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Institutional investors are bolstering their commitment to hedge funds, but expect greater transparency and solid risk management infrastructures from managers, according to an annual global study by SEI.
The report, released in collaboration with Greenwich Associates and entitled “Institutional Hedge Fund Investing Comes of Age: A New Perspective on the Road Ahead”, indicates a need for hedge fund managers to enhance their risk management infrastructure and risk reporting, and institutionalise transparency policies to attract new capital, satisfy anxious investors, and protect their reputations. The study also revealed the importance of fund managers clearly articulating how their investment strategies add
The International Monetary Fund (IMF) has published six evaluation reports which recognise and commend Guernsey’s high standards of financial regulation, supervision and stability along with its robust criminal justice framework.
The IMF’s last evaluation reports on Guernsey were published in November 2003. The IMF was invited to reassess Guernsey’s financial, regulatory and criminal justice structure and that also included examining financial stability elements of the banking and insurance sectors. These evaluations were carried out in March and May 2010.
The resulting reports commend Guernsey as having financial sector regulation and supervision of a high standard across all sectors, and a
The Luxembourg Stock Exchange listed a total of 1,220 new investment funds during 2010. The exchange improved its position overall in the listing of international securities during the year, admitting 9,350 new securities in all, a 20.85% increase compared with 7,737 in 2009.
For its two markets, the breakdown was as follows: 8,210 securities on the “Bourse de Luxembourg” regulated market, and 1,140 on the Euro MTF market. As well as the 1,220 investment funds, the exchange listed 5,608 bonds, 53 shares and depositary receipts, and 2,469 warrants.
As regards the share segment, the overwhelming majority of the listed instruments
The Lyxor Global Hedge Fund Index, an investable index based on Lyxor’s hedge funds platform which tracks the overall hedge fund universe, was up 5.8% in 2010. The index gained 2.3% in December.
Equity markets finished 2010 on a strong note, with the S&P 500 posting a total return of 6.7% in December. Commodity markets generally followed the same trend. The CRB Commodity Index gained just over 10% on the month, with both the energy and non-energy components exhibiting significant performances. Metals, both precious and industrial, saw similar gains.
The strong December trend in risk assets provided clear benefits for
Markit has launched the Markit iBoxx USD Emerging Markets Sovereigns family of benchmark and tradable indices referencing US dollar-denominated emerging market debt.
The index family has been introduced in response to increased investor interest in emerging market debt and complements Markit’s GEMX index, launched in 2008, which tracks the performance of emerging market sovereign debt denominated in local currency. The company’s fixed income emerging market indices use multiple pricing sources, helping to ensure they are independent, objective and transparent.
The index family includes a liquid tradable index which will be used as the basis for index-linked tradable products such as
Societe Generale Securities Services (SGSS) has appointed Mathieu Maurier as Global Head of Sales and Relationship Management to replace Sebastien Danloy.
Maurier, previously Deputy Head of SGSS Russia at Rosbank, becomes a member of SGSS Executive Committee and will report to Alain Closier, Global Head of SGSS. With over 16 years experience in the international securities services industry, his principal responsibilities will be to pursue SGSS’ commercial development strategy and to accompany its clients in their growth and development, in particular through the presence of the business in 28 countries worldwide.
RWC Partners has brought forward the launch of Peter Allwright and Stuart Frost’s UCITS III RWC Enhanced ARC (Absolute Rate and Currency) Fund from the end of Q1 to February 2011.
Allwright and Frost joined RWC Partners in October 2010 from Threadneedle where they were the joint portfolio managers of the Threadneedle Target Return Fund, Absolute Return Bond Fund and the hedge fund, Macro Crescendo Trading Fund.
RWC Enhanced ARC will be managed to target cash +6% on an annualised basis. The managers have historically managed both unconstrained macro funds and more conservative funds targeting cash +3%. In order to target
Algorithmics has moved its European headquarters from the City of London to a new facility at 30 North Colonnade, Canary Wharf, which is owned by its parent, Fimalac.
The move marks a major investment for Algorithmics in new premises and infrastructure that is set to benefit both clients and staff of the company.
The new office, which has been designed to reflect Algorithmics’ culture of innovation and has been created with the help of award winning design consultants and staff, has an open working environment, creative spaces and long term flexibility to encourage collaborative working at all levels within
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.
