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Alter Domus, an independent provider of outsourced administration services to multinationals and alternative investment funds, has opened its office in Singapore.
The firm says Singapore is fast emerging as a key destination for multinational corporations and for the fund management industry.
It views Singapore as a critical component of its strategy to become a key player in the Asian administration space.
Dominique Robyns, chief executive of Alter Domus Group, says: “Opening an office in Singapore underscores our commitment to provide comprehensive support to our clients across Asia.”
Javed Rahman, managing director of the new entity, adds: “Alter Domus has maintained
Dutch hedge funds avoided most of the drawdowns in equity markets in June.
The Finles/IEX Dutch hedge fund index fell by 1.04 per cent versus a loss of 4.3 per cent for the MSCI World index.
The performance of Dutch hedge funds was slightly better than comparable liquid hedge fund indices.
As of 1 August 2010 the Finles/IEX Dutch hedge fund index consists of 28 funds.
The five best performing funds in June were World View Global Macro Fund; QTR Fund; Trade Wind Equity Fund; Antaurus Europe Fund; and IdB Real Estate Equity Fund.
The index results are calculated by
Hoare Capital Markets, the independent agency broker and financial training provider, has hired two people with experience and contacts in both European and emerging markets.
Gianluca Lesina will join the fixed income team and has 13 years of experience in the field of structured products across different asset classes.
He started his career pricing and trading Index-linked notes and swaps (both fixed income and equity), before moving onto the sales side, focusing mainly on the Italian market.
He has worked for Credit Lyonnais, Credit Suisse and Bear Stearns where he ran the Italian desk for equity structured products.
His contacts
LCH.Clearnet Group is launching clearing for Spanish government bonds and repos.
The first service will be launched on 9 August 2010 in response to market demand from both domestic and international banks.
It will be operated by LCH.Clearnet’s RepoClear service with trades settling at either Euroclear Bank or Clearstream Banking Luxembourg.
For the first time, banks trading Spanish debt will be able to benefit from anonymous bond and repo trading, reduced counterparty risk and enhanced balance sheet netting.
The service will be able to accept both electronic and voice brokered trades from multiple trading sources.
John Burke, director and head
Law firm Dechert has appointed M. Holland West, a private funds and derivatives lawyer, as a partner in the financial services practice group in New York.
West was previously at Shearman & Sterling, where he was the head of its global hedge fund, private equity, derivatives and structured finance practices.
He was also previously a partner at Cadwalader, Wickersham & Taft where he was the head of its asset management and derivatives practices, and an assistant general counsel at Goldman Sachs advising its capital markets, derivatives, and commodity businesses.
“Holland’s three decades of experience as a Wall Street lawyer adds
NYSE Euronext has reported net income of USD184m or USD0.70 per diluted share for the second quarter of 2010, compared to a net loss of USD182m or USD0.70 per diluted share for the second quarter of 2009.
Results for the second quarter of 2010 and 2009 include USD32m and USD442m, respectively, of pre-tax merger expenses and exit costs.
Second quarter of 2010 results also include a net USD54m pre-tax gain from disposal activities.
Excluding the impact of these items, net income in the second quarter of 2010 was USD167m, or USD0.64 per diluted share, compared to USD132m, or USD0.51
Backstop Solutions Group, a provider of Software-as-a-Service platforms for the alternative asset management industry, has expanded in New York and Los Angeles.
The regional offices will cater to the east and west coasts.
“In the beginning of 2010 we committed to the market that we’d expand our local presence to align with our strategic goals,” says Geoff Surkamer, global head of sales and marketing. “We are pleased to report that in the first half of the year we’ve delivered on that commitment.”
In the first six months of 2010, BSG added a record number of new hedge fund, endowment, pension,
The derivatives exchange Eurex is celebrating the first anniversary of its agriculture derivatives segment.
Since its introduction on 20 July 2009, trading volume, open interest and market interest have been rising consistently.
Since the launch, open interest for the agricultural product suite has grown more than 50 per cent: at the end of July it stood at around 5,700 contracts.
The future on European processing potatoes, in particular, has experienced significant growth with 10,512 contracts traded in July – this is the first time it has exceeded the 10,000 contract mark in a given month. Already in June, the future
The Qbasis Futures Fund, the first managed futures exchange-traded fund, has been given the go-ahead by the Financial Services Authority to be marketed in the UK.
Originally launched on 1 April on the Hamburg stock exchange, the Qbasis Futures Fund is the first ETF from Qbasis, the Liechtenstein-based managed futures hedge fund specialists.
“We think there will be considerable demand in the UK for an onshore managed futures fund, and we are now considering seeking a listing on the London Stock Exchange,” says Alistair Evans, director sales UK for Qbasis. “This would complement our existing Hamburg listing, and make the
Perella Weinberg Partners has appointed Steven Asciutto as a partner in its corporate advisory group.
Based in New York, Asciutto will focus on providing strategic and financial advice to investment managers and alternative asset managers.
Asciutto has nearly 15 years of investment banking experience. He was most recently a managing director in the financial institutions group at Bank of America Merrill Lynch, focusing on investment managers and alternative asset management firms.
Prior to that, Asciutto spent ten years at Morgan Stanley in its financial institutions group, where he served as head of the investment management advisory group.
Peter Weinberg, a
