OVS CAPITAL LLP ANNOUNCES NEW PARTNER AND TEAM MEMBER

OVS Capital, the European equity focused event driven hedge fund, is pleased to announce the appointment of Nick McEwen as a Partner in its business. In his role at OVS Mr. McEwen will oversee all sales and marketing and will support Sam Morland (Chief Investment Officer) and Andrea Morrall (Chief Operating Officer) in the managing of the business.

Mr. McEwen previously worked at Revere Capital Advisors where he was a Managing Director and established the London office with responsibility for the European sales and marketing effort.

Nick McEwen’s hiring is the second of the year at OVS following Adam Lister’s addition to the investment team. Mr. Lister was previously a Vice President in Citigroup’s UK Investment Banking team and is a CFA charterholder.

Sam Morland, OVS’ founder and CIO said, "We are pleased to make these additions to the team to capitalise on OVS’ early business momentum and to further enhance our investment, business and operational infrastructure. The opportunity for European event driven investing remains compelling."

OVS Capital was launched in October 2010 by Sam Morland who formerly spent 10 years at HBK, the multi-billion dollar Dallas based hedge fund. From 2005 – 2008 Mr. Morland was CEO of the London office and in January 2006 was appointed HBK’s first non-American partner. The OVS investment team includes Adam Tyrrell who previously managed the event driven and relative value books for Henderson’s European and Global Multi-Strategy hedge funds, as well as the enhanced index funds. The investment team also comprises Simon Broch, head trader and a former HBK employee.

The business and operations team includes Andrea Morrall, Chief Operating Officer who beforehand worked at HBK and Adam Davies, an Operations Manager who previously worked at Marble Bar.

For more information on OVS, please contact Catherine Alexander, Rostron Parry, +44 (0)20 7490 8062

Bernheim, Dreyfus & Co. launching new Ucits M&A Fund

Bernheim Dreyfus, the Paris-based investment manager, launched last week a mergers and acquisitions fund regulated under UCITS III rules to meet increased investor demands for more liquid and transparent investments in this sector of market activity. 

The Diva Synergy (Ucits) fund is regulated by the French Financial Authority (Autorité des marchés financiers) and replicates the event-driven Diva Synergy Fund which gained over 27% last year successfully exploiting the increase in M&A activity during 2010.

Amit Shabi, partner at Bernheim Dreyfus, expects the volume of M&A activity will continue to rise through 2011 creating an exceptional range of investment opportunities. ‘M&A picked up momentum in 2010 and continues to grow rapidly. We’re forecasting global deal activity to increase by as much as 40% this year, by comparison to 2010’’.

The Diva Synergy (Ucits) fund started investing in June 1st and has initial committed capital of $10mln. The target is to manage $100mln within 1 year.

Explaining the decision to launch a UCITS product Shabi said, ‘’During the financial crisis it became clear that many hedge funds were not in line with investors’ expectations in terms of liquidity and transparency. The Diva Synergy (Ucits) fund will offer transparency and liquidity as we respond to investor requirements for products which conform with the EU Directive.’’.

Bernheim, Dreyfus & Co.

Paris-based Bernheim, Dreyfus & Co was founded in 2006 as an alternative investment firm focusing on M&A-related strategies, managing an event driven hedge fund – Diva Synergy.

Diva Synergy is managed by Amit Shabi and Lionel Melka.  Lionel Melka has 10 years’ of experience as an M&A advisor for blue chip clients in prestigious banks as Lazards, Calyon and Rothschilds.  He has been involved in more than 20 major transactions totaling more than $50 billion.

Amit Shabi has long experience in asset management and capital markets with Rothschilds, the Man Group and others.

Hong Kong Mercantile Exchange Receives Trading Authorisation

Gold-Futures Contract To Commence Trading on May 18

HONG KONG, 27 April, 2011 – The Hong Kong Mercantile Exchange (“HKMEx”) today announced that it has received authorisation from the Securities and Futures Commission to operate as an automated trading services (“ATS”) provider. Approval has also been given for its trading debut on May 18, 2011.

The ATS authorisation grants HKMEx the right to offer market participants, through its member firms, the use of its state-of-the-art electronic platform to trade commodities.  The Exchange will begin trading with at least 16 members including some of the world’s largest financial institutions and trading firms as well as several well-established brokerages in Hong Kong.

“We are very excited about this historic day. It allows us to establish a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world,” said Barry Cheung, chairman of HKMEx. “Global demand for core commodities has in recent years been driven by Asia, especially China and India.  However, market participants in the region have had to rely on Western exchanges for price discovery, bearing the basis risk exposure in the process.  Our new platform will offer Asia a bigger say in setting global commodity prices.  It will also enable market participants to more actively manage their risk exposures, using products tailored to Asian market needs.”

HKMEx’s broking members at launch include BOCI Securities Ltd, Celestial Commodities Ltd, CES Capital International Co. Ltd, Chief Commodities Ltd, ICBC International Futures Ltd, Interactive Brokers LLC, KGI Futures (Hong Kong) Ltd, MF Global Hong Kong Ltd, Morgan Stanley Hong Kong Securities Ltd, OSK Futures Hong Kong Ltd, Phillip Commodities (HK) Ltd, Tanrich Futures Ltd and TG Securities Ltd.  Its three clearing members are Interactive Brokers (UK) Ltd, MF Global UK Ltd and Morgan Stanley & Co International Plc.

The first product to trade on the Exchange will be a 1-kilo gold futures contract offered in US dollars with physical delivery in Hong Kong.  Trading hours will run between 0800 to 2300 Hong Kong Time, overlapping commodity markets in Europe and the US.  “This helps to promote cross-continent trading and boost liquidity,” said Albert Helmig, president of HKMEx.  “It also offers participants extensive opportunities for hedging, arbitrage and effective risk management.”

In the pipeline are standardised products which will either be physically or financially settled, covering precious and base metals, energy, agriculture and commodity indices. 

HKMEx is uniquely positioned to take advantage of the liberalisation of the renminbi in Hong Kong.  “China’s pilot scheme for the settlement of overseas direct investments in the Chinese currency has not only increased cross-border trade settlement and liquidity, but also created a strong demand for renminbi-denominated investment instruments,” said Mr. Helmig. 

All transactions on HKMEx will be cleared through London-based LCH.Clearnet – a leading independent clearing house serving major international exchanges.

HKMEx has attracted shareholders from around the globe including China’s ICBC and COSCO Group as well as Russia’s En+ Group, among others. 

“We are very fortunate to have such a strong shareholder base in addition to a board of directors who are of the highest calibre in their own fields.  Our management experience, together with cutting-edge technology, market focused products, and Hong Kong’s strategic location and infrastructure will ensure HKMEx a promising future,” said Mr. Cheung.

Bernheim, Dreyfus & Co. partners with the French Foundation for Disabled (APSH 34)

APSH 34 is charitable association which helps the psychiatrically disabled through their rehabilitation and the process of reintegration into society.

For over 30 years APSH 34, together with the Fondation de France and the Montpelier Public Hospital, has also worked to reintegrate the disabled into formal employment (and also to meet their housing needs).   

Amit Shabi, co-founder of Bernheim, Dreyfus & Co, declares : We are very proud to be able to help APSH 34 in its noble mission which also underlines our total commitment to community initiatives.  

Paris-based Bernheim, Dreyfus & Co was founded in 2006 as an alternative investment firm focusingon M&A related strategies, managing an event driven hedge fund – Diva Synergy.

Connect & Trade: Mexico Monday April 11th 2011

Connect & Trade: Mexico

Accessing Mexican Financial Markets

Join executives from Bolsa Mexicana (Mexican Exchange) for an interactive panel discussion designed to help achieve unparalleled access to one of the leading equity and derivatives marketplaces in Latin America.

Attend this exclusive event to learn about investment opportunities in Mexico, as well as receive insight into new trading rules that streamline Direct Market Access trading (DMA), which benefit traders, institutional investors, hedge funds, high frequency traders, banks, FCMs and brokerages.

Monday, April 11^th 2011

16:00 HRS

Clothworkers’ Company

Clothworkers’ Hall

Dunster Court, Mincing Lane. London, EC3R 7AH

16:00 hrs – Panel Discussion and Audience Q&A

                       Livery Hall

18:30 hrs – Cocktail Reception

                       Reception Room

R.S.V.P

Catherine Alexander / +44 20 7490 8062

catherine@rostronparry.com

BMV is the second largest stock exchange in Latin America with a total market capitalization of over US$ 453.8 billion. The Exchange is home to some of the most recognizable and profitable global corporations, including beverage giant Grupo Modelo, whose brands include Corona Extra and Pacifico, América Móvil, one of the largest telecommunications companies in the world; CEMEX, the world’s biggest building materials supplier, and Televisa, the largest media company in the Spanish-speaking world, among many others.

The Mexican Derivatives Exchange is the third largest derivatives exchange in Latin America. Launched in 1998, it offers options and futures on interest rates, stock indices, currencies and single stocks.

29 March 2011: Charlie Anderson at the Royal Opera Arcade Gallery

WE GOT CULTURE

The Directors and Staff of RostronParry take great pleasure inviting you to a show by

Charlie Anderson

From 6.00pm, Tuesday 29^th March

Royal Opera Arcade Gallery, 5b Pall Mall (Lower Regent St and Haymarket), London SW1Y 4UY.

Drinks and nibbles.

RSVP

SIMON ROSTRON

ROSTRON PARRY, LONDON

+44 20 7490 8062

simon@rostronparry.com

Financial News: Meet Verena Ross Esma's executive director

Ashlee Godwin

Europe’s newest financial regulator, the European Securities and Markets Authority, is now fit for purpose after a slow start, with the long-awaited appointment of an executive director.

Esma, which was established on January 1 by the European Commission to oversee supervision the region’s securities industry, has named Verena Ross to its most senior position under chairman Steven Maijoor.

Ross is a German national and career-regulator with extensive experience in capital market policy and financial services supervision, following stints at both the UK’s Bank of England and Financial Services Authority. She has also previously appeared in Financial News’s FN100 Women list of the most influential women in European markets.

She joins Esma from the FSA, where she has led its international division since October 2009 and engaged in the debate on reforming the oversight of both European and global financial markets. Ross coordinated the division’s international and European committee work and provided strategic technical advice on EU and policy issues.

The appointment secures a rare senior role for the City of London among Europe’s three new super-regulators.

All three chairman positions in the new bodies have gone to Europeans: Italian Andrea Enria at the European Banking Authority; Maastricht University professor Maijoor at Esma; and Portuguese regulator Gabriel Bernardino at European Insurance and Occupational Pensions Authority.

The EBA is the only one of the three organisations to be based in London.

Ross's appointment follows the EC’s surprise move in January to appoint a little-known Dutch regulator to Esma’s top post. The appointment of Maijoor, a director at the Netherlands Authority for the Financial Markets, as chairman was confirmed by the European Parliament earlier this month. As first executive director, Ross will oversee Esma’s initial development and day-to-day management.

Anthony Belchambers, chief executive of the Futures and Options Association, welcomed the appointment: “Whoever holds the position will have to achieve a difficult balance between satisfying public policy objectives to make the market safe while at the same time making sure the markets can meet the demands of investors.

“Verena is a good appointment to do that. She has lots of common sense and a good strong regulatory background.”

Peter Beales, managing director at the Association for Financial Markets in Europe, said: “This is a good appointment for ESMA. Verena is a well respected regulator who is expert in capital markets and supervision issues. In addition, her international experience will stand her in good stead as international convergence increasingly dominates the financial regulatory agenda.”

Esma was created to replace the Committee of European Securities Regulator, which advised the EC from 2001 to 2010 on policy issues surrounding the securities industry.

The long-awaited appointment of Ross comes as Esma prepares to begin implementing two sweeping pieces of financial regulation in Europe; the updated Markets in Financial Instruments Directive, and the European Market Infrastructure Regulation.