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...“We are currently working through the legal process in Cayman Islands to wind up [the fund],” said TGT director Justin Wright....
...Norway’s $1.6tn oil fund is the second-largest shareholder in UBS, behind BlackRock, having increased its stake from 3.5 per cent to 5 per cent when the Credit Suisse takeover was completed last summer....
...UBS declined to comment....
...Horwitz and Koppelman, who are in their late twenties and met at Harvard, have limited backgrounds in journalism or stock trading....
...This includes any hedge funds using prime broking services at a bank which has itself breached the $3bn threshold....
...The case was “in respect of his conduct as a director of Greensill Capital (UK) Limited and Greensill Limited”, the agency said. Full details of the claim were not immediately available....
...“For a lot of LPs [limited partners] that are overallocated to private equity or having liquidity issues, getting cash at hand through secondary sales is a sure thing,” said an executive at a public fund...
...An email sent to mailing list registrants today says: Bahnhofstrasse 21, 6300 Zug is also the address offered by Swiss Company, a service which allows services such as mail forwarding for foreigners wanting...
...China’s “national team” of major state-backed financial services companies has ploughed Rmb410bn ($57bn) into local equities exchange traded funds so far this year, according to UBS estimates....
...Both Singapore and Hong Kong have stepped up attempts to lure more managers and funds away from low-tax havens such as the Cayman Islands....
...limited liability partnership....
...BPGIC Holdings borrowed $75mn from Asma’s fund in 2019, but never paid any interest on the debt, according to Cayman Island court filings related to its insolvency, racking up more than $30mn of unpaid interest...
...The Cayman Islands will open an office in Singapore by the end of the year, as the Caribbean offshore financial services centre seeks to capture more business from Asia’s hedge funds and wealthy families...
...The Trust essentially retained ownership of the account and could withdraw funds at any time, James’s office added....
...Job moves Stephanie Cohen, one of the most senior female executives in Goldman Sachs’ history, is leaving to become chief strategy officer of digital services group Cloudflare....
...Last year, Affiniax AAS reclassified $74mn of funds received from BIA between 2018 and 2020 that had previously been booked as revenue as a liability....
...Cook’s conviction was for the less serious offence of misconduct in public office over funds he received from a consultancy called ME Consultants, which was registered in the Cayman Islands and where he...
...In a note titled “Hedge fund nirvana” Credit Suisse UBS quant Patrick Palfrey notes how heavily shorted stocks have started to do badly this year....
...“You give up a lot of returns that you could have accrued for your clients,” said Elisabeth Kashner, director of global fund analytics at FactSet....
...The profit margin of the service sector (which accounts for 20% of revenue) has, in the opinion of our analyst, peaked at 70% as Apple needs to find incremental services with large TAMs, with much of the...
...It concluded that Apollo’s limited partnership agreements, with pensions and sovereign wealth groups, stated that such travel and dining expenses should be borne by Apollo, not the funds and its investors...
...Disclosure is limited by constraints of professional privilege. The opacity creates a “market for lemons” problem, a US academic argues....
...The group, which represents the €28.5tn European investment industry, has asked major central banks, which jointly own the CLS currency settlement service, to implement urgent measures to address the risks...
...Swiss lender UBS injected Rmb20mn into the fund upon its formal establishment late last month, regulatory filings show, making it the second-largest investor in the fund....
...Brutal, but swift, decisive, and with limited systemic risk. No such plan existed for Deutsche Bank, which is rather too large for most other banks to digest in a hurry....
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