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The US Commodity Futures Trading Commission has obtained a preliminary injunction against defendants Beau Diamond and his company, Diamond Ventures, both of Sarasota, Florida.
The order, entered on 22 September 2009, by US District Court Judge Elizabeth A. Kovachevich in Tampa, continues the court’s 3 September asset freeze against Diamond and DV and prohibits them from further violating the Commodity Exchange Act, as charged.
The court found the preliminary injunction necessary to protect the public from further loss and damage and to enable the CFTC to fulfill its statutory duties.
The court’s order stems from a CFTC complaint filed on
Portfolio management technology will play a pivotal role in facilitating consolidation in the fund of hedge funds industry, a trend that is increasing in light of significant changes over the past year in the hedge fund world, says Richard Koppel, managing director of youDevise.
In response, youDevise is finalising new features on its Hedge Fund Information Provider (HIP), which will automate the data loading, error checking and recovery processes that youDevise currently uses to migrate different funds onto its FoHF online portfolio management platform.
In addition, youDevise is expanding HIP’s front office capabilities to provide more robust analysis, pre- and
The equity market neutral strategy is a potential diversifier given the low beta it showed to the 2008 equity markets in what was a historically volatile year, according to a paper released by Credit Suisse’s quantitative equities group.
The white paper, “Equity Market Neutral: Diversifier Across Market Cycles”, says EMN funds have been generally successful in profiting from a variety of environments and have provided an effective counterbalance in diversified portfolios during periods of market volatility, such as following the Lehman Brothers bankruptcy in September 2008.
According to the paper, EMN has lower annualized volatility than other hedge fund strategies
Guernsey saw a continuing reduction in both banking and investment funds business during the three months to the end of June, according to Guernsey Finance.
However, the island seems to be faring better than some of its competitors and local practitioners are reporting increased activity in more recent months as the general economic outlook shows signs of brightening.
Peter Niven, chief executive of Guernsey Finance, says: “The global economic downturn has been adversely impacting business flows for the past year. With both the banking and funds figures showing attrition in the three months to the end of June we can
NYSE Arca Europe has added 334 large and mid cap stocks to its current instrument list, further broadening its proposition covering 13 European indices.
From today, members of the pan-European multilateral trading facility can trade a total of 794 stocks via its ultra-low latency universal trading platform.
Robert Barnes, managing director, equities, UBS Investment Bank, says: “By extending its stock universe, NYSE Arca Europe admits for trading a list of names that more fully reflect the wider European Equities market.”
Virginie Saade, head of NYSE Arca Europe, says: “The considerable extension of our trading offer was developed in close cooperation
Alter Domus, an independent provider of outsourced administration services for multinational corporations and alternative investment funds, has officially celebrated the opening of its office in Hong Kong.
Chief executive Dominique Robyns says: "We are excited about the opening of our office in Hong Kong – one of the world’s most vibrant business centres. It is an excellent opportunity for us to provide our expertise and technologically-advanced solutions to the international businesses and investment funds that are set up here, in one of the fastest-growing economies of the world."
Established in Luxembourg over 20 years ago, Alter Domus has expanded to
Kohlberg Kravis Roberts has appointed Lee Stern, previously a managing director at GSO Capital Partners, as a director of the firm responsible for originating and structuring mezzanine investments.
Based in New York, Stern joins KKR Asset Management.
Henry R. Kravis and George R. Roberts (pictured), co-founders of KKR, said: “With more than two decades of experience in mezzanine finance, private equity and investment banking, Lee is an excellent addition to our global mezzanine efforts. As we expand our strategy to invest across the capital structure – from senior debt to equity – his expertise will be extremely valuable.”
Mezzanine debt
The first annual Capstone Global Markets charity say will be held on 1 October to support research focused on finding a cure to Batten Disease, a rare but fatal neurodegenerative disorder affecting children.
The boutique derivatives broker dealer has committed to donating 100 per cent of its net commissions that day to The Jasper Against Batten Fund.
The newly created annual event is part of Capstone’s commitment to giving back to the global community regardless of the macro financial environment. Every year, Capstone Global Markets will select specific charities to donate to, each with the common goal of helping children.
Atrato Advisors, a provider of hedge fund portfolio research, advisory and risk management solutions, has appointed Hyacinth Chu, an 11-year veteran of the prime brokerage businesses of Morgan Stanley and UBS, as a managing director.
Chu will assume a dual role at Atrato, as she will direct the firm’s business development activities while also contributing to the firm’s research efforts, particularly on the operational due diligence side.
Chu’s hiring represents continued growth for Atrato, the hedge fund consulting boutique founded late last year by Brian Reich, former head of research at Deutsche Bank Private Wealth Management and Cantor Fitzgerald.
Atrato’s
EIM, a global manager of tailor-made portfolios of hedge funds, has appointed Deutsche Bank to assist in the creation of a dedicated managed account platform.
The new initiative aims to provide clients by the end of the year with enhanced controls, transparency and risk management.
EIM and Deutsche Bank believe the initiative will offer significant enhancements for hedge fund investors.
In particular, its features will include: unconstrained access to a broad range of managers and strategies; mutually agreed and binding investment guidelines between EIM and managers; and independent administrators and custodians.
EIM will be responsible for the creation of
