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Geneva based Palaedino Asset Management, adviser to the Axiom Fund, has launched the first Ucits Funds denominated in gold.
Investors who choose the gold share class will have an exposure to the fund’s investments and to gold fluctuations.
This will allow investors to participate in the performance of the funds and gold while being isolated from fluctuations in conventional currencies such as euros, US dollars and sterling.
The new gold share classes will be available to the full range of Axiom products which includes: Global Equities, Global Fixed Incomes, Global Diversified and the newly launched Ucits Alternative Investable Index
On 13 December 2010, the Privy Council delivered its judgment in the Strategic Turnaround appeal from the Cayman Islands Court of Appeal. Maples and Calder comments on the decision, which clarifies a number of important points in respect of suspensions and redemptions by Cayman Islands investment funds.
The key point from the Privy Council’s decision is that it is the terms of the fund’s articles that determine the rights of all parties in respect of redemption by investors and the suspension of redemptions and payment rights.
Colin McKie (pictured), partner, Litigation Group, Maples and Calder Cayman Islands, welcomes this confirmation
British Virgin Islands law firm Harneys has secured an important victory for a large hedge fund this week in the Commercial Court of the British Virgin Islands.
In the case, Aris Multi-Strategy Lending Fund Ltd v Quantek Opportunity Fund Ltd, the applicant, a minority investor in a BVI feeder fund, sought to have liquidators appointed on the just and equitable ground.
The fund had suspended redemptions in the wake of the credit crisis in October 2008 and had presented a realisation plan approved by a majority of investors which provided for an orderly wind down of the assets held by
Technology company ConvergEx Group has signed a definitive agreement to acquire RealTick, a multi-broker, cross-asset electronic execution platform, from Barclays Bank.
Financial terms were not disclosed. The deal is expected to close by year end 2010, conditional upon regulatory and other customary closing conditions.
With the close of this acquisition, ConvergEx will broaden its technology offering to include a multi-asset class, easily deployable and completely broker-neutral execution platform.
RealTick’s technology integrates sinto almost any trading style and offers features that enable traders to simplify their daily workflow.
“We chose to acquire RealTick because of its highly scalable technology, proven track
Stenham Advisors has joined the Hedge Funds Standards Board’s Investor Chapter.
The HFSB was formed with the goal of creating a framework for promoting integrity, transparency and good governance in the hedge fund industry.
In order to engage investors in this process, the HFSB created its Investor Chapter.
Jeremy Swindell, head of operational due diligence at Stenham Advisors, says: “At Stenham we have always been committed to managers with independent fund oversight and valuation, strong governance, robust risk management processes as well as appropriate levels of disclosure. These are the key objectives of the Investor Chapter and we are proud
The future of Jersey’s zero basic rate of corporate income tax is in renewed doubt amid heated debate in the Channel Islands and critical comments by the European Union and the UK Treasury.
Following a recent review of the compliance of Jersey’s and the Isle of Man’s zero-10 regimes with the EU Code of Conduct on Corporate Taxation, the Treasury has announced that it expects both islands to abolish them.
“We are ready to offer support to Jersey and the Isle of Man in implementing the changes necessary,” says a spokesman.
“Although Guernsey operates a similar regime, it
GlobeOp Financial Services, a provider of business process outsourcing, financial technology services and analytics to the financial services industry, has reported assets under administration of USD148bn as at 30 November 2010, a 24 per cent increase since 30 June.
The company had USD84m in cash as at 30 November 2010.
Hans Hufschmid, chief executive officer, says: "Trading during the second half of the year has been in line with management’s expectations. Revenues, adjusted operating profit and cash flows have remained strong. GlobeOp continues to experience excellent operating leverage as we maintain our focus on cost efficiency. During the second half
A study by Advent Software suggests that a research management solution can save investment firms around 40 per cent in labour costs associated with inefficient and often futile information searching.
Based on a survey of 360 portfolio managers, research directors and analysts, the study found that highly compensated professionals spend an inordinate amount of time searching and sifting for information that is already in their firms’ possession, but scattered among different systems – email accounts, network drives and individual computers.
The inability to find critical decision-making data quickly is costly, not only in staff time but also in missed opportunities.
Fusion Asset Management, the London-based investment manager, has launched a Ucits fund via SEB Prime Solutions.
This is the third launch on SEB’s Ucits platform since its inception three months ago.
The SEB Prime Solutions-Fusion Libor+ 800 Currency Ucits Fund is a cash management-style product, targeting returns of 800 basis points over Libor. It is a carry strategy with daily liquidity, trading spot G10 currencies only.
Fusion has been running the underlying strategy for two years in its Cayman fund and on a managed account basis.
Kirill Ilinski, founder and chief investment officer at Fusion Asset Management, says: “This fund
Northern Trust has integrated BarraOne with its operations platform to strengthen predictive risk analytics and reporting across asset classes, including derivatives.
The integration of BarraOne’s multi-asset class portfolio risk service with Northern Trust’s custody, accounting, fund administration and collateral management platform provides a seamless view of risk and compliance information for clients including investment managers, pension funds, insurance companies, family offices and other asset owners.
Using Northern Trust’s single, integrated risk portal, clients can apply the full spectrum of risk models and stress-testing to generate predictive risk reports that can be used to adjust strategies, maintain investment policy compliance or
