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Northern Trust has enhanced its Hedge Fund Monitor solution with the addition of a new compliance module designed to support the unique demands of UCITS funds-of-hedge funds.
"Our latest Hedge Fund Monitor enhancement helps fund managers running UCITS funds-of-hedge funds to monitor their compliance with restrictions on liquidity, concentration risk and exposure to underlying non-UCITS funds," says Ian Headon (pictured), senior product manager for alternative asset servicing at Northern Trust. "In addition to real time, customised investment compliance measurement and performance and liquidity reporting, we have added functions specific to restrictions and guidelines relating to UCITS funds. This assists managers
The Blackstone Group has completed the initial public offering of Blackstone/GSO Senior Floating Rate Term Fund.
The fund’s primary investment objective is to seek high current income with a secondary objective of preservation of capital, consistent with its primary goal of high current income.
The fund issued USD280m in its common share offering, excluding the underwriters’ option to purchase additional shares.
GSO/Blackstone Debt Funds Management, a subsidiary of The Blackstone Group, is the fund’s investment adviser. The lead managers of the common share underwriting syndicate were Morgan Stanley, Citi, BofA Merrill Lynch, UBS Investment Bank, and Wells Fargo Securities.
"We
Iveagh Private Investment House, the Guinness family office and asset manager, and 47 Degrees North Capital Management, an alternative investment provider, have launched the Iveagh Newcits Fund.
The fund offers investors access to a diversified portfolio of Ucits regulated absolute return strategies, known as Newcits funds.
It will focus solely on absolute return strategies employing a global, multi-strategy portfolio allocation.
47, as sub-adviser for the fund, selects and recommends the underlying funds based on its fundamental bottom-up research methodology. Iveagh and 47 construct the portfolio in collaboration maintaining a focus on stable absolute return potential and diversification, even in turbulent
The US Commodity Futures Trading Commission (CFTC) has obtained a USD1.4 million civil monetary penalty against David A Owen of Destin, Florida, in a commodity fraud action.
The consent federal court order entered by US District Court Judge M. Casey Rodgers of the Northern District of Florida, recognizes that Owen paid approximately USD1.7 million in restitution in a related criminal action and permanently bans him from engaging in certain commodity-related activities, including trading on registered entities.
The order, which arises out of the CFTC complaint filed on October 30, 2009, finds that Owen fraudulently solicited at least USD2.5 million
Kinetic Partners, the professional services consultancy focused on the wider asset management industry, has marked its fifth anniversary by reporting record growth.
Established in 2005, Kinetic Partners provides the asset management industry and investment firms with a bespoke service for clients who need in-depth industry advice, analysis and valuation across borders.
The firm has offices in London, Dublin, Cayman, New York and Geneva. It plans to enter the Asia market with a Hong Kong office set to open later this year.
Kinetic Partners has recorded its most successful year to date with revenue growth of 25 per cent and a
The value of investment funds in Guernsey increased by GBP13.2bn (7.2%) during the first three months of this year, according to the latest figures released by Guernsey Finance.
The third successive quarter of growth takes the total value of funds business in the Island to GBP197.4bn at the end of March 2010 – a year on year rise of GBP21.5bn (12.2%).
“We can continue to be cautiously optimistic about our funds industry,” says Peter Niven (pictured), Chief Executive of Guernsey Finance. “Global economic conditions remain fragile and will be for some time to come so we cannot afford to
A survey of fund of fund managers and executives by accounting and advisory services firm Rothstein Kass suggests that the industry expects intense competition for investment capital as firms work to enhance transparency.
Nearly half of survey respondents indicated that they anticipate increased competition from single manager vehicles, and over 45 per cent expect greater competition from institutional investors replicating fund of funds.
As the sector confronts this challenge, 60 per cent of funds of funds are providing greater transparency to investors in response to market conditions.
"The growth of the fund of funds sector was propelled by its ability
London’s investment community has been reassured that Guernsey is confident of continuing to be a leading funds centre despite current uncertainties, including the EU’s proposed Alternative Investment Fund Managers Directive.
More than 250 delegates attended the Guernsey Funds Forum which was held on Wednesday at the Grange St. Pauls Hotel.
Peter Niven, chief executive of Guernsey Finance, says: “This event was aimed at reassuring our key supporters in London that we are dealing positively with a number of current uncertainties, in particular the AIFM Directive, and as a result of this work, the Island continues to be an attractive and
New research from the European School of Management & Technology (ESMT), in collaboration with the Rotterdam School of Management, has highlighted a worrying disconnect in the behaviour of investors in hedge funds and the subsequent performance of their investments, typically resulting in poor or volatile performance and exposure to unnecessary risk.
In a study of hedge fund performance according to investment style, covering 1,543 hedge funds over 10 years, ESMT’s research raises disturbing questions about the way that hedge fund investors invest and their willingness to actively chase performance at all costs, irrespective of the potential level of risk to
Sales of absolute and total return funds, which aim to achieve positive returns in all market conditions, have soared in some parts of Europe this year, according to Lipper.
In the first quarter, they attracted net inflows of EUR9.7bn compared to EUR11bn during the whole of last year.
For investors, the attraction of the funds has been boosted by a combination of low interest rates, economic uncertainty and stock market volatility.
Among product providers, hedge fund managers see absolute return funds as an opportunity to move into the mainstream mutual fund market.
The top selling absolute return fund in
