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Staff changes at its Guernsey office is not a precursor to the transfer of fund administration operations outside the island, according to alternative fund service provider Butterfield Fulcrum Group.
The jobs of six staff at the firm’s Guernsey office have been terminated as a result of the implementation of new technology by the group, a spokeswoman says.
However, she insists that local concerns that there were plans to transfer funds or business away from Guernsey were unfounded. All staff affected by the changes had been offered alternative positions in other parts of the business, the spokeswoman says, but not
NYSE Liffe says total daily volume in its milling wheat futures contract passed 50,000 contracts for the first time on 22 July 2010.
Milling wheat futures reached a record of 50,165 contracts, surpassing the previous record of 43,986 contracts set on 15 July 2010.
Total combined milling wheat futures and options volume set a new record of 64,959 contracts, surpassing the previous record of 52,674 contracts set on 6 July 2010.
“The continued growth of the milling wheat futures contract is testimony to its success as a hedging instrument for the commercial market, as well as demonstrating its growing
London-based Gottex Fund Management is preparing to launch a Fund of Ucits III Funds using a SICAV structure.
A report by Alternative Ucits reveals that the number of single manager Ucits III hedge funds grew in Q2 to nearly 500; a
BoAML’s MLIS (Merrill Lynch Investments Solutions) platform is a marke
European banking giant, Credit Suisse, has made its first foray into the Fund of Ucits-III Hedge Funds arena with the lau
London-based NewSmith Capital Partners is preparing to launch a UCITS III offering, using an investment strategy that wil
Ramius, the asset management division of Cowen Group, has launched its first mutual fund, the Ramius Dynamic Replication Fund.
The product focuses on hedge fund replication that provides investors the opportunity to access market exposures typically characterised by investments in hedge funds, but with the daily liquidity of a mutual fund.
The fund is expected to commence operations by the end of the month with over USD100m in initial capital.
Thomas W. Strauss, president and chief executive of Ramius, says: "Over the past 15 years, Ramius’ asset management platform has evolved within the ever-changing investment landscape to meet increasingly sophisticated
The board of directors of The London Metal Exchange has approved the membership applications of Standard Chartered and Scotia Bank Europe to become associate broker clearing members of the LME.
Associate broker clearing members have the ability to issue and clear LME contracts.
They operate through the 24 hour inter-office telephone market and also use the exchange’s electronic trading platform, LMEselect, but are not permitted to trade in the exchange’s open outcry trading floor, the Ring.
They are members of LCH.Clearnet and are authorised by the Financial Services Authority.
LME chief executive Martin Abbott says: “We welcome Scotia Bank and
Onex has appointed Jack Yang as managing partner of Onex Credit Partners.
Onex Credit Partners specialises in managing credit-related investments, including event-driven, long/short, and market dislocation strategies.
Asset classes include bank loans, bonds, and distressed debt.
Established in November 2007, Onex Credit Partners manages approximately USD900m in assets in various products including separate accounts and an exchange-listed fund.
"Jack brings an extraordinary track record of building and managing world-class credit businesses," says Gerald Schwartz, Onex’ chairman and chief executive officer. "We have known Jack for several years, and are delighted to have him join the Onex Credit Partners’ management team.
