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Alternative Advisors, a London based investment boutique, has launched the Castillon Diversified Fund, a regulated Ucits III multi-manager investment vehicle.
The fund’s objective is to generate attractive absolute returns whilst ensuring that capital is preserved in any market condition by investing in Ucits compliant absolute return funds and regulated financial instruments.
The Ucits III regulation offers investors a strongly regulated framework, more transparency and better liquidity terms while maintaining the benefits of an absolute returns vehicle.
Castillon Diversified Fund is a sub-fund of the Whitefleet umbrella, a Luxembourg Sicav part I Ucits III. The fund will be launched on 16
The Lyxor Global Hedge Fund index, an investable index based on Lyxor’s hedge fund platform which tracks the overall hedge fund universe, was down 2.2 per cent in May.
Year-to-date the index remains in positive territory, up 0.7 per cent.
Risky assets got hammered during the month of May and so were most alternative investment strategies. The month started on the downward trend registered the month before. Sovereign fears marked a pause for just three days in the aftermath of the decision taken by European heads of government on 9 May to set up a coordinated rescue package.
The subsequent
The International Organization of Securities Commissions has published its revised Objectives and Principles of Securities Regulation to incorporate eight new principles, based on the lessons learned from the recent financial crisis and subsequent changes in the regulatory environment.
The eight new principles cover specific policy areas such as hedge funds, credit rating agencies and auditor independence and oversight, in addition to broader areas including monitoring, mitigating and managing systemic risk; regularly reviewing the perimeter of regulation; and requiring that conflicts of interest and misalignment of incentives are avoided, eliminated, disclosed or otherwise managed.
The principles, which are an agreed set
The Commodity Futures Trading Commission has proposed a rule that specifies requirements for designated contract markets, derivatives transaction execution facilities and exempt commercial markets that list significant price discovery contracts and offer co-location and/or proximity hosting services to market participants.
The proposal includes provisions relating to equal access, fees, latency transparency and third party proximity hosting service providers.
The proposed rule is scheduled to be published in the Federal Register on 11 June 2010.
Specifically, the provision relating to equal access would require that co-location and proximity hosting services be available to all qualified market participants willing to pay for
Fortress Investment Group has closed its first Yen denominated opportunity fund, Fortress Japan Opportunity Domestic Fund, at JPY75bn.
The close brings the fund all the way to its cap of USD800m.
The fund has already invested approximately JPY20bn (USD200m) in three transactions, and has committed to one additional transaction which is expected to close by the end of the second quarter.
The fund will invest primarily in real estate-related debt and other assets in Japan, and is expected to be fully invested over the next 12 months.
Daniel Mudd, Fortress’s chief executive officer, says: "This successful close exemplifies our ability
BNY Mellon Alternative Investment Services has introduced enhanced accounting and reporting functionality for side pocket accounts and special purpose vehicles.
The service offers hedge fund managers greater flexibility in structuring their funds and managing illiquid or long-term assets.
Delivered via BNY Mellon’s fund accounting platform, Praeeo, the automated service enables fund managers to segregate illiquid investments.
Capital and/or earned income, along with applicable profit-carry forward, can be automatically moved from the side pocket to the main or "trading" portfolio, giving fund managers more ways to manage realised events within the side pocket.
In addition, flexible investor statement options allow hedge
Dechert plans to open an office in Dublin, making it one of a handful of international law firms to establish a presence in Ireland and the first major onshore transatlantic funds practice to do so in Dublin.
The office will focus on advising investment funds, their investment managers and other fund service providers.
Ireland has become a major centre for investment funds because of favourable tax treatment, regulatory structures, expertise of local service providers and appeal to investors concerned about sound regulatory oversight.
Declan O’Sullivan (pictured), who previously led the alternative investment practice at Irish firm William Fry, has joined
Investment managers must take lessons from the credit crunch to their portfolios, Collins Stewart’s global strategist told a wealth management conference in Guernsey this week.
Modern portfolio theory failed prior to the crisis because it did not account for the fact that at times of extra stress risk levels rise and correlations are not constant, according to Robert Jukes, a strategist who works with portfolio managers and stockbrokers at Collins Stewart Wealth Management.
“The volatility of combined portfolios was more than expected and drawdowns were larger than expected,” he said. “The problem must be tackled head on with models
The Teucrium Corn Fund has begun trading on the NYSE Arca.
The investment objective of the fund is to have the daily changes in percentage terms of the shares’ net asset value reflect the daily changes in percentage terms of a weighted average of the closing settlement prices for three futures contracts for corn that are traded on the Chicago Board of Trade.
These are the second-to-expire CBOT corn futures contract, weighted 35 per cent; the third-to-expire CBOT corn futures contract, weighted 30 per cent; and the CBOT corn futures contract expiring in the December following the expiration month of
With the credit-led crisis that brought the onward global march of the private equity industry to a screeching halt two years ago now starting to fade into the background, activity in the sec
