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In an environment in which investors are less willing to take the honesty, investment expertise and operational efficiency of fund managers at face value, the interaction and collaboration of independent service providers is more crucial than ever to maintaining the appeal of offshore funds to institutions and other sophisticated investors, according to speakers at recent seminars in Zurich and Frankfurt on the outlook and opportunities for the industry in the wake of the financial crisis of the past two years.
The seminars, organised by international fund administrator Ifina and featuring speakers from service providers including law firms, auditors, banks, brokers
One of the guiding principles that has made the BVI the globally respected financial centre it is today is partnership between the private and public sectors. A close spirit of collaboration has enabled the jurisdiction to the requirements of an ever-changing global financial services industry.
This partnership has been all the more crucial following 12 months that have rocked the foundations of the financial industry across the world. Offshore centres have come up against a growing storm of criticism and blame for the wider economic crisis – as opposed to the onshore centres where most of the problems actually arose.
The financial crisis and the Madoff scandal have subjected the fund industry to unprecedented scrutiny.
The economic meltdown of the past two years has seen unprecedented redemptions from funds and other investments and a rush to liquidity – bringing to light a string of scandals including frau
The offshore fund sector, from managers and their service providers to the world’s leading offshore domiciles, has not been left in disarray by the economic and financial crisis that began mo
For fund managers and promoters, banking and administration are key functions that impact directly on the day-to-day administration of the fund.
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,
