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Morgan Stanley has selected GlobeOp Financial Services to provide independent middle and back office services and daily data and reporting for its managed account platform Alphas.
"Managed accounts require significant infrastructure to meet fund manager and investor demands for operational transparency and independently reconciled data," says Ron Tannenbaum, managing director, GlobeOp. "We welcome the opportunity to support Morgan Stanley with an established platform that currently serves more than 100 fund and investor clients with robust processing and a suite of web-based, customised reports."
GlobeOp’s managed account platform services – GoMAP – offer independent middle and back office services, risk services
Javelin Capital, the recently authorised investment management firm, has launched its first fund, the Javelin Capital Global Equity Strategies Fund, with seed capital of USD31m.
The fund will take long and short positions in equities globally, including emerging markets.
The fund, managed by an investment team of portfolio managers formerly at Goldman Sachs and Citigroup and headed up by Javelin’s chief investment officer Victor Pina, will have a range of long-short equity strategies which include fundamental, systematic and tactical approaches.
Using proprietary models that have been developed, the team will analyse and judge which strategy is most appropriate for
Amundi has hired five investment professionals for its UK branch based in London.
Christopher Morris has joined the company as senior global fixed income manager, Anne Beaudu will join shortly in the same capacity and James Kwok has joined as head of currency management.
Fabio Castaldi and Alexandre Burgues have joined the company as absolute return managers, responsible for managing volatility overlays.
Headed by Laurent Crosnier, chief investment officer, and Markus Krygier, deputy chief investment officer, Amundi London Branch’s investment business covers global fixed income, absolute return, currency, emerging debt and global equities.
Pascal Blanqué, chief executive of
Woori Absolute Partners, an alternative investment firm based in Singapore, has appointed Edward Sungshik Moon as its chief investment officer.
Moon will continue in his current role as the firm’s head of fund of funds and lead portfolio manager.
Prior to co-founding Woori Absolute Partners, Moon worked at Citigroup/Salomon Smith Barney and Credit Suisse First Boston.
BNP Paribas Securities Services has launched an enhanced service for onshore and offshore private equity and real estate funds.
In response to the growth in more sophisticated multi-jurisdictional, direct and indirect private equity and real estate funds, BNP Paribas has launched a dedicated platform for funds domiciled both on and offshore, including those with entities in multiple jurisdictions.
Dedicated operational teams provide transfer agency, fund administration and custody monitoring, together with a suite of accounting, investor and regulatory reports.
Maria Cantillon, head of alternative investment managers, BNP Paribas Securities Services, says: “We are delighted to be able to respond to
Fortress Investment Group is opening an office in Singapore, which will act as a key hub of the firm’s investment and business development activities in Asia.
Adam Levinson, co-chief investment officer of the firm’s flagship global macro funds, will lead Fortress’s Asia-specific macro trading activities from a new office in Singapore starting in early 2011.
Fortress currently has offices in London, Tokyo, Frankfurt, Rome and Sydney.
Levinson joined Fortress in 2002 and serves on the firm’s operating and management committees. Prior to joining Fortress, he was a fund manager at Tudor Investment and a proprietary trader for ten years at
Algorithmics, a provider of risk solutions, says Basel III is lacking in its conceptual approach to capital and liquidity.
The raft of proposals from the Basel Committee includes the tier 1 capital ratio, buffer building, and leverage and liquidity ratios, which are all significant in their own right.
However, having assessed all the regulatory documents from a holistic rather than risk silo perspective, Algorithmics’ research paper, titled “Basel III: What’s New? – Business and Technological Challenges”, identifies the fundamental flaw of failing to reflect the true relationship between liquidity and capital.
One of the report’s authors, Mario Onorato, head
AllianceBernstein has acquired SunAmerica’s alternative investments group, a team that manages a portfolio of hedge fund and private equity fund investments.
"We are pleased to add to our alternative investment capabilities this exceptional hedge fund and private equity fund investment team," says AllianceBernstein chairman and chief executive Peter Kraus. "Marc Gamsin and his SunAmerica Alternative Investments colleagues have built an outstanding platform, which we believe will provide valued investment opportunities for our clients."
Gamsin adds: "We’ve admired AllianceBernstein’s superb investment research for many years, and we’re thrilled to become a part of this respected, global institution, while maintaining our long-standing
LaCrosse Global Fund Services has completed its acquisition of the alternative fund administration business of Bank of America Merrill Lynch.
LaCrosse now has more than USD21bn in assets under administration and more than 250 employees.
The acquisition was originally announced on 19 July 2010.
LaCrosse is a provider of operations, middle-office and administration services to managers of complex hedge funds.
Irish law firm Mason Hayes+Curran has appointed Mark Browne as a partner in its investment funds department.
Browne has over ten years’ experience in the funds industry and advises on all aspects of the structuring, establishment and ongoing operation of investment funds in Ireland.
In particular, he advises on the redomiciliation of offshore funds to Ireland and the restructuring of hedge funds as Ucits.
Prior to joining Mason Hayes+Curran, Browne practised for four years as an attorney-at-law specialising in hedge funds in a law firm in the Cayman Islands. He also previously worked in the investment funds department of another
