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Joel Nelson
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SKOR, Korea Small-Cap ETF from IndexIQ, made +IndexUniverse's "Top 10 Surprising ETF Closures" list. IndexIQ's announced July 6th they would redeem all outstanding units Aug 22 2012. AUM was about $6M end June 2011.

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Have been thinking loans and CLO's are potentially very appealing. This article from +Pensions & Investments highlights gives examples of many pensions getting involved in this market.

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Korean FSC's English blog posting some comments on plans for revisions to the Capital Markets Act. Re: markets, pretty much in-line with news flow since last year - showing a lot of caution, but wanting to move ahead with promoting alternative trading venues (ATS) while prioritizing central counterparty clearing for OTC derivatives by end 2012.

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The +Financial Times had a recent article re: the Axa case demonstrating a need for quant funds to prioritize and increase the scope of legal. The article suggests even having legal review and codify workflows for things like data cleansing and bug fixes.
Although large funds won't look forward to the increased costs, won't this become yet another competitive advantage for them over smaller funds? If this becomes something that sponsors expect to see, this could be another major barrier to entry for a start up quant fund.
#quant #hedgefund #legal

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+Reuters article on Chinese regulation changes intended to promote expansion of the domestic brokerage business. Among other details, the article mentions plans "to slash the investment threshold for brokerages' wealth management products for individuals to 10,000 yuan from 50,000 yuan".

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One of the few global market neutral tenders I have seen so far this year. The alpha mandates are "unfunded" though - is this the most common arrangement for European/US pensions?

"... we don't allocate any capital at all to the (active) manager,"
Mr. Ragnartz said. "They have to finance their own positions"
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