Solutions
The number of hedge funds trading Puerto Rico (PR) bonds is increasing, although exposure to specific credits has become bifurcated by whether they support or oppose the new Public Corporation Debt and Enforcement Recovery Act, according to a report from Fitch Ratings.
Fitch estimates there are now over 60 alternative fund managers holding more than USD16 billion of the island's debt in aggregate.
Some of these fund managers support the Recovery Act in order to ring-fence commonwealth obligations from PR public corporations while others are suing to annul it.
On the traditional side, total US mutual fund ownership
Running a successful hedge fund trading strategy requires high levels of skill, research, idea generation and a clear understanding of market dynamics. Such perspicacity, however, is becoming just as important in how a fund’s operations run.
Regardless of how complex the operational infrastructure, quality data is the lifeblood on which a fund’s day-to-day success depends. Indeed, in the opinion of Bennett Egeth, President of Broadridge Investment Management Solutions, data is the buy-side community’s new KPI. “It impacts every aspect of a firm’s alpha generation, operational efficiency, regulatory compliance and risk management.”
Fund managers are becoming mindful of the fact that
Buttonwood Group Advisors is to list on the FNEX online alternative investment platform via its placement agent, affiliated broker-dealer Joseph Gunnar & Co.
FNEX.com provides accredited investors, investment advisors, family offices and institutions access to private investment opportunities offered by investment banks and funds across the US.
The distribution platform lists offerings and provides investors with the necessary tools to educate themselves on alternative investment opportunities. To date, FNEX has integrated with custodians, trusts and self-directed IRA platforms that represent over 400,000 accounts and over USD40 billion in assets under management, with more than 200 investment banking offices and
Imagine Software has developed a portfolio risk and compliance management system that will be used by Rothschild Larch Lane Management Company for its new alternatives 40 Act Fund.
The system will assist Rothschild Larch Lane in the management of portfolio risk and compliance with trading guidelines and restrictions and regulations applicable to a 40 Act Fund.
“Imagine was able to provide a customised, all-in-one solution to simultaneously track regulatory limits and investment risk – which is crucial in alerting us to potential breaches of guidelines and supports our ability to perform institutional-grade due diligence,” says Eric Konigsberg, director of risk
Wells Fargo Securities has received approval from the Financial Industry Regulatory Authority (FINRA) for a self-clearing brokerage providing additional financing and services solutions to alternative asset managers.
“We are committed to offering clients the full breadth of resources and solutions that can help them adapt to this evolving landscape,” says Eamon McCooey, head of Wells Fargo Securities’ Prime Services. “By adding our self-clearing capabilities as well as maintaining our introducing broker model, we are taking the next thoughtful step in building out our prime services platform. These new capabilities fit within the strong risk infrastructure run by our experienced compliance
The California Hedge Fund Association (CHFA) has added over 800 members cinches its formation in 2010 to become the industry's regional focal point for individuals who work for hedge funds and funds of hedge funds.
The CHFA has become a highly regarded non-profit, member-based organisation and has remained true to its core mission of fostering the growth and development of the hedge fund and alternative investment community in California through advocacy of sound business practices, events, resources, outreach, and educational programs. In the past year, CHFA hosted and co-presented more than 25 well-attended educational and outreach events and saw its membership soar
Carey Group has become the first listing agent in the world not based in the Cayman Islands to become a Cayman Islands Stock Exchange (CSX) listing agent.
Being based in the same time zone as London gives the Carey Group Guernsey team a significant advantage over all other CSX listing agents with respect to servicing European and MENA based clients.
As both a listing agent of the CSX and a listing member of the Channel Islands Securities Exchange (CISE), Carey Group’s Guernsey fund services business now has the unique capability to offer clients the choice of two recognised stock exchanges.
Back in February this year, buy-side institutions and their bank counterparts were required to start reporting portfolio trade positions under EMIR (European Market Infrastructure Regulation). Bloomberg moved quickly to provide its EMIR reporting solution under this first phase of reporting and is now gearing up to support customers as phase two of EMIR approaches: namely, valuation and collateral reporting, which commences 11 August 2014.
Like the trade reporting requirements introduced back in February, both the fund manager and broker/dealer will be required to report the valuations of all derivative trades to an appointed trade repository at the end of each
Ledbury Capital Partners has selected Wells Fargo Global Fund Services to provide daily fund administration and an outsourced middle and back office operations solution for the Ledbury Capital Master Fund Ltd, which launched in July 2014.
“We were impressed by Wells Fargo’s reporting capabilities and ability to work across multiple asset classes,” says Chude Chidi-Ofong, chief operating officer for Ledbury Partners. “In addition, Wells Fargo’s balance sheet, reputation and credibility in the market place was essential in giving our investors confidence in our choice of administrator.”
"The team at Ledbury Partners has significant experience in European equities and we
Eurex Group has introduced connectivity of Trade Capture Platforms (TCPs) via the enhanced Multilateral Trade Registration (MTR) Service.
The first TCPs are BrokerHub and Vectalis; ITG RFQ-hub intends to connect on 11 August.
The service expansion will increase the efficiency of block trade execution and processing for Eurex listed derivatives via an automated straight-through process (STP). Furthermore, it will enhance the transparency and audit trail throughout the trade lifecycle, from the preliminary negotiation to the final confirmation by the counterparties and acceptance by Eurex Clearing.
“We are pleased to welcome BrokerHub, ITG RFQ-hub and Vectalis as the first
