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Newedge, a provider of multi-asset brokerage and clearing services, has been granted a full futures licence by the Korea Financial Services Commission for its Korea office.
Newedge is the first foreign company out of the 19 foreign companies which applied for the licence to get approval.
With the licence, Newedge Korea is able to offer all products listed on the Korea Exchange including equities and derivatives.
It will add to Newedge Korea’s current offering – cash equity, stock index contracts and stock futures and options – all the Kofex products listed on the KRX. These include interest rate products, currency
The Investment Funds Institute of Canada says based on a sample of preliminary data from some of its members, net assets of the mutual fund industry for the month of December will be between CAD591.9bn and CAD596.9bn.
This represents an increase of approximately 1.30 per cent from November’s total of CAD586.3bn.
IFIC also estimates that net sales of mutual funds for the month of December are estimated to be between -CAD81.1m and CAD418.8m.
“Based on preliminary estimates, December 2009 ended on a positive note. Since the beginning of the year, mutual fund investors have seen their mutual fund account balances
Systematic Alpha Management, a New York-based CTA, is launching a product that aims to take advantage of short‐term directional price changes in a portfolio of over 40 global future markets, including fixed income, equity indices, currencies and commodities.
The Systematic Alpha Diversified Program strategy will attempt to deliver absolute returns in any market environment, whether up or down, with no correlation to any traditional and alternative investments, and low correlation to the Barclay CTA and STTI indices.
Unlike SAM’s flagship Systematic Alpha Futures Fund, the Systematic Alpha Diversified Program will be 100 per cent trend following.
However, in contrast to
RBC Dexia Investor Services has been selected by Advent Capital Management to provide custody, fund administration and shareholder services for a specialised investment fund in Luxembourg.
Advent Capital Management is a US-based investment management company that specialises in convertible, high yield and equity strategies offered through long only, hedge-fund and NYSE closed-end mutual fund products.
"RBC Dexia’s solid reputation and extensive experience in servicing convertible bond funds made the selection for what was best for our company pretty simple," says Bob White, chief financial officer of Advent Capital Management. "Successfully launching a fund is one thing, successfully servicing the fund
Penjing Asset Management has entered into a joint venture agreement with Triple A Partners and its affiliates to raise fresh investment capital to help seed start-up hedge funds in the Asian region.
The existing Penjing Seed Fund will be renamed the Penjing Triple A Partners Emerging Managers Fund.
Triple A Partners will become a co-investment adviser to the fund while Penjing will remain as the investment manager with key responsibilities of sourcing and selecting managers, as well as managing the fund.
Triple A Partners will have specific responsibility for marketing the vehicle and joint responsibility for helping source and structure
Macquarie Funds Group, the asset management arm of Macquarie Group, has appointed Pratap Dasgupta as a managing director in its fund-linked derivatives business, based in New York.
The hiring of Dasgupta follows the recent appointment of Mike Vitelli and together they will lead the expansion of Macquarie’s existing fund-linked derivatives business globally.
Prior to joining Macquarie, Vitelli and Dasgupta were senior members of the fund-linked derivatives team at BNP Paribas.
Macquarie’s fund-linked derivatives business provides financing to funds of hedge funds and mutual funds as well as the issuance of structured products over funds of hedge funds and mutual funds
Quant Asset Management, investment adviser to the QAM Global Equities Fund and the QAM Asian Equities Fund, has strengthened the board of both funds with the appointment of Peter Bennett as an independent director.
From 2000 to 2009 Bennett was a senior member of the management team at Gottex Fund Management where he held several posts including chairman of the research and asset allocation committees, head of Asia, and board director until his retirement in March 2009.
From 1978 to 1985 Bennett worked at Chase Manhattan Bank in both London and New York specialising in credit and commodity finance.
He
Investing in film is traditionally regarded as a risky activity, but BVI Company P&C Arcade Film Fund has developed what it says is a low-risk model for film investing.
Investment manager Christopher McGinty says: "We are replacing the banks who have all withdrawn from this market due to their lack of liquidity, by offering secure lending in first position to the global media and entertainment industry. We are delighted that the year one performance of our fund has netted investors an 11.24 per cent return after costs.
“Film producers are interested in getting their films made, almost at any price.
A new research paper from the investment funds conference producer ICBI answers key questions and sets out a number of action points for alternative investment managers as they move from the ‘noughties’ into the ‘teens’.
This paper, based on detailed research with over 40 key members of the investment community, offers insight into investor expectations moving forward, and includes the following five questions:
How does the investor see hedge funds today?
It is undeniable; the reputation of the alternatives industry has been rocked by high profile cases of fraud, pyramid schemes and insider trading, and, as a result,
International offshore law firm Harneys has appointed Sarah Dobbyn and Jonathan Law as partners in the firm’s Cayman Islands office and Johann E Henry as a partner in the British Virgin Islands.
Dobbyn (pictured) is head of the firm’s litigation and insolvency practice in the Cayman Islands and a member of the firm’s distressed funds group. She specialises in cross border insolvency and restructuring work including fraud, receiverships, asset tracing and corporate recovery.
Henry leads the firm’s BVI-based international shipping practice. He regularly acts for some of the world’s leading ship builders, yacht brokers, ship owners and charterers, financial institutions and
