Signina Capital want more regulation 28 September 2010Luxembourg Reporter: Justin Lawson
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Northern Trust is transitioning hedge funds, funds of funds and single funds managed by Signina Capital AG from offshore domiciles to Luxembourg, as the investment manager responds to investor demand for funds based in more heavily-regulated jurisdictions.
Signina Capital, a Swiss-based independent investment manager with close to CHF 400 million (approximately USD404 million) in assets under management , has hired Northern Trust for fund services, including fund administration and Hedge Fund Monitor, which enables clients to track and analyse their hedge fund investments in real time.
"We are seeing an increasing trend for hedge funds to launch UCITS and non-UCITS funds in jurisdictions such as Luxembourg and Ireland," said Ian Headon, head of product development for Northern Trust's hedge fund and hedge fund of funds business in EMEA. "Fund managers are hearing from investors, who continue to demand increased transparency, greater control and more robust governance frameworks for their alternative investments."
Northern Trust's Hedge Fund Monitor was developed in response to the demand for information and analytics on hedge fund allocations. It provides clients unrivalled transparency into the performance and liquidity of their portfolio of hedge fund investments through online reporting and processing capabilities, updated daily.
"Particularly after 2008, our clients have become accustomed to strong corporate governance, high levels of transparency and liquidity," said Martin Kloeck, founding partner of Signina Capital. "We were looking for a jurisdiction and provider that would enhance our ability to meet our clients' needs and Northern Trust had the experience and product expertise to support these requirements."
"Northern Trust has been servicing hedge funds and hedge funds of funds for more than 15 years, and Switzerland is a key market for our future growth," said Revel Wood, deputy managing director of Northern Trust Fund Services Luxembourg. "We are delighted to add Signina to our roster of Swiss-based clients. Our reputation for service quality, strong governance and innovative client solutions continues to help us service our clients in an evolving regulatory environment - such as UCITS IV and the AIFM Directive."
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