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The Australian Securities and Investments Commission has released a consultation paper that outlines proposals to improve disclosure requirements for retail investors who invest in hedge funds.
Consultation Paper 147 Hedge funds: Improving Disclosure for retail investors (CP 147) seeks feedback on enhancements aimed at ensuring retail investors and their advisers have the information they need to make an informed investment decision about the risks posed by hedge funds.
ASIC Commissioner, Greg Medcraft says: ‘Hedge funds, because of their diverse investment strategies, complex structures and use of leverage, short selling and derivatives can pose more diverse and complex risks for
Oak Hill Advisors has appointed Chris Cereghino as Managing Director in the firm’s client coverage team. Cereghino is based in New York and, along with a team of other professionals, is responsible for business development and relationship management.
Cereghino’s arrival will help to broaden and enhance Oak Hill Advisors’ existing relationships with investors globally. The firm raised over USD4 billion of net new capital since January 2008 for investing in distressed and performing opportunities in both Europe and the US.
Bill Bohnsack (pictured), Senior Partner of Oak Hill Advisors, says: “We are delighted to have Chris join our team
The Depository Trust & Clearing Corporation (DTCC) has appointed Reena Walia as managing director of Equities Risk Management in its Enterprise Risk Management (ERM) Group.
In her new position, Walia will lead a team charged with assessing risk management across its National Securities Clearing Corporation (NSCC), Depository Trust Company (DTC) and EuroCCP subsidiaries and will provide oversight of current and potential risks that impact the company. She will be responsible for designing and managing the extensive technology initiatives that support risk management in those areas.
Walia will also be responsible for ensuring all of ERM’s equities-related policies and processes are
Hedge funds enjoyed a slightly positive January, but trailed most stock-market indexes, according to figures released by Morningstar. The Morningstar 1000 Hedge Fund Index and the currency hedged Morningstar MSCI Hedge Fund Index rose 0.4% and 0.2%, respectively. Meanwhile, the S&P 500 and MSCI World Indexes were both up more than 2%.
"Many hedge funds posted strong performance in January, but losses in global-macro and trend-following strategies overshadowed any overall gains in the industry," says Nadia Papagiannis, alternative investment strategist for Morningstar.
Funds in Morningstar’s Global Trend Hedge Fund Index, which trade futures primarily according to momentum strategies, suffered losses
The London Metal Exchange (LME) announces that the first twelve months of trading in cobalt and molybdenum has concluded with good volumes since the launch on February 22nd 2010.
Cobalt trading has performed particularly well, with 7,825 tonnes traded during the year to February 21st. Molybdenum trading was 3,498 tonnes during the same period.
Cobalt traded in a USD35,000 – USD48,000 per tonne range during the year with moly in a USD30,000 – USD40,000 range, indicating a total trading value on the exchange of over USD430 million.
Warehousing in both metals was dominated by Rotterdam while Singapore and
The Board of Directors of the National Futures Association (NFA) has elected W Robert Felker, Chairman of JPMorgan Futures Inc, to serve another one-year term as Chairman and Christopher K. Hehmeyer, Non-Executive Chairman at Penson GHCO, to serve as Vice-Chairman.
In addition, the Board elected the following individuals to serve two-year terms as public directors: William N. Goetzmann, Edwin J. Beinecke Professor of Finance and Management Studies and Director, International Center for Finance, Yale School of Management; Silas Keehn (incumbent), Past President, Federal Reserve Bank of Chicago; Jim Marshall, Visiting Professor of Public and International Affairs, Princeton University; Charles P
The Collingwood Group has appointed Mark DeGennaro as Managing Director to help build the firm’s hedge fund/private equity advisory and principal investment businesses.
Prior to joining Collingwood, DeGennaro was a Managing Director of a privately held boutique investment-banking firm based in New York, where he held a variety of positions both on the investment banking side and in executive management, including Managing Partner, Chief Operating Officer and head of the firm’s Restructuring Advisory Group.
Earlier in his career, DeGennaro was an attorney with White & Case in New York where he worked on commercial litigation, corporate control, mergers and
Eze Castle Integration has teamed up with data centre and managed services provider QTS (Quality Technology Services) to expand its greater New York/New Jersey infrastructure footprint, providing clients with proximity to exchanges and other financial networks, as well as strong carrier-neutral connectivity.
“The growing demand for Eze Castle Integration’s co-location, cloud computing and hosting services is the driving force behind expanding our data centre footprint in the New York area. Our hedge fund and investment firm clients require high-quality colocation space that is in close proximity to the New York financial district,” says Bob Guilbert (pictured), managing director, Eze Castle
Stephen Darling is joining CIBC on 1 March as Managing Director with the firm’s currencies team in London.
Darling has 19 years of foreign exchange trading experience with the London operations of the Royal Bank of Canada where he held senior roles in FX. His depth of expertise will further raise CIBC’s profile among European clients and strengthen the firm’s execution capabilities for the North American and Asian client base.
Darling will report jointly to Duncan Rule, Managing Director and Head, Foreign Exchange Trading, and Karl Wildi, Managing Director and Head,
Capital Markets.
LCH.Clearnet Ltd is to launch its SwapClear Futures Commission Merchant (FCM) service for US clients on March 8, 2011, as all regulatory requirements are now complete.
LCH.Clearnet has been a CFTC registered Derivatives Clearing Organisation clearing OTC interest rate swaps (IRS) since 2001 and, in 2010, cleared over 120,000 trades involving US counterparties, with a notional value of over USD64 trillion.
US customers will access LCH.Clearnet’s SwapClear service through a US based FCM of their choice. This is an important milestone in SwapClear’s supporting compliance by US customers with the range of provisions foreseen within the terms of the Dodd-Frank
