Industry Updates

IKOS reports excellent fund performance for May and 2010, completes NFA audit

Monday, June 14, 2010

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Opalesque Industry Updates - IKOS today reported excellent fund performance in May 2010, with IKOS FX up 6.82% (+17.43% YTD), IKOS Futures up 5.83% (+10.70% YTD), and the IKOS Hedge Fund returning 3.05% (+5.26% YTD), whilst the HFRX Global Hedge Fund Index was down 2.64% and the UCITS HFS Index lost 1.08% in the month.

On 11 January 2010, the NFA, which regulates futures activities, commenced a routine desk audit of IKOS CIF Limited.

IKOS established a team comprising the Director of Finance and Compliance, George Constantinides, IKOS’ General Counsel, as well as the Financial Controller, Operations Manager, and three Accountants, to work closely with the NFA auditors during all phases of the audit.

IKOS’ commitment to upholding the NFA’s standards, and the wider adherence to best practice and regulatory compliance, was reflected and reaffirmed in the successful completion of the audit. This further reflects the governance ethos focusing on systems, processes and controls initiated by IKOS and put at the centre of the Board's agenda. The Board's focus on compliance has seen the appointment of a Risk Manager and the establishment of a Risk Management Committee, which reports directly to the Board.

The completion of the audit follows IKOS’ attainment of a SAS 70 Type I Report in March 2010, which concentrated on the completeness and effective design of the firms’ internal controls. This will be supplemented by a SAS 70 Type II Report later this year which will further test the effective operation of these controls.

In addition to complying with the standards set by the NFA, IKOS is also regulated by the CySEC in Cyprus as well as the SEC and CFTC in the US.

ABOUT IKOS
IKOS launched its first fund in 1995. With more than 75 professionals and $1.7 billion in assets under management, IKOS operates a global infrastructure from its Cyprus headquarters, utilizing execution sites, and research facilities in a number of locations including New York, Tokyo, London, and Vienna.

The firm is a specialist in global quantitative trading of all asset classes using strategies which apply the scientific method to investment management. IKOS creates state of the art proprietary technology to capture Alpha from markets which are becoming increasingly electronic. Over the years, IKOS’ investment programs have benefited investors through consistency of returns, asset protection and risk reduction.

In 2009 the IKOS FX Fund was awarded the EuroHedge Fund of the Year Award in the Managed Futures and Currency category. IKOS is now launching a UCITS III FX Fund in partnership with Deutsche Bank. The IKOS Currency Strategy has been available on the dbSelect Platform since 2006, and became available on the WR platform in 2010. Corporate website: www.ikosam.com

- FG

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