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Hedge fund data provider HFR reports that hedge funds advanced in November, as the surprising victory of Donald Trump in the US Presidential election drove expectations for renewed growth, infrastructure spending and reduced regulation.
The HFRI Fund Weighted Composite Index (FWC) Index gained +0.9 per cent in the month, with the Index Value rising to 12,841.95, the highest level since May 2015 and second highest since inception (1990).
The November advance reverses the decline from the prior month, represents the eighth monthly gain in the past nine months, and brings YTD performance to +4.6 per cent, topping global equities. The
- 08/12/2016
Vanguard and Charles Schwab are set to exert greater influence as prime money fund investors after significant market share gains following the introduction of money market fund reforms, says Fitch Ratings.
The two fund managers are likely to have greater say on market access and issuer terms among prime money fund managers, although the balance of power in the short-term markets overall has shifted away from prime money funds.
As of end-October, Vanguard and Charles Schwab controlled 31 per cent and 16 per cent of prime money fund assets respectively, up from 11 per cent and 5 per cent
- 08/12/2016
RBC Global Asset Management (RBC GAM) has appointed four new hires to the firm’s advisory solutions group.
They are Edward Bernson and Charleen Sheehan as associate directors of advisory solutions, David D Smith as director of advisory solutions and Alexandra Zhmakina as junior associate director of advisory solutions.
"At RBC Global Asset Management, we are committed to building out our multi-channel distribution capabilities to complement our expanding investment capabilities," says Matthew Appelstein (pictured), head of distribution for RBC GAM. "Today's announcement is the latest demonstration of how we're growing our footprint in the professional buyer marketplace across the US.
- 08/12/2016
Irish independent investment management service provider Crossroads Capital Management (CCM) has licensed AlphaDesk, the cloud-based software provider to hedge funds and other investment managers.
In partnership with AlphaDesk, CCM enables both discretionary and non-discretionary investment managers to access a fully integrated portfolio management and order management system for trading, compliance monitoring and portfolio risk reporting.
With increased regulation in Europe, the market for investment management platform solutions has expanded rapidly in recent years, particularly with AIFMD.
Donnacha Loughrey (pictured), managing director for Crossroads Capital Management, says: "We are delighted to partner with a leading technology provider such as
- 08/12/2016
The election of Donald Trump has injected a new element of uncertainty into a US swaps market that was finally finding its footing under its new regulatory framework.
A report from Greenwich Associates finds improved market quality in US interest-rate derivatives trading six years after the Dodd-Frank Act took effect.
Conversations with market participants reveal that spreads are generally getting tighter, down 5 per cent year over year, and RFQ response times are getting faster, driven in part by the growth of non-bank liquidity provision.
“This is the kind of competition that regulators have been hoping the market
- 08/12/2016
Venezuela will continue repaying its debt normally in 2017 as it has done since 2014, repaying USD32.4 billion of capital, according to hedge funds Adar Capital Partners.
In the event that Venezuela should have no access to international markets in 2017, it would only need to pay off USD6.6 billion – not so great given Venezuela's size and potential.
Diego Marynberg, portfolio manager at Adar Capital, says: “Since the beginning of the second half of 2014, when the price of oil began shooting down from over USD100 per WTI barrel to its minimum of USD26 in March this year
- 08/12/2016
StepStone Group has closed the acquisition of Swiss Capital Alternative Investments, a European private debt and hedge fund solutions provider.
The transaction was originally announced in May 2016, and has been in the process of receiving regulatory approvals since then.
As part of the transaction, StepStone has launched StepStone Private Debt and StepStone Hedge Funds, which combines the firm’s existing global private markets capabilities and institutional client network with Swiss Capital’s expertise in the private debt and hedge fund strategies. The enhanced platform aims to deliver superior risk-adjusted returns through highly customised portfolios.
Monte Brem (pictured), chief executive
- 07/12/2016
- 07/12/2016
Calamos Investments has appointed co-chief investment officer and head of fixed income strategies R Matthew Freund as co-portfolio manager on a variety of the firm’s investment products.
Freund (pictured) brings more than 25 years of investment management experience and most recently served as chief investment officer at USAA Investments, where he oversaw more than USD140 billion in assets and led the teams responsible for the portfolio management of USAA's mutual funds and affiliated portfolios, including P&C and life insurance products.
John Koudounis, chief executive officer, says: "Matt brings extensive expertise to a wide range of our existing portfolios
- 07/12/2016
The Alternative Investment Management Association (AIMA) has published a guide for fund managers wishing to establish a managed account, a popular form of investing in hedge funds that gives greater control over the management of the account to the investor.
AIMA’s Managed Account Guide aims to provide fund managers with a better understanding of what to expect when offering managed accounts and what some of the operational and regulatory challenges are.
Its publication comes amid continued investor demand for managed accounts, which offer greater transparency and give investors a bigger say over everything from the investment strategy to
- 07/12/2016
- 07/12/2016
Fortunes for CTA strategies were mixed in November, according to the latest data for the SG CTA indices released by Societe Generale Prime Services.
The SG Short Term Traders Index was the only index to post positive performance in November returning 0.43 per cent for the month. SIx out of the 10 constituent CTAs contributed positive returns. The SG STTI is still the best performing CTA index for the year however, it remains in negative territory at -1.15 per cent YTD.
The SG CTA Index posted a negative return of -1.83 per cent and was down overall -3.38 per
- 07/12/2016
- 07/12/2016
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