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The PowerShares Listed Private Equity Portfolio will begin tracking the Global Listed Private Equity Index, and will be renamed the PowerShares Global Listed Private Equity Portfolio.
The fund will continue to be offered on the NYSE Arca under the existing ticker symbol PSP. The fund had previously tracked the Red Rocks Capital Listed Private Equity Index.
"The universe of publicly-listed private equity opportunities outside the US is quite significant, and we are pleased to be broadening the scope of PSP to provide investors with a global exposure to this asset class," says Ben Fulton, executive vice president global product development
Butterfield Fulcrum Group (Ireland), an alternative fund administration company, has been licensed to provide fund administration services by the Irish Financial Services Regulatory Authority.
Based in Dublin, Butterfield Fulcrum Group (Ireland) is now authorised under Section 10 of the Investment Intermediaries Act to provide administration services to collective investment schemes either domiciled in Ireland or offshore, including valuation services, fund accounting services, transfer agency and share registry.
The company will be able to provide these services to Irish authorised funds both Ucits and non-Ucits.
"Approximately one third of all hedge funds globally are serviced in Ireland," says Akshaya Bhargava (pictured),
Cogent Consulting has released a free version of its HedgeTrak web-based broker review and evaluation service for hedge funds.
HedgeTrak Lite enables hedge funds to value trading and research services provided by their brokerage firms, in anticipation of upcoming registration requirements.
HedgeTrak Lite is being released in the wake of a new generation of hedge funds being launched, demands for increased transparency around the use of research and the commission sharing arrangements used to pay for them, and the SEC’s proposed registration requirements for hedge funds.
It is based on the full version of HedgeTrak and ResearchTrak which are used
LCH.Clearnet and the European Multilateral Clearing Facility have signed a master link agreement to achieve interoperability by November 2009.
In November trading participants on Chi-X and Bats Europe will be able to choose where their UK and Swiss equity trades are cleared, which the companies says will maximise value to users and ensure the highest standards of risk management.
Interoperability will bring advantages to the European equities environment, delivering greater efficiency, reduced costs and a wider choice of clearer for the trading community, the companies say.
Wayne Eagle, director, equity services at LCH.Clearnet, says: “We have made excellent progress since
Man Group has reported sales of USD5.7bn for the last six months, including USD2bn in the most recent quarter.
Total funds under management were estimated to be at USD43.8bn for the six month period, compared to USD43.3bn as at 30 June 2009.
Man sold an estimated USD5.0bn to private investors in the six months to 30 September 2009, including estimated private investor sales of USD1.6bn in the second quarter.
It experienced strong demand for its products throughout its distribution network, with good flows from Japan, Hong Kong, the Middle East, Europe and Latin America.
Redemption levels were materially lower
Vitech Systems, a provider of software and services to the alternative asset community, has signed seven new clients to the Equitrak platform during the first half of 2009.
These clients include Caledon Capital Management, IDeA Capital Funds SGR, Hauck & Aufhauser, and Thomas Weisel Partners Group.
Equitrak is a multi-lingual, multi-GAAP, and multi-currency fund administration solution.
"Vitech is extremely excited by Equitrak’s strength in the marketplace, with clients in ten countries including the US, Canada, Switzerland, Luxembourg, Singapore, and China," says Frank Vitiello, president of Vitech Systems. "Equitrak continues to lead the marketplace and deliver superior fund administration features. Its
EFG Private Bank, the London-based subsidiary of EFG International, has launched a fixed income fund in conjunction with Stratton Street Capital.
This builds on a longstanding collaboration between the two firms in relation to various fixed income initiatives.
The New Capital Wealthy Nations Bond Fund is an Irish-domiciled Ucits fund with daily dealing, which aims to provide a superior risk/reward profile and a relatively high yield. The model portfolio of the new fund has a gross redemption yield of eight per cent while maintaining an average credit quality of Single A.
EFG Private Bank’s chief investment officer, Mozamil Afzal (pictured),
Northern Trust has appointed David Lester as head of the institutional sales effort for asset management at NT Global Advisors, Canada.
Lester comes to Northern Trust from SEI Investments and his primary focus will be on manager-of-managers investment products, including total investment management and administrative outsourcing solutions, for Canadian pension plans, charitable organisations, and other institutions.
In addition, Lester will have responsibility for marketing Northern Trust’s investment capabilities, including global index and alternative investment products.
"David is an experienced professional with a lot of credibility in the Canadian marketplace, and we are thrilled to have him lead the business development
Hong Kong-based hedge funds of funds shop Infiniti Capital has introduced a new way to quantitatively rank the risk adjusted returns of hedge funds.
The new ranking method, called the Infiniti Single Fund Analysis score, is included as a risk adjusted performance measure in Infiniti’s recently launched Infiniti Analytics Suite.
Peter Urbani, Infiniti chief investment officer and Infiniti Analytics Suite project originator, says: “We believe this method to be superior to most others in use. There is always general skepticism about new methods and a reluctance to adopt them due to corporate inertia. However, the proof of the pudding is
KKR has appointed Jonathan R. Levin to the newly created position of treasurer and head of investor relations.
As treasurer, he will be involved in the oversight of the firm’s balance sheet, including the USD3bn in net assets it is expected to receive as a result of its combination transaction with KKR Private Equity Investors.
Henry R. Kravis and George R. Roberts, co-founders of KKR, said: “Jon’s new roles are important steps that will maximize the value of our capital for our investors, strengthen oversight within KKR and ensure a constructive and robust dialogue with public investors. Jon is well
