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Independent global fund administration busines Apex Fund Services, has opened a Cayman Islands office.
The opening of the Cayman Islands office is part of Apex’s strategy of giving fund managers access to all of the world’s financial centers and providing the full suite of Apex’s fund administration services via its network of global offices, including Apex’s ground breaking real time middle office service (MOOR) and range of fund platforms.
Apex has been granted a Companies Management Licence by the Cayman Islands Monetary Authority and the Company now provides the following services: independent directors, local directors, Apex directors, corporate secretarial
International derivatives exchange Eurex’s Euro-BTP Futures product suite had a very successful start into 2011. The futures are based on notional long and short-term debt instruments issued by the Republic of Italy (Buoni del Tesoro Poliennali, or BTP).
The average daily volume (ADV) for the long-term Euro-BTP contract (FBTP) in January 2011 has grown about 25 per cent year-on-year (y-o-y), totalling 6,800 contracts. The ADV of the Short-term Euro-BTP futures was 2,400 in January and continues to rise. Both contracts also had daily record volumes due to Ireland’s credit downgrade, with the Euro-BTP future at 18,289 contracts on 2 February
STOXX Limited has introduced the STOXX Global Index family, more than 1,200 indices covering the global equity markets. Effective Monday 21 February, a new index classification system will also be used to further define the different levels of index services offered by STOXX.
STOXX has also introduced a new corporate design that visually reinforces these changes and reflects the firm’s prominence as a leading global index provider.
"The launch of the STOXX Global Index family and new corporate design marks the next era for STOXX as we continue expanding our global business. The differentiating factor in our new global
Securis Investment Partners is planning to list a new closed ended investment company, Securis Income Fund Limited, on the London Stock Exchange. Securis Income Fund Limited will be a feeder fund of Securis I Master Fund, which invests in assets carrying exposure to insurance and reinsurance risk.
Securis Income Fund Limited (the company) will be a closed-ended, Guernsey-incorporated investment company, with a premium listing on the Main Market of the London Stock Exchange. The company will seek to deliver a target total return of 12% net per annum from which it intends to pay a 6% annual gross dividend (payable
Highly experienced lawyer Bruce Scott (pictured) has been appointed a partner of Bedell Cristin and will head the Jersey legal services team based in the City of London. – which is growing in response to client demand for City-based Jersey law expertise.
Scott will lead a team of specialist lawyers covering all the principal financial services areas – providing the ready-access Jersey law practice the firm’s clients and intermediaries need in the heart of the City.
Immediately before joining Bedell Cristin, he spent five years with another Jersey law firm, Ogier. As well as his offshore pedigree he also brings
The recently announced acquisition of Butterfield Fulcrum (BFGL) underscores the continued interest that private equity funds have in fund service providers.
With over 200 fund administrators operating globally, the industry provides many opportunities for private equity investors. However, both private equity firms and funds in the process of selecting an administrator need to understand some of the potential minefields administrator firms are facing during the next stage of growth in alternative investing.
The Butterfield Fulcrum acquisition partnered firm executives (Glenn Henderson and Tim Calvey) with USD2.6bn private equity firm BV Investment Partners. According to the firm assets under
Most classical hedge fund strategies are in large demand in a UCITS format, according to ML Capital Asset Management, the investment manager and promoter of the MontLake UCITS platform.
The MLC Alternative UCITS Barometer, a tool that surveys active investors currently allocating to UCITS about their forthcoming strategy allocations, revealed that most of the primary “UCITS-able” hedge fund strategies are to see large inflows in the coming months.
Global Macro Discretionary strategies are expected to experience the largest inflows of capital in the coming months, with 59 per cent of respondents planning to increase their exposure to the asset class.
The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing the assets of defendant Larry Benny Groover of Gunter, Texas, charged with operating a USD1.4 million foreign currency (forex) Ponzi scheme and misappropriating customer funds for his personal use. Groover has never been registered with the CFTC.
The order, entered on February 11, 2011, by Judge Richard Schell of the US District Court for the Eastern District of Texas, also prohibits the destruction of books and records and requires Groover to account for assets. The court scheduled a hearing on the CFTC’s motion for a preliminary
Emerging markets hedge funds posted industry-leading gains in 2010, led by funds with regional exposure to Russia and the Middle East, according to Hedge Fund Research, Inc (HFR).
As a direct result of these gains, assets invested in emerging market (EM) hedge funds increased by nearly USD10 billion in the fourth quarter to end the year at more than USD114 billion, approaching the record level of AUM for EM hedge funds set in 2007.
The HFRI Emerging Markets (Total) Index gained 11.79 per cent for 2010, topping the gain of 10.30 per cent for the HFRI Fund Weighted Composite
100 Women in Hedge Funds (100WHF) is to offer 10 Chartered Alternative Investment Analyst (CAIA) scholarships each year for the next five years through their newly formed 100 Women in Hedge Funds Institute.
These scholarships will be sponsored by Pacific Alternative Asset Management Company, LLC (PAAMCO) and are the inaugural educational scholarships for the Institute, which was created to provide 100WHF members with unique educational opportunities and scholarships. Recipients who complete the program will earn their CAIA designation: the only professional designation focused exclusively on alternative investments.
The globally recognised CAIA designation demonstrates mastery of alternative investment concepts, tools, and
