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BNY Mellon Alternative Investment Services has been appointed by Swiss Capital Alternative Investments to provide fund administration and custody services for its Irish domiciled fund of managed accounts.
Marcel Schindler, senior partner and head products at Swiss Capital, says: “We selected BNY Mellon to provide services following a competitive review. BNY Mellon has considerable expertise in both corporate trust and alternative investment services and their ability to combine these demonstrated their capability in servicing this deal.”
Brian Ruane (pictured), chief executive officer of alternative investment services at BNY Mellon, adds: “Winning this significant piece of business underscores our recent
The US and European exchange-traded product market is expected to grow by 20 per cent in 2010, crossing the USD1.2trn assets under management mark, according to a report by Deutsche Bank.
Europe assets will approach the EUR2,000bn mark and experience growth between 20-25 per cent.
The US will surpass the USD900bn mark and experience growth of between 15 and 20 per cent.
If bullish equity markets continue, AUM could comfortably get closer to USD1,000bn in the US and EUR210bn in Europe, says Deutsche Bank.
European asset growth rates will continue to surpass the US, while the US market will remain
The five daily trailing TSI Worldwide Index through 7 January was a somewhat bullish 52.78, with North America a stronger 54.80 and the UK a neutral 50.77.
All three signals showed a strong rebound from the week before, up 43.9 per cent for North America, 34.5 per cent for the UK, and 22.9 per cent worldwide.
In part, this reflected favourable comparisons as institutional brokers and their clients on both sides of the Atlantic significantly reduced trading the second half of December, having locked in their profits for the year, causing sentiment to fall.
At 73.46 per cent, the percentage
The US futures industry is set to rebound in 2010 after trading volume suffered its first decline since 1995, according to a study by Tabb Group.
The combination of stricter risk controls across the brokerage industry and closure of hedge and proprietary trading funds were key factors behind the 23 per cent volume decline in 2009.
Based on Tabb estimates, trading is projected to surge 14 per cent in 2010 as interest rate volume recovers.
While risk management has always been critical, traders tell Tabb they have a new view of risk and reward, says Andy Nybo, a principal
The Managed Funds Association is planning to gather information from hedge funds, funds of funds and managed futures funds for use in its industry education and advocacy efforts using PerTrac P-Card.
P-Cards are secure email attachments that can contain an array of manager-designated data such as strategy descriptions, investment terms, portfolio exposure data and investment returns.
Richard H. Baker (pictured), MFA president and chief executive, says: "As the primary source of industry information for policy makers, the media and the public, it’s important that we collect and aggregate data in a confidential and timely manner from as many managers as
British Virgin Islands-based investment manager Bluenose Capital Management is on schedule to launch the onshore version of its flagship offshore fund on 1 March.
The Delaware-domiciled fund is aimed at US accredited and qualified investors.
The objective is to generate an annualized compound rate of return of 15 per cent with lower downside volatility versus the S&P500 and TSX benchmarks.
Using proprietary multi-factor models, the fund will engage in short-term market neutral trading in Canadian and US liquid exchange-listed securities. The fund has a capacity of USD700m at the trading level.
Bluenose’s JS Pelletier and Dario Borelli will be at
BarclayHedge has revealed the names of the 12 currency programmes that will comprise the Barclay BTOP FX Index for the year 2010.
Launched in January 2005, the BTOP FX is the first daily index of currency traders and has monitored selected trader’s returns on a daily basis for the past five years.
The 2010 Barclay BTOP FX Index Components are:
• FX Concepts – Multi-Strategy Programme
• FX Concepts – Global Currency Programme
• C-View – 3X Levered Programme
• Cambridge Strategy (Asset Management) – Extended Markets Programme
• QFS Asset Management – QFS Currency Programme
• Currency Insight – Diversified Systematic Programme
• Premium Currency Advisors
The Bahamas has concluded Tax Information Exchange Agreement negotiations with 23 countries, signed ten agreements and will meet the G20/OECD’s March 2010 deadline of a minimum of 12 signed agreements.
To date, The Bahamas has signed ten TIEAs with the US, Great Britain and Northern Ireland, China, France, New Zealand, Argentina, Belgium, the Netherlands, Monaco and San Marino.
TIEA negotiations have been successfully concluded with Germany, Canada, Spain, Mexico, Australia, South Africa, South Korea, and the seven Nordic countries of Norway, Sweden, Finland, Denmark, Iceland, Greenland and Faroe Islands.
Signature on agreements by countries with whom The Bahamas has concluded
Veritas Asset Management is making its global hedge fund available to retail and institutional investors for the first time.
The GBP30m fund had previously only been available to a small group of investors including the firm’s partners and discretionary private clients.
The fund has returned 68 per cent GBP Class since inception against the MSCI World Index performance of 38.39 per cent.
The fund, which has now been restructured as a Ucits III vehicle and has been re-named the Veritas Global Real Return Fund, was launched at the beginning of January and offers daily liquidity. The first dealing day
BNY Mellon has been appointed by GLG MMI, the fund of hedge fund division at GLG Partners, as custodian and fund administrator for its entire fund of hedge fund business.
The company previously shared the business with another provider.
BNY Mellon’s approach to fund of hedge funds and the integration of its technology allows hedge fund managers to focus on their core competency of managing money.
BNY Mellon sees fund of hedge funds as a dedicated line of business with it own specific operational requirements and not simply a subset of hedge funds. Its fund of hedge fund
