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Paul-Georges Moucan, Portfolio Manager at hedge fund Quadra Capital Partners, comments on China’s September activity data…
China’s September activity data was largely in line with market expectations but in our view showed tentative signs of momentum losing steam. Low global Chinese demand was a drag but domestic demand was resilient and the fact that the rise in investment was led by property, may raise some concerns. Credit growth was above expectations but remains well below target.
Q3’s resilient growth appears to have been underpinned by post-flood reconstruction, the overheated property market and fading base effects from last year’s stock market
- 21/10/2016
Chi-X Australia is on target to commence exclusive trading of Transferable Custody Receipts (TraCRs) on its investment products marketplace in early February 2017.
TraCRS (pronounced tray-sirs) are based on an underlying asset that is a member of the primary index of a specified offshore market, which will initially include the main US exchanges NYSE and Nasdaq.
Australian investors will be able to trade on an Australian exchange to invest in the top US stocks.
John Fildes (pictured), CEO of Chi-X Australia, says: “TraCRs will be a game changer for Australian investors as for the first time they will
- 21/10/2016
- 21/10/2016
Pacific Fund Systems (PFS), the software company behind fund administration solution PFS-PAXUS, has opened its European operational headquarters in Douglas, Isle of Man.
PFS’s chief operating officer Paul Kneen (pictured) says: “PFS is a global software development company providing a powerful niche investment accounting and fund administration solution to a global client base, which has grown successfully year-on-year since the firm’s inception in 1999. The decision to locate our European operational headquarters on the Isle of Man was based on the clear benefits available; access to attractive modern office space and a talent pool of skilled industry professionals, supported by
- 21/10/2016
- 21/10/2016
Hedge funds gained 0.81 per cent in September, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
Year to date, the index is up 4.26 per cent.
All but one of Barclay’s 17 hedge fund indices gained ground in September. The Healthcare and Biotechnology Index was up 5.39 per cent, its largest one-month gain since January of 2014.
“Although surprises from major central banks whipsawed financial markets, most hedge fund strategies found a path to profitability in September,” says Sol Waksman (pictured), founder and president of BarclayHedge.
The Technology Index gained 1.86 per cent, Distressed Securities
- 21/10/2016
The SS&C GlobeOp Forward Redemption Indicator for October 2016 measured 3.40 per cent, down from 4.22 per cent in September.
"SS&C GlobeOp's Forward Redemption Indicator for October of 2016 was 3.40 per cent, an increase of 44 basis points from the 2.96 per cent reported a year ago for October of 2015," says Bill Stone, chairman and chief executive officer, SS&C Technologies.
"Nearly all of the increase in the Forward Redemption Indicator for October consisted of redemptions targeted around year-end, suggesting the increase is due to rebalancing activity. We will be watching our Capital Movement Index closely over the
- 21/10/2016
Natixis Global Asset Management has strengthened its European SICAV range with the launch of a managed futures fund from one of its affiliates focused on alternatives, AlphaSimplex Group.
AlphaSimplex’s Managed Futures Fund will invest in futures and forward contracts across a broad range of markets including equities, fixed income and currencies and aims to profit from current trends in the markets, taking long positions in assets in a rising price trend and short positions in those that are in a falling price trend. The fund also has indirect exposure to commodity markets.
The new fund will be quantitatively driven
- 21/10/2016
HFR reports that total hedge fund industry capital rose to a record level in 3Q16, as performance gains offset continued asset outflows which were concentrated in many of the industry’s largest and most well-established managers.
Hedge fund assets rose to USD2.972 trillion, an increase of USD73.5 billion from the prior quarter. The 3Q16 hedge fund asset level eclipses the previous record of USD2.969 trillion set in 2Q15. The HFRI Fund Weighted Composite Index gained +2.9 per cent in 3Q, concluding the quarter with its seventh consecutive monthly gain, and bringing YTD performance to +4.2 per cent.
HFR reports that
- 20/10/2016
Preqin’s latest hedge fund report finds that although hedge funds are under sustained investor scrutiny, the third quarter of 2016 saw continued improvement in the performance of the asset class, marking seven consecutive months of positive returns for the industry.
The firm writes that this is the longest stretch of positive monthly returns since the second half of 2012. Fees and performance remain at the top of the list of investors’ concerns for the industry in 2016 according to Preqin Investor Outlook: Alternative Assets, H2 2016, yet this solid run of positive returns may assuage some of these concerns.
Preqin says
- 20/10/2016
Caledonia (Private) Investments, an independent global long/short equity investment manager, has appointed David Scully, former partner and chief marketing officer of Coatue Management, as vice chairman, US.
In this new role, he will be based in New York and will serve as an advisor on business strategy, as well as oversee the creation of a business development and client service team to serve the firm’s institutional investors.
Michael Messara, senior portfolio manager, will become co-chief investment officer with Will Vicars, who has led the investment team for the past five years and spearheaded the firm’s long/short strategy since its
- 20/10/2016
- 20/10/2016
The Warsaw Stock Exchange (GPW) has opened consultations on plans to introduce new sector classifications of listed companies.
The existing separate models of sector classification on the regulated and alternative markets will be replaced by a three-tier classification of shares and bonds issuers.
The modification of the company sector classification aims to lead to better mapping of the companies’ business segments and identification of new, previously omitted sectors such as consumer goods, electronic games and biotechnology. The modified sector classifications will be accompanied by changes to sector indices. The new key sector indices will track the share price of
- 20/10/2016
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