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The Bermuda Monetary Authority (Regulatory Fees) Amendment Act 2010, which includes changes to the Investment Funds Act 2006, as amended, is now in effect.
In addition to increases in annual business fees for funds and fund administrators under the Act, there are additions to the scope of transaction-based fees. The date and manner in which fees are to be paid under the Act have also been amended and new provisions included to introduce late penalty fees and to allow the Authority to recover any fee or penalty as a civil debt.
As of 1 January, 2011 annual fees
The RBC Hedge 250 Index had an estimated net return of 2.25 per cent in December 2010, bringing the year-to-date return of the Index to 6.42 per cent. These returns will be finalised by the middle of next month, while the return for November 2010 has been finalised at 0.27 per cent.
The RBC Hedge 250 Index is a non-investable benchmark of the performance of the hedge fund industry. The Index operates in accordance with a unique construction methodology. The Universe on which the Index is based currently consists of 3,857 hedge funds (excludes funds of hedge funds) with aggregate assets under management of USD955 billion.
RBC Dexia Investor Services has appointed Sébastien Danloy as Managing Director for Luxembourg. This appointment will be effective on 2 May, 2011 and is subject to regulatory approval.
As a leading fund distribution centre, Luxembourg is central to RBC Dexia’s success in Europe. In his role as Managing Director, Luxembourg, Danloy will be responsible for building the business by focusing on market strategy, strategic client management and effective engagement with local industry, government and regulatory bodies. Danloy will report functionally to Tony Johnson, Global Head, Sales & Distribution.
“Our Luxembourg operations are central to the promotion of our
The top executives at the ten biggest banks and asset managers on Wall Street – including Lloyd Blankfein of Goldman Sachs, Larry Fink of BlackRock and Jamie Dimon of JP Morgan – have an average net worth of USD210 million, according to wealth intelligence firm Wealth-X.
The firm’s analysis of the fortunes of the Wall Street’s wealthiest executives found that their combined net worth is at least USD2.1 billion when accounting for shares and options in their publicly-trade banks, residential and commercial property, art collections, cash and other investible assets. These ultra high net worth individuals (UHNW) have an average
Advanced Fund Administration (AFA), a leading provider of fund administration services to alternative investment managers, is looking to enhance its service offering by teaming up with NewOak Solutions LLC.


NewOak, a provider of valuation, analytics and technology to the structured credit and fixed income markets, will provide periodic valuations and a suite of analytical reporting that will be incorporated into AFA’s service offering to its clients. In addition, NewOak and AFA will jointly develop additional solutions supporting the investment process for managers of complex and illiquid strategies.
"The fund administration landscape has changed quite dramatically and our clients are increasingly
Since being launched last August, FundLogic Alternatives plc, the dedicated UCITS III-compliant hedge fund platform run by Morgan Stanley in parallel with its Fund
Old Broad Street Research (OBSR), a City-based privately incorporated investment and product research specialist, has awarded an ‘A’ rating to the GLG European
Swiss & Global Asset Management, a division of GAM Holding AG that formed out of Julius Baer Asset Management in October ’09 (and now the exclusive provi
There was a sharp rebound in net asset inflows for UCITS in November, EFAMA revealed in their latest industry report this week.
Daiwa Europe Fund Managers Ireland Ltd (Daiwa) has received authorisation to service global fund managers and promoters that are thinking about launching Dublin-domiciled UCITS pro
