Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
20/01/2010
Auriel Capital closes its US sales office
Auriel Capital Management, a London-based hedge fund manager, has closed its US sales office, headquartered in Connecticut, after its head Gregory Neumann left at the end of last year.
According to an HFMWeek source, Auriel does not intend to replace Neumann and will now market directly to the US from its London office.
Auriel, which specialises in absolute return strategies, was launched in April 2004 by former Deutsche Asset Management employees Larry Abele, Anoosh Lachin and Asif Noor.
Auriel's Global Macro Fund, which launched in August 2004, was down -5.71% last year, according to data provided to BarclayHedge. Its Currency 2x Fund, which also started in August 2004, was down 9.11% last year.
Since launching in April 2004 with $20m, Auriel’s AuM has grown to more than $500m.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
Investor demand for CTAs is on the rise, says Agecroft Partners
Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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