Sat, Jul 30, 2016
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: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New