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Citi Capital Advisors has appointed Mahmood Noorani as portfolio manager for its global macro strategies team, which provides the investment management services for the CCA Global Macro Fund.
Noorani brings to the team 20 years of experience at financial institutions, including five years at BlueCrest Capital Management.
Prior to BlueCrest he was a proprietary trader at Credit Suisse in London where he spent four years.
He also spent four years as an options market maker at UBS.
Noorani will report to Kevin Bespolka, chief investment officer of the CCA Global Macro Strategies team.
The CCA Global Macro Strategies team is
Apex Fund Services, a fund administration business with over USD10bn in assets under management, is opening of an office in Abu Dhabi during the second half of 2010.
Approval has been received from the Department of Economic Development in Abu Dhabi.
The development enables Apex to build on its existing offices in Bahrain and Dubai.
Apex will be the first overseas fund administration business to locate in Abu Dhabi and it will support all types of funds and fund strategies.
As part of its strategy to be located in the same jurisdiction as the fund managers Apex works with, the
RHJ International has received approval from the Financial Services Authority to become the controller of the UK and Channel Islands private bank and wealth management group Kleinwort Benson.
This is a major landmark in the organisation’s sale process as RHJ International prepares to take ownership of the wealth manager from Commerzbank.
Robert Taylor, chief executive at Kleinwort Benson, says: “This is another important milestone for Kleinwort Benson as we work towards becoming the UK and Channel Island’s leading independently owned wealth management and fund services provider.
“We have also received confirmation from the Guernsey Financial Services Commission that they have
The 2010 Guernsey Funds Forum on 26 May in London will bring together industry experts to debate the implications of the British General Election. Hosted by ITV News Anchor, Alastair Stewart and with prominent panellists such as John Moulton the event…
More information/Register
Financial services firm Matrix has launched its first Ucits III fund.
The Matrix Asia Ucits Fund will be one of the very few pan-Asian long/short equity funds and will be managed by Rupert Foster who has 16 years experience in managing Asian long/short funds.
Foster also manages the Matrix Asia Fund, an unregulated Cayman domiciled fund which has a similar investment objective to the Matrix Asia Ucits Fund.
The Matrix Asia Ucits Fund will be able to rotate actively between China and Japan, which account for 70 per cent of the market capitalisation of the Asian stock exchanges, to
Man Group has agreed to acquire GLG Partners for USD1.9bn in an all cash transaction.
The deal is the largest acquisition by Man Group to date. Other acquisitions by the UK hedge fund firm include RMF Investment Group (USD832m), Refco Canada (USD319m) and Refco-Futures Brokerage Business (USD286m).
Japan’s fund management sector needs to develop attractive products focused on fast-growing Asian economies and shift to a more incentive-based compensation structure to attract key talent, add clients and lift profit margins, according to a white paper by Casey Quirk and the Nomura Research Institute.
The white paper, The Sun Also Rises, recommends that Japanese asset managers make significant changes in their business models to strengthen their competitive position.
While Japan’s fund managers operate in the world’s third-largest pool of professionally managed assets and enjoy favoured status at home, approximately 80 per cent of Japanese mutual funds generate insufficient fee
Sabre Fund Management is to launch a Ucits III fund, with daily liquidity, to allow access to the returns of its equity market neutral strategy, the Sabre Style Arbitrage Fund.
The market neutral fund will invest in stocks chosen from a universe of 1,500 names and capture returns that are derived from the longer term effects of economic cycling plus returns generated by short term investor behavioural activity.
The fund’s target return is eight to 12 per cent per annum.
Sabre has been trading hedge fund strategies since 1982, and quantitative strategies since 1997.
Its Sabre Style Arbitrage Fund has
Fidessa group, a provider of multi-asset trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and sell-side, is to provide access to the Santiago Stock Exchange (Bolsa de Comercio de Santiago).
The partnership is in preparation for the Santiago Stock Exchange’s trading engine upgrade that is being introduced to accommodate increasing volumes resulting from new DMA and algorithmic flows.
Fidessa’s interface with the Santiago Stock Exchange will provide member firms access to electronically route orders to the exchange via the Fidessa trading platform or by directly leveraging Fidessa’s FIX connectivity.
The connection will also provide Fidessa’s clients
The Lyxor Hedge Fund Index was up 0.92 per cent in April.
The top performing strategies over the month were fixed income arbitrage (up 3.02 per cent), L/S credit arbitrage (1.95 per cent), and convertible bonds and volatility arbitrage (1.79 per cent).
Three strategies posted a negative performance in April. L/S equity short bias fell by 1.64 per cent, L/S equity statistical arbitrage was down 1.04 per cent and L/S equity variable bias dropped 0.17 per cent.
The Lyxor Hedge Fund Index is up 2.96 per cent year-to-date.
