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Investment boutique Newscape Capital Group has continued its expansion with the appointment of another ex-Aberdeen Asset Management fixed income investment specialist.
Leonardo Da Costa joins Newscape’s core investment team in London as a portfolio manager where he will work alongside chief investment officer Derek Fulton, who he worked with previously at Aberdeen.
In this role he will conduct macroeconomic analysis as well as producing interest rate and yield curve views with specific responsibility for local currency emerging market debt investments. He will also contribute to the asset allocation process for Newscape’s discretionary fund management service.
The news follows the
The US Commodity Futures Trading Commission has obtained an emergency court order freezing assets held by defendants Raleigh Capital Management of Chicago and its sole principal, Richmond Hamilton, Jr., who resides in Morocco.
The court’s order also prohibits the destruction of records and appoints a receiver to identify assets, customers and amounts owed customers.
The emergency order stems from a CFTC complaint filed on 28 October 2009, in the US District Court for the Northern District of Illinois, charging RCM and Hamilton with misappropriating more than USD1m since May 2004 from the Raleigh Fund, a USD8.3m commodity pool organised by
Knight Libertas has established a global emerging markets sales team based in Connecticut, Hong Kong and London.
Effective immediately, the following have joined the institutional fixed income broker-dealer: Augusto Castilho, Eamon Tubridy, Alfredo Viegas and Elena Antonova in the US; Alesandro Gherzi, Alisa Mujagic, Nipun Ramaiya, Darren Reiss, Richard Segal and Will Trossell in the UK; and Jay Lee and Felix Sun in Asia.
"Knight is pleased to announce these hires as part of the build-out of our global emerging markets business, which will focus on names across Latin America, Eastern Europe/Russia, Africa and Asia," says Dan Mullineaux, managing director,
Man Investments and Credit Suisse have launched a managed accounts initiative in response to investors’ increased demands for transparency, liquidity and control.
The new initiative brings together Man’s managed accounts platform and portfolio management expertise with access to Credit Suisse’s structured fund linked products capability. It offers institutional investors flexible and secure investment across a broad selection of the best managers.
Under the initiative, Man Investments is responsible for the sourcing, due diligence and ongoing quality monitoring of managers.
Credit Suisse is responsible for providing risk transfer and delivery expertise to provide a choice of principal protection,
Al Noor, the Qatari media group, has launched the USD200m Al Noor Fund, an ethically based fund which will invest in international film projects.
The fund will build a library of film assets by investing in two to three high profile film projects per year over a five year period. It may fully fund these projects, or enter into co-financing, co-development, co-production and/or rights acquisition arrangements with the major studios.
Al Noor, which will act as investment adviser, has already committed USD40m to the fund and is seeking a further USD160m through a private placement with private investors. Al
The Australian Securities and Investments Commission has commenced civil proceedings in the Supreme Court of Queensland against three subsidiary companies of the formerly listed MFS (now known as Octaviar) and four former officers and one manager of MFS Investment Management.
The proceedings relate to the use of AUD147.5mi in funds of the Premium Income Fund, for which MFS Investment Management (now known as Managed Investments) was the responsible entity at the relevant time.
In taking this action, ASIC is addressing the core obligations of a responsible entity and its directors and officers to operate the fund with care and diligence,
Fidessa, a provider of multi-asset class trading, portfolio analysis, compliance, market data and connectivity solutions, has launched LatentZero as a Service, its fully managed service for the buy-side front office.
LatentZero as a Service goes beyond standard hosted or ASP products by providing a fully managed end-to-end service, and enables asset managers of all sizes to access the best available products for compliance, order and execution management and decision support across all asset classes, with substantial reductions in the total cost of ownership.
The SaaS model improves customer return on investment, as the implementation is quick, low risk, and at
Tradar, a provider of portfolio management and accounting solutions to the alternative investment management industry, has appointed Arti Hatzirodos as managing director of its Asian business.
She will be based at Tradar’s Hong Kong offices.
Before joining Tradar, Hatzirodos was employed as the chief financial officer of an event-driven hedge fund based in London, Singapore and Sydney.
She has extensive experience of hedge funds’ operational requirements, having managed a London-based start-up fund and acted as its chief operating officer. In addition, she has held posts as an operations manager and a fund accountant.
Prior to entering the alternative investment management
As the Securities Exchange Commission in the US puts pressure on measuring and defining dark pool activity, the same debate is occurring in Europe where buy-side equity traders are having a love-hate relationship with the dark.
Trading in dark environments is estimated by Tabb Group, the capital markets research and consulting firm, at 4.1 per cent of daily turnover in major European markets, forecast to increase seven per cent in 2010 as buy side traders acquire the knowledge, tools and insight to increase their confidence to trade where they cannot see.
Although the infrastructure for trading in a multi-layered,
Altin, the London and Swiss-listed fund of hedge funds, has reported an increase in net asset value of 11.16 per cent in the year to 28 October 2009.
Its shares are up 24 per cent in the year to 22 October.
Altin reduced its cash allocation from 6.3 per cent on 1 July 2009 to zero at present. This is part of an active investment programme into hedge funds to benefit from the current investment opportunities.
Altin’s portfolio features over 30 underlying funds representing ten different strategies. As of 1 October 2009, the portfolio included the following strategies: long/short equity
