Latest News
Morgan Stanley and UBS have joined the Life & Longevity Markets Association as full members.
They join original members Axa, Deutsche Bank, J.P. Morgan, Legal & General, Pension Corporation, Prudential, RBS and Swiss Re.
The LLMA was formed to promote the development of a liquid traded market in longevity and mortality-related risk, of the type that exists for insurance linked securities, and other large trend risks like interest rates and inflation.
Since launch the association has been involved in the development of consistent standards, methodologies and benchmarks to help build a liquid trading market.
It aims to launch a consultation
Hong Kong-based Asia Pacific Investment Partners, a Mongolia investment operating company, recently completed a convertible note raising approximately USD4m.
The round was led by a Singapore-based hedge fund and also included a number of other private and institutional investors.
Founded in 2001, Asia Pacific Investment Partners holds positions in Mongolia’s real estate development, cement, and mining industries.
It also has interests in transportation, luxury development, and infrastructure development, and owns Altan San Securities, one of the country’s major stock broking firms with a seat on the small but rapidly developing Mongolian Stock Exchange.
"The majority of the financing raised in
Former high profile motivational speaker Christopher Philip Koch has been sentenced in the Melbourne County Court to 13 years and two months jail on charges brought by the Australian Securities and Investments Commission.
Koch, of Point Cook, Victoria, was found guilty on 11 June 2010 on 15 counts of obtaining property by deception and seven counts of obtaining a financial advantage by deception totalling AUD1,152,000.
Koch was also charged with one count of making an offer or invitation in a prescribed interest scheme totalling AUD1,742,000.
Between 1996 and 1999, Koch promoted a fictitious, international, high-yield investment programme where investors were
Almost two years since the near collapse of the global financial markets, President Barack Obama has signed into law the most sweeping regulatory reform legislation since the great depression – the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The most significant effect on investment advisers, who have business in the US or (in certain cases) have even tangential relationships with US investors, is the requirement to register with the US Securities and Exchange Commission.
“The expanded authority of the SEC will have a far reaching effect on the alternative investment industry, both in the US and abroad. Not only
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
