Thu, Jul 31, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Commodities house Galena Asset Management becomes Exempt Fund Manager in Singapore

Thursday, December 09, 2010
Opalesque Industry Update - Galena Asset Management (‘Galena’), the asset management arm of Trafigura group, has notified MAS that it intends to operate in Singapore under the exempt regime for fund managers.

Galena established a local presence in Singapore in 2009, in the light of the significant and growing importance of Asian markets for commodity assets, having previously covered the Asian time zone and markets from London. This initial presence proved successful and Galena has lodged the necessary notices with the MAS, allowing the firm to develop a presence that includes discretionary investment management in Singapore as an Exempt Fund Manager.

Commenting on the news, Gerard Lynch, Galena’s CFO, said: “We recognise the significance of Singapore as financial services, investment and commodities hub and the importance to Galena of having a presence in the Asian markets. Singapore is a business friendly environment, which makes it the natural choice for Galena when establishing and developing its permanent presence in Asia.

We found the regulatory framework for hedge fund managers in Singapore to be a proportionate approach. As an exempt fund manager, although Galena is not regulated in Singapore, the current framework set out minimum standards for firms such as ourselves and the proposed changes to the rules clearly set out the regulatory requirements for us as we grow and our business develops.”

(press release)


Galena is an established discretionary commodity manager managing in excess of US$1.3bn of assets in six different funds both in hedge fund and long-only strategies. The FSA-regulated firm was set up in London in 2003 and the firm has investment management presence in London, Geneva and in Singapore: www.galena-invest.com/aboutgalena

Galena is a subsidiary of privately-owned Trafigura Group, one of the largest independent commodities traders. Established in 1993, Trafigura has 1900 employees worldwide in 44 different countries and generated in 2009 an annual turnover of US$47.3bn (www.trafigura.com).


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Kyria Capital Management bets on women hedge fund managers[more]

    Bailey McCann, Opalesque New York: As hedge fund assets top $3 trillion, and long/short strategies get more crowded than ever, with every manager hunting for even the tiniest bit of alpha, a new firm has emerged that claims its own edge – women. A recent Rothstein Kass study showed women-owned a

  2. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  3. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  4. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  5. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by