Wednesday 29th July 2015
NEWS TICKER, Tuesday July 28th: The Spanish Mercado Alternativo Bursátil (MAB) has admitted INCLAM to list on the market’s growth company segment. The company will trade from July 29th this year. Its trading code will be INC and trading will be through a price setting mechanism which will match buy and sell orders by means of two daily auction periods or “fixings”, at 12 hrs and at 16 hrs. Stratelis Advisors is acting as registered adviser and MG Valores SV as liquidity provider. - Moody's: Al Khalij Commercial Bank (al khaliji) Q.S.C.'s asset quality and capital strengths moderated by high reliance on market funding. Al Khalij Commercial Bank (al khaliji) Q.S.C. (AKB) benefits from a solid overall financial profile which is moderated by high reliance on market funding and concentration risks, says Moody's Investors Service in the report "Al Khalij Commercial Bank (al khaliji) Q.S.C: asset quality and capital strengths are moderated by high reliance on market funding" - While German SME’s continue to be plagued by recruiting problems, according to a new KfW survey fewer are bothered about filling employment vacancies than they were back in 2010. More women and older people in the working population, increasing labour mobility and the rise in skilled labour from other EU countries is helping filling the employment gap. Even so, the survey suggests that over the longer term, skilled labour shortages could be the order of the day – In a filing with the Luxembourg Stock Exchange Bank Nederlandse Gemeenten has given notice of amended final terms to the holders of TRY77.5m notes at 10.01% due June 17th 2025 (ISIN Code: XS1247665836 and Series no. 1214) issued under the bank’s €80bn debt issuance programme. The amendment includes provision that the issuer may settlement any payment due in respect of the notes in a currency other than that specified on the due date subject to pre-agreed conditions. Deutsche Bank London is the issuing and paying agent, while Deutsche Bank Luxembourg is listing agent, paying agent and transfer agent. The Shanghai Composite Index ended down 8.5% at 3725.56, its second-straight day of losses and worst daily percentage fall since February 27th, 2007. China's main index is up 6% from its recent low on July 8, but still off 28% from its high in June. The smaller Shenzhen Composite fell 7% to 2160.09 and the small-cap ChiNext Closed 7.4%. Lower at 2683.45. The drop comes as investors wonder how long the government’s buying of blue chip stocks can last. Clearly, the government can’t be seen to be pouring good money after bad to prop up what looks to be a failed strategy of propping up the market. Disappointing corporate earnings data across the globe has affected Asia’s main indices in today’s trading. The Hang Seng Index fell 2.7%. Australia's S&PASX 200 was down 0.2%, the Nikkei Stock Average fell 1% and South Korea's Kospi was off 0.4%. Turnover also remains depressed on Chinese exchanges, with around RMB1.2trn the average volume traded, compared to more than RMB2trn before this current downturn – In other news from the Asia Pacific, New Zealand’s Financial Markets Authority (FMA) has issued a Stop Order against Green Gardens Finance Trust Limited (GGFT) and warns the public to be wary of doing business or depositing money with this company. The Stop Order prohibits GGFT from offering, issuing, accepting applications for or advertising debt securities and/or accepting further contributions, investments or deposits for debt securities – Meantime, in Australia, the Federal Court has found that Astra Resources PLC (Astra Resources) and its subsidiary, Astra Consolidated Nominees Pty Ltd (Astra Nominees), breached the fundraising provisions of the Corporations Act, as part of civil proceedings brought by ASIC. In his judgment, Justice White upheld ASIC's claims that Astra Resources and Astra Nominees breached the Corporations Act by raising funds from investors without a prospectus or similar disclosure document, as required under the law.

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Tuesday, 26 June 2012

FundForum International 2012

26-28 June 2012
Grimaldi Forum, Monaco

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Monday, 11 June 2012

NeMa 2012

12 - 13 June 2012
Network Risk Summit
11 June 2012
InterContinental, Budapest

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29 February - 1 March 2012
Abbaye de Neumunster, Luxembourg

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RWC Partners says it will launch the RWC US Absolute Alpha, a UCITS III US equity long short fund, in October 2009 pending approval from the CSSF in Luxembourg. RWC US Absolute Alpha will use the flexibility allowed under UCITS III to gain exposure to US equities both in long and short positions

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A new UCITS fund has been launched by Morgan Stanley under its Irish UCITS umbrella FundLogic Alternatives, the platform brand name for the bank’s fund solutions which offers both UCITS and non-UCITS funds on a global basis.

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Vertex Capital Management says it has migrated its Vertex Evolution UCITS fund to Circle.2, Point Nine’s live and cloud-based middle and back office services platform for hedge funds. The London based investment advisory firm opted for Point Nine’s operations services and proprietary Circle technology platform when it launched in May last year. A new release, Circle.2, provides live and cloud-based trade reconciliation and settlements for the first time, enabling fund managers to view information such as counterparty exposures and settlement reports in real-time.

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Long/short equity is the most popular strategy pursued by AlternativeUndertakings for Collective Investment in Transferable Securities (UCITS) funds, and overall, funds invested in emerging markets have posted the best performance from January 2002 through October 2011, according to analytics firm PerTrac. The 30-page report titled, The Coming of Age of Alternative UCITS Funds, also indicates that smaller funds outperform larger ones based on a comparison of equal-weighted and asset-weighted cumulative return of PerTrac’s Alternative UCITS Fund Index.

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BNP Paribas Securities Services has  roll-out an upgrade of its hedge fund and fund of hedge fund administration services platform, for both UCITs and offshore funds.

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