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NYSE Euronext’s Board of Directors, consistent with its fiduciary duties and advised by its independent financial and legal advisors, has unanimously reaffirmed the previously announced combination agreement with Deutsche Boerse AG (XETRA:DB1) and rejected the unsolicited and highly conditional proposal by NASDAQ OMX Group, Inc (Nasdaq: NDAQ) and InterContinental Exchange, Inc (NYSE: ICE) to break up NYSE Euronext.
The NYSE Euronext/Deutsche Boerse combination is consistent with the long-term strategy adopted by the NYSE Euronext Board of Directors in 2009, a strategy that the company has regularly reaffirmed and been successfully executing. The combination with Deutsche Boerse will position the combined company
Quintillion has been chosen to provide administration services to the Investment Funds managed by Insparo Asset Management Limited (Insparo).
Based in London, Insparo’s flagship Africa and Middle East Fund has returned 33% since launching in June 08. A second fund, focusing on African equities, was launched to investors in February. Insparo’s investment philosophy seeks to identify deep value opportunities through an emphasis on in-depth analysis at both the macro and micro levels, and aims to provide investors with superior returns and limited volatility.
Quintillion now provides both Insparo funds with a complete range of administration services, including NAV calculation,
Impact Investments Partners AG, the parent company of Blue Diamond Asset Management AG, has hired Tobias Mueller as Head of European Business Development.
Mueller is based in Wollerau, Switzerland and joins from Grantham, Mayo & Van Otterloo (GMO) where he was responsible for business development and client relations activities in Switzerland. Prior to that, he worked for UBS AG in Group Internal Audit. Mueller earned his MSc in Business and Economics from the University of Bern, Switzerland, and is a CFA charterholder.
Impact Investment Partners provides marketing, operations, IT support and other critical non-investment functions to its wholly-owned asset management
Highbridge Capital Management has appointed Todd Builione, the firm’s Chief Operating Officer, as President and Chief Operating Officer. Builione joined Highbridge in 2005 as the firm’s first Head of Corporate Strategy and was promoted in 2009 to Chief Operating Officer.
As President and COO, Mr. Builione will continue to drive the development of new investment strategies and key strategic initiatives, serve as a face of the firm to its clients and counterparties, and lead Highbridge’s institutional quality organisational infrastructure. In addition to the role of President, a new position at Highbridge, Builione is a member of the Highbridge Board of
The Commodity Futures Trading Commission and the Securities and Exchange Commission (Commissions) have delivered to Congress a joint staff study on “the feasibility of requiring the derivatives industry to adopt standardised computer-readable algorithmic descriptions that may be used to describe complex and standardised financial derivatives” (see Title VII, Sec. 719(b) of Dodd-Frank).
Based on the public input, staff investigation and analysis, the joint study concludes that current technology is capable of representing derivatives using a common set of computer-readable descriptions. These descriptions are precise enough to be used both for the calculation of net exposures and to serve as part
The Lyxor Global Hedge Fund Index, an investable index based on Lyxor’s hedge funds platform which tracks the overall hedge fund universe, lost 0.3% in March.
The Middle East/North Africa turmoil captured the attention of most market participants during the early part of March 2010, but the impact on asset prices was concentrated on commodities. US equities rallied modestly, European equities fell slightly, and credit markets were somewhat range-bound. Crude oil spiked sharply on supply disruption concerns, and some metals fell sharply due to prospective knock-on effects of high oil slowing the recovery. Alternative strategies posted generally modest gains or
By James Williams – As the US and Europe prepare to impose regulatory shackles on hedge fund managers in response to the financial meltdown of 2008, Singapore has, for many, emerged as a pillar of pragmatism with no knee-jerk reactions, just a sensible, measured approach.
Admittedly, there was some initial confusion as its regulatory body, the Monetary Authority of Singapore (MAS) deliberated over what to do, canvassing public opinion on how best to move forward. This resulted in some funds upping sticks and setting up shop in Hong Kong instead. Consequently, start-up numbers fell some 13 per cent in 2009.
The Australian Treasurer has made a statement has rejected the proposed merger of ASX and SGX. As a result, the parties have a greed to mutually terminate the Merger Implementation Agreement entered into on 25 October 2010.
In a statement SGX says: "Asia will remain the world’s growth engine in the coming decades. SGX, as the Asian Gateway, is well-positioned to leverage on opportunities within Asia’s vibrant and dynamic economies. As Asia’s most international exchange, we will continue to pursue organic as well as other strategic growth opportunities, including further dialogue with ASX on other forms of co-operation."
After two months of gains, albeit only 0.01 per cent in January, the UCITS Alternative Index Global recorded a loss of 0.18 per cent in March to leave it at 0.14 per cent for the year.
New York-based Ed Capital, an international investment advisory firm that specializes in Russian securities is planning to launch an alternative UCITS – Hudson River Russia Growth F
