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Derivatives exchange Eurex intends to intensify its cooperation with the European Energy Exchange.
The objective is to further strengthen Leipzig as a European centre of expertise for energy and emissions products.
In line with this, Eurex and Landesbank Baden-Württemberg have concluded an agreement that will allow Eurex to acquire LBBW’s stake in the EEX.
Eurex currently holds a 35.2 per cent stake in the EEX.
Eurex and the EEX have been cooperating in the trading and clearing of emissions rights and power derivatives since December 2007.
“By expanding our stake we are going to improve EEX’s position in European energy
Hedge funds experienced a mild setback in November, according to the latest data released by Morningstar.
The Morningstar 1000 Hedge Fund Index declined 0.8%, while the currency-hedged Morningstar MSCI Composite Index dropped 0.1%. For the year to date through November, these indexes have risen 6.1% and 7.2%, respectively. Both of these figures handily beat the performance of global stocks through November, but performance for the year to date is less than one-third of the performance over the same period in 2009.
"Hedge fund performance so far in 2010 pales in comparison to 2009," says Nadia Papagiannis (pictured), alternative investment
London hedge fund manager, Sloane Robinson, one of the city’s best-known funds having been around since 1993, announced this week it would be teaming up with Deutsche Bank to la
Twenty five years ago this week saw the first formal adoption of the UCITS directive, since when it has gone through two further incarnations, with a third, UCITS IV, due next July.
Swiss bank UBS AG has teamed up with US-based Hedge Fund Research, a market leader in hedge fund analytics and indexation, to launch a UCITS-compliant E
Asia has been the focus of strong investment and solid performance to boot this year as China, India and the ASEAN five continue to show strong economic growth.
The Bermuda Government is planning to extend to 2035 the period of time for which the Ministry of Finance may grant an assurance to international businesses that are identified as exempted undertakings that they will be exempt from certain tax liabilities in Bermuda.
The announcement was made as part of the 2010 Speech from the Throne, given in November and delivered by Sir Richard Gozney, Governor of Bermuda.
According to law firm Appleby, the current legislation, the Exempted Undertakings Tax Protection Act 1996 and related regulations, currently provide for assurances to be granted to exempted undertakings by the Ministry of
Fortress Investment Group has appointed Thomas Chan-Soo Kang as president, Fortress Asia.
Kang will become a member of Fortress’s management committee and will have responsibility for business development, capital formation, strategy and management/administration in the Asia region.
Kang will be based in Fortress’s newly opened Singapore office, and will report directly to Fortress chief executive Daniel Mudd.
“Tom’s role underscores our deep commitment to the region and will support the continued strategic expansion of our Asia business,” says Mudd. “Tom brings an exceptional depth of experience to our team, including building and running major investment companies and establishing one of
There’s a real buzz in the air right now. Why?
US investment bank, Morgan Stanley, has appointed Kevin O’Reilly to run its China commodities at the turn of the year, reported Bloomberg this week.
