and Ebanks are able to serve as directors to a wide range
Wealth manager and ETF specialist SCM Private has marked its two year anniversary with the launch of the SCM Private Bond Reserve Portfolio and fee reductions that continue its philosophy of putting investors first.
The SCM Private Bond Reserve Portfolio will invest primarily in cash, corporate bonds and emerging market debt, through ETFs, and offer investors a number of advantages over traditional bond funds, including low annual management fees of just 0.3%+ VAT through an IFA, and 0.5% + VAT for direct clients, as well as a solid yield potential with the underlying average flat yield of the bonds currently
New hedge fund launches continued to rise in the first quarter of 2011, with both the 1Q and trailing four quarter launch totals reaching their highest levels since 2007, according to data released today by HFR, which has just released its latest Market Microstructure hedge fund industry report.
Nearly 300 hedge funds (298) launched in 1Q11, a launch rate of 3.3%, as total industry assets exceeded USD2 Trillion for the first time in history. Liquidations also rose to the highest level in 12 months with 181 funds closing, an attrition rate of nearly 2 per cent for 1Q. A total
The US Commodity Futures Trading Commission (CFTC) has charged Victor Eugene Cilli and his company, Progressive Investment Funds LLC (Progressive), both of Hackensack, NJ, with operating a commodity pool Ponzi scheme that defrauded at least four investors of approximately USD506,000.
Cilli also is charged with misappropriating at least USD200,000 of pool funds to pay personal expenses, including meals, entertainment, motorcycle payments and hair salon visits. Progressive is a CFTC-registered Commodity Pool Operator, and Cilli is registered as an Associated Person of Progressive.
According to the complaint filed on June 15, 2011, in the US District Court for the District of
May was undoubtedly a difficult month on global equity and commodity markets, and Australia’s were no exception. The ASX 200 lost over 2.3% having been down over 5% at one stage, but in spite of this the Absolute Return and Hedge Fund sector continued to protect investors’ capital. With 60% of results received to date the average fund, whilst negative, has outperformed the local equity market by close to 2%, and the S&P 500 by 1%.
The overall themes that emerged when looking at Managers’ May performance reports were ongoing concerns over the pace (or lack thereof) of the US
Vistra announced has been selected to provide fund administration services for the innovative Privium Selection Fund platform (SCA SICAV-SIF) via its specialist fund services division operating out of Luxembourg.
The Privium Selection Fund will be managed by Privium Fund Management (UK) Limited. The Privium platform proves a flexible one stop Luxembourg based solution for the launch of differing styles and sizes of funds, each backed by competitive pricing options.
Vistra Fund Services has worked closely with Clayton Heijman of Darwin Platform and Loyens & Loeff, Luxembourg on the set up and marketing of the specialised platform. Ivo Hemelraad (pictured, Managing
NYSE Euronext has appointed Finbarr Hutcheson as Executive Vice President Global OTC Services. Hutcheson takes up his appointment on 1 July and will work closely with market users to develop new services to support the global over-the-counter (OTC) markets in response to regulatory reform and the industry’s ongoing efforts to improve market structures.
Hutcheson will be based in London and report directly to Duncan Niederauer, Chief Executive Officer of NYSE Euronext.
Duncan Niederauer says: “I am delighted that Finbarr has joined NYSE Euronext at a time when the OTC markets face unprecedented change and when NYSE Euronext continues to pursue
The Honorable Judge John Antoon II of the U.S. District Court for the Middle District of Florida has ordered Capital Blu Management, LLC (Capital Blu) of Melbourne, Fla., Donovan Davis Jr. of Palm Bay, Fla., Damien Bromfield of Ocoee, Fla., Blayne Davis of Naples, Fla., and DD International Holdings, LLC (DDIH) of Palm Bay, Fla., jointly and severally to pay restitution of USD2,463,592.12. Judge Antoon ordered Bromfield and Blayne Davis each to pay a civil monetary penalty of USD4,927,184.24 and ordered Donovan Davis Jr. and DDIH jointly and severally to pay a civil monetary penalty of the same amount.
The
After China, Korea raised interest rates for the third time this year from 3% to 3.25% to rein in inflation. Slowing U.S. economic recovery and inflationary concerns have kept the Asian markets on back foot during the last week. Japan (Nikkei 225) was the only market which recorded a gain (+0.23%), while Korea (KOSPI2) declined by 3.51%, China (CSI 300) retreated by 0.82%, Hong Kong (HSI) decreased by 2.31%, Singapore (FSSTI) sank by 2.14% and Australia (S&P/ASX 200) slipped by 0.46%.
Last week, one more ETP provider Lion Fund Management Company Ltd entered the Asian ETP market with the launch
