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Law firm Clifford Chance has elected 22 lawyers to its partnership, including three from the US.
Avrohom Gelber, Gareth Old and Jason Young all work in the firm’s New York office.
“We are happy to welcome these outstanding attorneys into our partnership," says Craig Medwick, regional managing partner for Clifford Chance in the Americas. "Avrohom, Gareth and Jason have distinguished themselves as excellent lawyers who have earned the respect and trust of clients and colleagues. Their appointments reflect our continuing investment in the US firm, and we expect them to help us continue driving growth in the Americas region."
Gelber
Standard & Poor’s and Experian are joining forces to launch a series of consumer credit default indices in the US.
The S&P/Experian Consumer Credit Default Indices, to be launched on 18 May 2010, will seek to measure the balance-weighted proportion of consumer credit accounts that go into default for the first time each month.
Unlike other publicly released metrics that recount previously defaulted loans or that measure delinquency rates only on securitised loans, the S&P/Experian Consumer Credit Default Indices are based on a broad cross-section of the entire US consumer credit population.
The indices will consist of four
Mourant du Feu & Jeune lawyers Kate Storey and Lionel Woodward have been promoted to senior associate.
Guernsey-based Storey (pictured) qualified as an English solicitor in 2000 and prior to joining Mourant was a senior associate at Cobbetts in Manchester where she gained experience of corporate and commercial transactions and was also seconded to the in-house legal function at Matalan.
She joined the Guernsey office in January 2007 as a member of the finance and funds teams and qualified as a Guernsey advocate in July 2009.
Woodward, based in Jersey, joined Mourant in February 2006 after five years practice in
Guy de Blonay has been appointed lead manager of the Jupiter Hyde Park Hedge Fund with effect from 1 June 2010.
Blonay (pictured) will take on the management of the fund from Philip Gibbs, who will become deputy fund manager.
The fund has been managed by Gibbs since its inception in March 2000 and has returned 379.6 per cent in dollar terms and has never produced a negative annual calendar year return in its ten year history.
Blonay, who has 13 years’ investment experience, joined Jupiter from Henderson New Star where he was responsible for a number of
Fortis Bank Global Clearing has extended its Market Access services to include access to the Milan Stock Exchange.
Trading companies can now access the Milan Stock Exchange using the combination of Fortis Clearing Market Access exchange connectivity and Fortis Bank Global Clearing’s membership on the exchange.
Access to the exchange is offered via a fully redundant set up operated out of two data centres in London.
Sven Diepenbach, Market Access business development manager, says: “Offering our Market Access services to Milan Stock Exchange further completes our powerful European Market Access offering and is proof of Fortis Bank Global Clearing’s strive
Aegon Asset Management is launching a Global Opportunities Fund targeting investors wanting global macro exposure.
The fund aims to provide institutional and professional retail investors with competitive absolute returns from a diversified global portfolio.
It is a Dublin registered Ucits III fund, which is available to investors in Ireland, the Netherlands, the UK and going forward across Europe.
The launch marks the integration of Aegon’s asset management businesses across the world, and this fund brings together the investment management expertise of the teams in the Netherlands and the UK.
The fund will have a discretionary global macro strategy investing in
Following a period in which high-yield corporates and equities have rallied roughly 80 per cent off their lows, much of the ‘easy money’ has already been made.
Jerry Haworth, Director, 36 South Investment Managers Ltd, examines the outlook for inflation and explains the forces that are driving economies towards a ‘bad’ inflation scenario.
It has recently been reported that the CPI rose sharply to 3.4 per cent in March, up from 3.0 per cent in February.
This rise is a sign of things to come, and we will see significant inflation in the medium term. As such, investors should be growing increasingly worried about the effect of inflation on their portfolios. Wealth creation will be replaced with wealth destruction and investment strategies that have worked for the last thirty years will
Och-Ziff Capital Management Group made a GAAP net loss of USD88.6m, or USD1.07 per basic and diluted class A share, for the first quarter ended 31 March 2010.
The company also declared a USD0.09 per share 2010 first quarter cash dividend on its class A shares.
Och-Ziff had distributable earnings of USD49.2m, or USD0.12 per adjusted class A share, for the 2010 first quarter compared to USD27.2m, or USD0.07 per adjusted class A share, for the 2009 first quarter.
Assets under management were USD25.3bn as of 1 April 2010, compared to USD23.5bn as of 1 January 2010 and USD20.3bn as
Following two consecutive quarters of capital inflows, the Asian hedge fund industry saw net redemptions of approximately USD700m in the first quarter of 2010, reflecting continued concerns about strategic and regulatory risks, according to data from Hedge Fund Research.
The USD700m in investor withdrawals was offset by a performance-based increase of USD1.5bn, resulting in total assets invested in Asia-focused hedge funds increasing to just over USD77bn.
The number of Asian hedge funds declined modestly during the quarter to 1,036.
Although the redemption was modest in a relative sense, it is a significant divergence from recent trends in the overall hedge
