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In the midst of last year’s global financial crisis, many fund executives and managers were not prepared for what lay ahead.
The concerns about Eurozone markets are being reflected in the actions of hedge funds and investors, an expert has asserted.
Butterfield Fulcrum, an administrator for the alternative investment industry, has appointed Mark Boyes as director of business development.
He is based in London and reports to Joost Lobler, Butterfield Fulcrum’s head of business development for EMEA and APAC.
Boyes will be responsible for identifying and developing strategic partnerships to help strengthen and expand Butterfield Fulcrum’s client base throughout Europe and its surrounding emerging markets.
Akshaya Bhargava (pictured), chief executive of Butterfield Fulcrum, says: “Mark is well-suited to help further leverage our tremendous growth in the EMEA region. He brings more than 15 years experience in the offshore financial services
The HFRX China Index posted a record performance gain of 50.4 per cent in 2009, as emerging Asian financial markets led the global equity market recovery from losses experienced during the financial crisis of 2008, according to data from Hedge Fund Research.
Investors allocated new capital cautiously despite strong gains for the year, with total capital in Asian hedge fund industry increasing to USD76.3bn, the highest level since the third quarter of 2008.
Despite inflows in 2H09, investors withdrew nearly USD11bn from Asian hedge funds in 2009, but these withdrawals were offset by a performance-based increase in assets under management
Sophis, a provider of cross-asset, front-to-back portfolio and risk management solutions, has named Jean-Sébastien Py as general manager for South Asia.
Py joined Sophis in 2004 and played a pivotal role in building the Sophis team and client base in Hong Kong.
Moving rapidly through the ranks from front office consultant to senior business consultant, before heading up the business consulting team for Asia, Py is now based in Singapore and has full responsibility for all activity in the region.
Py’s objective is to build Sophis’ presence in South Asia to deliver best practice in terms of consulting, support and
Olivetree Securities, a UK based equities broker, has appointed Jim Cirenza as chief executive of its US subsidiary, Olivetree USA.
Cirenza will be responsible for building the group’s US based business.
He is a senior executive with over 25 years of international experience and extensive business contacts across the UK, Europe and the US.
Prior to joining Olivetree he was global head of securities (equity and fixed income) at Carnegie Investment Bank for eight years, where he was also head of the New York office for five of those years.
Before that he was head of European sales trading in
Trax, Xtrakter’s trade matching and regulatory reporting system, processed 578 million transactions in 2009, reflecting a 105 per cent increase on 2008 figures.
Xtrakter currently processes on average 2.5 million transactions daily on behalf of its user community.
“Trax plays a vital role in reducing risk exposure, facilitating trade matching and settlement and ensuring its many subscribers fulfil their regulatory obligations. This significant increase in transaction volume highlights the value the Trax community receives from the service, its continuing importance as a matching, reporting and settlement facilitator for the capital markets as a whole,” says Yannic Weber, chief executive officer,
Dominion Corporate Group, a provider of offshore management and administration based in Jersey, has added Graeme McArthur as head of funds.
McArthur (pictured) has over 20 years’ experience of the finance sector in Jersey, initially with KPMG and then moving into fund administration with Deutsche Bank and subsequently State Street.
Most recently McArthur was chief executive at Northern Trust Jersey.
Since 2004 McArthur has also been a member of the executive committee of the Jersey Funds Association.
Dominion Corporate Group’s managing director Sue Fossey says: “We are very glad to welcome an individual of such substance and calibre
Adept Capital Partners’ Early Stage Asia Fund recorded a 14.9 per cent increase in value in 2009 with a sharpe ratio of 2.08 for the year.
This makes it a top quartile performer in Asian fund of hedge funds over its two year life to date, according to the EurekaHedge Asian fund of funds database.
The fund’s two year performance ranked 11th out of the 57 funds in its peer group with outperformance versus the MSCI Asia Pacific index of 21.2 per cent in the same period.
The Early Stage Asia Fund invests in Asian focused hedge funds
FletcherBennett Capital, a consulting firm for the hedge fund industry, has appointed Somer Hatano as director of investor coverage for Japan to specifically address the needs of Japanese institutional investors.
Hatano joins the firm with extensive experience covering Japanese investors during her 12 years in the alternative investment industry.
Prior to joining FletcherBennett, Hatano managed her own firm, Alpha Dialogue Advisors, a business development and consulting firm advising hedge funds and private equity funds in raising assets from Japanese investors.
Previously, Hatano worked in the capital introduction group at Morgan Stanley Japan in Tokyo.
In her new role,
