Latest News
More than 250 hedge fund industry leaders gathered together to raise nearly GBP250,000 at the 100 Women in Hedge Funds 2009 London Charity Gala, held on Wednesday evening in the UK Foreign & Commonwealth Office’s Locarno Suite.
All proceeds from the event go to Shine, the UK Support and Help in Education charity which works with young people who are struggling to learn or have disengaged from the educational system.
This follows an event on 29 September attended by 250 guests from the hedge fund industry in Geneva, which raised CHF135,000 for local education charity Association Païdos. The project to
Cartica Management has launched the first global emerging markets corporate governance fund.
The fund has attracted capital from one of the largest US institutional investors, as well as US family offices.
Cartica was founded by Teresa C. Barger along with Farida Khambata and Mike Lubrano, all formerly of the World Bank Group’s International Finance Corporation, and Steven J. Quamme, co-founder of Breeden Capital Management.
“Investing in listed securities in emerging markets is very different than investing in the more liquid US markets,” says Quamme. “But as these markets have matured, the investment opportunity presented by relational investing in emerging markets
Hedge funds posted a broad-based gain in September, with the HFRI Fund Weighted Composite Index rising by three per cent, according to Hedge Fund Research.
The strong third quarter gain brings the year-to-date performance of the composite to over 17 per cent, following record losses in 2008 of over 19 per cent.
All core strategies posted gains for the month, with the strongest of these from event driven with a gain of over 4.2 per cent.
Funds focusing on distressed, activist, asset backed and convertible strategies all benefited from credit spread tightening and appreciation in RMBS and CMBS securities, this
Leaders from Guernsey’s funds industry have revealed that the island is aiming to achieve equivalence with the EU in light of the proposed Directive on Alternative Investment Fund Managers.
Guernsey’s determination to maintain access to EU markets in the face of the directive was highlighted by speakers from the island at a debate in London on Tuesday evening assessing the future of the funds industry following the credit crunch and subsequent global economic downturn.
Horace Camp, a member of the Guernsey Investment Funds Association, said: “While it is unclear at the moment exactly what form the directive will ultimately take,
European Multilateral Clearing Facility and Burgundy, a regional multilateral trading facility, have introduced full mandatory central counterparty clearing services for the Nordic region.
The move recognises the growth in trading in the Nordics and increasing importance of the territory to the financial industry.
For traders this will provide more transparent and competitively priced services across Copenhagen, Helsinki, Oslo and Stockholm.
Jan Booij, chief executive of EMCF, says: “The Nordics are growing in importance as a financial centre and we are pleased to be expanding our market share to this region. Working with Burgundy enables us to extend our offering
Castlestone Management, the alternative New York and London asset manager, has launched a Ucits III-compliant version of its global macro fund, called Intelligent Portfolio Asset Allocation (Ucits) Fund.
The new fund aims to bring the advantages and performance capabilities of offshore, family office style investing to investors in the UK and Europe in a more transparent and regulated wrapper.
It is a multi-asset fund with actively managed exposure in global equity securities, global bonds, commodity markets, money market instruments, currencies, global real estate markets and hedge funds, providing diversification benefits by using low-correlated allocations.
The asset manager has designed the
J.P. Morgan has made its projections and simulations service available globally.
Part of the securities collateral management product, projections and simulations provides securities borrowers with a set of tools to assess the impact of potential changes to their portfolios, helping them minimise risk and expense while maximising returns.
Borrowers can optimise their collateral allocations by viewing the results of "what if" scenarios that analyse both actual and synthetic portfolios. They can preview the potential impact of adding new securities to the available asset pool or simulate various financing scenarios, modeling increased or decreased financing levels with each counterpart independently.
A federal court in Philadelphia has entered a consent order of permanent injunction against defendant Joseph S. Forte of Broomall, Pennsylvania after the US Commodity Futures Trading Commission charged him with fraud and misappropriation in connection with operating a USD50m commodity pool Ponzi scheme.
In the consent order, Forte admits defrauding pool participants.
The CFTC enforcement action was filed in the US District Court for the Eastern District of Pennsylvania on 27 January 2009.
The order bars Forte from trading commodity futures and options contracts and CFTC-regulated foreign currency contracts. Forte is also prohibited from soliciting funds for such trading,
Nils Bolmstrand, the recently appointed chief executive of Skandia Investment Group, has named the members of his executive team.
Former finance director Marc Bulstrode becomes SIG’s chief operating officer in charge of finance, operations and human resources, while James Millard (pictured) remains chief investment officer in charge of portfolio management and research.
Richard Vincent becomes head of propositions in charge of product development and open architecture while Rob Williams becomes global investment sales and marketing director in charge of institutional sales and business development marketing.
Roy McKean, as chief risk, legal and compliance officer, adds legal affairs to his risk
Nasdaq OMX Nordic and European Multilateral Clearing Facility have launched a full central counterparty clearing service on the Nasdaq OMX exchanges in Copenhagen, Helsinki and Stockholm.
Beginning today, Nasdaq OMX has introduced mandatory CCP on nine Nordic securities: three Finnish, Swedish and Danish stocks respectively.
The introduction of central counterparty clearing in the Nordic equity markets is part of Nasdaq OMX’s strategy to increase market liquidity by building an open, competitive CCP model in the Nordics.
Nasdaq OMX Nordic and its three CCP partners – EMCF, SIX X-clear and Euro CCP – have further agreed to achieve competitive clearing by
