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PhaseCapital has appointed Michael Ning as chief investment officer (CIO). Ning will be responsible for PhaseCapital’s investment strategies and research process and will work to further refine the Boston-based asset manager’s investment platform.   Ning, a 20 year industry veteran, most recently served as senior vice president and portfolio manager, multi-asset absolute return strategy at First Eagle Investment Management. Prior to this, he held positions such as senior vice president and portfolio manager, absolute return strategy and head of quantitative credit research with AllianceBernstein after beginning his career at Citigroup.   “The availability of so many data points today requires
In a disappointing start to the year after a challenging 2016, all Societe Generale CTA indices posted negative returns in January. The flagship SG CTA Index, SG Trend Index, and SG CTA Mutual Fund Index were all in the low negative territory, down 1.13 per cent, 1.16 per cent, and 0.87 per cent respectively.   Conditions were even more challenging for short term traders, with the SG Short Term Trader Index posting -4.07 per cent.   The SG Trend Indicator reflected the difficult conditions for trend followers, ending down 6.46 per cent. Currencies and commodities both contributed negatively, at -4.15
Hedge funds posted strong gains in early 2017 as Donald Trump was inaugurated as US President, led by the performance of equity hedge strategies, the largest area of hedge fund industry investor capital, according to data from HFR. The HFRI Fund Weighted Composite Index (FWC) gained 1.2 per cent for the month, the strongest beginning to a calendar year since the +2.5 per cent return to begin 2013.   It extends the record Index Value to 13,107 and tops the return of the Dow Jones Industrial Average (DJIA), as well as most European equity markets, over the same period.  
Three key characteristics are essential for firms seeking success in the hedge fund industry – investing in people, sound business infrastructure and a focus on relationships with their investors, according to a survey of senior individuals in the hedge fund industry. The poll, carried out by EY and the Alternative Investment Management Association (AIMA), aimed to identify common characteristics of successful hedge fund managers over time, strategy and geography, and reveals the thoughts of 40 highly experienced, senior individuals at hedge fund management firms in the US, the UK and Asia-Pacific.   The collective assets under management of the firms
Drawing on data compiled for the 2017 Preqin Global Hedge Fund Report, Preqin has created league tables of hedge funds that have most consistently delivered strong, stable performance. Preqin says the intention is not to endorse these funds, but rather to illustrate those that have performed the most consistently over the period January 2012 to December 2016.   Seven strategies are represented: equity strategies, macro strategies, event driven strategies, credit strategies, relative value strategies, multi-strategies and CTAs.   These funds were determined as most consistent using a percentile rank methodology across four metrics (annualised return, annualised volatility, Sharpe ratio and
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The European Energy Exchange (EEX) and the European EPEX SPOT power exchange have met with representatives of the EU Commission and the Federal Ministry for Economic Affairs at the “E-world energy & water” trade fair to discuss the legislative proposals of the so-called “Winter package” (Clean energy for all Europeans) of the EU Commission. This is a package consisting of eight directives and regulations intended to safeguard the competitiveness of the European energy market in view of global changes.   The Energy Union aimed at in this framework paves the way for the European power market design of the future.
ADVFN has launched a Brexit Follow Feed which delivers information on stocks, indices and currency pairs directly affected by the UK’s decision to leave the EU. The free service gives investors the big picture on key events for stocks and other markets that have been identified as Brexit correlated.   Stock sectors include banks, airlines, estate agents and house builders. Barclays (LSE:BARC), EasyJet (LSE:EZJ), Foxtons (LSE:FOXT) and Taylor Wimpey (LSE:TW.) are examples of some of the companies featured.   The Brexit Follow Feed page also includes the currency pairs of GBP/USD, GBP/EUR, GBP/JPY and GBP/RUB, and leading global indices.  
Lyxor Asset Management has teamed up with Sandler Capital Management to launch the Lyxor/Sandler US Equity Fund, a US-focused long/short equity strategy, allowing investors to gain exposure to US equities amid an improving outlook for the US economy, while mitigating the impact of volatile market conditions on their portfolio. The fund focuses on investing across a broad range of US industries and adopts a dynamic long/short approach to identify growing businesses (long positions) and challenged businesses (short positions), ensuring an active management of the US equity market exposure. Risks are managed through diversification, close attention to macro factors and the
Global macro and CTA managers experienced negative returns in January due to long USD positions, especially versus the Euro, according to Lyxor’s latest weekly hedge fund brief. Meanwhile, fixed income arbitrage, L/S credit, and event-driven managers outperformed both last week and in January overall.   Fixed income arbitrage and L/S Credit funds have been supported lately by both alpha and beta components. The rise in bond yields has created arbitrage opportunities such as the deviation between cash and futures bond prices (the so-called basis). Beta conditions were also supportive as high yield spreads tightened in January. A simple quantitative exercise

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