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Joe Seet (pictured), senior partner at Sigma Partnership, comments on the proposed restrictions on hedge fund managers’ pay in the latest draft of the EU’s Directive on Alternative Investment Fund Managers.
Any inclusion in the AIFM directive to restrict hedge fund managers’ pay will be unworkable and counterproductive as most UK managers operate as Limited Liability Partnerships (LLPs).
If the mooted restrictions are included in the AIFM, they must fall into line with proposals coming out of the US. Current proposals in the US state that managers will need to disclose general incentive-based compensation arrangements – not the compensation packages
Risk analytics provider Measurisk, an affiliate of J.P. Morgan Worldwide Securities Services, has entered into an agreement to make its risk transparency information available to clients of Aksia, an independent hedge fund research and advisory firm headquartered in New York.
Measurisk models the full positions of over 1,000 hedge funds, making it the largest position-based hedge fund analytical platform in the industry.
Jim Vos, chief executive of Aksia, says: “We are excited to now be able to offer position-based independent risk transparency to Aksia’s clients. Measurisk’s ability to price and model complex instruments including OTC derivatives, credit instruments and
Butterfield Fulcrum, an independent alternative fund administration company, has been selected as the exclusive third-party administrator for Flintlock Capital Asset Management, a discretionary global commodities manager set to launch in early 2010.
"We look to differentiate our fund by being liquid, transparent and understandable," says David Walker, chief operating officer of Flintlock Capital Asset Management. "Butterfield Fulcrum’s real-time reporting of daily operations is integral to our value proposition."
Flintlock Capital Asset Management selected Butterfield Fulcrum to provide month-end reporting services following a comprehensive administrator search.
"Flintlock Capital Asset Management is indicative of a new generation of hedge funds looking to
Just when you thought that the guards had at last wrested control of the asylum back from the inmates, here comes another proposed feature of the European Union’s proposed Directive on Alternative Investment Fund Managers that takes one’s breath away.
Not content with amendments that would all but bar non-EU funds from the European market, the Swedish presidency has announced plans to incorporate rules limiting the earnings of hedge fund managers and private equity partners similar to those mooted for bankers.
Why? Apparently the Swedes and other European governments have become convinced that in the same way that excessive remuneration
Cairn Capital, the London based credit asset management and advisory firm, has joined forces with Oyster Funds, the Luxembourg fund family of Swiss banking group Syz & Co, to launch a corporate credit fund under the Ucits III framework.
The new fund, Oyster Credit Opportunities, is a long/short corporate credit fund, targeting returns in excess of Euribor + 200bp in normal markets and in excess of Euribor + 300-500bp in more volatile markets.
It is aimed both at institutions and intermediaries such as family offices acting on behalf of individuals.
Cairn Capital is responsible for managing the fund, while Syz
Entrex has entered into an exclusive relationship with Sinova Capital Group, a Hong Kong-based cross-border investment banking and alternative asset management firm, to establish an Entrex capital market system for private companies across the Greater China region.
It will also create a broad market based Entrex/Chinese Private Company Index.
Stephen H. Watkins, chief executive of Entrex, says: "It is an exciting time as we’ve demonstrated domestically to investors how TIGRcubs protect institutional investors’ interest in a cross-section of private company investing, while separately offering a simple solution to company issuers with standardised and institutionalised documents with an optional trading platform
The aim of this document is to show the real life application of the ‘Style Analysis’ feature applied to a hedge fund claiming to deliver alpha.
Advent Software has entered into an agreement with Virtus Partners to integrate Geneva, its portfolio management and fund accounting solution, with Virtus’ bank loan data offering.
Through this relationship, Advent’s Geneva clients will have access to automated loan data feeds from Virtus.
With assets under administration of more than USD60bn, Virtus is a provider of data and services to the fixed ncome market. Specifically, Virtus offers fixed income asset administration and middle-office services to managers, hedge funds, and private equity groups across a wide spectrum of structures, including separate accounts, hedge funds, total return swaps and collateralised loan obligations.
Advent
Following a year in which the hedge fund industry suffered one of its worst periods on record, there are clear signs that a recovery is underway with hedge fund employee compensation on the rise, according to a report by Glocap Search and HedgeWorld.
In addition to raising compensation over 2008 levels, funds have begun hiring again.
Adam Zoia, chief executive at Glocap, says while it may be surprising to hear that hedge fund compensation is on the rise, especially given that some funds have still not passed their high water marks, the increases are logical given that they are in
A federal court has entered an order freezing assets held by defendant David A. Owen, of Destin, Florida following a Commodity Futures Trading Commission anti-fraud enforcement action filed on 30 October 2009.
The action in the US District Court for the Northern District of Florida charged Owen with fraudulently soliciting at least USD2.5m from at least nine individuals to participate in commodity futures pools that he operated under the name of Oasis Futures.
The CFTC complaint alleges that Owen misappropriated approximately USD800,000 of customer funds for his personal use and to return funds to pool participants. Owen allegedly did not
