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Investment manager PineBridge Investments has appointed E. Mervyn Davies, Lord Davies of Abersoch, as non-executive chairman.
Lord Davies joined the firm in August. He will be based in the UK and will work closely with the firm’s management team.
Chief executive Win J. Neuger says: “Lord Davies has considerable financial services experience and deep expertise in many of our core markets in Europe, the Middle East and Asia. I am delighted that a business leader of such global prominence and stature has decided to join the firm as we take our next steps as a newly independent entity. He is
After a strong finish at the end of July, the momentum in the Ucits hedge fund universe kept going for the first three weeks in August 2010.
Despite a drop in the last week of the month the Ucits HFS Index was able to return 0.43 per cent in August 2010.
The broad index returned 0.22 per cent, 0.24 per cent and 0.29 per cent in the first three trading weeks of August, respectively, before the last days of the month saw it lose 0.33 per cent.
This loss in week four of August was mainly due to a negative
The global fund of hedge funds industry, as represented by the largest players, saw a small decline in overall assets of 0.6 per cent in the first half of 2010.
This asset decline is in line with the average funds of hedge funds performance for the same period, according to the latest survey of the InvestHedge Billion Dollar FOHF Club.
The largest funds of funds – those with more than USD1bn in assets under management – now control a combined amount total of USD595bn in assets, according to the six monthly 2010 asset flow survey carried out by InvestHedge, a
The Hedge Fund Replication Index finished August up a mere 0.1 per cent, having given back the majority of its early gains.
However, things appear to have improved in the first few days of September, with the index repeating August’s bright start.
The latest estimate indicates an increase of 0.6 per cent for September to date, taking the year to date total to 0.7 per cent.
HSBC has appointed Amy McNally as global marketing manager for HSBC Alternative Investments, reporting to Florence Picon.
McNally joins from Barclays Wealth where she was a product specialist covering alternative investments.
Her role involved the marketing and distribution of hedge funds, private equity and real estate products both in the UK and across EMEA.
Prior to joining Barclays Wealth, McNally worked in JP Morgan Treasury Services on the sales and distribution side.
She started her career in ABN Amro Mellon working in their European sales team.
Picon says: “Alternative investments are an integral part of HSBC’s offering. HSBC has one
Matrix Group, the privately owned UK financial services business, has hired Alkesh Chohan as an analyst in its fund of hedge funds group.
Chohan joins from TCP Asset Management where he worked as an investment analyst for three years.
He will further strengthen the five-strong fund of funds team at Matrix and will be responsible for conducting thorough due diligence on prospective managers and developing existing relationships with fund managers and prime brokers.
Stuart Ratcliff (pictured), chief investment officer of Matrix’ funds of hedge funds team, says: “We are delighted to welcome Alkesh to Matrix. His addition to
General Motors has selected GlobeOp Financial Services as its service provider for daily collateral management, valuation and reconciliations across its over-the-counter derivatives portfolio.
GlobeOp will support General Motors’ treasury department with the management of foreign exchange, commodity and interest rate derivatives.
Services include collateral management, reconciliation and independent valuation analysis of complex securities.
"Reducing operational risk through diversified counterparty exposure and close collateral management is an important fundamental best practice," says Jon Anderson, GlobeOp head of valuations and OTC derivatives. "In addition to partnering with our experienced OTC group, General Motors’ treasury team will be able to monitor work flows
Insparo Asset Management has appointed emerging markets veteran Graham Stock as chief strategist.
Stock will join the core management team, led by chief investment officer Mohammed Hanif, which will be responsible for plotting the firm’s investment direction as it enters its third year.
Primarily, Stock will be responsible for generating trading ideas and thematic strategies to capture the opportunities presented by Africa and the Middle East.
Stock spent the last 12 years at JP Morgan in a range of senior roles with responsibility for areas such as Ceemea FX strategy in London and Latin American sovereign strategy in New
Simon Tortell and Associates is a leading Maltese law firm and is one of Malta’s most experienced firms in the hedge fund industry, having been directly involved with several important
Asset manager GLG Partners has appointed Mark Diab as portfolio manager.
Diab will take responsibility for Mena equities within the GLG emerging markets team and will report into Bart Turtelboom and Karim Abdel-Motaal, GLG’s co-heads of emerging markets.
“We are delighted that Mark is joining GLG – his knowledge of the Mena region, as well as his broad investment and financial services experience will be an added strength to the GLG emerging markets team. He has a fantastic investment track record and we look forward to the significant contribution that Mark will bring to the firm going forward,” says
