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Irish law firm Dillon Eustace has opened an office in the Cayman Islands. The new office makes Dillon Eustace first European Union legal firm to establish a fully-serviced practice on the islands.
The office opening reflects the firm’s view that while the impact of the introduction of the Alternative Investment Fund Managers Directive may restrict access to European markets – there remains a huge volume of business focussed outside Europe on which the Directive will have little or no impact. This will ensure that the Caymans will continue to be a major domicile of choice.
Mark Thorne, Managing Partner
In March 2012, the volume of assets placed in the investment funds covered by the Swiss Funds Assiciation (SFA) climbed to around CHF648 billion, an increase of CHF1.4 billion month-on-month.
There were inflows of assets for bond funds (+CHF2 billion), products in the “other funds” category (+CHF0.5 billion) and equity funds (+ CHF0.4 billion).
As of the end of March 2012, the total volume of assets in the investment funds covered by the statistics compiled by Swiss Fund Data AG and Lipper stood at CHF647.1 billion, an increase of CHF1.4 billion month-on-month. Funds for institutional investors accounted for CHF241.0 billion
All private, professional and public funds in the British Virgin Islands are required to submit a Mutual Fund Annual Return (MFAR) to the BVI Financial Services Commission (FSC) no later than 30 June 2012 in respect of the calendar year ending 31 December 2011.
Funds and their service providers must make use of the Commission’s e-filing system when preparing and submitting their annual returns. The e-filing system can be accessed here.
As law firm Harneys points out, failure to complete and file the MFAR on or prior to 30 June exposes a fund to the risk of enforcement action by
The Riverside Company has recruited Erick Bronner (pictured) to lead the firm’s Investor Relations department. Bronner brings 20 years of private equity fundraising and investment banking experience, most recently as a Founding Partner at Mercury Capital Advisors, a global private equity fundraising and investment advisory firm.
Prior to Mercury, Bronner was a Managing Director in Merrill Lynch’s Private Equity Funds Group. As Global Head, Fundraising and Investor Relations, Bronner assumes the reins from Christine Croissant, who is moving into a part-time role with the Investor Relations team.
Bronner will spearhead Riverside’s efforts to meet the needs of a growing base of international investors as head of a department that numbers seven individuals today and
AIRCOM International, a portfolio company of HIG Europe, the European arm of global private equity investment firm HIG Capital, announces the acquisition of Symena Software & Consulting GmbH (Symena).
AIRCOM is the world’s largest independent provider of network planning management and optimisation tools and services to the mobile telecoms industry; its products are in use across more than 135 countries by over half the world’s mobile operators.
Symena develops market-leading software that helps to automate mobile networks. The company was founded in 2002 as a spin-off from Vienna University. It has enjoyed significant market traction with leading international operators,
Mid-market private equity firm, CapVest Limited is selling United Coffee (Cafe2011 Holdings Limited trading as United Coffee) to UCC Holdings Limited.
United Coffee is the largest independent coffee business in Europe with leading market positions in the UK, Netherlands, Switzerland and Spain and a growing presence in France and Scandinavia. The transaction is expected to be completed in the second quarter of this year.
CapVest acquired United Coffee, then called Drie Mollen, in 2008 and set about implementing a strategy to transform the business into a truly pan-European leader in the coffee industry. In 2010, this culminated in the creation
The transition to a new party leadership in 2012 should facilitate bolder reform and further unlock China’s growth potential, says Yiqian Jiang, fund manager, DWS Invest Chinese Equities fund…
We believe that fears of an economic hard-landing will prove unwarranted as the Chinese economy is poised to complete the last stage of “soft-landing” in first half of 2012, setting the stage for recovery in the second half of the year. Macro policy crossed an inflection point in the fourth quarter of 2011, turning from tightening to moderately accommodative. We expect policy turnaround to precede economic change by around six months, when the
US-based companies raised USD6.3 billion through 717 venture capital deals during the first quarter of 2012, an 18% decline in capital and 9% decline in deals from the same period last year, according to Dow Jones VentureSource.
"The declines were pretty evenly spread across industries so there weren’t any big winners or big losers in the quarter, but there were some surprises. Investment in consumer Internet companies fell after two exceptional investment years, while the IT industry fared well thanks to strong interest in software start-ups," says Jessica Canning (pictured), global research director for Dow Jones VentureSource.
The median amount
Guernsey’s zero-10 corporate tax regime has been deemed harmful by the EU’s Code of Conduct Group on Business Taxation.
The Code Group had previously ruled similarly in relation to both the zero-10 regimes of both Jersey and the Isle of Man.
Guernsey had argued that the offending element from the Jersey and Isle of Man regimes, known as deemed distribution, was different in its tax system to the extent that the Island’s zero-10 regime was actually compliant with the Code Group’s criteria.
However, on the day following a General Election in the Island, a statement from Guernsey’s Policy Council said:
Amidst ongoing Eurozone concerns and uncertainty surrounding Spain, Schroders’ Head of Global Macro, Bob Jolly, discusses his tactical approach in light of his outlook for the global fixed income markets…
The risks to growth expectations could go either way, so we expect markets to remain nervous and levels of volatility to remain elevated. We believe the best approach in this environment is to trade tactically instead of taking any significant strategic positions.
However, we are still taking a strategically positive view on the prospects for US growth. We are less bullish about the US economy than we were a month ago, but
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