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Societe Generale Securities Services and Credit Suisse (Deutschland) have signed an agreement on a partnership under which SGSS will provide Credit Suisse Asset Management in Germany with fund administration services.
Credit Suisse Asset Management in Germany has decided to outsource its fund administration business to SGSS as a dedicated partner which will provide a broad range of administrative and technological solutions to Credit Suisse (Deutschland), including front-office services (ASP), funds administration and reporting services.
Credit Suisse says this new model allows it to implement a more flexible organisation to meet the requirements of an increasingly complex and continuously changing market
Richard Fleischman & Associates, a provider of outsourced technology and IT services to alternative asset firms, outlined the eight standards of business sustainability at a recent event for hedge fund advisers and prime brokers.
Richard Fleischman, along with Omnium, a provider of administration and middle-office services for hedge funds and financial institutions, held the event at The Yale Club in New York City.
With a recent study by the Tabb Group indicating that nearly half of hedge funds believe operational controls are a top concern of investors, Donald Previti, director of business development at Richard Fleischman, said that fundamental
Kotak Mahindra (UK), a wholly owned subsidiary of India’s Kotak Mahindra Bank, is launching a fixed maturity plan to help foreign investors access the India corporate debt market.
This follows the closure in early July of Kotak Fixed Maturity Plan-I, which raised about USD140m from investors worldwide.
Kotak says international investors are increasingly looking for ways to invest in Indian corporate debt. They are attracted by the combination of safety of capital coupled with higher returns than are available from companies in western markets.
Data released by the Securities and Exchange board of India shows that foreign institutional investors invested
Convergex Group, a technology company, has appointed Sean Westley as a senior vice president of sales at NorthPoint Trading Partners, the firm’s boutique prime brokerage business.
In his new role, Westley is located in New York.
Westley brings over 12 years of relevant experience with him. Prior to joining Convergex, he worked in numerous prime brokerage capacities at UBS, Credit Suisse and Goldman Sachs. Most recently he served as an executive director in UBS’s prime services division.
Doug Nelson, chief executive officer of NorthPoint Trading Partners, says: “We are thrilled to bring someone of Sean’s calibre on board to further
The Dubai International Financial Centre Authority has welcomed a series of regulatory changes to the DIFC’s collective investment funds regime.
The changes were made following recommendations made by a panel of market practitioners and implemented by the Dubai Financial Services Authority on 11 July 2010.
Dubai International Financial Centre-based fund managers are now permitted to establish and manage funds in jurisdictions of their choice.
Fund managers from recognised jurisdictions outside the Dubai International Financial Centre can establish and manage a domestic fund without having to establish a place of business in the DIFC.
The scope for marketing of foreign funds
More than USD7.7bn in catastrophe bonds has now been listed on the Cayman Islands Stock Exchange in the British Overseas Territory.
Cayman Finance chairman Anthony Travers says the latest figures emphasise the extraordinary growth in this particular sector since 2007 when the very first cat bond was listed in Cayman.
Catastrophe bonds bring a broad range of benefits to insurers and insureds by increasing the pool of funding and reducing insurance costs to end users.
Cayman has 74 series of catastrophe bonds listed with a value of EUR7.7bn while Bermuda has ten bonds listed with a value of USD1.1bn.
Travers
The Hennessee Group has analysed its Hennessee Hedge Fund Indices to determine which strategies have outperformed the S&P 500 Index during times of crisis, and which strategies generated attractive risk-adjusted returns while providing downside protection.
In its analysis, the Hennessee Group first isolated the worst five drawdown periods for the S&P 500 Index dating back to 1993 and used the three main Hennessee Hedge Fund Sub-Indices as proxies to identify which hedge fund strategies have historically protected capital the best during strong market sell-offs.
While all hedge funds strategies provide significant downside protection, analysis shows that non-directional strategies, such as
Alvarium Capital has selected the Deltix QuantOffice and QuantServer product suite for the development and production deployment of advanced quantitative strategies.
Deltix offers a one-stop software platform for quantitative traders and portfolio managers to create, test, optimise and deploy in production alpha generation and execution strategies.
Jonathan Calvert is the president of Alvarium Capital, a hedge fund startup developing multi-horizon quantitative strategies. Calvert has used a wide variety of quantitative tools, both commercial and proprietary, over his 18 year career as a partner at GMO and portfolio manager at RiverSource Investments and Mellon Capital Management.
"The Deltix product suite provides
David Tovar has joined Skyline Capital Management as head of research.
Tovar was previously an analyst at Merrill Lynch.
Skyline Capital Management is a long/short equity specialist with significant emerging markets exposure, which plans to launch with USD50 to USD100m assets under management in November.
It was co-founded by chief investment officer Geoff Bamber, previously a senior analyst at Nevsky Capital, and chief executive Vernon West, previously head of the public sector client business at Barclays.
Derivatives exchange Eurex has for the first time exceeded the one million mark in open interest on its dividend product suite.
Dividend futures and options contracts outstanding as at 19 July stood at 1,010,417 which represent a nominal value in excess of EUR6.2bn of the dividend payments of European blue-chip companies.
Dividend based derivatives are a relatively new asset class and Eurex was the first exchange to launch equity index dividends in summer 2008.
Open interest of the dividend index derivatives stands above 636,000 contracts.
Dividend contracts on single stocks were introduced in January 2010 and they have already amassed
