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Channel Islands leaders are confident about relations with the new UK government – including Vince Cable, the Liberal Democrat business secretary who is renowned as a vigorous critic of “tax havens”.
Officials from Jersey and Guernsey have also found a receptive audience during recent visits to Washington to discuss issues such as financial regulation with their US counterparts and lawmakers.
Maintaining good relations with leading members of the G20 group of leading economic powers is particularly important at a time when new financial regulation is under discussion on both sides of the Atlantic and both the European Union
As more funds’ results are reported for April, average returns measured by Australian Fund Monitor’s index have increased to be outperforming the ASX200 by close to two per cent.
April seems more than a month away, and in market terms it is. The ASX200 is down over ten per cent in May month-to-date and is heading towards one of the worst months in recent history, with the potential to surpass the falls of late 2008 when the financial crisis was in full swing.
Long short managers and equity market neutral funds are likely to cushion the downside of the latest
At 08:31 GMT on 21 May, one lot (six tonnes) of three-month molybdenum was traded on LMEselect at a price of USD36,000 per tonne, taking the total amount of minor metals traded at the London Metal Exchange past the USD100m mark.
This milestone has been reached in just under three months since the exchange launched the world’s first exchange-traded futures contracts for cobalt and molybdenum on 22 February this year.
Chris Evans, head of business development at LME, says: “This is an important milestone for the contracts. It’s been an encouraging start to trading in the soft launch phase
Meet over 300 active investors including representatives from: The Wellcome Trust, CERN Pension Fund, USS, APG, BBVA Private Pension Fund, Barclays Pension Fund. Benefit from a huge range of
Hot on the heels of the UK General Election, ITV news anchor Alastair Stewart will be the keynote speaker and host of a debate on the future of ‘offshore’ at this year’s Guernsey Funds Forum event, to be held in London on 26 May. Prominent panellists will include John Moulton from Better Capital.
Further information/Register
Singapore Exchange has secured market makers for the trading of Prudential shares at their 25 May 2010 listing.
The market makers will provide two-way bid/offer quotes to enhance liquidity.
SGX expects to have a pool of liquidity providers committed to trade the shares.
Prudential shares will also be added to the central depository share borrowing facility.
Research on Prudential will be made available in Singapore.
In addition, Macquarie Bank will list a call warrant on Prudential shares listed on SGX. The call warrant has an exercise price of USD8.00, and will start trading at around the same time as the
GlobeOp Financial Services has entered into exclusive negotiations to provide front office support and middle- and back-office services to the management company of a specialist asset manager with over USD15bn in assets under management.
GlobeOp will also implement a lift-out of the management company’s current in-house support infrastructure.
The mandate does not include fund administration.
The agreement is expected to become effective in summer 2010, at which time approximately 50 employees will transfer from the management company to GlobeOp’s employment.
Fees for this lift-out are commensurate with the size and the scope of the services to be provided.
Integration of
Tor Brokerage has been launched as an agency only broker-dealer designed specifically to provide automated trading algorithms to its clients.
Tor was developed with the purpose of providing lower trading costs while filling high order volume.
Up until 2009 Tor was the trade execution platform for North Sound Capital, run by Tiger Management alumnus Thomas McAuley and Blue Hill.
According to Tor, cost reduction comes from two sources: lower commissions and smaller pricing slippage, which have an impact on both high turnover investment strategies and long-term benefits for lower trading frequency portfolios. The automated system adds an objective dimension to
Nine out of ten strategies in the Credit Suisse/Tremont Hedge Fund Broad Index posted positive returns in April as volatility increased in global equity markets, with dedicated short bias the only negative performer.
The index gained 1.24 per cent in April, with managed futures and event driven tied as the best performing strategies, each with gains of 1.89 per cent.
For event driven managers, gains were largely due to individual positions in idiosyncratic situations, such as corporations that may have recently completed restructurings or exited from bankruptcy and other holdings involved in acquisition investments.
The high yield credit market posted
The Edhec-Risk Institute believes the unilateral measures taken by Chancellor Merkel on the sovereign debt markets, both on the short selling of sovereign bonds and credit default swaps, are counterproductive, inconsistent and liable to hinder European growth.
It has made this conclusion on the basis of numerous academic studies, including the position paper published in March 2010 by Professor Abraham Lioui entitled “Spillover Effects of Counter-cyclical Market Regulation: Evidence from the 2008 Ban on Short Sales”.
Besides the fact that the lack of convergence on these issues with the US authorities leaves little hope of the measures being effective, Edhec-Risk
