Thu, Oct 2, 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   |   

Banner

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. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. M&A - Goldman fund takes stake in Caxton, Neuberger Berman acquires Orchard Square hedge fund, Top banks, hedge funds buy Perzo messaging platform for $66m[more]

    Goldman fund takes stake in Caxton From FT.com: Caxton Associates, one of the best known macro hedge fund managers, has sold a 9.9 per cent stake in itself to a fund managed by Goldman Sachs, according to a letter sent to its investors. The investment in Caxton, which manages close to $8

  4. Unconstrained bond funds: Where hedge fund strategies meet mutual funds[more]

    From CNBC.com: For all the talk and buzz around indexes, or passive investing, the next big thing for bond mutual fund investors may be strategies that are the exact opposite. The rapid growth of "unconstrained bond funds" has been thrust into investor spotlight given last Friday's stunning news tha

  5. Service Providers - Aequitas Capital launches exclusive provider network for independent RIAs[more]

    From Insurancenewsnet.com: Aequitas Capital, a diversified financial services company, has launched the Aequitas Financial Services Network (AFSN), a singular member network of select product and service providers who offer diverse yet complementary capabilities designed to empower Registered Invest