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Throgmorton, a UK accountancy and professional services provider to the hedge fund, private equity and corporate finance industries, has added two senior tax industry practitioners to its growing team.
Raminder Chowdhary has joined as the firm’s head of VAT, while Stephen Smith has assumed the role of tax manager.
Chowdhary has joined from KPMG where he specialised in VAT matters relating to UK and European financial services. He was previously VAT manager at Vantis. Chowdhary started his career with Deloitte & Touche.
Smith joins Throgmorton from the accountancy firm Mazars where he has spent the last 12 years.
Citi Investor Services has launched a global operating platform specifically for hedge funds.
The offering provides Citi’s existing and future hedge fund administration clients a fully integrated infrastructure spanning the complete operating lifecycle of a hedge fund: from receipt of trade to daily operations, calculation of the NAV through to the generation of the investor statements.
Citi’s end-to-end solution will establish standardised applications and processes across each region.
The platform also provides support for all investment products, strategies and instruments, and is able to valuate complex securities.
“In today’s challenging hedge fund environment, access to real-time and customizable data is
Cairn Capital, the London based credit asset management and advisory firm, has assumed management of the Credaris Credit Fund, which pursues a liquid long-short strategy in European corporate credit.
Cairn and Credaris, the credit-specialist asset manager, have agreed that the investment team managing the fund will be added to the existing Cairn platform, which has over USD34.8bn in assets under management and long term advice.
The Credaris fund team has moved to Cairn, ensuring that the investment team will remain in place for investors. This will ensure the fund’s current organisation, investment processes and risk positioning remain consistent, while
Hilltop Fund Management has launched its London-based business and its alternative fund of hedge funds approach.
The All Weather Fund, managed by Rory Hills (pictured), is a fund of hedge funds designed to deliver consistent, absolute returns in all environments through a portfolio of uncorrelated hedge funds, unconstrained by investment style.
The fund, domiciled in Gibraltar, will invest in approximately 15 underlying hedge funds diversified by investment approach and geography.
Hilltop will pursue a bottom-up investment approach focused on fund selection rather than top-down asset allocation. The investment strategy of each underlying fund will be distinct and sufficiently differentiated
Fitch Ratings says hedge funds appear to be benefiting from renewed interest from institutional investors, who believe they provide better opportunities than those offered by straight equity or credit market investments.
Hedge fund inflows turned positive in the second half of 2009 and investor interest has increased, according to asset managers polled by Fitch and data vendors.
Hedge funds are now perceived as better able to exploit the current market environment, at least until more discernable market trends emerge. Hedge funds were less sought after during 2009 as most asset classes rallied.
Managers of funds of hedge funds, still a
Joachim Gottschalk, chairman and chief executive of Gottex Fund Management, will tell shareholders at the company’s annual general meeting today that its core market neutral and portable alpha strategies outperformed their relevant indices and benchmarks by substantial margins in 2009.
Gottschalk will also say that 2009 was an unpredictable year, which included an extraordinary rally in global capital markets and outstanding performance for hedge funds in general.
“It is our view that the strong performance by hedge funds in 2009 will translate into institutional inflows for the industry as the year progresses, followed by inflows from private investors in the
Appleby, a provider of offshore legal, fiduciary and administration services, is opening its office in Guernsey today.
The group will now have 81 partners, 215 lawyers and over 800 staff worldwide.
The new office will practise Guernsey law with a focus on corporate and commercial law, private client and trust matters, litigation, insolvency and restructuring and, following approval by the Guernsey Financial Services Commission, will offer a range of fiduciary services.
Appleby Guernsey will initially comprise corporate and commercial group partners Barney Lee and Helen Crossley, litigation partner Jeremy Le Tissier and private client and trust partner Gavin Ferguson, each
The Scotia Capital Canadian Hedge Fund Performance Index finished March 2010 up 1.78 per cent on an asset weighted basis and up 1.33 per cent on an equal weighted basis.
The index underperformed major global equities and broader hedge fund indices on both an asset and equal weighted basis.
Global capital markets rallied strongly in March as appetite for risky assets increased against a decline in volatility. The trading environment was influenced by the key themes of positive corporate earnings, stabilizing fundamental economic data, and speculation that the European Union and the International Monetary Fund would collaborate on an aid
Keeley Asset Management has launched the Keeley Alternative Value Fund, which aims to achieve long-term capital appreciation as well as protect capital during adverse market conditions.
The fund will be managed using an alternative strategy, combining the research experience of Keeley Asset Management with the active risk management techniques of the fund’s sub-adviser, Broadmark Asset Management.
The fund will seek to provide incremental downside market protection through Broadmark’s tactical hedging process.
The fund will complement the firm’s flagship product, the Keeley Small Cap Value Fund, as well as the Keeley Mid Cap Value Fund, Keeley Small-Mid Cap Value, Keeley All
Barclays Capital’s Research Analysis Driven Absolute Return strategy has celebrated its first anniversary with a return of 29.7 per cent net of fees.
Managed by Barclays Capital’s in-house fund manager, Barclays Capital Fund Solutions, Radar is a long/short macro tactical asset allocation strategy designed to provide stable absolute positive returns from a diversified pool of global assets.
The fund draws on the expertise of the 800-strong Barclays Capital research team and takes strategic advice from the global asset allocation team headed by Tim Bond.
Launched in March 2009, the USD105m fund has recorded ten positive months stretching from March
