SVB (Silicon Valley Bank) – Cautionary tale or just plain dumb?

October 2015 RiskSystem ezine

Welcome To The Latest RiskSystem Newsletter Current Observations and Musings It seemed a particularly quiet summer – at least until the end of August. Perhaps economic recovery meant more people were on vacation. Or maybe the regulators decided we all needed some time off to digest all the recent legislative changes – fat chance! Still Greece […]

September 17, 2015, by administrator

Exchange Traded Commodities

Exchange Traded Commodities – Are they eligible? The Undertakings for the Collective Investment in Transferable Securities (UCITS) rules forbid funds to invest in commodities or in financial derivatives instruments of commodities with embedded delivery mechanisms. Nevertheless, fund managers have several other avenues to explore in order to gain exposure to the price of commodities, however […]

September 17, 2015, by administrator

VaR Days

Value at Risk (VaR) models are now thoroughly embedded in European risk management practice and have even received regulatory imprimatur in UCITS legislation. However all models are only as good as the assumptions used in their construction and so, after a month where there were some extreme market moves, it is reasonable to ask how […]

September 7, 2015, by administrator

Why China Matters

As my old boss said twenty plus years ago “anything times the number of people in China is a very big number”. China is now extremely important to global GDP growth and a slowdown there, or worse a recession, will have profound implications for the rest of the world – in particular countries that export […]

September 7, 2015, by administrator

Redemption Gates

Redemption Gates and Liquidity Management There are some interesting discussions going around concerning redemption gates. This has been raised at SEC money market hearings over the past year or so. Jennifer Marietta-Westberg, Deputy Director and Deputy Chief Economist in the Division of Economic and Risk Analysis (DERA), stated: “Redemption gates will provide a fund’s board […]

March 4, 2015, by administrator

Annex IV Feedback

Annex IV – How was it for you? Fund managers affected by the EU’s Alternative Investment Fund Managers Directive (AIFMD) have been preparing for their Annex IV regulatory filing for some time now. For firms that obtained their Variation of Permission (VOP) which enabled them to operate as authorised AIFMs on AIFMD’s implementation deadline of […]

March 4, 2015, by administrator

March ezine

Welcome To The Latest RiskSystem Newsletter Current Observations and Musings Well it’s certainly been an interesting past few months- the escalation of the Ukraine situation, the horrendous shootings in Paris, the collapse in oil prices (and many other commodities eg copper), the commencement of QE in Europe and the coming to power of Syriza in […]

March 4, 2015, by administrator

Large Fines are Coming

Non-compliance with AIFMD risk management obligations could lead to (very) large fines for asset managers As we pointed out last summer in back to the future , but its worth repeating, for the first time in the history of asset management, risk management is on a par with portfolio management as a result of AIFMD. From […]

March 4, 2015, by administrator

Risk Management for Real Estate Companies

Property Risk An analysis of AIFMD as applied to Real Estate Investment Trusts and Property Companies The Alternative Investment Fund Management Directive (AIFMD) is a piece of European Union legislation aimed specifically at “non-standard” funds that wish to operate and market themselves within the Union. In direct response to the recent financial crisis there are […]

March 3, 2015, by administrator

Blog

October 2015 RiskSystem ezine

Exchange Traded Commodities

VaR Days

Why China Matters

Redemption Gates

Annex IV Feedback

March ezine

Large Fines are Coming

Risk Management for Real Estate Companies

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