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Nexar Capital Group, an alternative investment manager, has acquired Allianz Alternative Asset Management from Allianz France, its majority shareholder, and Allianz Global Investors Europe.
Since 1981, Allianz Alternative Asset Management has been providing its clients with a variety of fund of hedge funds under the leadership of industry veteran Jean François Vert (pictured), who will transition onto Nexar’s platform along with the Allianz Alternative Asset Management team.
Nexar’s founding partners Arié Assayag and Eric Attias believe Allianz Alternative Asset Management’s funds are a valuable addition to Nexar’s investment services, while its European-based expertise and network complement Nexar’s fund of hedge
In the wake of the Dodd-Frank Act and the new registration requirements for the USA, Elizabeth Krentzman, Principal, Deloitte & Touche LLP, outlines key considerations as hedge fund and other advisers revisit their compliance programs.
Now is a particularly apt time to consider practical insights for effective compliance programs. Here are seven considerations to keep in mind:
· Tailor Compliance Policies and Procedures – Rule 206(4)-7 under the Advisers Act, the “Compliance Program Rule,” requires written policies and procedures to meet applicable Advisers Act requirements. Make sure your compliance program under Rule 206(4)-7 is tailored to your specific organization and the
Lombard Odier Investment Managers has expanded its fixed income capabilities with the appointment of Richard Walsh as head of emerging market debt.
Walsh will report to Stéphane Monier, global head of fixed income and currencies.
Walsh has over 13 years’ experience in emerging market fixed income and currencies, most recently at BlueCrest Capital Management. He joined BlueCrest from GLG Partners, where he was a portfolio manager in the emerging markets/macro group.
Before joining GLG, Walsh spent ten years in Salomon Brothers’ proprietary trading group and its successor entity Emso Partners as a portfolio manager.
Monier says: “Emerging market debt and
Investor interest in hedge funds was strong again in August, with support from fixed income and commodity strategies, according to research by HFN.
The HFN Hedge Fund Aggregate Index was up 0.41 per cent in August and is up 2.16 per cent in the first eight months of 2010.
The S&P 500 Total Return Index was down 4.51 per cent in August and is down 4.63 per cent year-to-date.
Hedge fund assets increased an estimated 0.86 per cent in August to USD2.268trn. Investor flows accounted for an estimated net increase of USD6.92bn, the third highest monthly net investor inflow in
ML Capital Asset Management has launched the Montlake Ucits Platform, domiciled in Ireland and regulated by the Irish Financial Regulator.
The platform provides investment managers with a turnkey solution for launching a Ucits fund under its umbrella structure, with time to market typically taking six to eight weeks.
The platform also offers immediate access to a wide range of investors through ML Capital’s distribution network.
Funds placed on the platform by ML Capital will benefit from top tier service providers including Citi for custody, administration and trustee services and KPMG for audit.
The Montlake Ucits platform will be marketed
Royal Bank of Scotland has launched 2,000 Turbos on NYSE Euronext in Paris, bringing the market total to 4,300.
These Turbos are already listed on NYSE Euronext in Amsterdam.
The Turbos introduced by RBS offer investors an increase in the choice of available strategies through exposure to a broad range of underlying assets: 31 French equities, 105 foreign equities, 44 indices, 24 commodities, ten currencies and seven bonds.
“RBS is proud to offer this comprehensive range of over 2,000 Turbos to French investors through NYSE Euronext, rounding out the French market with new scope for leveraged investment,” says
Alberto Larson has been named Westcore Capital’s risk management department chairman.
Larson is responsible on overseeing client’s strategy, hedge funds, managed futures funds, client relations and sales.
Larson has served several executive positions such as client relation manager for a securities firm.
He was a former investment executive in the private client group where he focused on client relations, especially in investment evaluation choices in the private equity market.
Larson was also a foreign exchange expert with another brokerage firm where he facilitated investors with charting and technical analysis as well as currency hedging.
Westcore is a multi-service commodity brokerage
Orc Software, a provider of technology and services for advanced trading in financial instruments, has introduced market access to the Singapore Mercantile Exchange.
SMX, the first pan-Asian multi-product commodity and currency derivatives exchange, went live for trading on 31 August 2010.
Its electronic platform offers multi-currency and multi-asset clearing, trading and pricing for contracts with guaranteed settlement and delivery.
The first phase of product launches include two crude oil benchmarks, Brent crude priced in Euros and West Texas intermediate crude oil, its maiden currency pair, Euro-US dollar currency futures, and the first gold futures contract in Singapore to be settled
Fidessa group, a provider of trading systems, market data and connectivity to both buy-sides and sell-sides, has launched global market coverage for its fragmentation analysis tools, the Fidessa Fragmentation Index and Fragulator.
These free to use web-based services were first launched in Europe to provide an unbiased view of the true state of fragmentation following the introduction of the Markets in Financial Instruments Directive.
They now provide global content with specific regional analysis on the US, Canada, Japan and Asia as well as Europe.
The tools allow the trading community to analyse the fragmentation of liquidity in stocks and indices
The Commodity Futures Trading Commission has determined not to issue grandfather relief at this time to parties that petition the commission to continue to operate in reliance upon the Commodity Exchange Act’s exempt commodity exemption for bilateral swaps after the deletion of that provision from the CEA by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Effective 15 July 2011, the Dodd-Frank Act will delete various provisions from the CEA that were first established by the Commodity Futures Modernization Act of 2000 to permit the trading of derivative instruments off of regulated markets.
Among other such provisions, the Dodd-Frank
