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JP Morgan Securities LLC is to pay USD153.6 million to settle SEC charges that it misled investors in a complex mortgage securities transaction just as the housing market was starting to plummet. Under the settlement, harmed investors will receive all of their money back.
In settling the SEC’s fraud charges against the firm, JP Morgan also agreed to improve the way it reviews and approves mortgage securities transactions.
The SEC alleges that JP Morgan structured and marketed a synthetic collateralized debt obligation (CDO) without informing investors that a hedge fund helped select the assets in the CDO portfolio and had
JP Morgan has launched a full prime brokerage offering for clients in Europe, the Middle East and Africa. The investment bank now has the local infrastructure in place to serve international and regional clients across the entire spectrum of both cash and synthetic products for the first time.
The build-out of the European platform reflects the firm’s wider strategy to invest in Prime Services and offer a full suite of products for hedge fund clients globally.
“This is a key milestone for our international business,” says Sandie O’Connor (pictured), Global head of Prime Services at JP Morgan. “These local capabilities
Morningstar, Inc has begun to calculate estimated returns for hedge funds based on publicly available filings. The company has estimated quarterly returns for approximately 1,700 hedge funds, including some of the largest and most prominent in the industry.
Although hedge funds do not have to publicly file disclosures, many entities that hold hedge funds, like registered funds of hedge funds, do. Morningstar culls information from these funds of funds using two types of filings to estimate returns—portfolio holdings disclosures and financial statements. From these filings, Morningstar collects the beginning market value of an individual hedge fund holding in a fund
As of the end of May 2011, the total volume of assets in the investment funds covered by the statistics compiled by Swiss Fund Data AG and Lipper stood at CHF 653.6 billion, with Swiss funds for institutional investors accounting for some CHF 231.2 billion of this figure.
Due to the falling prices on the markets, assets under management depreciated in all asset classes in the month under review, dropping a total of CHF 11.8 billion month-on-month. Despite the gloomier outlooks, the Swiss fund market enjoyed net inflows totalling some CHF 876.2 million.
What was striking last month was the
Religare Global Asset Management (RGAM), a wholly owned subsidiary and the multi-boutique asset management arm of integrated financial services group, Religare Enterprises Limited, has appointed Alan Berkshire as President – North America.


RGAM’s strategy is to acquire equity stakes in top-tier asset management firms around the world with proven performance and capabilities in traditional as well as alternative asset classes. RGAM aims to facilitate the growth of its affiliates by providing wider sales and distribution support and facilitating access to capital and deal flow in countries where Religare’s broader financial services platform has a presence, while leaving the existing management
The GlobeOp Forward Redemption Indicator for June 2011 recorded a modest increase to 4.01%, up from 3.92% in May but lower than the 4.39% of a year ago.
“July is typically a heavy redemption month,” says Hans Hufschmid, chief executive officer, GlobeOp Financial Services (LSE:GO.). “This June’s Forward Indicator shows that July redemptions are the lowest they’ve been in the past four years.”
The Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by GlobeOp, divided by the AuA at the beginning of the month for GlobeOp fund administration clients. Forward redemptions as a
Pershing LLC, a BNY Mellon company, has added more than 20 new providers to its ValueAlliance program. ValueAlliance offers Pershing’s introducing broker-dealer, independent registered investment advisor (RIA) and hedge fund customers preferred pricing and access to solutions from a network of third-party firms and consultants.
ValueAlliance program providers represent a broad range of services and solutions to address firm challenges pertaining to human capital, long-term succession planning, marketing, compliance, insurance services, finance and mergers and acquisitions.
"The ValueAlliance program complements Pershing’s practice management program, and this expanded network of providers enhances our customers’ access to solutions, tools and resources that
Kinetic Partners, a global professional services firm to the asset management, investment banking and brokerage community, today announced that it has been named Best Regulatory Advisory firm in the US by readers of Hedgeweek, a leading online publication for hedge fund managers and institutional investors.
Recognition for excellence in this area comes during a year of rapid expansion in Kinetic Partners’ US Regulation and Compliance practice. Growth has largely been spawned by new regulatory requirements placed on hedge fund managers under the Dodd-Frank Act signed into law in June 2010.
The Hedgeweek USA Awards 2011 covered 25 categories and were
Eze Castle Integratio has been awarded the "Best Managed Account Platform Technology" designation in the Hedgeweek USA 2011 awards and named to the CRN 2011 VAR500 list. Both honours highlight the company’s consistent focus on providing quality technology solutions and customer service to the investment management industry.
CRN’s VAR500 list ranks the top technology solution providers in North America by revenue. Eze Castle placed No256 in the 17th annual ranking, moving up 95 spots from the 2010 VAR500 list ranking of No351. Eze Castle has been consistently ranked on this list since 2006 for its dedication to quality technology services
Northern Trust has enhanced its Hedge Fund Monitor product with a series of new features designed to improve automation and straight-through processing, enabling Northern Trust’s Funds of Hedge Funds (FoHF) clients across the globe to access performance, liquidity and compliance data throughout the day.
Automation updates to Northern Trust’s Hedge Fund Monitor product enable Northern Trust clients to now enter multiple trades on a single screen, including multiple trades on a single portfolio and, significantly, to instruct a single trade and allocate it across multiple portfolios.
Subject to terms and conditions, this allows a client to switch hedge fund investments
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