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RAB Capital has launched two new UCITS III funds – the RAB Global Mining and Resources UCITS Fund and the RAB Gold and Precious Equities UCITS Fund. The funds will commence trading on 11 April 2011 with an initial size of USD100m across the two strategies: approximately USD70m (Global Mining and Resources) and USD30m (Gold and Precious Equities).
The RAB Global Mining and Resources fund will be launched with daily liquidity. It will follow the investment strategy of the Cayman-based RAB Global Mining and Resources Fund which has significantly outperformed mining indices since inception in November 2007. It will
A new pan-Channel Island law firm, Collas Crill, opened its doors this week following the merger of Jersey firm Crill Canavan and Guernsey’s Collas Day.
The merger creates a new 16-partner, full service Channel Island firm with around 150 staff.
With both firms already among the world’s top 20 offshore legal practices, Collas Crill becomes the leading Channel Island ’silver circle’ firm.
Collas Crill’s joint senior partners are Nuno Santos-Costa (pictured) in Jersey and Chris Bound in Guernsey.
Nuno Santos-Costa says: “We are delighted that Collas Crill has launched just four months after both firms agreed to merge.
“The creation
Active Alpha, the Switzerland-based trading-oriented equity long/short manager, has successfully continued delivering strong and uncorrelated performance since going independent six months ago.
“The rationale behind Active Alpha becoming an independent boutique was convincing in many ways, but most importantly, it allows us to be entirely focused on investment performance and fully align our interests with those of our investors. Recent research confirms our notion that being a smaller and very nimble investment manager is a characteristic that is increasingly sought after by many hedge fund investors”, says Active Alpha Chairman and CEO Daniel Schweizer.
Starting its fund in 2008 within
Medley Capital has acquired credit hedge fund manager Viathon Capital LP effective March 31, 2011. Medley, a registered investment adviser with USD1.4 billion of assets under management in private investment funds, hedge funds and Medley Capital Corporation (NYSE: MCC), provides capital and advisory services to middle market corporate and asset based borrowers in North America.
Viathon, founded in 2006 by Robert Comizio, invests in fundamental and event driven opportunities across the credit spectrum. Predominantly focused on companies in North America and Europe, Viathon identifies both long and short investments throughout an issuer’s capital structure. Prior to founding Viathon, Comizio
NYSE Euronext (NYSE: NYX) has received an unsolicited proposal from Nasdaq OMX Group, Inc (Nasdaq: NDAQ) and IntercontinentalExchange Inc. (NYSE: ICE) to acquire all outstanding shares of NYSE Euronext for a combination of USD14.24 in cash, 0.4069 shares of Nasdaq stock and 0.1436 shares of ICE stock per NYSE Euronext share.
Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, NYSE Euronext’s Board will carefully review the proposal. NYSE Euronext urges shareholders not to take any action with respect to the proposal.
NYSE Euronext’s financial advisers are Perella Weinberg Partners, BNP Paribas, Goldman,
In March 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 11.8 million contracts (March 2010: 10.0 million). Of those, 8.7 million were Eurex Exchange contracts (March 2010: 7.1 million), and 3.1 million contracts (March 2010: 3.0 million) were traded at the US-based International Securities Exchange (ISE).
The significant growth of Eurex Exchange turnover is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty. In total, 199.1 million contracts were traded at Eurex Exchange and 70.5 million at the ISE.
James Senior has been appointed acting Head of Marketing at Ignis Asset Management. James will be ably supported by Graham Miller who has been promoted to the role of Deputy Head of Marketing. James and Graham have vast experience, having worked in senior financial services marketing roles for in excess of 20 years and 10 years respectively.
Ignis has made a series of significant appointments over the past two years and has implemented a clear and focused strategy to establish the business as a leading asset management business.
Jonathan Polin (pictured), sales and marketing director, says: “I am delighted that
Fitch Ratings says in a new hedge fund sector update that stronger flows to hedge fund and absolute return strategies in 2010 should increase during 2011, as institutional investors seek diversifying sources of performance and downside risk protection.
In Fitch’s view, this post-crisis change is structural, partly driven by regulation changes which push institutional investors to take active risk while satisfying regulatory de-risking of their balance sheet, and by the general perception of market asymmetry (little to gain, more to lose).
Fitch considers that hedge funds and most absolute return strategies served their purpose in 2010 and Q4 2010
Statistics and anecdotal evidence from the first months of 2011 suggest that a significant upturn is underway in primary private equity fundraising, and offshore jurisdictions are set to benefit from the trend, according to Philip Millward (pictured) and Julian Ashworth, a partner and senior counsel respectively with Walkers’ private equity group in the Cayman Islands.
Anecdotal evidence and attorneys’ workloads during the first quarter, along with successful closings for some of the industry’s leading names, suggest cause for cautious optimism in the primary private equity fundraising market this year.
The key indicators are positive and supported by renewed enthusiasm for,
In today’s regular Supervisory Board meeting of the European Energy Exchange AG (EEX), board members unanimously approved the transfer of all shares in EEX previously held by Landesbank Baden-Württemberg (LBBW), totaling 22.96 percent.
After meeting all of the terms set out by the agreement concluded between the two EEX shareholders, Eurex Zürich AG (Eurex) and LBBW at the end of December 2010, Eurex will acquire the majority of LBBW’s shares.
In accordance with the consortium agreement and the contractually agreed upon rights of tender contained therein, LBBW was obligated to offer its shares on a pro rata basis to
