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By Donald A.Steinbrugge, CFA, Managing Partner, Agecroft Partners – Commodity trading advisors’ (CTAs) perception among investors is more divergent than any other major hedge fund strategy. A large percentage of investors view the strategy as smoke and mirrors using black box models that they cannot understand or properly evaluate.
Other investors view CTAs as one of the purest hedge fund strategies that is uncorrelated to long only equity and fixed income indices, as well as other hedge fund strategies; thus providing valuable diversification benefits. Advocates of CTAs have helped propel the strategy to a 12% market share of the hedge
- 02/06/2015
When CBOE introduced the CBOE Volatility Index® (VIX) in 1993 it quickly became the world's barometer for market volatility. Since volatility often signifies financial turmoil, VIX is often referred to as the "investor fear gauge."
More than that, VIX is a risk powertool – giving investors the ability to leverage volatility via options and futures traded exclusively on CBOE and CBOE Futures Exchange (CFE®). Here's how:
The VIX is a benchmark indicator that measures market expectation of near-term volatility conveyed by stock index option prices
The VIX is based on real-time prices of options on the S&P 500® Index and is designed
- 02/06/2015
Just 20 years ago, exchange-traded funds (ETFs) were novelties. Now, after two decades of explosive growth, they are firmly entrenched in the asset management landscape. Total US-listed ETF assets reached a record-setting USD2.0 trillion at the end of 2014, up from USD1.7 trillion a year earlier, and inflows totaled USD244 billion for the year. European ETFs also saw record flows in 2014; they attracted USD61.4 billion in new assets, more than three times the 2013 total.
It’s certainly true that even in the US, ETFs are a long way from eclipsing open-end mutual funds, which have about $14 trillion in
- 02/06/2015
- 02/06/2015
Trevor Chisholm, Director of Alternative Investments at Intralinks has appeared in a new video on Asset TV. The interview discusses how managers can achieve transparency whilst still maintaining control.
This is becoming something of a juggling act for managers as they grapple with the expectations of sharing more details on their portfolios with investors on the one hand, and maintaining sufficient control over how that information is shared on the other. Cybersecurity is a top-line issue for managers on the back of the SEC’s recently issued Initiative Risk Alert highlighting the importance on information and cybersecurity preparedness.
As Chisholm points
- 02/06/2015
Equity-focused hedge fund strategies are making good gains in 2015 and despite momentum slowing down in April and May, should be well placed to generate further alpha in the second half of the year.
There are three trends to pick up on:
Strong performance among Asia Pacific managers
European market neutral strategies improving
Event-driven is set for a strong second half of the year
The recent rally in Asian markets has led to Asian long/short equity funds outperforming the overall Long/Short Equity Broad Index run by Lyxor Asset Management. Indeed, the index, which is up 5.1 per cent YTD, is
- 02/06/2015
Craig Botham, Emerging Markets Economist at Schroders comments on the latest GDP figures from India and Brazil…
"Surprising first quarter growth figures for both India and Brazil were released today. In both economies, we think the numbers could trigger monetary policy easing. India’s economy grew 6.1 per cent in the first quarter of 2015, some way below City expectations of 7 per cent growth, year-on-year, and much lower than the previous quarter’s 7.5 per cent growth. Brazil, which released its figures at the same time, managed to beat expectations by contracting less than expected, at 1.6 per cent. We expect
- 02/06/2015
Wilshire Consulting, the institutional investment advisory and outsourced-CIO business unit of Wilshire Associates Incorporated, has named Steven J Foresti as its chief investment officer (CIO).
Foresti, a managing director, will continue as head of Wilshire Consulting’s Investment Research Group, which oversees strategic investment research and the development of asset class assumptions for use in Wilshire Consulting’s asset allocation modelilng. Appointing him as CIO helps reinforce Foresti’s role in harnessing Wilshire’s investment and manager research into actionable recommendations for Consulting non-discretionary and OCIO clients.
“In this important role as Chief Investment Officer, Steve will continue to lead our investment research efforts
- 02/06/2015
BNP Paribas Securities Services has completed the acquisition of Credit Suisse’s Prime Fund Services (PFS) business, a provider of fund administration, custody and banking services for alternative investment managers.
This acquisition makes BNP Paribas Securities Services a leader in the alternative fund administration space with USD237 billion in assets under administration.
Patrick Colle, General manager of BNP Paribas Securities Services, says: “This acquisition is a key step in the development of our global fund business and puts us in a good position to support the convergence of traditional and alternative managers.
“Our clients will benefit from the combination of PFS’
- 02/06/2015
The current year is on track to be the best year for M&A ever. Since the beginning of the year, global M&A volumes have reached USD1800bn according to Bloomberg, the best first five months in twenty years. Such figures include announced, pending and completed deals and are thus subject to revisions. Overall, US deals dominate, accounting for 45 per cent of M&A activity year to date and in terms of sectors, health care is leading, followed by financials and communications.
- 01/06/2015
By James Williams – Sovereign Wealth Funds are showing a lot of appetite for real estate assets as total AUM in this segment of the alternative funds space continues to build and investors look to diversify their portfolios.
North America remains the most favoured region, with 59 per cent of SWFs allocating to that market; down from 72 per cent in 2013 according to the latest research by Preqin in its 2015 Preqin Sovereign Wealth Fund Review.
Indeed, 57 per cent prefer a global approach, broadening out their portfolios to include trophy real estate assets as well as exposure to private
- 01/06/2015
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