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The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.36 per cent in June, outperforming the HFRX Global Hedge Fund Index’s 0.20 per cent return by 16 basis points.
The Wilshire Liquid Alternative Multi-Strategy Index, which includes both single and multi-manager funds, ended the month on a positive note, returning 0.34 per cent in June.
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
- 13/07/2016
The open-end structure of most investment vehicles discourages asset-managers from trading against mispricing – to the detriment of investors and market efficiency, Oxford University research has shown.
“The findings from my study, co-authored with Professor Mariassunta Giannetti from the Stockholm School of Economics, raise the question of why so many financial institutions are open-ended, when the structure actually incentivises against arbitrage,” says associate professor of finance Bige Kahraman (pictured), Saïd Business School, University of Oxford. “An open-end structure, in which investors can react to perceived under-performance by withdrawing capital, leads to short-termism and a persistent over- or under-valuing of assets.”
- 13/07/2016
Pacific Fund Systems (PFS), a provider of fund accounting and transfer agency administration software via its PFS-PAXUS application, has made two senior appointments to its European-based executive team.
Kelly Ashe, who has joined the team as the sales and marketing manager for the group, is based in PFS’s new European operational headquarters on the Isle of Man and brings with her a wealth of core fund industry knowledge and experience of software sales, vendor marketing and business development.
Ashe will report to Paul Kneen, chief operating officer, and will be responsible for facilitating and enabling the efficient and successful
- 13/07/2016
Despite the majority of institutional investors redeeming from hedge funds during the first half of this year, most continue to view hedge funds as playing a key role in their investment portfolios, according to the Credit Suisse Mid-Year Investor Sentiment Survey.
Some 73 per cent of respondents, institutional investors on a global basis including fund of funds, family offices, consultants, endowments and foundations, private banks and pension funds representing almost USD700 billion in hedge fund investments, say they will likely make additional hedge fund allocations during the second half of 2016.
Redemptions appear to have been highly targeted as
- 13/07/2016
Boutique asset manager Unigestion has moved its London-based staff into new London headquarters in Stratford Place, W1.
Since the beginning of 2016, Unigestion’s London team has increased from 25 to 40 people as the UK has become Unigestion’s largest non-domestic market.
All four investment lines (equities, multi-asset, alternatives and private equity) are fully represented in London with investment, sales and back office teams to serve UK clients. Unigestion’s range of UK clients includes Railpen, the Merseyside Pension Fund and the London Borough of Hammersmith and Fulham.
Fiona Frick (pictured), chief executive officer of Unigestion, says: “The expansion of
- 12/07/2016
The US Commodity Futures Trading Commission (CFTC) has issued an order filing and settling charges against Agrocorp International Pte Ltd, a commodities trading and distribution company headquartered in Singapore, for failing to file CFTC Form 304 Reports reporting its call cotton purchases and sales when it held or controlled at least 100 cotton futures positions.
The order requires Agrocorp to pay a USD150,000 civil monetary penalty and prohibits it from committing future violations of CFTC Regulation 19.02.
The order also states that Agrocorp will undertake to adopt and maintain internal controls that are reasonably designed to ensure that the
- 12/07/2016
The Chicago Board Options Exchange (CBOE) plans to list S&P 500 Index (SPX) Monday-expiring Weeklys options, beginning 15 August 2016, pending regulatory approval.
With the expected introduction of SPX "Monday Weeklys," CBOE will now offer SPX options with Monday, Wednesday and Friday weekly expirations.
CBOE's new SPX Monday Weeklys options will generally have the same characteristics as CBOE's Wednesday- and Friday-expiring SPX Weeklys options, with the exception of their listing and expiration dates.
The initial expirations for the new Monday Weeklys are planned for 22 August and 29 August. Going forward, new expirations for the Monday Weeklys will typically
- 12/07/2016
Sprott Asset Management, a USD10 billion Toronto-based alternative asset manager, has rolled out a second iteration of the firm’s private credit trust strategy, Sprott Private Credit Trust II, with hedge fund specialist Arif N Bhalwani.
Bhalwani is the chief executive officer and managing director of Third Eye Capital Management, a sub-adviser to Sprott Asset Management.
Sprott Private Credit Trust II focuses on identifying short-term opportunities primarily in North American companies that are otherwise unable to access financing.
The strategy of the fund is to invest in underlying funds that hold an actively managed portfolio of asset-based loans that will be focused on private and public companies, primarily in Canada and the US, that are otherwise unable to
- 12/07/2016
- 12/07/2016
State Street Corporation has agreed to participate in a pilot programme to test DTCC-Euroclear GlobalCollateral’s Margin Settlement Messaging Service.
Powered by Margin Transit Utility (MTU) technology, GlobalCollateral’s Margin Settlement Messaging Service has been developed to provide straight-through-processing for the settlement of margin obligations.
By participating in the pilot programme, State Street aims to further streamline its margin call processes, increase transparency through automated collateral settlement tracking, enhance client service, and improve custodian communications. State Street will initially pilot the MTU functionality with select client portfolios to evaluate how the technology could be leveraged more broadly.
As the industry
- 12/07/2016
Martin Jonsson and Anders Wennberg have been recruited as new senior managers for the team at the Catella Hedgefond fund.
“We are pleased and proud to be able to announce Martin Jonsson and Anders Wennberg as new senior fund managers at Catella,” says Erik Kjellgren, head of the Swedish fund operations. “Catella has very high ambitions for its fund management and, with their solid background from one of the market’s most high-profile hedge funds, these individuals will be an excellent complement to the existing Catella Hedgefond team.
“This recruitment therefore complements and completes the overall equities team for Catella
- 12/07/2016
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