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Appreciation of the importance of risk management before it was brutally brought home to the industry in 2007 and 2008 was central to the ability of many of those hedge fund and fund of funds manag
Recent events in the world economy and in Western politics have led to an increase in global volatility.
The Bermuda Monetary Authority has proposed a series of changes to the general business conduct and practice code of conduct issued under the Investment Business Act 2003 that aim to improve practices among investment providers.
The project stems from a review the authority conducted in 2009 into disclosure practices prevalent throughout the industry.
The review revealed quite widespread deficiencies which were common to a number of investment providers.
The current version of the code was issued in 2004. The purpose of the code is to set out specific standards for the conduct and practice of business by investment providers.
Gottex Fund Management had assets under management of USD7.46bn at 31 March 2010, a fall of 4.3 per cent from USD7.80bn at 31 December 2009.
The decrease was primarily caused by client redemptions and technical factors, but was to a certain extent offset by subscriptions.
Total subscriptions for the quarter amounted to USD290m, of which Gottex Solutions Services subscriptions were USD120m and USD130m related to Constellar, while outflows from run-off share classes equalled USD100m and client redemptions accounted for USD290m.
Foreign exchange reduced AUM by USD80m and rebalancing had a positive impact of USD10m in Q1 2010.
A positive net
The post-trade services market value in the interest rate swaps space is expected to skyrocket from USD200m in 2009 to USD500m in 2012, according to a report by research and advisory firm Celent.
The IRS market is divided into the interdealer broker and dealer-to-client segments.
The value of the interdealer broker market in H1 2009 was USD317trn, a growth of 53 per cent since H2 2006. It is expected to grow to USD340trn by H2 2010.
Similarly, the value of the dealer-to-client market in H1 2009 was USD120trn, a growth of 41 per cent since H2 2006. It is estimated
Law firm Eversheds has launched its Irish investment funds team in Dublin headed by new partner Stephen Carty.
Carty joins Eversheds Ireland as partner and head of its Irish investment funds team.
Previously a partner in Dillon Eustace, Carty has over ten years’ experience advising in the area of investment funds, both in Ireland and overseas.
The Dublin team advises clients seeking to establish and operate Irish investment funds. It works closely with the firm’s financial institutions group in London to offer a solution to clients seeking a range of integrated legal services across the Irish and UK markets in
Belstar Group, a private investment firm specialising in alternative and hard asset investment strategies, has relocated to 1330 Avenue of the Americas, 6th Floor, New York.
The recently remodelled 8,500 square-foot office space offers greater flexibility for expansion and state-of-the-art technology capabilities at a more convenient location.
Belstar Group hired Blaze Makoid of Blaze Makoid Architecture as interior designer to further decorate and customise the space to company needs.
“Our new offices are part of our growth plans for 2010,” says Belstar Group founder and chief executive Daniel Yun.
Jones Lang LaSalle brokers Cynthia Wasserberger and Frank Doyle represented Landlord
While the crisis that afflicted the hedge fund sector in 2008 and early 2009 may be essentially over, with market conditions remaining volatile and investors still cautious, there is no prosp
Advent has been investing heavily in its platform for a number of years, working with industry leaders on building out our functionality. It is the strength of our relationships with our client partners and working with them that has led to our position in this space.
Fund accounting has become a critical component of many firms’ infrastructure. Obvious counterparty and investor due diligence concerns are leading to a stronger position for fund administrators and increasing the breadth and depth of services they are being asked to offer.
Last year’s buzzword was ‘valuations’, and this year it’s ‘middle office functionality’.
