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Large institutions face a Catch 22 when it comes to investing in hedge funds. On the one hand, despite performance having been muted for the last few years, institutions still broadly appreciate their importance as part of a diversified portfolio. On the other hand, negative media coverage that continuously compares hedge fund performance to the broader markets, not to mention continued questioning over exorbitant fees, means that institutions face external pressures to justify their allocations.
“What is interesting is that the major flows into hedge funds really seem to be driven by the super institutions such as public and private
- 12/12/2016
Lyxor Asset Management runs one of the most well established MAPs in the hedge fund industry, having established it in 1998. It has seen a lot of hedge fund talent come and go over that time.
When it comes to investing in emerging managers, Lyxor is well placed to provide investors with the confidence, and assurances, needed. Whilst historically, emerging managers have tended to outperform larger established names – thereby making them an appealing alpha generator component to a portfolio – they often have less robust infrastructures. This is a risk for institutions.
As Daniele Spada (pictured), Head of Lyxor
- 12/12/2016
- 12/12/2016
Managed accounts are proving to be an effective tool for institutions to better control fee structures in hedge funds. What’s more, by building customised mandates using carve-outs of managers’ strategies, investors are able to enjoy a better investment experience that fits their individual risk appetite.
An article by CNBC on 17 October 2016 revealed that New York state had paid hedge fund managers USD1 billion in fees over the last eight years. The New York State Department of Financial Services said pension investments in hedge funds had been a giant failure, resulting in USD2.8 billion in underperformance.
This is exactly the
- 12/12/2016
Irish Funds, the representative body for the international cross-border investment funds industry in Ireland, has welcomed the Economic and Monetary Affairs Committee’s (ECON) approval of the final compromise text on the EU’s Money Market Fund Regulation (MMFR).
The Committee of Permanent Representatives of Member States to the EU (COREPER) also endorsed the text yesterday, signalling wider choice for investors.
As of the end of September 2016, assets under management in Irish MMFs totalled EUR444 billion. Over the course of the first nine months of the year, net sales generated by Irish MMFs amounted to EUR13 billion.
The agreement
- 12/12/2016
The appetite for cloud-based services in capital markets has reached a critical point and cloud is set to become the main delivery model for certain key functions in the near future, according to research from Celent.
The research, entitled The cloud comes of age in the capital markets, shows that attitudes towards cloud have softened in the last 12 to 18 months, with participants showing more acceptance of the security, stability and reliability of cloud-based deployments.
The research paper, sponsored by Colt, shows that cloud adoption is being driven by four key factors: increase in regulation (eg MiFID II,
- 12/12/2016
The EEX Exchange Council remains convinced that a split of the German-Austrian bidding zone, following recent announcements by the German Federal Network Agency and ACER, would be a step backwards for the market, as it would negatively affect liquidity in Europe’s power derivatives market.
The EEX Exchange Council remains convinced that a split of the German-Austrian bidding zone, following recent announcements by the German Federal Network Agency and ACER, would be a step backwards for the market, as it would negatively affect liquidity in Europe’s power derivatives market.
In addition, such a decision would go against the very idea
- 12/12/2016
Increasing interest from investors to allocate more capital into women owned and managed funds, coupled with public support from industry leaders, is spurring optimism for women in alternative investments, according to KPMG.
For its report, 2016 Global Women in Alternative Investments Report: The Time is Now: Real Change, Real Impact, Seize the Moment, KPMG surveyed and interviewed nearly 800 women professionals and industry leaders within the alternative investments sector, across hedge funds, private equity, venture capital and real estate in North America, UK, Europe, Asia Pacific and Latin America.
The majority of survey respondents believe North America offers
- 12/12/2016
4th Story has completed the general release of its customisable matching engine, 4S. Arches.
Fully FIX compliant, the engine is particularly suited for specialised products where generating and concentrating liquidity is a challenge such as OTC fixed income, derivatives, niche commodity and small cap equities markets.
It allows highly customisable order types and matching algorithms to suit the needs of a particular trading community. Orders with parameters that only become active in certain market conditions are easily implemented, for example, as is automated switching between matching algorithms.
The system was designed to accommodate complex trading rules from the
- 12/12/2016
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.08 per cent in November, underperforming the 0.87 per cent monthly return for the HFRX Global Hedge Fund Index.
The Wilshire Liquid Alternative Multi-Strategy Index, which includes both single and multi-manager funds, returned 0.15 per cent in November.
The Wilshire Liquid Alternative Equity Hedge Index, which includes long/short equity and market neutral funds, gained 1.82 per cent in November, outperforming the HFRX Equity Hedge Index by 35 basis points.
Long-biased equity managers detracted -1.69 per cent from Index
- 12/12/2016
Two of the six IndexIQ Hedge Indexes were positive in November, led by a rise of 0.97 per cent in the IQ Merger Arbitrage Index, as markets reacted strongly in the wake of the US presidential election.
The IQ Hedge Long/Short Index was up 0.74 per cent in the month, while the IQ Hedge Multi-Strategy Index fell 1.22 per cent and the IQ Hedge Market Neutral Index declined 0.53 per cent.
"The election of Donald Trump sent the markets off in new directions, and began to break down some of the asset class correlations we've seen in recent years. Bonds
- 12/12/2016
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