Thursday 30th June 2016
NEWS TICKER: WEDNESDAY, JUNE 29TH: Why are the markets up today? Augustin Eden at Accendo Markets has an explanation. He says that “Post-Brexit is years away and the politicians are cleverly stalling the process of, er, starting the process by resigning and stuff like that. You could think of the Brexit process a crudely constructed economic Rube Goldberg machine. It could all go smoothly but it’s more likely that something will go the wrong way at some point. Perhaps a whole section will collapse and have to be re-built; a projectile will miss its target and have to be re-aligned. But until the machine is set going - until Article 50 is invoked - all is stable. Thus we see financials’ shares outperforming even though Moody’s stayed true to its word and carried through with its threat to blanket bomb the sector with downgrades. Late to the party as usual? But let’s not assume things really are improving from here on. Talk of waning volumes indicating a bottom for the recent sell off neglect to take account of one fact: declines can happen on both high and low volumes, but rallies can only happen on the former”. Now you know - Moira Gorman, client director, LGPS at Columbia Threadneedle Investments today in a client note says that UK referendum result, “puts pressure on asset valuations, and will worsen funding ratios given the contraction in gilt yields. However, funds in England and Wales had their triennial valuation in March 2016 so will be able to take their time in considering they may wish to respond in the short to medium term. Possibly of equal importance to them could be the political uncertainty and the potential impact on the timetable and objectives for pooling given the personalities who may lead the government following Prime Minister Cameron’s departure.” --

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Augentius launches compliance consultancy for alternatives

Tuesday, 03 February 2015
Augentius launches compliance consultancy for alternatives Augentius, the global private equity and real estate fund administration specialist, says it has launched a new compliance consultancy, Augentius Compliance, supporting the alternatives sector.

Augentius, the global private equity and real estate fund administration specialist, says it has launched a new compliance consultancy, Augentius Compliance, supporting the alternatives sector.

The firm says the service is the first and marks the very first time a fund administrator has moved into compliance consultancy. Augentius Compliance will offer new customers a free ‘compliance health check’, available on request.

The move comes in response to high demand from clients. According to the firm, alternatives funds today face an unprecedented, ever-expanding, and ever-changing maze of new regulatory rules and reporting obligations, the details of which differ considerably across jurisdictions. 

Augentius says it has already been assisting its clients with FATCA obligations for some time, and recently launched a sophisticated AIFMD reporting product that allows fund managers to outsource the capability where needed, before bringing it in-house when desired. Ian Kelly, chief executive officer of Augentius, says: “Keeping on top of the volume and complexity of regulation in the alternatives space is proving a real headache for many firms, and can be a distraction from their core priority of delivering returns to investors. Yet failing to stay up to date and ensuring compliance at all times is simply not an option, especially given the proactive stance of today’s regulators.

“Firms need support in this area from a trusted partner that knows their industry as well as their specific business inside out. This is why compliance consultancy is such a natural move for us; we work closely with our clients on a daily basis, and understand the regulatory challenges they face on a very practical level – far more so than any pure consultancy business could. Compliance is a natural extension to our core administration business,” he adds.

In addition to ongoing compliance support, the new company offers FSA authorisation and approval services, as well as comprehensive regulatory training for client employees. All services will be provided on a bespoke basis to UK alternatives funds. In addition, Augentius is offering a complete ‘compliance health check’ for free. Augentius Compliance will conduct a review of an organisation’s entire business with a view to identifying compliance weak spots.

The Augentius Compliance team will be led by Arafat Shah, who brings with him the benefit of 21 years in the industry (eight of which were with the UK regulator).

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