Monday, May 31, 2010

Opalesque Islamic Finance Intelligence - 31st May 2010

                                Opalesque
                      Opalesque Islamic Finance Intelligence
                              31. May 2010

To view an online version of this newsletter, please click:
                    http://www.opalesque.com/opOIFI11/Newsletter_OIFI_05312010.html
                    (recommended!)

Welcome to the
ninth issue of Opalesque Islamic Finance Intelligence, it's a busy edition!  We
touch on equity screening in our editorial section, while the Featured Resource
covers multimedia and interactive sources.  The Featured Structure section has
Nikan analyzing how successive parallel Murabahas can be used to
construct a Profit Rate Swap.


Lex Islamicus hears from Hakimah Yaacob and Edib Smolo, both from the International Shari’ah Research Academy (ISRA), as they dissect the approach taken by Enlgish courts
towards Islamic finance contracts.  Furthermore, the Kulliyyah Korner hears from
Ezry Fahmy, Jhordy Kashoogie and Asim Anwar Kamal who co-authored a study on the
relationship between Shariah compliant structures and the Maqasid al-Shari'ah.

As part of our ongoing survey (The Islamic Window) Joy Abdullah delves into the perception of Islamic finance, particularly from outside of the industry.  This is
complemented in the Industry Snapshot by Deloitte's David Vicary who provides
his views on the importance of education and financial literacy.  Our Opinion
Column shares the views of Nihad Awad from CAIR, on a topic that might not
appear to be related to Islamic finance at the outset, although we argue the
industry has an opportunity to contribute here in a positive way.


As always, we are keen to hear your comments & suggestions and remember that you can visit our online archive (see
reference link
for access to our ever-growing databank of Opalesque Islamic Finance Briefing as
well as all of the back issues of Opalesque Islamic Finance Intelligence.

Best Regards,

Bernardo

Editor, Opalesque Islamic Finance Intelligence


Please contact us, we would love to hear
from you:

Publisher: Matthias Knab - knab@opalesque.com

Editor: Bernardo Vizcaino - bernardo@opalesque.com

Advertising Director: Denice Galicia - dgalicia@opalesque.com

    Services

  Featured Services
- Battle of the Quants - LONDON -  From High Frequency/Low Latency to Machine vs. Human Intellingence; Quant Networking, Discussions and presentations,  9th June
- MFA's Forum 2010, Chicago, June 8-9, 2010
- JetFin AGRO 2010, June 10, Geneva. Receive a 10% Discount as Opalesque user
- Administrative Options / Contact    Add your event or product here Battle of the Quants - LONDON -  From High Frequency/Low Latency to Machine vs. Human Intellingence; Quant Networking, Discussions and presentations,  9th June


The Battle of the Quants - LONDON returns for the 3rd year. A new innovative lineup promises to deliver the most cutting edge Quantitative Hedge Fund Event in the world. Featuring the financial world's most exciting quantitative managers, investors and technology providers, the full day event will examine how quantitative finance is increasingly finding its way into all corners of the financial world. Fascinating panel discussions include High Frequency Trading, UCITS and Quants, Quant  investors’ allocation priorities, latest quantitative innovations, and of course the “Battle” between Discretionary VS. Quantitative trading.

"Thanks for this! I really enjoyed New York and found the cap intro event and the conference very useful.I really like to say that I think that you organize an excellent event which is fun as well…your personal touch makes the difference"
Frank Holle, President, Quant Asset Management

"I wanted to thank you and your team for your hospitality and the content at the "Battle".  We certainly enjoyed the event and found it very informative from both a practitioners point of view but also from a networking standpoint"
John Donahue, Phase Capital

"Just wanted to thank you again for the opportunity to participate in your excellent event last week!  It was a top-notch event. 
I hope to participate in future events that you organize.  Thanks!”
Ranjan Bhaduri, PhD CFA CAIA MMath MBA, AlphaMetrix Alternative Investment Advisors

May Fair Hotel, Mayfair, London
9:30am Registration
For additional information please contact, Bartt C. Kellermann, bartt@battleofthequants.com or 212.202.3228 www.battleofthequants.com

Top    MFA's Forum 2010, Chicago, June 8-9, 2010

Forum 2010, June 8-9, 2010, The Drake Hotel, Chicago, is MFA's premier managed futures and global macro investment strategies conference and exposition for professionals in managed futures, hedge funds, funds of funds and their service providers and investors. Produced by MFA, Forum 2010 will feature an extensive educational program, special networking opportunities, and an informative exhibition of products and services of interest to industry professionals. Forum 2010 will introduce MFA's popular business meeting lounges - where delegates can hold meetings with clients and prospects onsite in the comfort of The Drake Hotel. Refreshments will be available. Your full conference registration includes entrance to the keynote speakers, general sessions, the exhibit hall, breaks, continental breakfasts, luncheons and evening reception.

Register by Monday, May 17, to receive a $250 discount. MFA members pay just $1,500. Registrations from May 18 to June 1 are $1,750 for MFA members. To make a hotel reservation, you first must register online for Forum 2010.


For up-to-date conference information, to register and to discuss supporting Forum 2010, visit the conference eBrochure, or contact Stacy Hudson at 202.367.1140 or stacy@managedfunds.org.

Top    JetFin AGRO 2010, June 10, Geneva. Receive a 10% Discount as Opalesque user

Agriculture is the bright light of today’s investment universe. The rapid rise in global demand for food is providing new opportunities for investors.


JetFin AGRO 2010 CONFERENCE is the only event for investors, which exclusively gathers top agricultural fund managers delivering strong returns in challenging markets.


Special focus: Region specific investment opportunities.


JetFin AGRO 2010 CONFERENCE is the ultimate meeting point for investors in search of sustainable and noncorrelated returns when investing in agriculture. Leading successful agriculture investment managers present and explain their investment strategies. Institutional investors and wealth managers compare winning solutions, enabling them to take the right investment decisions in key markets such as farming, soft commodities or timber. Don’t miss the unique opportunity to participate to the


JetFin AGRO 2010 CONFERENCE Confirmed speakers :


- Peter-Erik Ywema,  General Manager, Sustainable Agriculture Initiative,  Belgium

- Nicolas Landolt,  Director, Sandoz Family Office,  CH / Brazil

- Giulio Franzinetti,  Managing Director, ASDF BV,  Netherlands

- John Coast Sullenger,  Fund Manager, GAIA Capital,  CH

- Olivier Baumgartner-Bezelgues,  Advisor, Altarius Asset Management,  CH

- Olivier Pairault,  Agriculture Portfolio Manager, BlueGold Capital Management, UK / CH

- Paul Marland,  Partner, LCI (Luxembourg) SA,  Luxembourg

- Douglas King, Founder, Aisling Analytics,  CH / Singapore

- Mari Kooi,  CEO, Wolf International,  USA

- Shawn Johansen, Director, Sustainable Equity Partners,  USA

- Michel Tamisier,  Managing Partner, Elite Advisers,  Luxembourg

- Michael Whitehead,  Director., Macquarie Agricultural Funds Mgmt.,  Australia

- Detlef Schoen,  Founder, Aquila Capital Group,  Germany

- Pedro Herrera,  Senior Vice President, HSBC Securities,  USA

- Olivier Combastet, Partner, Pergam Finance,  France / Uruguay

- Gonzalo Fernandez Castro,  Founder, Lumix Capital,  CH / Argentina

- Jan Pensaert, Founder, Valiance Asset Management,  UK / Brazil

- Stephen Kenney,  Vice President, Hancock Agricultural Investment Group,  USA

- Anton Khmelnitski,  Founder, Elbrus Capital Investments,  Ukraine

- Ulo Adamson,  Partner, Trigon Capital,  Denmark

- Charles Vilgrain,  CEO, AgroGeneration, France / Ukraine

- Neil Crowder,  Co-Founding Partner, Chayton Capital,  UK

- Craig Tashjian,  Principal, Amerra Capital Management LLC,  USA

- Richard Davis, Fund Manager, BlackRock Investment Management, UK

More information & Registration: http://www.jetfin.com/agro2010/eventinfo_en.php or contact Sophie Lavaud, JetFin : 0041 22 839 8080.
Top

About Opalesque Islamic Finance Intelligence


OIFI is the latest addition to the Opalesque family and designed to provide an effective gateway towards this growing and fast-evolving industry.  It aims to provide an innovative and sophisticated approach to Islamic finance, with an unmatched ability to openly discuss the various issues, challenges and opportunities within the industry.  Above all, OIFI maintains a practitioner approach – focusing on precise and relevant content for investors, product manufacturers, fund managers and all members of this truly global community.


This new publication addresses the Islamic finance community through a monthly edition, complemented by the Opalesque Islamic Finance Briefing (our free industry news daily), and a variety of additional tools for readers.  OIFI brings together a wide range of guest columnists, interviews, profiles and much more. Our coverage includes:


·        Featured resources and research material

·        Featured structures and their applications

·        Fund Manager profiles

·        Allocator / Institutional interviews

·        Featured articles and opinion columns

·        Discussion boards and forums

·        Industry statistics and metrics

Above all, OIFI brings a new and energetic approach; it is a must-read for anyone interested in entering this field and a welcome new approach for industry participants.

The OIFI concept has been jointly developed between Opalesque and Amsar Partners, an independent Islamic finance consultancy.  Amsar brings together a multi-disciplinary team that includes Bernardo Vizcaino, CAIA, Managing Director;  Nikan Firoozye Ph.D., Director of Shariah Structuring; and Khalil Jarrar J.D., Director of Jurisprudence.  They combine highly regarded financial, academic and research backgrounds with an unmatched industry network.

Their working experience ranges from boutique to institutional.  Their research has explored Islamic funds, sukuk structures, a wide range of Shariah compliant instruments, as well as work on the conventional world - fixed income relative value strategies, bayesian models for algorithmic trading, macroeconomics, 130/30 and SRI funds, etc.  Their previous editorial engagements have included the Middle East Insurance Review, Euromoney, RISK Magazine, Islamic Finance News, Terrapinn, IQPC, CNBC, Bloomberg, among others.  Their academic trajectory ranges from Masters of Applied Finance, PhD in Applied Mathematics, Chartered Alternative Investment Analyst, Doctor of Jurisprudence, and International Law.
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Please make sure that your email program does not cut the unsubscribe link above in two lines.

Posted via email from IBFN (Islamic Banking & Finance Network) at Posterous

Tuesday, May 25, 2010

Opalesque Islamic Finance Briefing 25. May 2010

                                Opalesque Islamic Finance Briefing 25. May 2010

To view an online version of this newsletter,

Please click: http://www.opalesque.com/IFB7818/Newsletter_05252010.html (recommended!)

View the Opalesque archive: http://www.opalesque.com/IslamicFinance_Briefing/?page_id=2 (recommended!)

News

- DBS makes partial retreat from Islamic banking
- Islamic funds fail to build scale: E&Y
- Islamic funds stagnate at $52.3bln in 2009: report
- Optimism rises in the GCC for Islamic bonds
- Islamic finance in desperate need of high-quality scholars
- Diverse products and adequate regulation needed to revitalise growth for Islamic investments
- Malaysia launches five-year Islamic overseas bonds
- Kenya sees potential of Islamic banking
- AUB steps into Islamic banking
- Sharjah Islamic Bank and MasterCard ink strategic collaboration
- BBK eyes better market conditions for bond
- Bangladesh: Govt's role for assisting growth of Islamic finance lauded
- Islamic finance set to be a $ 2 trillion industry globally within five years
- New insights based on findings from the recently launched Ernst & Young Islamic funds and investments report (IFIR) 2010 to be discussed at the WIBC
- Bahrain sovereign debt reaches $2.23bln, may issue Sukuk
- On the road to recovery - Bahrain learning lessons

Featured Services

- Battle of the Quants - LONDON -  From High Frequency/Low Latency to Machine vs. Human Intellingence; Quant Networking, Discussions and presentations,  9th June
- MFA's Forum 2010, Chicago, June 8-9, 2010
- JetFin AGRO 2010, June 10, Geneva. Receive a 10% Discount as Opalesque user
- Administrative Options / Contact
-----------------------------------------------------------------------------


DBS makes partial retreat from Islamic banking

From Reuters: DBS Group, Southeast Asia's largest lender, is shrinking its
Singapore-based Islamic unit in yet another sign that the city-state's
efforts to promote sharia banking is struggling. (more...)


-----------------------------------------------------------------------------


Islamic funds fail to build scale: E&Y

From  Business24-7.ae:  Most Islamic fund managers are struggling to build
scale amid a decline in average fees which have dropped by almost 25 per
cent over the past few years, according to a study by Ernst & Young.
(more...)


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Islamic funds stagnate at $52.3bln in 2009: report

From  Gulf-times.com:  Global Islamic fund assets stagnated at $52.3bn in
2009, remaining at almost the same level as the $51.4bn posted in 2008,
said Ernst & Young in its fourth annual ‘Islamic Funds and Investment
Report’. (more...)


-----------------------------------------------------------------------------


Optimism rises in the GCC for Islamic bonds

From  Africasia.com:  Analysts are predicting a sharp rise in the market
for Islamic bonds. The Gulf states are already attracting substantial
inflows of international capital and predictions are that the market for
Islamic finance could eventually reach $5 trillion. (more...)


-----------------------------------------------------------------------------


Islamic finance in desperate need of high-quality scholars

From  Gulfnews.com:  The Islamic Finance market is in desperate need of
high-quality scholars who will help to grow the industry, Islamic banking
industry specialists said yesterday at the Menasa Forum in Dubai.
Conventional banking has strict regulations, and Islamic banking has its
Sharia scholars. (more...)


-----------------------------------------------------------------------------


Diverse products and adequate regulation needed to revitalise growth for
Islamic investments

From  Cpifinancial.net:  Bursa Malaysia feels that there is a strong need
for diverse products that match different investors' appetites, supported
by an adequate amount of regulatory oversight championing public interest,
in order to create a more appealing Islamic investment landscape. (more...)


-----------------------------------------------------------------------------


Malaysia launches five-year Islamic overseas bonds

From  Cbonds.info:  Malaysia may sell more than $600 million of five-year
Islamic bonds, the country's first overseas debt offering in almost eight
years, according to Barclays Capital as the prime minister officially
launched the sale. (more...)


-----------------------------------------------------------------------------


Kenya sees potential of Islamic banking

From  Thenational.ae:  Kenya is considering allowing Islamic financial
products as the east African country tries to tap into funding from the
Middle East. (more...)


-----------------------------------------------------------------------------


AUB steps into Islamic banking

From  Arabtimesonline.com:  Hamad Abdul Mohsen Al Marzooq, Chairman and
Managing Director of Ahli United Bank (AUB), said that the conversion phase
into a bank operating in accordance with Islamic Shari’ah provisions
required the cooperation with a group of partners who could meet the needs
of the Bank and its customers, and complete the conversion process within
the time frame set out the Central Bank of Kuwait and according to its
instructions related to the Islamic banks business. (more...)


-----------------------------------------------------------------------------


Sharjah Islamic Bank and MasterCard ink strategic collaboration

From  Ameinfo.com:  Sharjah Islamic Bank (SIB) has signed a strategic
agreement with MasterCard Worldwide to issue MasterCard debit and credit
cards.  (more...)


-----------------------------------------------------------------------------


BBK eyes better market conditions for bond

From  Tradearabia.com:  Bahrain-based BBK will issue a bond "any time the
market permits", the bank's chief executive said on Monday, having held
investor meetings last week. (more...)


-----------------------------------------------------------------------------


Bangladesh: Govt's role for assisting growth of Islamic finance lauded

From  Thefinancialexpress-bd.com:  Influential financial institutions of
the world including IDB thanked the government, especially the central
bank, for assisting the growth of the Islamic financial services industry
(IFSI) in the country through creation of requisite conducive environment.
(more...)


-----------------------------------------------------------------------------


Islamic finance set to be a $ 2 trillion industry globally within five
years

From  Globalarabnetwork.com:  Islamic Finance is all set to be a $ 2
trillion industry in the next half a decade according to Rushdi Siddiqui,
Global Head of Islamic Finance, Thomson Reuters. (more...)


-----------------------------------------------------------------------------


New insights based on findings from the recently launched Ernst & Young
Islamic funds and investments report (IFIR) 2010 to be discussed at the
WIBC

The Ernst & Young Islamic Funds and Investments Report (IFIR) 2010, which
was launched today at the 6th Annual WIFCMC in Bahrain, will also be a key
topic of discussion by the delegates attending the inaugural Annual World
Islamic Banking Conference: Asia Summit (WIBC Asia 2010). (more...)


-----------------------------------------------------------------------------


Bahrain sovereign debt reaches $2.23bln, may issue Sukuk

From Zawya Dow Jones: Bahrain's sovereign debt stands at $2.23 billion, the
highest in the country's history, representing 17.2% of gross domestic
product, Manama-based Al Wasat daily reports Monday, citing public data.
(more...)


-----------------------------------------------------------------------------


On the road to recovery - Bahrain learning lessons

From  Globalarabnetwork.com:  While Bahrain's economy is well along the
road to recovery, rebounding after last year's slowdown, there are growing
concerns that this journey may be affected by the rising debt crisis in
Europe, with a possible impact on the Kingdom's Islamic financial sector.
(more...)


-----------------------------------------------------------------------------


Battle of the Quants - LONDON -  From High Frequency/Low Latency to Machine
vs. Human Intellingence; Quant Networking, Discussions and presentations,
9th June


The Battle of the Quants - LONDON returns for the 3rd year. A new
innovative lineup promises to deliver the most cutting edge Quantitative
Hedge Fund Event in the world. Featuring the financial world's most
exciting quantitative managers, investors and technology providers, the
full day event will examine how quantitative finance is increasingly
finding its way into all corners of the financial world. Fascinating panel
discussions include High Frequency Trading, UCITS and Quants, Quant
investors’ allocation priorities, latest quantitative innovations, and of
course the “Battle” between Discretionary VS. Quantitative trading.

"Thanks for this! I really enjoyed New York and found the cap intro
event and the conference very useful.I really like to say that I think that
you organize an excellent event which is fun as well…your personal touch
makes the difference"
Frank Holle, President, Quant Asset Management

"I wanted to thank you and your team for your hospitality and the
content at the "Battle".  We certainly enjoyed the event and
found it very informative from both a practitioners point of view but also
from a networking standpoint"
John Donahue, Phase Capital

"Just wanted to thank you again for the opportunity to participate in
your excellent event last week!  It was a top-notch event. 
I hope to participate in future events that you organize.  Thanks!”
Ranjan Bhaduri, PhD CFA CAIA MMath MBA, AlphaMetrix Alternative Investment
Advisors

May Fair Hotel, Mayfair, London
9:30am Registration
For additional information please contact, Bartt C. Kellermann,
bartt@battleofthequants.com or 212.202.3228 www.battleofthequants.com

-----------------------------------------------------------------------------


MFA's Forum 2010, Chicago, June 8-9, 2010

Forum 2010, June 8-9, 2010, The Drake Hotel, Chicago, is MFA's premier
managed futures and global macro investment strategies conference and
exposition for professionals in managed futures, hedge funds, funds of
funds and their service providers and investors. Produced by MFA, Forum
2010 will feature an extensive educational program, special networking
opportunities, and an informative exhibition of products and services of
interest to industry professionals. Forum 2010 will introduce MFA's popular
business meeting lounges - where delegates can hold meetings with clients
and prospects onsite in the comfort of The Drake Hotel. Refreshments will
be available. Your full conference registration includes entrance to the
keynote speakers, general sessions, the exhibit hall, breaks, continental
breakfasts, luncheons and evening reception.

Register by Monday, May 17, to receive a $250 discount. MFA members pay
just $1,500. Registrations from May 18 to June 1 are $1,750 for MFA
members. To make a hotel reservation, you first must register online for
Forum 2010.


For up-to-date conference information, to register and to discuss
supporting Forum 2010, visit the conference eBrochure, or contact Stacy
Hudson at 202.367.1140 or stacy@managedfunds.org.

-----------------------------------------------------------------------------


JetFin AGRO 2010, June 10, Geneva. Receive a 10% Discount as Opalesque user

Agriculture is the bright light of today’s investment universe. The rapid
rise in global demand for food is providing new opportunities for
investors.


JetFin AGRO 2010 CONFERENCE is the only event for investors, which
exclusively gathers top agricultural fund managers delivering strong
returns in challenging markets.


Special focus: Region specific investment opportunities.


JetFin AGRO 2010 CONFERENCE is the ultimate meeting point for investors in
search of sustainable and noncorrelated returns when investing in
agriculture. Leading successful agriculture investment managers present and
explain their investment strategies. Institutional investors and wealth
managers compare winning solutions, enabling them to take the right
investment decisions in key markets such as farming, soft commodities or
timber. Don’t miss the unique opportunity to participate to the


JetFin AGRO 2010 CONFERENCE Confirmed speakers :


- Peter-Erik Ywema,  General Manager, Sustainable Agriculture Initiative,
Belgium

- Nicolas Landolt,  Director, Sandoz Family Office,  CH / Brazil

- Giulio Franzinetti,  Managing Director, ASDF BV,  Netherlands

- John Coast Sullenger,  Fund Manager, GAIA Capital,  CH

- Olivier Baumgartner-Bezelgues,  Advisor, Altarius Asset Management,  CH

- Olivier Pairault,  Agriculture Portfolio Manager, BlueGold Capital
Management, UK / CH

- Paul Marland,  Partner, LCI (Luxembourg) SA,  Luxembourg

- Douglas King, Founder, Aisling Analytics,  CH / Singapore

- Mari Kooi,  CEO, Wolf International,  USA

- Shawn Johansen, Director, Sustainable Equity Partners,  USA

- Michel Tamisier,  Managing Partner, Elite Advisers,  Luxembourg

- Michael Whitehead,  Director., Macquarie Agricultural Funds Mgmt.,
Australia

- Detlef Schoen,  Founder, Aquila Capital Group,  Germany

- Pedro Herrera,  Senior Vice President, HSBC Securities,  USA

- Olivier Combastet, Partner, Pergam Finance,  France / Uruguay

- Gonzalo Fernandez Castro,  Founder, Lumix Capital,  CH / Argentina

- Jan Pensaert, Founder, Valiance Asset Management,  UK / Brazil

- Stephen Kenney,  Vice President, Hancock Agricultural Investment Group,
USA

- Anton Khmelnitski,  Founder, Elbrus Capital Investments,  Ukraine

- Ulo Adamson,  Partner, Trigon Capital,  Denmark

- Charles Vilgrain,  CEO, AgroGeneration, France / Ukraine

- Neil Crowder,  Co-Founding Partner, Chayton Capital,  UK

- Craig Tashjian,  Principal, Amerra Capital Management LLC,  USA

- Richard Davis, Fund Manager, BlackRock Investment Management, UK

More information & Registration:
http://www.jetfin.com/agro2010/eventinfo_en.php or contact Sophie Lavaud,
JetFin : 0041 22 839 8080.


-----------------------------------------------------------------------------


Administrative Options

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-----------------------------------------------------------------------------


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For more information about the Opalesque team and Opalesque Ltd. please use
this link.


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Disclaimer: The information contained in this newsletter
does not constitute an offer or solicitation to sell any security or fund
to or by anyone in any jurisdictions, nor should it be regarded as a
contractual document. Under no circumstances should the information
provided on this newsletter be considered as advice for any investment, or
as a sufficient basis on which to make investment decisions. The
information contained herein has been gathered by Opalesque Ltd. from
sources deemed reliable as of the date of publication, but no warranty
of accuracy or completeness is given. Opalesque Ltd. is not responsible
for and provides no guarantee with respect to any of the information
provided
herein or through the use of any hypertext link. Past results are no
indication
of future performance. All information in this newsletter is for
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and informational purposes and does not constitute investment, legal, tax
or
accounting advice.

Posted via email from IBFN (Islamic Banking & Finance Network) at Posterous

Thursday, May 20, 2010

Opalesque Islamic Finance Briefing 20. May 2010

To view an online version of this newsletter, please click: http://www.opalesque.com/IFB7758/Newsletter_05202010.html
Print | Submit News | Archives | Media Kit | Contact us
20 May 2010

News:

Services

Featured Services

 Add your event or product here

Needed now: Islamic SWFs

From Gulfnews.com: It took Islamic finance 40 years to reach the magical $1 trillion (Dh3.67 trillion) benchmark, and this niche market is on the march towards the next milestone of $2 trillion within the next five years — with Moody's predicting $5 trillion. (more...)

Email Add Comments

Top

Islamic bond sales rise 24pct as Sukuk outperforms

From Bloomberg: Islamic bond sales are growing at the fastest pace since 2007 as yields on securities complying with the religions ban on interest fall more than those on emerging- market debt even as Europe’s debt crisis worsens. (more...)

Email Add Comments

Top

Qatar Islamic bank to sell $750 mln Sukuk in 2010

From Businessweek.com: Qatar Islamic Bank SAQ, the Gulf state’s biggest Shariah-compliant lender, plans to sell as much as $750 million of bonds in its first Islamic debt offering, according to the company’s chief executive. (more...)

Email Add Comments

Top

$100mln real estate sukuk a success

From Tradearabia.com: The $100 million Commercial Real Estate Sukuk (Kuwait) has been successfully settled and paid for on its maturity date. (more...)

Email Add Comments

Top

Malaysia releases Sukuk bond details

From WSJ: Malaysia's dollar-denominated global Islamic bond, or sukuk, will have a five-year maturity and will be structured under the Ijarah concept, the lead managers for the sale said Wednesday. (more...)

Email Add Comments

Top

Islamic finance shows positive development trend

From Peopledaily.com.cn: Malaysian Prime Minister Najib Razak said here on Wednesday the development of Islamic finance was showing positive trend with growth as much as 10 to 15 percent recorded in some countries of the Islamic world. (more...)

Email Add Comments

Top

Malaysia: PM calls for Islamic finance transformation

From Thestar.com.my: Muslim countries must continue to play a leading role in transforming Islamic finance into a widely accepted system that is central to long-term economic stability globally, said Prime Minister Datuk Seri Mohd Najib Abdul Razak. (more...)

Email Add Comments

Top

Australia to review treatment of Islamic finance

From Bernama: The Australian government has asked its Board of Taxation to review the treatment of Islamic finance in Australia. "The review will be a comprehensive analysis of Australia's tax laws to ensure, where possible, they do not inhibit the provision of Islamic finance, banking and insurance products," Australia's Assistant Treasurer Senator Nick Sherry said in a statement on Wednesday. (more...)

Email Add Comments

Top

IDA pushes IFSC as major hub for Islamic banks and funds

From Independent.ie: IDA Ireland is understood to be planning to lead a roadshow to the Middle East as part of an effort to turn the International Financial Services Centre (IFSC) into a European hub for Islamic banks and funds. (more...)

Email Add Comments

Top

Bank proposed to fund Muslim green energy

From Thenational.ae: A new bank to finance clean energy projects in the Muslim world could be part of an effort by Islamic countries to forge closer economic bonds, Malaysia’s prime minister says. (more...)

Email Add Comments

Top

DIB sweetens Islamic loan market

From Thenational.ae: Dubai Islamic Bank (DIB) thinks it has a sweet deal for its customers – personal loans backed by sugar. The country’s oldest Islamic institution is offering the first Sharia-compliant personal loan in the Arab world. (more...)

Email Add Comments

Top

Jordan Islamic Bank sees double-digit growth - CEO

From Dailystar.com.lb: Jordan Islamic Bank, the country’s largest Islamic lender, expects double-digit growth this year as it taps fast-rising demand for Sharia-compliant products in an otherwise sluggish overall market, its CEO Musa Abdel-Aziz Shihadeh said. (more...)

Email Add Comments

Top

HLTM Takaful’s new shariah plan

From Btimes.com.my: HONG Leong Tokio Marine Takaful Bhd (HLTM Takaful) has launched a new five-year syariah-compliant investment-linked plan that invests in Chinese stocks. (more...)

Email Add Comments

Top

Battle of the Quants - LONDON - From High Frequency/Low Latency to Machine vs. Human Intellingence; Quant Networking, Discussions and presentations, 9th June

The Battle of the Quants - LONDON returns for the 3rd year. A new innovative lineup promises to deliver the most cutting edge Quantitative Hedge Fund Event in the world. Featuring the financial world's most exciting quantitative managers, investors and technology providers, the full day event will examine how quantitative finance is increasingly finding its way into all corners of the financial world. Fascinating panel discussions include High Frequency Trading, UCITS and Quants, Quant investors’ allocation priorities, latest quantitative innovations, and of course the “Battle” between Discretionary VS. Quantitative trading.

"Thanks for this! I really enjoyed New York and found the cap intro event and the conference very useful.I really like to say that I think that you organize an excellent event which is fun as well…your personal touch makes the difference"
Frank Holle, President, Quant Asset Management

"I wanted to thank you and your team for your hospitality and the content at the "Battle". We certainly enjoyed the event and found it very informative from both a practitioners point of view but also from a networking standpoint"
John Donahue, Phase Capital

"Just wanted to thank you again for the opportunity to participate in your excellent event last week! It was a top-notch event.
I hope to participate in future events that you organize. Thanks!”
Ranjan Bhaduri, PhD CFA CAIA MMath MBA, AlphaMetrix Alternative Investment Advisors

May Fair Hotel, Mayfair, London
9:30am Registration
For additional information please contact, Bartt C. Kellermann, bartt@battleofthequants.com or 212.202.3228 www.battleofthequants.com

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MFA's Forum 2010, Chicago, June 8-9, 2010

Forum 2010, June 8-9, 2010, The Drake Hotel, Chicago, is MFA's premier managed futures and global macro investment strategies conference and exposition for professionals in managed futures, hedge funds, funds of funds and their service providers and investors. Produced by MFA, Forum 2010 will feature an extensive educational program, special networking opportunities, and an informative exhibition of products and services of interest to industry professionals. Forum 2010 will introduce MFA's popular business meeting lounges - where delegates can hold meetings with clients and prospects onsite in the comfort of The Drake Hotel. Refreshments will be available. Your full conference registration includes entrance to the keynote speakers, general sessions, the exhibit hall, breaks, continental breakfasts, luncheons and evening reception.

Register by Monday, May 17, to receive a $250 discount. MFA members pay just $1,500. Registrations from May 18 to June 1 are $1,750 for MFA members. To make a hotel reservation, you first must register online for Forum 2010.

For up-to-date conference information, to register and to discuss supporting Forum 2010, visit the conference eBrochure, or contact Stacy Hudson at 202.367.1140 or stacy@managedfunds.org.

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JetFin AGRO 2010, June 10, Geneva. Receive a 10% Discount as Opalesque user

Agriculture is the bright light of today’s investment universe. The rapid rise in global demand for food is providing new opportunities for investors.

JetFin AGRO 2010 CONFERENCE is the only event for investors, which exclusively gathers top agricultural fund managers delivering strong returns in challenging markets.

Special focus: Region specific investment opportunities.

JetFin AGRO 2010 CONFERENCE is the ultimate meeting point for investors in search of sustainable and noncorrelated returns when investing in agriculture. Leading successful agriculture investment managers present and explain their investment strategies. Institutional investors and wealth managers compare winning solutions, enabling them to take the right investment decisions in key markets such as farming, soft commodities or timber. Don’t miss the unique opportunity to participate to the

JetFin AGRO 2010 CONFERENCE Confirmed speakers :

  • Peter-Erik Ywema, General Manager, Sustainable Agriculture Initiative, Belgium
  • Nicolas Landolt, Director, Sandoz Family Office, CH / Brazil
  • Giulio Franzinetti, Managing Director, ASDF BV, Netherlands
  • John Coast Sullenger, Fund Manager, GAIA Capital, CH
  • Olivier Baumgartner-Bezelgues, Advisor, Altarius Asset Management, CH
  • Olivier Pairault, Agriculture Portfolio Manager, BlueGold Capital Management, UK / CH
  • Paul Marland, Partner, LCI (Luxembourg) SA, Luxembourg
  • Douglas King, Founder, Aisling Analytics, CH / Singapore
  • Mari Kooi, CEO, Wolf International, USA
  • Shawn Johansen, Director, Sustainable Equity Partners, USA
  • Michel Tamisier, Managing Partner, Elite Advisers, Luxembourg
  • Michael Whitehead, Director., Macquarie Agricultural Funds Mgmt., Australia
  • Detlef Schoen, Founder, Aquila Capital Group, Germany
  • Pedro Herrera, Senior Vice President, HSBC Securities, USA
  • Olivier Combastet, Partner, Pergam Finance, France / Uruguay
  • Gonzalo Fernandez Castro, Founder, Lumix Capital, CH / Argentina
  • Jan Pensaert, Founder, Valiance Asset Management, UK / Brazil
  • Stephen Kenney, Vice President, Hancock Agricultural Investment Group, USA
  • Anton Khmelnitski, Founder, Elbrus Capital Investments, Ukraine
  • Ulo Adamson, Partner, Trigon Capital, Denmark
  • Charles Vilgrain, CEO, AgroGeneration, France / Ukraine
  • Neil Crowder, Co-Founding Partner, Chayton Capital, UK
  • Craig Tashjian, Principal, Amerra Capital Management LLC, USA
  • Richard Davis, Fund Manager, BlackRock Investment Management, UK

More information & Registration: http://www.jetfin.com/agro2010/eventinfo_en.php or contact Sophie Lavaud, JetFin : 0041 22 839 8080.

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Pre-order the 2010 Fund Admin Fact Book for $999 – Limited Time Offer!

Carbon 360 is currently making its industry leading research available for a limited time discounted "Bundle Package".. Pre-order Carbon's 2010 Fund Admin Fact Book, now in production, and they will provide a 40% discount on this upcoming new report and give away the 2009 Fact Book FOR FREE to those who pre-order now. This offer expires May 31st.

The 2009 Fact Book contains:

  • Over 500 pages representing 2000+ man-hours of research
  • Service and technology details of 150 admins
  • Detailed AUA strategy breakdowns by domicile and size

Find details of the Bundle and order here: http://www.carbon360.com/fund-administration-fact-book.cfm
or call +1 -203-722-4985 and ask for Greg Despoelberch for more information and free samples.

ONLY for traders, hedge fund managers, investors: Opalesque Active Trader Chat

Get a FREE month of the Opalesque realtime Active Trader Chat, the longest running trading community of market professionals, traders and hedge funds focusing on the U.S. markets. The service was launched in 2001 and over half of its members have been in the forum for over 5 years.

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What others are reading:

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These terms were the most active searches on the Opalesque site within the last 24 hours. This list is an accurate reflection of interests and concerns within the industry - in real time. The larger the font, the more intense was the search for that search term.

Yesterday's Top Stories

Man GLG Update – Comment: Man Group's purchase of GLG for $1.6bn sets bar for hedge fund deals, GLG executives to get $560m from takeover, More regulation is cause of consolidation in any industry, hedge funds no exception, Comment: Rise and fall of a hedge fund

Service Providers – Barclays expands prime services team as Asia draws hedge funds, Hurt hedge fund servicer GlobeOp tightens up procedures, Fixed income manager Cutwater and Calypso Technology Partner to deliver new ALM platform

Opalesque Exclusive: Allocators still not convinced whether they should put more funds in CTAs

A

Posted via email from IBFN (Islamic Banking & Finance Network) at Posterous

Wednesday, May 19, 2010

Opalesque Islamic Finance Briefing 17. May 2010

To view an online version of this newsletter, please click: http://www.opalesque.com/IFB7712/Newsletter_05172010.html

Print | Submit News | Archives | Media Kit | Contact us
17 May 2010

News:

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 Add your event or product here

Islamic dollar bond 2010 sales may reach $5 bln

From Bloomberg: Sales of dollar-denominated Islamic bonds may reach $5 billion this year, matching levels of 2009, led by Asia and Gulf Arab nations, said an official at HSBC Holdings Plc, the biggest underwriter of such debt this year. (more...)

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Global sukuk issuances hit $8.5 billion in 2009

From Khaleejtimes.com: Global sukuk issuances touched Dh31 billion ($8.5 billion) in 2009 with an increase expected this year as the Islamic bonds worth Dh11 billion ($3 billion) have already been issued across the Gulf Cooperation Council. (more...)

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Islamic bond issuers wait for calm to return to markets

From Thenational.ae: Upheaval in global markets is likely to further delay a major pickup in sukuk issues until the third quarter, experts say. At present, issuers in the Middle East and south Asia have a small window of opportunity if they want to issue before summer, when business slows and almost stops during Ramadan.  (more...)

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GE Capital plans another benchmark Islamic bond: Executive

From Reuters: GE Capital, a unit of General Electric Co. , plans to issue its second Islamic bond in late 2010 or in 2011, a senior executive said on Sunday. Aris Kekedjian, chief executive of GE Capital Middle East and Africa, said the Islamic bond, or sukuk, would likely be a benchmark issue. (more...)

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Standard Chartered plans to arrange over $4bln Sukuk this year

From Zawya Dow Jones: Standard Chartered PLC plans to arrange more than $4 billion worth of Islamic bonds, or sukuk, globally this year exceeding last year's figures as confidence and liquidity return to credit markets, a senior executive said. (more...)

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Al-Rajhi, Cagamas to issue 'first-of-its kind' sukuk

From Arabnews.com: The sukuk, which will be launched in June 2010 by Cagamas and Al-Rajhi Bank Malaysia Berhad, will be aimed at investors from the Gulf Cooperation Council (GCC) countries, the European Union, North America, Malaysia, Singapore, Brunei and East Asia.  (more...)

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UAE an important cornerstone of Sukuk market

From MENAFN Press: The UAE will remain the cornerstone of the sukuk market in the region. Global sukuk issuances including Malaysia for 2009 touched AED 31 billion (US$ 8.5 billion) with an increase expected this year. The current year has already witnessed AED 11 billion (US$ 3 billion) of overall issuances across the Gulf Cooperation Council (GCC) region. (more...)

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Unicorn says U.S. company to sell $250 mln Islamic bond

From Bloomberg: Unicorn Investment Bank BSC, a closely held Islamic investment bank, is working on a $250 million Islamic debt offering for a U.S. company, a bank official said. (more...)

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Bahrain bank to arrange Indonesian Islamic bonds

From Thejakartapost.com: Two Indonesian companies have appointed Bahrain-based investment bank Elaf Bank to arrange the issuance of their Islamic bonds (sukuk) amounting to US$84 million in total to be sold both in domestic and international financial markets. (more...)

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Oasis aims to build Shariah-investment fund brand

From Arabnews.com: Oasis Group Holdings is the pioneer of Shariah-compliant investment products - both equity and property funds and REITs (real estate investment trusts) - in South Africa since it launched its first Islamic fund in August 1998, the Oasis Crescent Global Equity Fund.  (more...)

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Banking jobs un-Islamic?

From Kuwaittimes.net: A powerful Islamic seminary in northern India has issued a fatwa, or decree, against Muslims working in banks, a spokesman said yesterday, deeming it a violation of Islamic law. The ruling by the Darul-Uloom Deoband, India's oldest Sunni-run seminary, in northern Uttar Pradesh state, was issued last week but made public yesterday, Mufti Shakeel of the "Fatwa" department said. (more...)

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Indonesia: Shariah lenders scramble for golden opportunity in the pawn shop market

From Thejakartaglobe.com: The nation's Shariah banks are catching gold fever as more lenders launch pawn shop services to allow owners of the precious metal quick access to cash. (more...)

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Islamic instrument absorbs surplus of Islamic banks

From Yobserver.com: Surpluses of Islamic banks or Islamic instrument will support development through financing infrastructure projects and various sectors of trade, health, education and other, which proved the success of this great experiment in contributing to the development process. (more...)

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Bank Sarasin-Alpen arranges $120 mln Murabaha financing facility for Noor Islamic Bank

From Albawaba.com: Bank Sarasin-Alpen (ME) Limited, a subsidiary of Bank Sarasin & Co. Ltd, a leading Swiss private bank arranged a USD 120 million Murabaha financing facility for Noor Islamic Bank PJSC. The finance facility which has been funded by Bank Sarasin & Co. Ltd, Switzerland has been designed to fund Noor Islamic Bank's future investments and balance sheet management. (more...)

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The opinions of Islamic banking customers

From Aawsat.com: "Do you believe that Islamic banks differ from conventional banks in terms of their transactions complying with Islamic Shariaa law?" This is the questioned asked in a poll on the CNN Arabic website. At the time of this article going to press 1,974 people had responded to this poll; 88 percent voting "No" and 12 percent voting "Yes."  (more...)

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UAE banks surpass market predictions

From Gulfnews.com: Most UAE banks have reported first quarter profits surpassing the market expectations. However, bankers and analysts were cautious about expectations for the next three quarters as a potential rise in bad loans, sluggish loan growth and high funding costs were expected to curtail their full-year performance. (more...)

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Ithmaar launches mobile e-banking service

From Tradearabia.com: Ithmaar Bank, a premier retail-focused Islamic bank, said it has launched Bahrain's first mobile online banking solution that allows customers to conduct a full range of banking transactions through use of smart phones. (more...)

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Al Baraka Egypt Bank Q1 net more than triples

From Reuters: Al Baraka Egypt Bank, an Islamic bank, more than tripled its net profit for the first quarter to 44.0 million Egyptian pounds ($7.85 million), the stock exchange said on Sunday. (more...)

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Kuwait's NBK 2010 net profit could reach $1bln

From Tradearabia.com: National Bank of Kuwait, the country's biggest bank, may post $1 billion of net profit in 2010, its chief executive told Al Arabiya television on Sunday. (more...)

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Dubai Bank recognised for 'Best Marketing Campaign' at Islamic Business and Finance Awards

From Dubaichronicle.com: In recognition of its commitment to delivering creative, innovative and relevant products and services that raise the bar across the Islamic banking industry, Dubai Bank was presented with the "Best Marketing/Advertising Campaign" award for its Kunooz Savings Programme at the 2009 Islamic Business and Finance Awards held recently in Dubai. (more...)

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Islamic finance at a crossroads

From Investorsoffshore.com: The Islamic banking industry has a lot of catching up to do if it is to compete with the conventional finance industry, according to one prominent banker. (more...)

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Standard Islamic finance rules won't work – Lawyer

From Thebriefonline.com: Standardising the Islamic finance market will not benefit the industry, Clifford Chance partner head of capital markets and structured finance for the Middle East, Debashis Day has warned. (more...)

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Malaysia's Islamic finance sector turns to "green"

From Hktdc.com: World Bank and International Finance Corp (IFC) officials arrive this week (10 May) in Malaysia to discuss the establishment of an Islamic financing facility for green technology.  (more...)

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Gulf needs currency with sound fundamentals: Bahrain

From Dailystar.com.lb: Gulf Arab oil producers need a strong single currency, and are watching the euro zone's troubles, but their goal is still a long way off, Bahrain's Finance Minister Sheikh Ahmad bin Mohammad al-Khalifa said. (more...)

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Luxembourg is marching ahead

From Arabnews.com: Luxembourg, which held a landmark Islamic finance showcase titled "Relying on Innovation, Building on Expertise" at the 7th Islamic Financial Services Board (IFSB) annual summit in Manama recently, will host the 8th IFSB annual summit in the Duchy in 2011. (more...)

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Islam debate about more than burqas -EU imams

From Maktoob.com: Headscarves, minarets and burkas are given too much emphasis in the dialogue about Islam in Europe, delegates at a conference of European imams in Vienna said Sunday. (more...)

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Book review: Guide to Islamic finance

From Thehindu.com: Since the inception of Islamic banking, about three decades ago, the number and reach of Islamic financial institutions worldwide has risen significantly, writes Brian Kettell in 'Islamic Finance in a Nutshell'. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries, he adds. (more...)

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The Second Annual SkyBridge Alternatives (SALT) Conference, May 19-21, Bellagio, Las Vegas

The second annual SkyBridge Alternatives (SALT) Conference will take place May 19-21, 2010 at Bellagio in Las Vegas, Nevada. The Conference will provide an unmatched opportunity to connect with global leaders and network with your industry peers. Over three days, speakers and attendees from around the world will discuss prevailing issues as well as investment ideas and strategies within the context of a changing economic environment.

Registration is now open and will continue until May 14, 2010. The program, speaker roster, partners list, and other SALT 2010 information will continue to evolve as the event approaches, so be sure to visit www.saltconference.com often for the latest news.

SkyBridge Capital is a leading global alternative investment firm providing developmental capital to hedge fund managers and other types of asset manager businesses. When making an investment, SkyBridge typically seeks to secure "Special Rights" that enable their investors to participate in the managers' growth and share in the fees and incentive allocations earned on all assets. The firm's team of experienced professionals coordinates a global network of partners in sourcing hedge fund managers and providing business-building and investment-support services. SkyBridge Capital has strategic investments in seven funds. In aggregate, SkyBridge Capital and its underlying managers currently have approximately $1.5 billion under management.


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Battle of the Quants - LONDON - From High Frequency/Low Latency to Machine vs. Human Intellingence; Quant Networking, Discussions and presentations, 9th June

The Battle of the Quants - LONDON returns for the 3rd year. A new innovative lineup promises to deliver the most cutting edge Quantitative Hedge Fund Event in the world. Featuring the financial world's most exciting quantitative managers, investors and technology providers, the full day event will examine how quantitative finance is increasingly finding its way into all corners of the financial world. Fascinating panel discussions include High Frequency Trading, UCITS and Quants, Quant investors' allocation priorities, latest quantitative innovations, and of course the "Battle" between Discretionary VS. Quantitative trading.

"Thanks for this! I really enjoyed New York and found the cap intro event and the conference very useful.I really like to say that I think that you organize an excellent event which is fun as well…your personal touch makes the difference"
Frank Holle, President, Quant Asset Management

"I wanted to thank you and your team for your hospitality and the content at the "Battle". We certainly enjoyed the event and found it very informative from both a practitioners point of view but also from a networking standpoint"
John Donahue, Phase Capital

"Just wanted to thank you again for the opportunity to participate in your excellent event last week! It was a top-notch event.
I hope to participate in future events that you organize. Thanks!"
Ranjan Bhaduri, PhD CFA CAIA MMath MBA, AlphaMetrix Alternative Investment Advisors

May Fair Hotel, Mayfair, London
9:30am Registration
For additional information please contact, Bartt C. Kellermann, bartt@battleofthequants.com or 212.202.3228 www.battleofthequants.com

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MFA's Forum 2010, Chicago, June 8-9, 2010

Forum 2010, June 8-9, 2010, The Drake Hotel, Chicago, is MFA's premier managed futures and global macro investment strategies conference and exposition for professionals in managed futures, hedge funds, funds of funds and their service providers and investors. Produced by MFA, Forum 2010 will feature an extensive educational program, special networking opportunities, and an informative exhibition of products and services of interest to industry professionals. Forum 2010 will introduce MFA's popular business meeting lounges - where delegates can hold meetings with clients and prospects onsite in the comfort of The Drake Hotel. Refreshments will be available. Your full conference registration includes entrance to the keynote speakers, general sessions, the exhibit hall, breaks, continental breakfasts, luncheons and evening reception.

Register by Monday, May 17, to receive a $250 discount. MFA members pay just $1,500. Registrations from May 18 to June 1 are $1,750 for MFA members. To make a hotel reservation, you first must register online for Forum 2010.

For up-to-date conference information, to register and to discuss supporting Forum 2010, visit the conference eBrochure, or contact Stacy Hudson at 202.367.1140 or stacy@managedfunds.org.

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Posted via email from IBFN (Islamic Banking & Finance Network) at Posterous