Tuesday, 21 October 2014
Last updated 1 hour ago
Sep 30 2009 | 2:24am ET
Another firm is preparing itself for the inevitability of new hedge fund regulations in Europe by moving its hedge fund onshore.
Smith & Williamson plans to convert its £80 million Enterprise Hedge Fund into a UCITS III-compliant vehicle by the first quarter of next year. In addition, anticipating new restrictions on offshore funds, the firm plans to switch the Enterprise fund’s domicile from the Cayman Islands to Dublin, Ireland.
“We thought six months ago we would launch a new UCITS III fund to run alongside Enterprise, but as our discussions progressed we realized with the sea-change in attitudes taking place in clients and regulators it was much better to take the existing pot of assets and move into much more of a user-friendly environment,” Nick Hodgson, head of marketing and sales at the firm, told Investment Week.
The conversion, which would also change the fund from monthly to daily liquidity, requires both shareholder approval and that of Irish regulators.
“To us, it makes sense, because what is clearly driving the hedge fund world is liquidity and transparency, as well as regulatory oversight,” Hodgson said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...