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The SS&C GlobeOp Forward Redemption Indicator for February 2016 measured 3.27 per cent, up from 2.31 per cent in January.
“SS&C GlobeOp’s Forward Redemption Indicator for February of 2016 was 3.27 per cent, an increase from 2.31 per cent for January of 2016,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “However, this increase was well within normal seasonal patterns. In fact, February’s 3.27 per cent was the second lowest reading of any month of February since SS&C GlobeOp began tracking forward redemptions in 2008. This February also marked the fifth consecutive month of year-over-year improvements in
- 22/02/2016
The top 10 US hedge funds were hit hard by US stock market performance in Q4, according to the latest quarterly Hedge Fund Tracker from S&P Global Market Intelligence. In total, the top funds managed USD159 billion in Q4, down USD44 billion from Q3.
The funds also decreased the total number of stock positions held from 441 to 427, the fewest stock positions held throughout 2015.
The worst performing sector of 2015 in the S&P 500 was also the most-bought sector by pure play hedge funds in Q4. The 10 largest funds bought USD1.5 billion in energy sector stocks during the
- 19/02/2016
Private equity managers are finding that increased demands for transparency from their LPs are requiring them to change their mindset, especially when it comes to sharing information on how assets are valued.
LPs are doing more due diligence, asking PE managers to explain why they value a target company at, say, 8X EBITDA, and a comparable non-target company at 10X EBITDA. In effect, LPs want to get more involved in the valuation process. This is the new normal that all alternative fund managers are waking up to, and in part, it is being driven by the onset of regulation.
As PE managers become more open with LPs, this is helping
- 19/02/2016
The Board of Directors of National Futures Association (NFA) has elected Michael C Dawley, Managing Director, Goldman Sachs & Co, to serve a one-year term as Chairman. The Board also elected Maureen C. Downs, President, Rosenthal Collins Group LLC, to serve as Vice-Chairman.
In addition, the Board elected the following individuals as public directors:
Andrea M Corcoran, Align International LLC;
Ronald H Filler, New York Law School;
Douglas E Harris, Promontory Financial Group LLC;
Jim Marshall;
Mary M McDonnell; McDonnell & Associates;
Michael H Moskow, The Chicago Council on Global Affairs;
Charles P Nastro;
Ronald S Oppenheimer, Vitol, Inc.;
- 19/02/2016
Hedge funds lost 2.83 per cent in January according to the Barclay Hedge Fund Index compiled by BarclayHedge – the worst start to a new year in eight years since the Index dropped 3.26 per cent in January 2008.
“Slowing fourth quarter growth in the US, heightening concerns about the Chinese economy, and a precipitous decline in energy prices all weighed heavily on investor sentiment," says Sol Waksman (pictured), founder and president of BarclayHedge.
Overall, 15 of Barclay’s 18 hedge fund indices had losses in January. The Healthcare and Biotechnology Index was hit the hardest, dropping 7.10 per cent in one month.
- 19/02/2016
Bedell Cristin has strengthened its corporate and banking team through a senior appointment in Guernsey, with Ann Halliday, an experienced lawyer in the offshore market and a qualified banker, joining the firm as a senior associate.
Halliday was most recently employed at a senior position at a large law firm in Guernsey and specialises in legal advice for the banking, funds and corporate sector. She entered the legal profession in 1995 and has worked both in-house and in general practice, focusing primarily on banking and corporate law. Prior to that, she had a career in financial services including a significant
- 19/02/2016
Modus Asset Management, a Hong Kong-based investment manager, has selected Wells Fargo Global Fund Services to provide daily fund administration and a comprehensive outsourced middle and back office operations solution.
“Wells Fargo Global Fund Services is well-known for its expertise in administering equity long-short strategies,” says Modus’ Chief Investment Officer Yeeman Chau. “In addition, the outsourced operations team is able to support the full range of back office activities in our portfolios throughout the trade lifecycle, which helps us scale the business in a controlled manner. We have developed a strong relationship with Wells Fargo this past year and we
- 19/02/2016
The London Metal Exchange (LME) has unveiled the newly built Ring (pictured), the Exchange’s open-outcry trading floor, followings its successful relocation to 10 Finsbury Square in London on 1 February 2016.
The Ring has provided a transparent and robust price-discovery process for the global metals industry for 139 years. Its move to a new building at Finsbury Square is the next step in the modernisation of the metals exchange, which was acquired by HKEX in 2012.
“We’ve demonstrated our commitment to the Ring, a long-standing and trusted price-formation venue, by moving it with us to this exciting new location.
- 19/02/2016
- 19/02/2016
Industry veteran Tom O’Mara (pictured) has joined the Advisory Board of electronic trading network AX Trading.
O’Mara brings a breadth and depth of experience and expertise to AX. He began his career trading Convertible Securities at Lehman Brothers from 1986-1991, where he was part of the team that transformed its retail-based distribution desk into an institutional market maker and underwriter.
In 1991, O’Mara joined Credit Suisse First Boston and was a pivotal team member in the rebuilding of First Boston's convertible franchise. As part of the successful Equity Derivatives and Convertible Securities Unit's management team, O’Mara’s responsibilities grew from
- 19/02/2016
SEI has appointed Brent Bell (pictured) as Head of Asset Management Distribution (AMD) in Asia. This appointment supports SEI's commitment to Asia and underscores ambitions to provide best-in-class solutions for Asia's investors.
In this role, Bell will be responsible for developing and maintaining strategic relationships with large distribution partners, driving sales and revenue growth, and managing AMD's strategic sales plan in Asia. He will be based out of SEI's Hong Kong offices and report to Kevin Barr, Head of SEI's Investment Management Unit.
"Brent's expertise in asset management and previous work building out businesses in Asia makes him the
- 18/02/2016
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