In what the JSE says
is a move designed to bring much needed transparency to the unregulated hedge
fund industry, it has announced the purchase of Momentum's Managed Account
Platform (MAP).
The Competition Commission has approved the acquisition
of the risk management tool which offers hedge fund investors greater protection
by segregating investors' assets from the hedge fund manager.
Monitoring
hedge funds' trading activity has become vital to ensure that their activity
remains within investment mandates.
Allan Thomson, Head of Derivatives
Trading at the JSEComplete Your sculpture Magazine Collection for Less!,
said the acquisition makes the JSE the first exchange worldwide to endorse a
managed account platform which would provide more transparency to hedge fund
trading.
"We are delighted to have concluded this acquisition. The JSE
has been working with MAP for some time now. We believe that this deal will be
beneficial for the markets as it provides a safe platform for the hedge fund
industry to grow,we supply all kinds of oil painting reproduction," he says.
Rand Merchant Bank and Momentum developed the monitoring platform in
2007 to create more clarity in the hedge fund industry.
"The market has
been regarded as opaque, both locally and globally," says Braam Jordaan,Use
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disc. of Momentum Alternative Investments.
As institutions invest into
the hedge fund industry,The Leading Wholesale
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urgent that these trades are monitored effectively.
"It became clear
early on that this concept had greater industry-wide benefit and it needed to be
driven by an independent industry-wide player. The JSE, with its unique position
in the South African financial markets landscape, is ideally placed to fully
realise the potential of MAP," said Jordaan.the Injection mold fast!
Institutional
investors are now able to invest up to 10% of their assets in hedge funds, up
from the 2,5% allocation previously reserved for "other" investments in terms of
the new Pension Funds Act.
The hedge fund industry across the world is
unregulated and has problems with unethical behaviour.
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