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Moonraker Fund Management, an independent investment boutique, is concerned that banks may have been using their bailout money to buy equities, helping to fuel a rally that is vulnerable to a major correction if they consequently sell in thinly traded markets.
Instead of lending to businesses and homebuyers, banks may have been using some of their bailout money to buy stocks from an oversold base in March, Moonraker believes.
The British Bankers’ Association’s own figures show that gross mortgage lending by the banks has fallen from a high of GBP21.5bn in June 2007 to GBP9.1bn in August 2009, while new
Gravitas Technology, a technology and solution provider to alternative investment and financial services companies, has launched The Gravitas Fractional CIO offering to provide strategic information technology guidance to hedge funds.
This is the first fractional CIO service targeted exclusively to hedge funds and private equity firms.
Chief information officers play a critical role at both large and small funds. The CIO is responsible for identifying, recommending and developing technology solutions that control the firm’s internal and external information flows and directly impact fund performance and business efficiency. A CIO is also responsible for ensuring the company’s information technology investments are
Auerbach Grayson, a New York-based brokerage firm that specialises in providing global trade execution and exclusive research to US institutional investors, has partnered with DZ Bank, one of the largest commercial banks in Germany, to provide US investors with greater access to Germany’s capital markets.
Auerbach Grayson has appointed Stephan Lueck as senior vice president of Western European equities in coordination with this effort.
Through its exclusive partnership with DZ Bank, Auerbach Grayson will have more access to German companies than other US-based brokers, while providing its US institutional clients with on-the-ground intelligence and increased coverage of investing opportunities in
Lanterne Strategic Investors Arran Fund has won the award of best long short and absolute return fund at the fifth annual Australian Hedge Fund Industry Awards ceremony.
Winners were judged by an independent group of hedge fund researchers, using a combination of quantitative and qualitative factors which were supplied by Hatfied Advisors and Petrac Financial Solutions.
Manager performance was measured using judging criteria devised to assess how Australian absolute return managers were able to meet their investment objectives and adapt to changing investment environments.
Other winners were Fortitude Capital Absolute Return Trust (best market neutral fund and Australian hedge
Yorkville Advisors, a US based investment manager to a family of funds, has invested USD15m into United Fiber System through the subscription of a series B equity line backed loan note.
The investment was sourced out of Hong Kong and made by YA Global Master SPV, a Yorkville affiliated fund.
Yorkville also entered into an agreement with Unifiber in August 2009 to extend the SGD165m equity line of credit facility between Unifiber and YA Global Investments, another Yorkville affiliated entity, to 2014. The equity line was first entered into by the parties in 2004 for SGD40m and subsequently expanded
US District Court Judge George Daniels of the Southern District of New York has entered four separate orders stemming from an investigation code-named “Operation Wooden Nickel”, an undercover law enforcement sting conducted by the Commodity Futures Trading Commission, the Federal Bureau of Investigation, the Department of Justice and the Securities and Exchange Commission.
Vito Napoletano of Staten Island, New York, Boris Shuster of Brooklyn, New York, Patrick Sweeney of Freehold, New Jersey, and Joseph Torre of Old Bridge, New Jersey were sued by the CFTC on 18 November 2003, in six civil injunctive actions for engaging in fraud in the
TradingScreen, a provider of execution management systems, has launched TradeSmart X, the next generation version of its multi-broker multi-asset class flagship product.
It will be showcased at the TradingScreen Tenth Year Anniversary Party on 24 September at the New York Nasdaq MarketSite and made available for release on 25 September.
TradingScreen’s flagship product, TradeSmart, is a customizable front-end graphical user interface that enables buy-side clients to trade a broad portfolio of financial instruments, around the clock, on any market and with a wide range of counterparties. It aggregates multiple dealers and multiple asset classes (listed and OTC) onto a single
The Irish Stock Exchange has published a series of revisions to its listing rules, which are effective from 24 September 2009.
Kinetic Partners says the revisions are a welcome and timely move by the exchange and are in keeping with its commercially aware approach to the listing regime, and its tendency to adapt quickly to changing market trends.
The exchange has also taken the opportunity to include in the new code certain policy notes that have been issued over the last number of years, including previously introduced changes related to custody requirement, counterparty risk and revisions around financial information and
Gavin St Pier, a leading figure in the fiduciary and professional services sector, has taken up the role of non-executive chairman at The Mercator Group.
St Pier (pictured right) will work with the Mercator board to develop and promote the independent Guernsey business of 30 years standing.
A chartered accountant, chartered tax adviser and barrister, St Pier was one of seven directors involved in the management buy out of Walbrook Group from Deloitte. He later became a director of Barclays Wealth after it acquired Walbrook.
He was previously a partner of KPMG and Deloitte, is a former chairman of the
NYSE Euronext’s proposal for the expansion of the Securities and Exchange Commission’s penny pilot programme, filed by NYSE Arca options, has been approved for market wide implementation by the SEC.
The approval will extend the proposed pilot through 31 December 2010, including four quarterly additions to the pilot consisting of 75 issues each.
"Representing over 85 per cent of the overall volume in US options, this expansion of the penny pilot offers many benefits to the investing public, including increased transparency, improved price discovery and reduced spreads," says Paul Finnegan, senior director, NYSE Euronext US options.
"By adding 300 new
