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Maitland Fund Services, specialist provider of administration services to the asset management industry, has seen assets under administration exceed R500 billion for the first time.

South African wealth and asset management company Peregrine Group in early June announced a 126% increase in basic earnings to R267 million for the year to the end of March 2010, with headline earnings of R266.5 million that were 265% higher than last year.

IDS Group (IDS), the global specialist investment administrator headed by Ian Hamilton, has partnered with LC Abelheim (LCA), a Mauritian-based management company, to offer fund administration to the Indian Ocean region.

Nedbank Capital is continuing to build its Prime Services team with the recent appointment of Wayne Bennett as head of client management.

The Nexus 130:30 Fund has fared well in volatile market conditions, with a 2.32% return in May bringing its gains since inception in March 2009 to a net 35.09%.

Trillian Capital has officially launched its first hedge fund as of June 1, a long/short strategy that takes a momentum trading approach to the top 100 listed counters in the South African market.

Cadiz Asset Management has launched two new African equity products as of June 1, having hired ex-Alden Global Africa fund manager Marc Sullivan to manage the funds.

May was a month of uncertainty and volatility in global equity markets, marked by growing concerns about sovereign credit risk, the "flash crash" of May 6 when the Dow dropped as much as 1,000 points, Germany's temporary ban on naked short selling and the BP oil spill in the Gulf of Mexico.

London-based Insparo Asset Management has predicted a surge in frontier market investment from Russia's high-net-worth investor base, as investors look to less correlated investments.

Absolute Return for Kids (ARK), the international charity founded in 2002 by senior figures in the alternative investment industry, raised £14.1 million at its ninth annual gala dinner held in London on May 13.