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Emerging Market hedge funds posted strong performance gains in October, driven by exposure to China and Russia, as risk tolerance and liquidity returned to emerging equity markets, with the HFRI Emerging Markets Index up +3.4 per cent.
That was the index’s first positive monthly performance since April, according to the latest HFR Emerging Markets Hedge Fund Industry Report.
Total hedge fund capital invested in emerging markets fell by over USD11 billion in 3Q, down from the mid-year record level, to USD187 billion (RMB 1.19 trillion, 12.2 trillion Russian Ruble, 716 billion Brazilian Real, 701 billion Saudi Riyal, 12.3 trillion
- 20/11/2015
The low quality rally in October, most notably during the first 10 days of the month, dented performance of the Saemor Europe Alpha Fund considerably, resulting in a loss of 3.5 per cent for the month.
While the long book contributed positively on the back of the overall market strength, it underperformed the underlying market because of a low risk bias. Most of the losses were generated in the Consumer Discretionary, Consumer Staples and Industrials sectors. Short positions in Fresnillo, CWC and BMW were unsuccessful. The biggest positive stock contribution came from the fund’s long position in Peugeot.
Style
- 20/11/2015
The top 10 hedge funds heavily sold-off their equity holdings in the third quarter of the year , according to the S&P Capital IQ Hedge Fund Tracker for Q3 2015.
In Q3, the top funds managed approximately USD191 billion in equity assets, down USD9 billion from Q2. This decline in equity holdings reflects the market drop that occurred over the third quarter and an aggregate decline in overall equity holdings. Top funds held a total of 441 different stock positions in Q3, down from 471 in Q2. Tech sector stocks led the sell-off, with eBay earning the distinction of most-sold stock among
- 20/11/2015
- 20/11/2015
Managed futures traders lost 0.78 per cent in October according to the Barclay CTA Index compiled by BarclayHedge. The Index is down 1.52 per cent year to date.
“A powerful rally in global equities coming on the heels of two consecutive down months found many trend-following CTAs on the wrong side of the market in October,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Six of Barclay’s eight CTA indices lost ground in October. The Diversified Traders Index was down 1.50 per cent, Systematic Traders lost 1.17 per cent, Agricultural Traders were down 0.55 per cent, and Financial/Metals
- 20/11/2015
Interactive Data, a provider of low-latency technology and market data feed services, and GlobalRisk, a developer of risk management software, have collaborated to deliver trading risk analysis and financial data to the US Commodity Futures Trading Commission (CFTC).
CFTC, the principal regulator in the US for futures and options, issued a contract to obtain the additional tools to help assess and monitor the risk exposures for derivatives transactions in real time.
The agreement aligns with industry-wide initiatives directed at improving risk management analysis and standardisation for OTC derivatives globally.
GlobalRisk’s FirmRisk offering captures real-time or delayed equities, futures
- 20/11/2015
Swiss Hill Advisors, a specialist in the placement of hedge funds and alternative investment offerings to institutional investors, has been established by industry marketing and investor relations veteran Richard T Lieberman.
“Swiss Hill will focus on providing consulting and placement services to the next generation of hedge fund managers and take into account the needs of both managers and institutional investors. The goal is to match the investors’ needs with high quality institutional managers,” says Lieberman. “The next generation of managers and those with illiquid and niche strategies are becoming more popular as investors look for true alpha but the
- 20/11/2015
Many investors choose to disregard potential investment in an infrastructure fund due to terms and conditions. Utilising information from the 2015 Preqin Private Equity Fund Terms Advisor and the Preqin Investor Outlook: Alternative Assets, H2 2015, this extract from this month’s Preqin Infrastructure Spotlight examines the fund terms and conditions of unlisted infrastructure funds and their effect on the alignment of interests between investors and fund managers.
In Q3 2015, Preqin conducted a series of detailed interviews with active institutional investors in infrastructure in order to gain insight into their attitudes towards the asset class. The study revealed that
- 19/11/2015
Markets experienced a healthy rebound in October, following a period of heightened market volatility in August and September.
- 19/11/2015
Preqin’s latest factsheet takes a detailed look at closed-end private real estate fundraising for emerging managers in the US.
Fundraising
Preqin’s Real Estate Online contains detailed information on 529 private real estate funds managed by US-based emerging managers*, which have secured a total of USD104 billion since 2007. Fundraising by US-based emerging private real estate managers has not emulated its pre-crisis peak in 2007 of 80 funds reaching a final close on USD17.3 billion in capital commitments (Fig 1). The downturn led to year-on-year declines in aggregate capital raised before recovering in 2011, when USD14 billion was raised by 70
- 19/11/2015
The Singapore Exchange (SGX) is to launch SGX-listed FX block futures on EBS BrokerTec’s FX central limit order book (CLOB), EBS Market, a primary venue for e-traded currencies.
The strategic collaboration between EBS BrokerTec and SGX announced in January 2015 will bridge the FX over-the-counter (OTC) and futures markets. This new agreement will enable market participants to seamlessly access an enhanced liquidity pool for trading Asian Spot, NDF and Futures instruments via the EBS Market.
The listed FX block futures will be available on EBS Market in early Q2 2016 pending regulatory approval. Trades will be cleared through SGX’s
- 19/11/2015
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