Hedge funds posted positive returns in April continuing their consecutive sixth month streak. The Eurekahedge Hedge Fund Index was up 0.87% during the month as most markets trended upwards. The MSCI World Index gained 2.02% in April.

Since the start of the new millennium the Latin American hedge fund industry has witnessed tremendous growth, both in terms of number of funds and assets under management (AUM). During this time the total number of funds in the industry has increased from just over 100 to nearly 500 – an increase of 500% in the fund population, while AUM has witnessed even more impressive growth. As at end-2000 total AUM in Latin American hedge funds stood at US$2.6 billion, while this figure stands at US$62.3 billion as at end-March 2013.

Eurekahedge talks to Eric Anderson, Managing Partner at Milltrust International LLP.

Madeleine Lee of Athenaeum Asian Equities Fund shares the firm's investment principle as well as their outlook on the global markets.

On 15 March, the first six implementing measures of the European Market Infrastructure Regulation (EMIR) entered into force, marking the beginning of the gradual implementation of EMIR over the next two years. EMIR applies widely to both financial and nonfinancial counterparties to derivative contracts, including energy derivatives. In particular, new clearing and risk mitigation requirements for uncleared trades will apply to over-the-counter (OTC) derivative contracts, and a new reporting requirement will apply to both OTC and exchange-based derivative contracts. Some of these requirements are already in force.

One of the primary stated aims of the Alternative Investment Fund Managers Directive (AIFMD) was to increase investor protection. A key step in this regard was the imposition of a standard requirement that alternative investment funds managers (AIFMs) falling within the scope of the AIFMD and marketing their funds into Europe ensure each relevant alternative investment fund (AIF) which they manage appoints a third party depositary with respect to its underlying assets.

In March, the SEC settled two enforcement actions involving private equity. The two actions are just the latest indicators of the SEC’s wide ranging and close scrutiny of the private equity industry, which has been ongoing for some time. We are hearing multiple speeches by SEC Staff focused on perceived compliance problems in the private equity industry. Focusing on both registered and unregistered investment advisers, the SEC has expressed concern with virtually every type of violation, large and small, of which a private equity investment adviser is capable.

While not the first location that springs to mind when thinking of Islamic finance, Guernsey has developed its legal, tax and regulatory frameworks to a point where many Islamic players are now attracted to the island’s well-developed financial industry. John Richardson discusses the steps Guernsey is taking to encourage this trend.