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The Castlewood Select Opportunity Fund posted a 1.6 per cent return net of fees and expenses in the third quarter. According to Mark Wittenstein, managing partner of the Castlewood Select Funds, this puts Castlewood up 8.9 per cent year-to-date and caps a 12-month return of 28.8 per cent for the macro fund.   “We are extremely pleased with the fund’s performance to-date, particularly in view of our shift to reduce portfolio risk,” says Wittenstein, who expects some market turbulence heading into Q4.   “October is often an interesting period, marked by spikes in volatility. This year we have the added
Five of IndexIQ’s six IQ Hedge indices were positive in September, led by the IQ Merger Arbitrage Index, up 1.18 per cent, and the IQ Hedge Global Macro Index, which climbed 0.86 per cent. IQ Hedge Market Neutral posted the lone negative return, declining 0.15 per cent for the month.   "With traders returning from summer vacations, volatility picked up, too, as markets confronted a range of economic data and the unfolding US election," says Adam Patti (pictured), chief executive officer at IndexIQ. "We expect this to continue at least until after the election, and more likely to the end
ZEDRA has expanded its senior management team in Jersey with the promotion of Lucia Perchard (pictured) to client director. ZEDRA says the promotion recognises Perchard’s achievements and expertise, and reflects the business’ dedication to provide client-facing directors.   In her new role, Perchard will continue to manage a wide variety of client relationships and complex structures. She is responsible for an extensive client portfolio of high net worth clients, predominately residing within the Middle East.   Prior to her promotion, Perchard held the position of associate director. She has over 18 years’ experience in the Trust industry and has held
GreenKey, a creator of a voice workspace platform for global financial market participants, is to launch a mobile application for iOS and Android devices.  The new app will offer full integration with GreenKey's patented software and Voice over Internet Protocol (VoIP) network along with existing turrets (lines and hardware).   Secure turret functionality will be available through the mobile app, including intercom connections with push-to-talk functionality. In addition the app will include the ability to place outbound or accept incoming calls with full recording capability and transcription.   GreenKey chief product officer Anthony Tassone (pictured) says: "We're thrilled to launch
The average hedge fund industry performance was +0.73 per cent in September, marking eight months of positive aggregate industry returns for the industry. That’s according eVestment’s September 2016 Hedge Fund Performance Report.   Overall Q3 performance came in at +2.91 per cent in Q3 and year-to-date hedge fund returns stand at +4.40 per cent.   Among strategies, origination and financing funds (+1.65 per cent), activist funds (+1.29 per cent), distressed funds and long/short equity funds (both at +1.05 per cent) turned in the strongest performances in September. Activist funds won the quarter at +4.87 per cent and distressed funds won
GLAS, an independent provider of finance administration services, has appointed Joe Knight to spearhead the expansion of the firm’s direct lending platform.  Knight will have responsibility for business development and developing strategic relationships with GLAS’ existing direct lending client base.   The move comes as funds increasingly replace banks in the lower to middle market transactions, leading to an uptick in demand for independent agent and trustee services.   Knight is an experienced loan professional with over 15 years’ experience in the syndicated loan market. Before joining GLAS, he was managing the London office of AgenSynd. Prior to joining the
Pioneer Investments has launched a global inflation-linked short-term strategy as an approach to managing against inflation risk. The firm says the strategy aims to protect investors’ purchasing power and returns against inflation through the use of low duration global inflation-linked bonds.   The use of 1-5 years inflation-linked government bonds helps the strategy to be correlated with realised inflation in a low rates environment, as opposed to expected inflation.   “Often, the discussion about inflation risk only starts after it is already a problem and inflation hedges are expensive,” says Cosimo Marasciulo (pictured), head of European government bonds. “Current market
The University of Oxford has appointed Mihaela van der Schaar to the Man Professorship of Quantitative Finance, which is funded in perpetuity by a charitable gift of GBP3.3 million made in 2007 by the Charitable Trust of Man Group. Van der Schaar (pictured) will be based at the Oxford-Man Institute (OMI), a centre for research into machine learning and data analytics applied to quantitative finance.   The OMI, which opened in 2007, is a collaboration between the University of Oxford and Man Group and shares premises with Man Group’s Oxford research laboratory.   The OMI has recently joined the University
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.11 per cent in September, down on the HFRX Global Hedge Fund Index’s 0.55 per cent return. The Wilshire Liquid Alternative Multi-Strategy Index, which includes both single and multi-manager funds, returned 0.13 per cent in September.   The Wilshire Liquid Alternative Index family is a joint offering between Wilshire Funds Management, the global investment management business unit of Wilshire Associates Incorporated, and Wilshire Analytics, creator of the Wilshire 5000 Total Market Index.    The Wilshire Liquid Alternative Equity Hedge Index,
The European Securities and Markets Authority (ESMA) is to focus on supervisory convergence issues next year, according to its 2017 Work Programme. The programme sets out ESMA’s future priorities and areas of focus in support of its mission to enhance investor protection and promote stable and orderly financial markets.   The programme reflects the shift in focus of ESMA’s work from building the single rulebook towards ensuring its consistent application across the European Union, as outlined in its 2016-2020 Strategic Orientation.   The key areas of focus under ESMA’s activities of supervisory convergence, assessing risks, single rulebook and direct supervision

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