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Guernsey’s fund industry is seeking a foothold in India by providing services not available locally, following a weeklong visit to the country by representatives of the island’s financial services sector.
A number of Indian-based fund promoters are in the process of launching Guernsey-domiciled, London-listed closed-ended investment funds, according to Joe Truelove (pictured), head of Channel Islands business development for Kleinwort Benson’s corporate fiduciary division and chairman of the marketing committee of the Guernsey Investment Funds Association.
“Mauritius and Singapore both benefit from having double taxation treaties with India, which is why one of these jurisdictions is nearly always used for
Edhec-Risk Institute has added six new members to its international advisory board, which brings together representatives from regulatory bodies, pension funds, professional organisations and business partners.
The role of the international advisory board is to validate the relevance and goals of the research programme proposals presented by the centre’s management and to evaluate research outcomes with respect to their potential impact on industry practices.
The new members are:
• Christopher J. Ailman (pictured), chief investment officer, California State Teachers’ Retirement System
• Tai Tee Chia, managing director, Government of Singapore Investment Corporation
• James C. Davis, vice president, investment planning and economics asset
Suranya Capital Partners has hired Patrick Littlefield as head trader of its discretionary global macro fund.
Littlefield joins the hedge fund run by Anu Murgai, formerly of Shumway Capital, from Quantitative Financial Strategies, where he was a senior trader.
Littlefield spent ten years at QFS trading on behalf of a variety of quantitative investment strategies.
He has expertise in trading cash, futures, swaps and options across FX, equities, fixed income and commodities.
Prior to QFS, Littlefield worked at Bankers Trust as an FX trader and at Barclays Capital in the fixed income derivatives trading group.
Launched in October 2007, the
Corinthian Cove Consulting, which assists investment management organisations with strategy and business development, has appointed Richard Graf and Sheila Warner as partners.
Existing members of the firm include John Boneparth, founder and managing partner of Corinthian Cove who previously served as president of Hall Capital Partners and head of global institutional management at Putnam Investments, and Gail Harris, a National Emmy Award-winning journalist and television producer.
“Corinthian Cove’s experience represented by our expanded group of partners makes a difference as global investment management industry executives tackle strong business headwinds,” says Boneparth. “Sheila and Dick will help us play a significant
British Virgin Islands-based investment manager Bluenose Capital Management is on schedule to launch its managed foreign exchange programme, Bluenose FX, on 1 November.
The systematic forex programme is aimed at US qualified eligible persons as defined within CFTC rule 4.7 and non-US nationals.
The programme will be made available on a managed account platform at Interactive Brokers.
The objective is to generate an annualized compound rate of return of 15 per cent with lower downside volatility versus the S&P 500 and Barclay CTA Index benchmarks.
Using proprietary fuzzy adaptive models, Bluenose FX will engage in short-term mean-reversion strategies
PerTrac Financial Solutions’ analysis of 2009 hedge fund performance reaffirms the existing trend of less tenured funds outperforming older ones and reverts to findings from earlier studies indicating that small to mid-sized funds outperform larger ones.
“Coming off the worst calendar year losses in history in 2008, the hedge fund industry provided investors with a strong comeback in 2009. According to our research, the rally was led by the younger funds,” says Jeff Hendren, co-president of PerTrac. “When we looked at performance according to the size of a fund, our research revealed that the small and mid-sized funds achieved the
Approximately 45 per cent of hedge fund managers in the US and approximately half of hedge funds in Europe and Asia say one or more of their funds remain below their high-water marks.
The relatively large number of hedge funds struggling to reach prior high-water marks in performance is just one of several findings from the 2010 Greenwich Associates/Global Custodian Prime Brokerage Study, demonstrating the extent to which the hedge fund industry is still feeling the after-effects of the global financial crisis.
Almost 55 per cent of the US hedge funds participating in the study and 35 to 40
The Blackstone Group’s economic net income was USD339.3m for the third quarter of 2010, an increase of USD63.9m from USD275.3m, or 23 per cent, for the third quarter of 2009.
Economic net income was USD904.9m for the nine months ended 30 September 2010, an increase of USD531.2m compared to economic net income for the nine months ended 30 September 2009 of USD373.8m.
The increase was principally driven by increased performance fees and allocations and investment income.
For the third quarter of 2010, total segment revenues were USD792.2m, up significantly from USD603.8m for the third quarter of 2009. The improvement was
The Irish funds industry has welcomed a harmonised framework for alternative investment fund managers and the regulatory changes to Irish collective investment schemes.
The Irish Funds Industry Association says the agreement on the Alternative Investment Fund Managers Directive will introduce the opportunity to passport Irish qualifying investor funds throughout Europe.
The Council of the European Union announced last Wednesday (20 October) that it had “set out its position with a view to concluding negotiations with the European Parliament on a draft directive introducing harmonised EU rules for entities engaged in the management of hedge funds and other alternative investment
The CEO of Hong Kong hedge fund management firm Value Partners Group, Mr Cheah Cheng Hye
