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The Lyxor Hedge Fund Index was down 0.9 per cent in June, with three out of 10 Lyxor indices ending the month with a positive performance.
Low directional strategies fared better.
CTAs, with their defensive positioning, thrived on most of their positions. They once again confirmed their hedging benefit.
Merger arbitrage funds were reasonably isolated from the Brexit shockwave, benefiting from several deal completions.
“Brexit is likely to keep elevated assets volatility and result in greater differentiation across European markets. This should be generally beneficial for Hedge funds, for relative value and nimble styles in particular. Meanwhile,
- 15/07/2016
American Beacon Advisors, a provider of investment advisory services to institutional and retail markets, has completed an investment of a minority interest in ARK Investment Management, a New York based federally registered investment adviser that offers registered and unregistered investment products, including a suite of exchange-traded funds (ETFs) focused on disruptive innovation.
While terms of the deal are undisclosed, this partnership will not impact ARK’s investment process or its other business initiatives.
“The thematic investment process and manager expertise of Catherine Wood and her team at ARK represent the institutional quality and enduring value we strive to bring to
- 15/07/2016
Tremblant Capital Group, a global asset management firm specialising in long/short and long-only equity investing, has appointed Daniel Watersas a partner and co-president.
In this newly created role, Waters will join both the management and investment/risk committees, and will directly oversee Tremblant's client activities.
"I have known Dan both personally and professionally for over 10 years, and we are excited to add his wealth of investment management expertise to the Tremblant team. Dan's extensive experience will enhance our world-class firm and enable us to build upon our strong fifteen-year track record of investment performance and our success in partnering with
- 15/07/2016
Preston Hollow Capital has hired Travis Shull (pictured) as senior underwriter and Brian Fuller as senior asset manager.
“High calibre hires in these roles are essential to our continued growth and success,” says Jim Thompson, chairman and CEO of Preston Hollow Capital. “We’re always excited to bring highly talented professionals like Travis and Brian on board as we expand PHC’s municipal finance platform.”
Shull’s corporate responsibilities at PHC include evaluation, analysis and underwriting of the real property components of the firm’s investments.
Prior to joining PHC, Shull spent 26 years with GE Capital Real Estate, most recently as territory
- 15/07/2016
OptionMetrics, a provider of historical option price data, tools and analytics, has bolstered its global technology, development and operations team with the addition of veteran systems engineers, software engineers and quality assurance specialists.
The new hires are a direct response to three consecutive record quarters of overall revenue growth (Q4 2015, Q1 2016 and Q2 2016), and new sales growth of 40 per cent over the comparable quarters in 2014 and 2015.
The new team members come to OptionMetrics with decades of experience at top financial firms including American Express, Barclays, and Bank of America. They are based at
- 15/07/2016
The law introducing a new Luxembourg alternative fund structure, the Reserved Alternative Investment Fund (RAIF), has been approved by the Luxembourg Parliament and will come into force three days after publication in Luxembourg’s Official Gazette Mémorial.
Denise Voss (pictured), chairman of the Association of the Luxembourg Fund Industry, says: “The Luxembourg RAIF Law provides an additional – complementary – alternative investment fund vehicle which is similar to the Luxembourg SIF regime. Unlike the SIF, the RAIF does not require approval of the Luxembourg regulator, the CSSF, but is supervised via its alternative investment fund manager (AIFM), which must submit
- 15/07/2016
AltX, the San Francisco based hedge fund intelligence platform, has launched AltX Estimates, providing clients with return data on more than 17,000 funds, including performance data on over 80 per cent of the ‘Billion Dollar Club’ funds.
AltX Estimates delivers performance estimates for funds, even those that have not publicly shared their returns. The proprietary model leverages information from regulatory filings combined with other data and techniques proprietary to AltX.
The process does not use 13F data as an input. Examples of fund managers in the data set include DE Shaw, Farallon, Taconic, Eton Park, Viking, and hundreds of
- 15/07/2016
The London Metal Exchange (LME) is initiating a market-wide consultation proposing to control escalating warehousing costs by imposing caps on maximum charges.
If enacted, the first capped charges would come into effect on 1 April 2017.
“The metals industry has expressed concerns over the headline rates charged by LME-registered warehouse operators. After conducting an extensive discussion process, the LME believes that a fair and straightforward approach to this very complex issue would be to cap these maximum rates and to impose a medium-term freeze on increases,” says Matthew Chamberlain, head of business development.
The LME proposes to set
- 15/07/2016
- 15/07/2016
Advisers consider alternative investments key to growing their high-net-worth (HNW) business, but a lack of access to quality products stands in the way of larger allocations to the asset class, according to a financial adviser survey commissioned by Artivest.
The majority of financial advisers surveyed (54 per cent) believe that offering alternatives is important to retaining and attracting HNW investors, yet lack of access to quality funds was the number one reason (26 per cent) why advisers believe their adoption of alternatives is lower than that of institutions.
Advisers also cited higher retail client fees (22 per cent), the
- 15/07/2016
MainstreamBPO has opened a New York office for its hedge fund administration business.
The new office is the group’s first in the Northern Hemisphere, adding to the existing network of offices in Australia, Singapore, and Hong Kong.
MainstreamBPO chairman and managing director Byram Johnston (pictured), who will oversee the new operations, says a North American presence is the next phase in the group’s execution of its client growth strategy.
“After the success of our offices in Asia we have been evaluating international markets to further expand our hedge fund administration business. Opening an office in New York is
- 14/07/2016
- 14/07/2016
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