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As William Samuel Johnson, one of the US founding fathers once said: “He knows not his own strength who hath not met adversity.”
Well, it’s fair to say that adversity has been a common trait in the hedge fund industry over the last couple of years as managers have struggled in their alchemical quest to turn base ideas into investment gold.
Performance has lagged broader market indices, trades have become crowded, investors have become more astute and cutthroat in their allocation process, cybersecurity threats have risen exponentially, whilst the weight of regulatory compliance has continued to build.
2016 was, in
- 10/01/2017
Interview with James Alexander & Nick Briscoe – Invast Global is a premium, multi-asset prime services brokerage serving the needs of hedge funds, retail brokerages, high frequency trading firms and sophisticated clients. The company provides access to industry-leading OTC FX and Commodities liquidity, along with synthetic DMA access to over 30 global stock and futures exchanges. The Invast Global PurePrime facility, with optimised liquidity streams and connectivity options is designed specifically to meet the needs of small and mid-sized trading firms.
The company has experienced rapid expansion over recent years as demand for prime services grows strongly amidst a regulatory-driven retreat
- 10/01/2017
- 10/01/2017
Latest figures from Eurekahedge reveal that hedge funds gained 1.01 per cent during the month of December, with 2016 returns coming in at 4.48 per cent.This compares with the MSCI AC World Index (Local) gaining 2.38 per cent in December with its 2016 returns coming in at 7.37 per cent.
The firm writes that North American equity markets traded higher in December as the Trump-driven reflation theme buoyed markets in a somewhat 'honeymoon' period post-election. The S&P 500 Index gained 1.82 per cent during the month, with the DJIA also up 3.34 per cent.
Eurekahedge writes that central bank actions
- 10/01/2017
Nordea Asset Management has expanded its suite of outcome-oriented solutions with the launch of the Nordea 1 – Flexible Fixed Income Plus Fund.
As the current low yield environment challenges the return potential of high-quality fixed income assets, the fund aims to provide a solution for conservative investors willing to take on limited and controlled risk in a bid to achieve returns more in line with historical fixed income performance.
The strategy invests across all fixed income asset classes, but it also has the flexibility to have a limited exposure to equities of up to 15 per cent. The
- 10/01/2017
Family Office Networks is expanding its hedge fund division to help a select group of emerging and established investment managers raise assets from the fast-growing family office sector.
"New managers typically rely on 'friends and family' money or perhaps a key investor to launch their fund. Once they've launched, however, they want allocations from family offices but find them to be hard to identify and get in front of to tell their story. That's where we come in. Our group has a global network of 7,000 family offices and we understand the investment preferences of every one of them," says
- 10/01/2017
itarle UK, a provider of multi-asset best execution technology, has appointed Tom Middleton to head its quantitative services department.
A Cambridge PhD and Olympic rower, Middleton was a founder member of the team developing the first set of algorithms at Citigroup.
He went on to lead the team from 2005 to 2009 while building Citi’s European smart order router (SOR) from scratch and looking after the release of CitiMatch (EMEA), which went on to become one of the most successful dark pools in Europe.
Between 2010 and 2016, Middleton held roles in quantitative trading and quantitative risk management
- 10/01/2017
BGC Partners, a brokerage company servicing the financial and real estate markets, has appointed Arran Rowsell as head of credit strategy in London.
Rowsell will report to Tony Warner, executive managing director and head of BGC's brokerage business in London.
Rowsell will oversee the coordination of credit strategy across BGC Partners, Mint Partners and RP Martin in the UK. He worked most recently as a head of flow credit trading for several major sell‐side US and European banks, including Commerzbank, Barclays and Credit Suisse. Earlier in his career, he worked in credit trading at Goldman Sachs and Lehman Brothers.
- 10/01/2017
- 10/01/2017
CBOE Holdings has priced an underwritten public offering of USD650 million of its 3.650 per cent Senior Notes due 2027.
The offering is expected to close on 12 January 2017, subject to customary closing conditions.
CBOE Holdings estimates that the net proceeds from the offering will be approximately USD643 million, after deducting the underwriting discount and estimated offering expenses.
CBOE Holdings intends to use a portion of the net proceeds from the offering to fund, in part, the previously announced acquisition of Bats Global Markets, including the payment of related fees and expenses and the repayment of Bats'
- 10/01/2017
- 10/01/2017
Hedge funds posted gains across all strategies in December, with the HFRI Fund Weighted Composite Index (FWC) rising to a record index value level as oil prices surged, equities gained and US interest rates increased into year end.
According to data from HFR, the FWC advanced 1.1 per cent in the month, bringing the annual return to +5.6 per cent and the Index Value to 12,966, surpassing the prior record from May 2015 and the highest value since inception in January 1990. The HFRI Asset Weighted Composite Index (AWC) meanwhile, also gained 1.1 per cent in December. In a year
- 10/01/2017
Semper Capital Management, a privately-owned New York-based boutique fixed-income investment manager, has appointed Zach Cooper, formerly Semper's deputy chief investment officer, as chief investment officer.
Cooper, who will continue as one of the firm's senior portfolio managers, replaces Jay Menozzi who has retired from the industry following his 16-year tenure at Semper Capital Management.
"I'm looking forward to continuing to support Semper's strong growth and performance across our suite of structured credit products, in collaboration with our exceptional team of investment professionals. The value in the non-agency mortgage sector along with other structured credit sectors persists and may be even
- 10/01/2017
- 10/01/2017
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