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Hedge funds gained 0.35% in March according to the Barclay Hedge Fund Index compiled by BarclayHedge. Year-to-date, the Index is up 1.95%.
“The earthquake, tsunami and nuclear disaster in Japan, increasing turmoil in the Middle East, and the outlook for higher interest rates in the future helped to drive stock and bond prices lower in developed nations,” says Sol Waksman, founder and president of BarclayHedge. “In spite of these headwinds, hedge funds were able to eke out a small gain for the month.”
Eleven of Barclay’s 18 hedge fund indices were in positive territory in March. The Barclay Emerging Markets
Richmond Park Capital Holdings Limited, the holding company of Richmond Park Partners LLP, has finalised the acquisition of the Olympia Group, previously owned by Sagard Private Equity Partners and its other shareholders.
The transaction was approved by the AMF (Autorité des Marchés Financiers) and the FSA (Financial Services Authority).
This acquisition frees the Olympia Group of any previous debt.
Carne Global Financial Services has appointed Roisin Cater as an independent director for the boards of client funds in the Cayman Islands.
Cater is a highly experienced Cayman Islands lawyer with an extensive track record in the funds business, including with law firm Mourant, where she was Managing Partner, and the Cayman Islands Stock Exchange (CSX), where she worked as a Senior Listing Executive. She was appointed to the board of the CSX in 2007, and is also a member of the listing committee, reviewing and approving listing requests. She originally trained with Linklaters London.
John Donohoe, Chief Executive of
Alternative fund administrator HedgeServ has opened an office in Chicago. The new office will provide fund administration for hedge funds, funds of hedge funds and private equity funds.
Jerry Fuesel, who has 18 years of industry experience and joins HedgeServ from Amundi Alternative Investments Services.Managing Director, will lead a team of 22 professionals in Chicago. He was most recently a Managing Director of Amundi AI Services, Inc, the Global Head of Operations of Amundi AI and a Director of Amundi AI, Ltd.
"By establishing a presence in Chicago, we are better positioned to service our clients in one of the
Gottex Fund Management’s recovery continued in 2010 with the company’s asset base growing by USD1bn in the past nine months to reach USD8.5bn as of 28 February 2011, according to a statement to shareholders made today by Chairman and CEO Joachim Gottschalk.
"Our main market neutral product regained its high water mark and continued to outperform its benchmarks. GSS, our solutions business, quadrupled assets over the year and launched LUMA Solutions, the exciting joint venture with OFI Asset Management, at the end of last year. In addition, our public multi-asset funds, the Multi-Asset Endowment Fund and the Multi-Alternatives Fund, received
Singapore Exchange (SGX) has launched SGX Co-Location Service, offering the fastest connection to its markets.
SGX Data Centre, which officially opened on 11 April, serves as the launch pad for SGX Co-Location. By locating their systems at SGX Data Centre with SGX’s trading, market data and clearing engines, Co- Location customers will experience connectivity speeds of at least 250 times faster than conventional access methods in Singapore. SGX Co-Location service will be the connection of choice to SGX Reach, the world’s fastest trading engine which will start operating in August this year, offering response times of less than 90 microseconds.
The Dow Jones Credit Suisse Hedge Fund Index performance in March has been confirmed as +0.12%.
Oliver Schupp (pictured), President of Credit Suisse Index Co, LLC, says: "The Dow Jones Credit Suisse Hedge Fund Index finished relatively flat in March, gaining 0.12%; however, as evidenced by the daily performance of the newly launched Dow Jones Credit Suisse Core Hedge Fund Index, hedge funds fell approximately 1% mid-month before they rebounded to recover losses suffered following tsunami-related events in Japan.
"The addition of the Dow Jones Credit Suisse Core Hedge Fund Index enables investors to more accurately track the impact of
CMA Covered Bond Investor Council (CBIC), an industry body representing a diverse range of investors in the European covered bond market, and operating under the auspices of the International Capital Market Association, has launched an initiative aimed at setting transparency standards for covered bonds.
Covered bonds have become an increasingly important component in the funding of financial institutions in Europe, because they provide cost effective funding, with a low execution risk, long maturities, and help issuers and investors diversify their portfolios of liabilities and assets respectively. The structure and security of covered bonds have set this asset class apart and
The US Commodity Futures Trading Commission (CFTC) has charged Lyndon Lydell Parrilla and his company, Green Tree Capital, both of Woodland Hills, California, with operating a fraudulent multi-million dollar foreign exchange (forex) scheme since at least 2009.
The CFTC complaint was filed on April 12, 2011, in the US District Court for the District of Massachusetts. On April 13, 2011, Judge Joseph L Tauro entered an ex parte restraining order freezing the defendants’ assets and prohibiting the destruction or alteration of their books and records.
The complaint charges that Parrilla and Green Tree Capital, from approximately October 2009 to the
ESMA publishes today the final report on the guidelines on risk measurement and the calculation of the global exposure for certain types of structured UCITS (ESMA/2011/112). The report contains the policy approach agreed by ESMA, the cost-benefit analysis, the feedback from the public consultation and the draft guidelines in English to be addressed to competent authorities and UCITS management companies.
The final version of the guidelines (which will be unchanged) will be translated into all the European Union languages and will be available at a later stage on the ESMA website. The guidelines will take effect when this translation process
