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OFI Asset Management and Gottex Solutions Services intend to enter into a joint venture called Luma Solutions Services, a Luxembourg based platform providing onshore managed account services to Ucits and other European onshore funds with an initial asset base of USD350m (EUR250m).
The formation of the joint venture is subject to approval from the Luxembourg regulatory authorities.
Luma Solutions Services will be the first independent platform offering managed accounts services for both Ucits III and non Ucits III onshore funds to European and international clients.
Managed account and risk management services to Luma Solutions Services will be provided by GSS,
To say the last year or so has been testing for investors across the world would be something of an understatement. So where do the global markets currently stand, what can we expect in the future and what issues should investors be considering? Marshall Gittler (pictured), Deutsche Bank’s Chief Strategist, and Clive Wright, Head of Executives & Entrepreneurs, discuss their views on the current market and the implications for wealth management…
Q: Has the world emerged from recession yet?
Marshall Gittler: It’s official: the recession is over – at least in the US. With the non-farm payrolls rising in January
Following its May announcement that it plans to launch two purpose-built clearing houses in London and Paris before the end of 2012, NYSE Euronext has named the leadership team which will be engaging with customers and partners on the delivery of the project.
Mark Ibbotson, formerly the chief operating officer of NYSE Euronext’s global derivatives segment, will lead the implementation team as executive vice president, global clearing, reporting to Duncan Niederauer, the group chief executive officer.
Reporting to Ibbotson will be Declan Ward, executive director of NYSE Liffe Clearing in London, and Michel Favreau, the company’s clearing project director in
Skandia Investment Group’s UK Strategic Best Ideas fund has recorded its highest ever net market exposure as underlying managers’ continue to have faith in UK companies.
The new record, reached at the end of last week, means that the GBP63m fund currently has only five short positions in the entire portfolio.
The fund’s biggest position (4.77 per cent) is currently in Lloyds Banking Group, which is also the biggest active bet in the 60-stock portfolio.
Launched in September 2007, Skandia UK Strategic Best Ideas is a multi-manager fund that aims to provide long term total return through investment in
Carey Olsen has appointed advocate Christopher Anderson as a corporate partner in the Guernsey office.
Anderson, who has significant experience in investment funds, insurance and reinsurance and protected and incorporated cell companies, will work in the firm’s corporate and finance team.
Anderson has built a strong reputation in private equity having advised some of the world’s largest private equity houses as well as new fund promoters in connection with fund establishment, investment structuring, exits and regulatory issues.
He has also advised the insurance and reinsurance sector for more than 16 years.
“Carey Olsen in Guernsey has more funds and more
After four months of agitation, activity on the stock market seemed to calm down somewhat in October, research by Edhec-Risk Institute shows.
Following exceptional gains in September, the S&P 500 index remained on the rise (+3.80 per cent) and implied volatility (21.20 per cent) decreased significantly by 2.50 per cent to reach its lowest level since last March.
On the fixed income market, regular bonds remained stable (+0.09 per cent) although the Lehman Global Bond index withdrew marginally (-0.16 per cent).
Conversely, after a remarkable performance in September, convertible bonds remained strong (+3.08 per cent). The situation was similar on
At the fourth edition of the Edhec-Risk Institutional Days conference at the Grimaldi Forum in Monaco on 8-9 December, Edhec-Risk Institute will be presenting research results on two key themes for the investment industry: regulation and indices.
The conference will open with a session that will bring together institutional investors and regulators for a debate on the impact of regulations on the financial management of pension funds.
This session will include the results of an exclusive survey of the asset-liability management practices of European pension funds.
The second day of the conference will feature separate sessions on:
– “Regulation and non-financial
Half of pension funds have recently altered the asset allocation of their investments, with the majority reducing exposure to equities in favour of alternatives, according to Baring Asset Management’s annual poll of UK pension schemes.
Of the 50 per cent of pension professionals that had changed recently changed the asset allocation of their fund, 69 per cent had increased their exposure to alternatives and 61 per cent had decreased their exposure to equities.
Respondents claimed that the main reason for making these changes was to reduce the volatility of the fund (61 per cent). The second most common reason for
The RBC Hedge 250 Index had a net return of 1.35 per cent in October.
This brings the year-to-date return of the index to 3.93 per cent.
These returns are estimated and will be finalised by the middle of next month.
The return for September 2010 has been finalised at 2.21 per cent.
The RBC Hedge 250 Index is a non-investable benchmark of the performance of the hedge fund industry. The universe on which the index is based currently consists of 3,791 hedge funds (excludes funds of hedge funds) with aggregate assets under management of USD892bn.
Melanie June Miller of Mermaid Waters, Queensland, has been sentenced to six months imprisonment in the Southport Magistrates’ Court for her involvement in an international investment scam which raised almost AUD7m from Australian investors.
Upon entering into a recognisance in the sum of AUD2,000 and condition that she be of good behaviour for a period of two years Miller will be released forthwith.
Miller, 43, was charged with one count of providing financial advice without an Australian Financial Services licence under s911A of the Corporations Act. This charge followed an ASIC investigation which found Miller encouraged approximately 80 people to
