Monday, 30 March 2015
Last updated 2 days ago
Mar 23 2011 | 12:29pm ET
Swiss authorities have approved the country's what its backers call the first domestically-regulated single-manager hedge fund, which launched earlier this month.
The Swiss Financial Market Supervisory Authority has given the go-ahead to the Swiss Hedge Trading Fund, managed by Swiss Hedge Capital. The new fund is distributed by Swiss & Global Asset Management, a division of GAM Holding, which announced the approval.
"Institutional investors, mainly from Switzerland but also from the European Union, have told us that they would prefer hedge funds that come from a more regulated environment than an offshore domicile such as the Cayman Islands," Swiss & General's Reto Barbarits told Financial News.
"One way to achieve that would be to use the European Union's UCITS fund structure, but that would not allow the physical borrowing of stock that the manager uses for short-selling," he added. "The Swiss regulations don't impose that restriction, and we wanted the manager to have the chance to do what he does exactly, so we domiciled the fund here."
The Swiss Hedge Trading Fund is based on Swiss Hedge's flagship Granada Europe Fund, which is domiciled in the Caymans. The firm plans a UCITS III-compliant version of the long/short equity strategy, with a launch probable later this year.
The new fund is available exclusively to Swiss investors.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…