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Bank of America Merrill Lynch this week announced the launch of a basket of commodity-focused UCITS funds, the latest additions to BAML’s INVEST platform, widely regarded as one of the
Following last week’s announcement, made jointly by BlueCrest and Merrill Lynch’s board of directors, to shutter the BlueTrend managed futures UCITS, the firm is now apparently l
High-alpha asset management firm, RWC Partners, have confirmed that Peter Allwright
Dutch hedge funds posted an average gain of 2.2 per cent in September, as measured by the Finles/IEX Dutch hedge fund index.
This is the third consecutive month of gains and money was made in up and down markets for equities. The October estimate is showing a positive number as well.
The performance of Dutch hedge funds is in line with other liquid hedge fund indices. This is surprising given the outperformance of Dutch hedge funds in months when equity markets correct.
Equity related strategies performed best in September. Macro strategies lagged given their very defensive positioning.
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Although average 2010 base salaries for investment professionals and traders were essentially flat from 2009 levels, year-end bonuses are expected to climb five per cent on average, according to a report by Glocap Search and Hedge Fund Research.
The 2011 Glocap Hedge Fund Compensation Report says this marks the second consecutive year that bonuses increased since 2009, when they rose about 15 per cent on average above the depressed levels of 2008.
Despite the increases over the past two years, overall compensation is still below the peaks reached by the industry in 2007.
Adam Zoia, chief executive at Glocap, says
Law firm Maples and Calder says it has increased its market share in the investment funds arena in Ireland over the past two years.
Maples is now ranked second among all Irish legal advisers, progressing from a previous ranking of seventh in 2008, in terms of funds advised on (both domiciled and non-domiciled).
This represents almost a 370 per cent growth in market share over this period.
Within the last year alone Maples has more than doubled the number of domiciled funds on which the firm advises (a 111 per cent increase).
The market share rankings, as at June 2010,
Citigroup says its trustworthiness as a bank is intact following Thursday’s court victory over private equity group Terra Firma Capital Partners.
In a statement issued after the bank and its head of UK investment banking, David Wormsley, were cleared by a jury at the US District Court in Manhattan of any wrongdoing in Terra Firma’s 2007 acquisition of British music company EMI Group, Citi welcomed the ‘unanimous verdict’.
"We are very pleased that the jury reached a unanimous verdict confirming what we have said from the beginning: that Citi and David Wormsley treated Terra Firm with honesty and integrity in
BNY Mellon, a provider of asset management and securities servicing, has maintained its position as the number one fund administrator in Ireland with assets under administration totalling USD270.4bn across 498 funds, according to Lipper’s 2010 Ireland Fund Encyclopaedia.
The annual report by Lipper, the Thomson Reuters research company, reveals that for combined Irish domiciled and non-Irish domiciled funds, BNY Mellon has an 18.75 per cent market share by asset value.
BNY Mellon recently acquired PNC Global Investment Servicing. According to Lipper, if this merger had taken place by 30 June, the total assets under administration for the new entity would
Nordic financial services group SEB Enskilda has appointed Lawrence Peirson as head of futures sales and marketing.
He will join SEB in February 2011 and will report to Atilla Olesen, head of securities finance, and Gregg Cowie, head of futures, both co-heads of equities.
Peirson has 18 years of experience in the derivatives industry and was most recently employed by Barclays Capital in London as head of relationship management sales futures/prime. Previous roles at Barclays Capital include European head of futures and European head of futures execution and clearing sales.
Peirson says: "I was impressed by the ambition
Wells Fargo Bank has launched a fund services product line within its corporate trust services business to address customers’ fund administration needs.
Wells Fargo Fund Services provides fund administration services including a full suite of back, middle and front-office products and services to private equity firms, exchange-traded commodities, commodity funds, hedge funds, fund of funds and the structured finance marketplace.
Jorge Villalba, a 12-year industry veteran, recently joined Wells Fargo to lead the fund services group. Tom Gandolfo is head of sales.
The team is based in Columbia, Maryland; Houston, Texas; and New York City. Additional hiring is anticipated by
