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Newly launched hedge funds continued to entice investors with management fee discounts while simultaneously tightening restrictions on redemptions, according to The Seward & Kissel 2015 New Hedge Fund Study. The 2015 findings reflect a give-and-take between hedge funds and investors. On the one hand, they show the continuation of a trend in which hedge funds are willing to incentivise investors to join their founders classes, offering discounted fees, and sometimes tiered management fees that step down as fund assets grow. On the other hand, hedge funds further tightened their redemption rules.   In 2015, 35 per cent of funds using equity-based
February average daily volume (ADV) at the CBOE Futures Exchange was up 23 per cent from February 2015, but down 25 per cent from January 2016. Exchange-wide total volume also rose in February compared with a year ago, up 29 per cent compared with February 2015, but down 21 per cent from January 2016. Total February volume in futures on the CBOE Volatility Index (VIX Index) was 4.1 million contracts, up 29 per cent from February 2015, but down 21 per cent from January 2016. February VIX futures' ADV was 204,609 contracts, up 23 per cent from a year ago and
NewAlpha AM, a French global emerging manager acceleration specialist, has appointed Driss Lamrani (pictured) as Global Strategist, based in Paris. Lamrani has close to fifteen years of professional experience in the financial sector. Formerly as advisor and deputy to GLG Partners Chief Investment Strategist, Driss forecasted monetary policy, political and geopolitical events and designed investment portfolios for their Global Macro and Emerging Markets Funds. A practiced speaker and respected strategist, Driss Lamrani has been a regular guest speaker at prestigious public and private conferences, working alongside current and former central bankers and politicians to build investment scenarios and forecasts. Driss
Looking Glass Investments (LGI), a fixed-income alternative investment firm focused on marketplace lending, has opened a research office in Brunswick, Maine. Nathan Tefft (pictured), PhD, an economics professor and LGI's Executive Vice President and Chief Economist, leads the new office.   "The founding members of Looking Glass Investments believed from the outset that research would drive our business. With the support of our new Advisory Committee, we are experiencing tremendous growth, and now is the ideal time to open what I believe to be the first-ever research lab for marketplace lending predictive analytics," says Matthew O'Malley, President and Chief Operating
The Russell Group, at Louisville-based wealth management firm Atlas Brown, has recently joined Private Client Services’ (PCS) broker/dealer platform. Founding member of The Russell Group, David Russell (pictured), has been a prominent advisor in the Louisville area for over 30 years. “We are excited to enhance our local presence by registering with PCS. Not only will this new relationship provide value to our current clients, but will better position us to continue to grow in the area,” Russell says.   “There are so many advantages for an advisory practice to be registered with a local Broker Dealer,” says Ernest Sampson,
Intercontinental Exchange is to acquire Standard & Poor’s Securities Evaluations, Inc. (SPSE), a provider of fixed income evaluated pricing, and Credit Market Analysis (CMA), a provider of independent data for the over-the-counter (OTC) markets from McGraw Hill Financial (MHFI). When completed, the acquisition will enable ICE to offer customers new data and valuation services. Under the terms of the agreement, ICE can elect to satisfy its payment of the purchase price due at the close of the transaction in either cash or shares of ICE’s common stock. All other terms of the agreement were not disclosed. The transaction is subject
The support, maintenance and continued development of SIX x-clear’s Clara clearing system has been taken on by Baymarkets. Since 2010 SIX x-clear’s Clara has been used as the platform for central counterparty clearing on trades in equities, equity certificates, derivatives, SLB contracts and ETFs for their Nordic customer base. SIX x-clear will continue to use Clara and will further expand the use of the platform for clearing of additional Exchanges and MTFs for the benefit of our customer base.    Under the new arrangement, in addition to providing support and maintenance, Baymarkets will co-market Clara with SIX x-clear to deliver
Only one of Market Vectors Index Solutions (MVIS) family of six investable Long/Short Equity Indices recorded positive performance in February. The Market Vectors Emerging Markets Long/Short Equity Index as up 0.36 per cent for the month whilethe other five indices all ended in negative territory.   The Market Vectors Asia (Developed) Long/Short Equity Index was the month’s biggest loser with a return of 01.57 per cent, followed by the Market Vectors Global Long/Short Equity Index (-1.07 per cent), the Market Vectors Western Europe Long/Short Equity Index (-1.02 per cent), the Market Vectors Global Event Long/Short Equity Index (-0.25%) and the
The Chicago Board Options Exchange (CBOE) plans to offer FLEX index options with Asian and Cliquet style settlement beginning Monday, 21 March.  FLexible EXchange (FLEX) options, created by CBOE in 1993, are customisable options that allow users to define various contract terms such as exercise style, strike price and expiration date. FLEX options also give investors the opportunity to trade on a larger scale with expanded or eliminated position limits.   Insurance companies that write indexed annuity contracts often have exotic option liabilities embedded within those annuity contracts. Two common types of exotic options are Asians and Cliquets. Insurance companies
The NZ Super Fund has appointed a subsidiary of Ramius, the global investment management business of Cowen Group to manage a USD200 million merger arbitrage mandate focused on M&A transaction in listed companies in North America and Europe. This is the NZ Super Fund’s first investment in merger arbitrage, a strategy which aims to earn steady returns over the long-term by realising value from targeted merger and acquisition deals across a broad cross section of industries, and managing any risks, including the potential for any individual deal failure.   NZ Super Fund Chief Investment Officer Matt Whineray says merger arbitrage

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