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MCAM Group, a leading provider of marketing solutions for the alternative investment industry has entered into an agreement with Asian distressed and special situations fund manager Myo Capital Advisers to manage Myo’s international marketing, sales and public relations efforts.
Myo Capital is a Hong Kong-based fund manager that specialises in investments in Asian distressed and special situations opportunities, and was founded in 2007 by ex-ADM Capital director Justin Ferrier. The firm has received a commitment of up to USD150 million from Singapore-based DBS Asset Management for the Myo Capital Special Situations Fund I, a private equity fund with a three-year
Credit Suisse is to outsource the administration of its Guernsey-domiciled funds of hedge funds managed internationally by Credit Suisse Asset Managers, which were previously serviced in-house.
The business will be moved to the new provider over the next six months. Credit Suisse will not disclose the name of the third-part administrator, nor the volume of assets involved, but says the new service provider is “one of the biggest fund of funds administrators globally”.
A spokeswoman for Credit Suisse says: “The outsourcing of our fund of funds administration business in Guernsey involves devolving a non-core administrative function, which is in
Hedge funds gained 1.18% in February according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 1.65% year-to-date.
“In the face of Mideast political turmoil and rising commodity prices, the rally in developed market equity prices extended to a sixth consecutive month,” says Sol Waksman, founder and president of BarclayHedge. “Hedge funds have been able to take advantage of the favourable trading environment as evidenced by a gain of 11.1 percent in the Barclay Hedge Fund Index over the past six months.”
Overall, 16 of Barclay’s 18 hedge fund indices had positive returns in February. The
Pillsbury’s Investment Fund and Investment Management group recently submitted comment letters to the California Corporations Commissioner (the Commissioner) and the North American Securities Administrator’s Association (NASAA) on behalf of the private investment fund industry.
Specifically, the letter to the Commissioner was intended to seek clarification regarding the application of California’s securities license requirements for investment adviser representatives (IARs) of SEC-registered investment advisers and the letter to the NASAA was intended to provide comments regarding the proposed model custody rule of the NASAA that was released on February 17, 2011.
In its letter to the Commissioner, Pillsbury sought clarification regarding the
The US Commodity Futures Trading Commission (CFTC) has obtained a federal default judgment order requiring defendants Dennis Todd Hagemann and his company, Yellowstone Partners, Inc (Yellowstone), both of Raleigh, NC, to pay more than USD1.6 million in restitution and civil monetary penalties for defrauding investors in a foreign currency (forex) Ponzi scheme.
The order, entered by Chief US District Judge Louise W. Flanagan of the US District Court for the Eastern District of North Carolina, requires Hagemann and Yellowstone jointly and severally to pay restitution of USD827,779 and a civil monetary penalty of USD827,779. The order also permanently prohibits defendants
Quintillion fund administration is providing administration services to the Cayuga Global Macro Fund, an Investment Fund managed by Cayuga Capital Partners LLP.
Rowan Levy, Chief Operating Officer with Cayuga Capital Partners LLP, says: “Quintillion stood out for us on a number of fronts. Through the pre-selection, selection and on-boarding process they distinguished themselves as a high quality offering with a clear understanding of what was required, when and how. Throughout we have found the team pro-active and professional. We look forward to growing with them for many years to come.”
Ken Somerville, Head of Business Development at Quintillion,
Described as a “first of its kind” according to Citywire Global, Highbridge Capital Management this week announced the launch of a UCITS III-compli
Natixis Global Asset Management subsidiary Loomis Sayles & Company, headquartered in Boston Massachusetts, has launched an absolute return fund to cater for investor demand for UK and Eu
International law firm Dechert LLP’s Financial Services Group published its latest DechertOnPoint report this week on current European regulatory developments.
London-based Dalton Strategic Partnership, whose Cayman Island-domiciled Melchior European Fund won best equity l/s manager at last month’s Hedgeweek Awards 2011, has seen assets in it
