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Axis Bank has launched an infrastructure index called Axis Infra Index.
The index will interpret capital expenditure in the infrastructure sector, policy and regulatory framework and track developments associated with infrastructure projects that influence investor confidence in the sector.
Based on these observations, the index will reflect the sector’s growth on a monthly basis.
Varadarajan Srinivasan, executive director (corporate banking), Axis Bank, says: "The AII is still evolving. In future it would track the sub-segments under the infrastructure space. These could be power, telecom, bridges or water."
The index intends to make the sector and its activities familiar to prospective
IDS Capital (Geneva) has appointed Duncan McKay as a director, responsible for the business development of the firm and for asset-raising for IDS Capital’s family of funds.
The funds comprise IDS Umbrella Fund Sicav (Multi managers) and F&F Systematic Trading Fund, the firm’s internally run CTA programme.
McKay started his career as an equities trader in London in 1986, moving into trading and placing Eurobonds.
Formerly the chief executive of Dupre’s, a Monaco based investment firm, his principal focus is on the alternatives investments sector and he has marketed both funds of funds and single manager funds.
Cedric van Rijckevorsel,
Brevan Howard Capital Management is set to list a new investment company, BH Credit Catalysts, on the London Stock Exchange.
BH Credit Catalysts will be a closed-ended, Guernsey-incorporated investment company, proposed to have a premium listing on the Main Market of the London Stock Exchange in December 2010.
The company, a feeder fund, will invest substantially all of its assets in Brevan Howard Credit Catalysts Master Fund, an open-ended, Cayman-incorporated investment company which commenced operations in June 2009.
Shares will be offered to sophisticated investors and will be denominated in USD, EUR and GBP currency classes. Other currency classes
Man Group has completed its acquisition of GLG Partners.
The acquisition creates a multi-style, performance-focused alternative asset manager with funds of around USD63bn under management.
GLG is now a wholly owned subsidiary of Man.
Peter Clarke, chief executive of Man, says: “The acquisition of GLG is a significant milestone in Man’s development as a global leader in alternative asset management. Investors are now able to gain access to managed futures, equity, credit, emerging markets, global macro, across single manager funds, managed accounts, multi-manager portfolios and structured products, all managed by Man’s highly experienced and talented investment professionals. This builds
In the face of faster trading speeds, increased volume, growing instrument complexity and greater globalization, hedge funds must manage a wider array of risks today than even five years ago, a report by Advent Software/Beacon Consulting says.
In a 2010 survey on operation risk by Beacon Consulting and Advent Software, 71 per cent of investment firms reported having planned, initiated or completed a risk assessment in the preceding six months.
The paper says firms must be prepared to meet higher investor expectations and tighter regulatory scrutiny.
Meeting these challenges begins with a risk assessment to gauge the firm’s exposure
The rapidly expanding foreign exchange markets have attracted a new, sophisticated breed of individual trader focused almost entirely on forex, according to the first phase results of the CitiFX Pro Forex Trader Survey 2010.
The first-ever industry wide survey of forex traders was sponsored by CitiFX Pro and conducted in partnership with major forex media outlets including FXstreet.com, ActionForex, ForexPros and ForexTV.
A high percentage of respondents (63 per cent) concentrate exclusively on foreign exchange and said that forex is the only asset class they trade. Of those who also trade other asset classes, 71 per cent trade equities,
EIM has hired John Ward for the role of head of operational due diligence.
Ward will lead EIM’s existing team of experienced operational due diligence professionals and be responsible for maintaining the firm’s position as an industry leader.
“Risk management and operational due diligence are two critical pillars of EIM’s fiduciary responsibility to its clients,” says EIM’s chairman Arpad Busson. “John Ward brings to the firm a wealth of practical knowledge and will be instrumental in developing this function.”
Ward will join EIM on 8 November from Nomura Funds Research & Technologies America where he was executive director and chief
Standard Life Investments believes that the corporate sector will remain the strongest part of the world economy in the years ahead.
Company managers in an effort to maintain this strength will alter their behaviour by deploying more of their accrued cash towards growth rather than dividend distribution policies.
In the latest edition of Global Outlook, Richard Batty, global investment strategist at Standard Life Investments, says: “Our analysis shows that investor behaviour is already altering, and the corporate sector may be in the process of changing the way it views dividends. In recent years, managers were keen to show their
Hudson Bay Capital Management has hired Scott Black as general counsel and chief compliance officer.
Black joins Hudson Bay from the Securities and Exchange Commission, where he was an assistant regional director in the division of enforcement in the commission’s New York regional office.
“As we build on our culture of best practices, we are extremely pleased to have Scott on our team. His broad regulatory experience in both the public and private sectors make him a strong addition to our institutional investment management platform,” says Sander Gerber, founder and chief investment officer of Hudson Bay.
At the
Titan Capital Group has appointed Lucy Pesa to its institutional marketing team as vice president and James Novotny has joined to manage the accounting and control functions.
“The addition of these two respected professionals to our team enhances Titan’s institutional and operational capabilities as the firm expands,” says Keith Danko, partner at Titan Capital.
Pesa joins Titan from CQS, an alternative investment management firm, where she was a senior executive in the investor relations group. She has also worked previously in investor relations as a vice president at Advent Capital Management and for more than a decade as a
