Latest News
David Gray, Asia Pacific head of prime brokerage at UBS, has left the firm.
ALTIN, the USD270m multi-strategy fund of hedge funds achieved a very positive investment performance in 2010 of +12.47%, easily outperforming the funds of hedge funds index, HFRI FoF (+5.67%).
ALTIN continued with a strong start to 2011, up 2.48% in the first three months of 2011, compared to +0.89% in the YTD for the HFR FoF composite Index. ALTIN holds one of the world’s longest track records as an exchange-listed fund of hedge funds. It listed in Switzerland in 1996 and in London in 2001 and has an annualised return of +7.53% since inception in December 1996.
At the
The Securities and Exchange Commission has voted unanimously to propose rules further defining the terms “swap,” “security-based swap,” and “security-based swap agreement.” The Commission also proposed rules regarding “mixed swaps” and books and records for “security-based swap agreements.”
The rules were proposed jointly with the Commodity Futures Trading Commission (CFTC) and stem from the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“The proposed definitions balance several policy and legal issues in a way I believe is practical, takes into account the specific nature of derivatives contracts, and is consistent with existing securities regulations,” says SEC Chairman Mary L Schapiro
NYSE Euronext (NYX) has reported net income of USD155 million, or USD0.59 per diluted share for the first quarter of 2011, compared to net income of USD130 million, or USD0.50 per diluted share for the first quarter of 2010.
Results for the first quarter of 2011 and 2010 include USD21 million and USD13 million, respectively, of pre-tax merger expenses and exit costs. Merger expenses and exit costs in the first quarter of 2011 included USD15 million related to the proposed merger with Deutsche Boerse. Excluding the impact of these items, net income in the first quarter of 2011 was USD177 million,
The Alternative Investment Management Association (AIMA) has launched an initiative to engage with the Brazilian hedge fund industry and announced the appointment of a local representative, Michelle Noyes of BRZ Investimentos.


“The maturity and sophistication of the Brazilian hedge fund industry has been noted internationally, and what is clear is that there is not only an interest from the global industry – whether from managers, investors or service providers – in Brazil, but there is also an increasing desire from the Brazilian industry to engage and to think globally,” says Andrew Baker, AIMA’s CEO.


“As the global hedge fund industry
James Burron, FCSI, CAIA, has been appointed as Chief Operating Officer of AIMA Canada with effect from 1 May, 2011.

Burron will work closely with AIMA Canada’s Executive Committee and its membership on a broad range of association management and executive duties, including member liaison and communications, as well as focusing on broader policy and strategy objectives.
Gary Ostoich, Chair of AIMA Canada, says: "James Burron has a solid background of more than 15 years of international experience in the securities industry including a significant background in the alternative investment industry. Most recently, he has been involved in product origination
By Georges Boivin – Switzerland is the world’s second-largest market for funds of hedge funds after the US, and approximately five per cent of all assets under management are invested in hedge funds, including USD200bn in funds of hedge funds, while the country accounts for around a third of total global assets invested in funds of funds. That means that for the hedge fund services sector, the market offers great growth potential – but maintaining a close relationship with fund manager clients is more important than ever before.
Despite the difficulties in the sector a few years ago, the appetite
By Michael Appenzeller – Over the past two years Switzerland has been a focus for hedge fund managers re-examining the location of their business and operations. The country is now among the most attractive jurisdictions in Europe to establish some if not all of the hedge fund value chain, because of not only tax advantages but an entrepreneurial culture rooted in its history as a global financial hub.
Switzerland differs from most offshore financial centres through its strong institutional asset management culture, centred on the Zürich area and clusters such as Zug and Pfäffikon, encompassing pension funds, asset managers and
Don Steinbrugge (pictured), Chairman of Agecroft Partners, looks at how endowments and foundations are rediscovering their appetite for hedge fund allocations…
Large Endowments and Foundations were early adopters of hedge funds in their portfolios with many allocating approximately 50% of their asset allocation. However, in the two years following the financial markets meltdown, these same investors stayed primarily on the sidelines for new hedge fund allocations. Over the past six months, Agecroft Partners has seen a significant increase in the search activity for endowments and foundations and expects this trend to continue for the foreseeable future. In addition, Agecroft also
Deloitte has appointed Bob Contri as leader of its financial services industry group in the United States. Contri currently serves as Deloitte’s leader to the banking and securities sector.
Contri succeeds Jim Reichbach, who held the role for the last three years. Reichbach will now serve as senior leader to several of Deloitte’s most important financial services clients and as leader of Deloitte’s global banking and securities practice.
“We are in a unique time, as the strategies that financial institutions undertake today will determine who the leaders are tomorrow,” says Contri. “Whether it is regulatory reform, sweeping changes to the
