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Hedge fund performance is flat year to date, with Global Macro and CTAs down, while Fixed Income Arbitrage and Event Driven have outperformed, according to Lyxor’s latest Hedge Fund Brief.
Lyxor says that CTA and Macro managers suffered on their FX bucket and in particular on their long USD positions versus the Euro. Some Macro managers maintaining a preference for European equities were also penalised to the extent that the European equity market underperformed the US market. Some CTAs were penalized by long energy contracts within the commodity space.
On the positive side, Fixed Income Arbitrage and L/S Credit funds
- 16/02/2017
One of the persistent pain points for alternative fund managers is finding a way to streamline the investor onboarding process by automating the subscription document process. To date, this has remained a notoriously inefficient and error-prone set of processes, stymieing the ability for managers – both hedge funds and PERE funds – to bring investor capital into funds and put that capital to work in a timely fashion.
Focus on the front office
A recent survey by MergerMarket and Pepper Hamilton (Going the Distance: The Expanding Lifecycles of Private Equity Funds) finds that the entire lifecycle of PE
- 16/02/2017
Heptagon Capital has launched three new UCITS funds for US-based managers via it’s USD2 billion Irish UCITS fund company. This takes to 11 the total number of strategies now available to UCITS fund investors.
December manager launches resulted in a raise of USD145 million for the Emerging Market Equity strategy managed by Driehaus Capital Management in Chicago. In addition, USD25 million was raised for the Driehaus US Micro Cap Equity strategy, which has outperformed in 18 of its 20 years of existence, and whose composite is the top-performing US equity strategy of any style in the eVestment All US Equity
- 15/02/2017
Close to 70 per cent of fund manager clients, prospective clients and consultants attending a Northern Trust event on regulation believe that the upcoming regulatory environment will demand more of their time, compared with time spent over the past year.
Despite the increasing amount of time required to comply with regulatory compliance, the majority of those surveyed (60 per cent) had not considered utilising technologies such as Blockchain, big data, robo advisors and cognitive computing, to aid regulatory compliance.
“Whilst the time spent complying with new regulation remains one of the greatest challenges for fund managers, it is not surprising
- 15/02/2017
JonesTrading Institutional Services has appointed David Walrod (pictured) as a Managing Director and Head of Financial Services Research in the firm’s New York office.
Walrod will focus initially on mortgage REIT’s. JonesTrading research provides portfolio managers and traders with market colour and information that aid in developing investment strategies.
Walrod has over 20 years’ experience. Prior to JonesTrading, he was an Equity Research Analyst at Ladenburg Thalmann. He served as a Financial Sector Specialist at JP Morgan and a Senior Equity Analyst at Ridgeworth Capital Management, covering financial services stocks. He began his career as an Equity Analyst at Keybanc Capital
- 15/02/2017
Euronext has formed a strategic partnership with AX Trading, a US-based FinTech company, to create a new block trading service for equities.
The platform will be based on AX Trading’s leading edge technology and owned and operated by Euronext. The service will cover large in scale orders in European equities from small caps to blue chips. Market participants across Europe will be able to execute blocks in a trusted environment that bridges the gap between human, high-touch trading and electronic, low-touch execution. The platform is scheduled for launch in mid-2017 pending regulatory approval.
Regulatory change, technology, best execution and
- 15/02/2017
Australia-based litigation funder IMF Bentham, on behalf of its US affiliate Bentham IMF, has launched a USD200 million vehicle expressly to back its growing US portfolio.
This is the parent company’s first formal investment vehicle and will be used exclusively to finance its US cases and investments. Bentham’s unnamed partner, affiliated with a prominent hedge fund, is committing USD150 million while IMF Bentham will commit up to USD50 million.
Since launching US operations in 2011, Bentham has made 45 separate investments in American litigation matters, concluding 14 of those with an average internal rate of return of 83 per cent
- 15/02/2017
Dyal Capital Partners (Dyal), a division of Neuberger Berman Group, has closed Dyal Capital Partners III (PE), its third fund, with approximately USD5.3 billion of committed capital.
Dyal increased the target fund size by over USD2.0 billion during the marketing period, as investment opportunities increased and investor interest in the strategy was strong. The fund was heavily oversubscribed at the final close.
Aggregate commitments across all Dyal funds now total more than USD8.7 billion from 160 unique global investors, solidifying Dyal's position as the leading provider of minority equity capital to well-established private equity and hedge fund management companies. Dyal
- 15/02/2017
Semper Capital Management’s Semper MBS Total Return Fund (the Fund) has reached USD700 Million AUM less than four months after reaching USD500 million AUM in October 2016.
In August 2016, the Fund crossed its 3-year mark and received a 5-Star Overall Morningstar Rating (out of 235 non-traditional bond funds as of January 31, 2017). The institutional share class (SEMMX) and the investor share class (SEMPX) each received a 5-Star Overall Morningstar Rating.
"From a fundamental standpoint, the sector's credit underpinnings continue to strengthen," explains Greg Parsons (pictured), CEO and Investment Committee Chair of Semper Capital. "We continue to remain confident in the market's ability
- 15/02/2017
Quantitative investment firm WorldQuant has launched WorldQuant Accelerator, an independent portfolio manager platform comprising approximately 15 teams, a number the company is committed to doubling in the next two years.
World Quant says the platform will continue to attract and retain exceptional independent portfolio managers, providing them with full access to the firm’s leading technology and capabilities, including proprietary impact modelling and back-testing technologies. Managers will benefit from the full support of WorldQuant’s established internal Operations, Execution and Data teams, allowing them the opportunity to grow and develop more rapidly in an entrepreneurial environment without having to manage the challenges
- 15/02/2017
- 15/02/2017
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