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The FSA has fined a former cash equities broker GBP252,239 and banned him from working in the financial services industry for “acting without integrity”.
Fabio Massimo De Biase, a former employee of TFS Derivatives Ltd was found by the FSA to have taken kickbacks in return for passing business to Anjam Ahmad, a hedge fund trader formerly with AKO Capital LLP.
As part of De Biase’s remuneration, he was paid a proportion of the commission revenue he generated from winning broking business. Between January 2008 and September 2009 he paid GBP131,000 to Ahmad in return for Ahmad giving broking business
Advent Software has issued a white paper on UCITS titled, UCITS Come to the Fore: Opportunities and Challenges for the Funds Industry. This white paper looks in depth into how the fund industry is changing and developing following the financial crisis and discusses the evolution of the UCITS fund vehicle.
To download the paper, click here
Stigma Partners is launching the Stigma Funds (LUX) – Macro Cyclical Accumulator on 1 October.
Stigma says the fund is an alternative proposition to the turmoil currently facing the global economy.
Siamak Siassi, chief executive of Stigma Partners, says: “We decided to launch this new fund to meet the growing demand for a product structured in fund format reflecting our innovative investment concept so far only available in managed accounts. This new fund will broaden our product offering further while allowing a wider base of investors to benefit from our expertise.”
Capital preservation and wealth accumulation are the key values
Investment bank Moelis is acquiring the management companies of Gracie Credit, a multi strategy credit manager.
The acquisition will expand Moelis’ asset management platform and enable Gracie to benefit from the added resources and global reach of a larger organisation.
Following closing of the transaction, expected in November of this year, Gracie will operate as a separate business within Moelis.
Established in 2004 by managing partner Daniel Nir, Gracie has approximately USD2bn in assets under management and targets investment opportunities across the entire spectrum of credit products and markets. Nir and partners James Palmisciano, Manbir Singh, Michael Robertson and Alex
New Forests, an investment management firm specialising in timberland and associated eco products, has closed the largest timberland fund in Australia this year on the back of major restructuring of forestry investment in the region in 2010.
New Forests’ AUD500m Australia New Zealand Forest Fund will invest in a diversified portfolio of timberland properties and forestry-related investments in Australia and New Zealand backed by European, Australian and North American institutional investors
New Forests’ managing director says: “Now is the right time for investors to be weighting toward the timberland asset class because of its low volatility and positive correlation
Sturgeon Ventures has appointed Tom Powell as chief operating officer and investment adviser and has launched a “Virtual Chief Operating Officer” service for clients.
Sturgeon specialises in helping entrepreneurs establish start-up financial services businesses in the institutional and wealth management space.
The new service is a project management tool for start-ups in the UK and foreign companies wishing to set up operation in London.
Sturgeon’s client list includes oil and gas advisory firm Wimmer Financial, US-based M&A consultancies such as Moelis and Harris Williams and venture capital platform Venture Capital Partners.
Seonaid Mackenzie, managing partner of Sturgeon, says: “We are
Signature Group has formed a partnership with Apache Advisors, a Dubai based consultancy.
As part of this partnership Apache Advisors will provide strategic input to Signature’s distribution and product structuring strategies.
Paul Forsyth, the co-founder of Apache Advisors, will become a non-executive director of the Signature Group.
Pankaj Agrawal (pictured), chairman of Signature Group, says: "We are continuing to strengthen our senior management team to enable us to develop the finest investment solutions for our clients and prospective investors. The skills and experience of Mr. Forsyth will be a valuable asset as our group develops and expands internationally."
Forsyth adds:
Driven principally by demand from investors for greater transparency and liquidity of their investments, the growth of investment in hedge fund strategies through managed accounts continues t
Following the financial turbulence, institutional and other investors increasingly began to investigate managed accounts as a solution to asset control issues that emerged with pooled fund in
Gottex Solutions Services was established to service the needs of the Gottex group’s fund management arm, Gottex Fund Management, for risk transparency and managed accounts.
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