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The economic slump and financial market turbulence of the past two years has focused the attention of investors on the benefits offered by managed futures strategies, which have not only delivered
Gartmore, a traditional equity and alternative asset management firm, intends to proceed with an initial public offering and application for listing of its ordinary shares to the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange.
The company believes that the offer will enhance the its profile and status with existing and potential clients and strengthen its ability to attract and retain investment talent.
Gartmore intends to use the proceeds it receives from the offer to reduce its net debt to approximately GBP150m. In addition, the offer provides the opportunity
J.P. Morgan has added its 40th derivatives collateral management client.
The firm now has more DCM clients than any other major competitor.
J.P. Morgan DCM clients are resident in markets including Canada, Denmark, Germany, Ireland, Luxembourg, the Netherlands, Norway, Switzerland, the UK and the US.
This client base includes asset managers, insurance companies, pension trusts, hedge funds, large supranational institutions, corporates, regional banks, governments and government agencies.
J.P. Morgan launched its DCM service in 2005, inaugurating the industry’s first end-to-end collateral management solution for OTC derivatives. DCM now manages balances of over USD70bn in collateral on behalf of clients.
Since
BNY Mellon Alternative Investment Services has been appointed as global custodian by The Sturgeon Fund, the Central Asia focused hedge fund managed since 2006 by Clemente Cappello.
Taco Sieburgh Sjoerdsma, who joined Sturgeon Capital as chief financial officer in June this year, says: “Through a thorough selection process, we chose to work with BNY Mellon as it is very well capitalised and has extensive emerging markets coverage. BNY Mellon’s experience, reputation and credit rating as a custodian were also key. Appointing BNY Mellon is part of an upgrade of our corporate infrastructure, which also includes opening an office in London,
Armajaro Asset Management has appointed Roxanne Sargent as co-head of sales and marketing.
Sargent will focus on the marketing of Armajaro Asset Management’s range of hedge fund strategies and work on business development initiatives.
She will report to Richard Gower, chief executive officer.
Armajaro Asset Management currently manages four hedge funds with combined assets under management in excess of USD1.5bn. Its most recent fund, the Armajaro Emerging Markets Fund, launched in July 2009 has achieved +15 per cent net return in its initial three months of trading to end September.
Sargent was previously managing director and global head
Prologue Capital, an alternative investment firm that manages a discretionary fixed income strategy, has appointed Devin Graham as chief risk officer.
He is based at the company’s headquarters in London and reports to David Lofthouse, Prologue’s chief executive.
Graham will oversee market, liquidity and counterparty risk, policy development and compliance for Prologue’s funds.
“We are delighted to have Devin on board and his expertise will add a vital new layer to our investment processes,” says Lofthouse. “Risk management is an integral part of our philosophy and this role will expand as we continue to grow.”
"The prologue
Harness Investment Management Group is launching a mutual fund, the Harness Absolute Return Fund, which is expected to commence operations on 31 December 2009.
Founded by Andre Mallegol and Don Yocham, both formerly with Pimco, Harness Investment Management Group focuses on providing alternative investment products that are aligned with the evolving needs of fiduciaries.
The firm was formed in 2008 and has offices in Portland, Oregon and Rockland, Massachusetts.
The conventional approach to investing seeks to provide excess returns relative to a benchmark that represents a particular asset class or static asset allocation. However, the goal of most investors is
Euroclear UK & Ireland and EMXCo have launched a fully electronic and integrated order routing and settlement solution for UK fund transactions.
According to HM Treasury, the UK funds industry could save GBP70m to GBP290m per year by embracing processing automation in place of paper-based fund unit settlement.
A typical distributor settling around 10,000 transactions a month may today expect to pay up to GBP50,000 per month for administering these settlements and subsequent reconciliations.
Under the new automated service, the same distributor doing the same levels of business can expect a monthly bill for all balance reconciliation, transaction management and
Gross exposures remain well below historical levels among funds of hedge funds, according to Standard & Poor’s Fund Services latest update on the sector.
S&P Fund Services lead analyst Randal Goldsmith says many funds of hedge funds are still dealing with liquidity issues beyond the recovery in equity and credit markets.
“Underlying net market exposures within FOHFs are also below historical levels, but have increased during the third quarter. In general, net exposures have moved up only gradually because hedge fund managers held in FOHFs portfolios have not been convinced on the sustainability of the rally in markets and have
The international derivatives exchange Eurex has launched its new system Release 12.
Among the most important changes coming with the release are two links to other international exchanges, further improvements in clearing, new functionalities for trading, and partly new programmed software components to further reduce latency.
Release 12 lays the technological foundation for two partnerships, the Eurex/ISE link and the link between the Korean Exchange and Eurex.
The Eurex/ISE link will provide Eurex participants with access to ISE’s product range, pending approval by the US supervisory authority, the Securities and Exchange Commission.
The Eurex/KRX link will enable Eurex clients to
