Latest News
SL Investment Management has launched SL LifePlus Series 2, a life settlement fund.
It aims to deliver net returns of at least eight to ten per cent per annum with low volatility and minimal correlation to the wider markets, achieving a true absolute return strategy.
Fund management charges will be between one per cent and 1.75 per cent.
SL played a key role in the creation of the newly unveiled Elsa code.
SL has a due diligence checklist of over a 110 separate items for all policy purchases including specific checks designed to identify any policies where there may be
James Caird Asset Management has hired Ian Newton and Matthew Addison from the special situations team at Cheyne Capital.
Newton joins James Caird with over 17 years’ experience in special situations investment management with extensive experience in risk arbitrage and event driven opportunities.
Addison joins from Cheyne Capital where he had become a partner in 2007. His focus is on event driven equities, merger arbitrage, and stressed/distressed debt strategies.
“JCAM is fortunate to be growing at this time as the available talent pool is deep. The availability of top quality analysts, managers and traders has never been higher. We believe
Katalyst Partners has been launched as a boutique advisory firm by Ravi Anand and Frank Ennis, together with corporate partners Kinetic Partners and Dexion Capital.
The firm provides corporate finance and strategic advice to the investment management industry, encompassing both traditional and alternative asset managers, wealth managers, closed end investment companies and service providers.
Katalyst Partners identifies, executes and provides advice on business, corporate or product development initiatives.
Anand, previously head of corporate finance and co-head of alternatives at New Star Asset Management, and Ennis, former partner at PwC, bring together more than 45 years’ experience in financial services.
The US Commodity Futures Trading Commission has filed and settled charges against public accounting firms McGladrey & Pullen and Altschuler, Melvoin & Glasser and partner G. Victor Johnson II for failing to audit properly Sentinel Management Group.
Sentinel was an Illinois-based futures commission merchant that declared Chapter 11 bankruptcy in August 2007. M&P acquired assets relating to AMG’s audit practice in 2006.
The CFTC charges arise from audits of Sentinel conducted in 2004 through 2006.
The CFTC order requires M&P and AMG to pay civil monetary penalties of USD150,000 and USD350,000, respectively. The order also requires M&P to
FRSGlobal has joined Wolters Kluwer Financial Services, a regulatory compliance and risk management business.
The combination of these two businesses will enable FRSGlobal to offer compliance and risk solutions that cover operational risk, regulatory compliance and financial risk and reporting.
Wolters Kluwer Financial Services, which is part of a USD4.8bn information services company, is solely focused on the compliance and risk management challenges of financial services organisations.
There will not be any changes to FRSGlobal’s current processes, systems or communication.
GoldenTree Asset Management, an investment firm that manages alternative and traditional asset strategies for sophisticated institutional and high net-worth investors, has hired Bob Sherman as a partner.
Sherman will work closely with partners Frank Jordan and Tom Humphrey in the continued expansion of GoldenTree’s institutional franchise.
“Bob Sherman’s track record of building successful asset management businesses, and his experience in fixed income credit markets, presented a great opportunity for GoldenTree to further develop the quality of our franchise,” says Humphrey. “Bob’s credibility with consultants and institutional investors strengthens our ability to provide credit investment solutions for our clients. Frank and
Jefferies has hired Josh Gold as a managing director and head of the firm’s new hedge fund relationship group.
Gold will be responsible for efforts to manage the firm’s overall relationships with US-based hedge funds, including representing Jefferies’ broad product offering across equities and fixed income.
"The establishment of a hedge fund relationship group is further evidence of Jefferies’ commitment to strengthening our equity and fixed income sales and trading platform, and to providing quality, best-in-class service to our global institutional clients," says Richard B. Handler, chairman and chief executive officer of Jefferies. "Given his strong background, Josh Gold is
Commodity hedge fund manager Global Advisors has appointed Paul Russell as chief operating officer.
Russell’s responsibilities will include all of the business aspects of Global Advisors including infrastructure, finance, legal, resources management and third-party outsourcing arrangements.
Daniel Masters, co-principal says: “We are delighted to have Paul on board. He brings a breadth of skills and nine years of experience in running the business aspects of a commodity investment firm. Russell and I will now be freed to further our research process.”
Prior to joining Global Advisors, Russell was the chief financial officer and a partner at Clive Capital,
Returns for the Credit Suisse Liquid Alternative Beta Indices suggest that hedge funds produced their best monthly returns year-to-date amid September’s market rally.
The Credit Suisse Liquid Alternative Beta Index was up 3.58 per cent last month, making September the best month of performance for hedge funds this year.
The greatest positive contributor in September was the Credit Suisse Long/Short Liquid Index which posted record returns of 5.41 per cent.
The LAB Event Driven Liquid Index was up 4.65 per cent, making it the best performing sector year-to-date with gains of 8.89 per cent.
The LAB Merger Arbitrage Liquid Index
A working paper on Ucits regulation has found no conclusive evidence that less regulated hedge funds outperform alternative Ucits funds on a risk adjusted basis, even though they find some cross-sectional evidence.
The paper was published by Nils S. Tuchsmid and Erik Wallerstein from the Haute Ecole de Gestion in Geneva, and Louis Zanolin from NARA Capital.
The working paper is one of the first to evaluate and compare the performance of hedge fund-like strategies wrapped under the Ucits regulation with less regulated hedge funds.
The authors found a significant difference in level of risk between hedge funds and alternative
