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Advanced Fund Administration, a private equity and hedge fund administration company, has appointed Mark Lancaster as vice president of business development, based in the Summit, New Jersey office.
His primary focus is leading AFA’s sales and marketing activities.
Lancaster is a 20 year veteran in the financial services industry. Before joining AFA, he was with Depository Trust and Clearing Corporation where he was vice president of wealth management services, responsible for developing the Alternative Investment Products service and accelerating industry use of AIP to automate alternative fund subscription, redemption and post-trade processing.
"With the experience and industry pedigree of the
NYSE Euronext, an operator of financial markets and provider of trading technologies, has reported net income of USD172m, or USD0.66 per diluted share, for the fourth quarter of 2009, compared to a net loss of USD1,338m, or USD5.06 per diluted share, for the fourth quarter of 2008.
Non-GAAP net income for the fourth quarter of 2009 was USD151m, or USD0.58 per diluted share, compared to non-GAAP net income of USD137m, or USD0.52 per diluted share for the fourth quarter of 2008.
Non-GAAP results for the fourth quarter of 2009 exclude USD44m in merger expenses and exit costs and the
Sixteen per cent of institutional investors have a current allocation to managed accounts and a further 23 per cent are considering a maiden allocation to a managed account structure over the course of 2010, according to a survey by Preqin.
Greater transparency (41 per cent), better liquidity terms (22 per cent) and increased regulatory oversight (22 per cent) were the three most common reasons stated by investors for adding managed accounts to their portfolios.
Sixty five per cent of fund of funds managers surveyed are either currently running a managed account for their clients or considering doing so in the
The CFA Institute and Edhec-Risk Institute have extended their partnership in executive education to offer their alternative asset allocation seminar in both London and New York.
The seminar, aimed at senior investment professionals, provides an understanding of the means of maximising the benefits of alternative investments for asset management and asset-liability management while controlling for their specific risks.
It will be given in London on 16–18 March 2010 and in New York on 30 March–1 April 2010.
The seminar will impart concepts and practical tools for the optimal construction and risk management of multi-style, multi-class portfolios with alternative assets.
The London Metal Exchange is to create LME Asia, opening its first overseas office in Singapore in April this year.
The LME has 26 category one and two members with offices in Singapore and is looking to more closely engage with these members and other market participants to support the use of the exchange’s existing contracts in a range of base metals, steel and plastics, and also to develop new futures contracts and partnerships.
LME Asia will be led by Liz Milan (pictured), the LME’s current commercial director, who will take on the role of managing director Asia. Milan
Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index will finish up 0.17 per cent in January, based on 74 per cent of assets reporting.
Long/short equity funds outperformed major equity markets in January, finishing down an estimated 1.70 per cent as managers’ lower net exposures protected them from the full brunt of the market correction.
Many managers would have finished in positive territory were it not for long positions in technology stocks which, despite good fundamentals, fell in January on fears over the economic recovery.
In general, equity markets reacted negatively to news of the Greek budget deficit and
Structured Solutions and 2n20.com have launched the Ucits HFS Index Series, the first index family that tracks Ucits funds applying hedge funds strategies.
The index series was developed by the Switzerland-based financial service provider 2n20.com and will be calculated by Structured Solutions.
2n20.com maintains and updates a database with all funds that are considered for the index calculation and acts as index adviser.
There will be the broad market Ucits HFS Index and an index for every sub-strategy.
The following indices will be calculated with immediate effect: Ucits HFS Index, Ucits HFS Index Arbitrage, Ucits HFS Index Convertible, Ucits HFS
Hedge funds investing in Europe have remained jittery during the past seven days, with caution evident in Greek, Spanish and Portuguese indexes.
Nautical Capital Management, an asset management company specialising in the development and management of commodity portfolios, has launched its commodity-based absolute return strategies.
The firm offers investors both systematic and discretionary absolute return and enhanced index strategies.
These commodity strategies, which are targeted to fund of funds, family offices, institutional investors and endowments, are intended to be diversified, comprehensive and tailored.
David Henritze, chief executive of Nautical Capital Management, says: “When you think of equities, you think of Fidelity, when you think of fixed income you think of Pimco and when you think of commodities we want investors to think
The Hennessee Hedge Fund Index declined 0.50 per cent in January, while the S&P 500 declined 3.70 per cent, the Dow Jones Industrial Average declined 3.46 per cent and the Nasdaq Composite Index declined 5.37 per cent.
Bonds rallied, as the Barclays Aggregate Bond Index increased 1.53 per cent.
“January was a challenging month as the equity rally was short lived and reversed course mid-month. Managers were defensively positioned with low net exposures and were able to limit losses,” says Charles Gradante, co-founder of Hennessee Group. “While 2009 was all about market beta, 2010 is going to be a year
