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Paladyne Systems, a provider of technology and services to the hedge fund Industry, has appointed Askin Leung as director of client services for the Asia Pacific region.
Paladyne has also increased its office space in Hong Kong to support its growing staff and Asia Pacific client base.
Leung brings knowledge of the hedge fund industry in Asia and will be responsible for all client service activities including implementation, training, and regional help desk support.
Prior to joining Paladyne, Leung was head of IT for a multi-billion dollar, multi-strategy hedge fund based in Hong Kong, and was the former Asia Pacific
The Australian Securities and Investments Commission has obtained interim orders against Peter van de Steeg, Jonathan Ezzy, Peter Berlowitz and Scott Walker and their 16 associated companies due to concerns about the possible operation of a Ponzi-style scheme.
The Federal Court in Melbourne ordered that the defendants be restrained from removing from Australia, disposing of, dealing with or diminishing their assets up to the unencumbered value of AUD14.6m.
The matter will be considered further by the Court on 30 April 2010.
ASIC is concerned that the defendants may have been providing, or involved in conducting a financial services business without
Hoare Capital Markets, an agency broker focusing on the provision of OTC securities and derivatives, has made Sergio Marques and Andrew Sheppard partners and promoted Tim Cartmell to chief operating officer.
Marques (pictured) has gained experience in marketing and distributing cash and synthetic structured credit products during his time at Hoare Capital and Bank of America.
Before joining Bank of America, Marques was responsible for cash CLO structuring at Deutsche Bank. He will continue to drive ABS and structured product sales at Hoare Capital.
Sheppard brings over 23 years of fixed income trading experience to Hoare Capital from Westlb, Unibanco,
The hedge fund industry posted an estimated inflow of USD16.6bn, or 1.1 per cent of assets, in February 2010, according to TrimTabs Investment Research and BarclayHedge.
Hedge funds showed a positive return in each of the past 12 months, and industry assets stand at a 16-month high of USD1.5trn.
“Hedge funds sport a stellar win streak, and the average fund outperformed the S&P 500 last year,” says Sol Waksman, founder and president of BarclayHedge. “Money is chasing performance.”
Distressed securities funds posted the biggest inflow (4.2 per cent of assets) in February.
Emerging markets funds lost money (0.1 per cent
Thorp Alberga, a newly formed Cayman Islands boutique law firm, has opened a Hong Kong office and appointed two partners.
Richard Thorp and Harriet Unger, formerly with Maples and Calder, will lead the Asian practice.
Both are authorised by the Law Society of Hong Kong to practise Cayman Islands law in the firm’s new Hong Kong office and are also admitted in the British Virgin Islands.
Thorp is a securities and funds lawyer who has acted on a broad range of funds and general corporate matters, including the establishment of private equity and hedge funds and advising the directors and
Peregrine Financial Services, a provider of wealth and asset management solutions, has purchased 50 per cent of South Africa-based Green Oak Capital, a fixed income hedge fund management company.
Green Oak founders Willie Viljoen and Rean Smit set up the hedge fund management company within Rand Merchant Bank in 2007.
The Stellenbosch-based fixed income manager currently runs two strategies, Green Oak Fixed Income and the more aggressive Go Green Fixed Income strategy.
The Green Oak investment team has on average over 18 years’ investment management experience. Before setting up the hedge fund business, Viljoen and Smit managed an internal fixed
The US Commodity Futures Trading Commission has charged Kuen Cheol Song, a citizen of Singapore, with engaging in fictitious transactions and trading non-competitively in violation of the Commodity Exchange Act and CFTC regulations.
Song has never been registered with the CFTC.
On 6 April 2010, the same day the complaint was filed under seal in the US District Court for the Southern District of New York, the Honourable Naomi Reice Buchwald issued a restraining order freezing certain of defendant’s assets and prohibiting him from destroying documents and denying CFTC staff access to books and records.
The court set a hearing
As a result of Kenmar Global Investment Management (UK) being authorised to conduct investment business by the UK Financial Services Authority, the firm is moving forward with its global marketing plan for its Signature Advisors business.
Kenmar UK was established to raise assets for external managers under Kenmar’s Signature brand as well as raise capital for Kenmar’s multi-manager funds from institutional, corporate and other ultra high net worth investors in Europe, Asia and the Middle East.
Stephen Kingham, managing director of Kenmar UK and global head of Signature marketing, says: “The Signature model operates on the premise of identifying and
Tim Levy, chief executive of Future Capital Partners, is involved in a expedition through the Northwest Passage to raise awareness of global warming.
He will be carrying out the expedition with Bear Grylls after completing a sea survival course with RNLI experts in Poole at the weekend.
The Future Fuels Team will be departing in August on a 14 day trip through the formerly frozen Northwest Passage to raise awareness of the effects of global warming and to raise money for UK charity Global Angels.
The crew christened their custom made Zodiac RIB boat Arctic Wolf. Their new
BarclayHedge has launched an online video service that allows registered managers of hedge funds, fund of funds and managed futures funds to create and make available videotaped presentations online for current and prospective investors.
BarclayHedge, which had begun accepting applications for its new BarclayHedge TV service, will arrange and oversee all aspects of its new video service, from scripting assistance to professional videotaping and editing to online hosting and updating.
BarclayHedge has secured an opinion letter from law firm Drinker Biddle & Reath supporting the compliance of BarclayHedge TV as it pertains to various sections of the Securities Act of
