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Global private equity firm TPG Capital is buying a stake in Hong Kong-based hedge fund sponsor HS Group Ltd (HSG) and establishing a strategic relationship with the company, HSG said in a statement on Thursday according to Reuters. The deal is TPG's first dedicated Asia hedge fund investment and signals a move to diversify its range of alternative assets in the region, pushing into a sector where rivals like Blackstone Group LP and Goldman Sachs already have a strong presence.   TPG's managing partner and co-head of Asia Tim Dattels will join the advisory board at HSG, which provides strategic
The UK's trade surplus in financial services is the biggest in the world, more than two and a half times bigger than the next largest surplus recorded by the US, according to figures from TheCityUK. It is also three times higher than Luxembourg in third and Switzerland fourth.   The latest figures available show that the UK's financial services trade surplus was USD71bn in 2013, up from USD68bn in 2012. According to TheCityUK, this demonstrates the huge competitive advantage the financial and related professional services industry brings to the UK, and the importance of the industry in attracting international business
The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished up 0.62 per cent in June. The Long/Short Equity strategy was the strongest performer for the month and year-to-date, finishing up 0.91 per cent in June and 3.75 per cent year-to-date through June.   The Event Driven strategy remains the second-highest performing strategy year-to-date and returned 3.11 per cent through June.
All seven of IndexIQ’s proprietary family of hedge fund replication and alternative beta indices recorded positive returns in June. The IQ Hedge Event-Driven Beta Index was the top performer with an increase 1.69 per cent over the month.   This was followed by the IQ Hedge Emerging Markets Beta Index (1.30 per cent) and the IQ Hedge Composite Beta Index (1.03 per cent).   The IQ Hedge Market Neutral Beta Index produced the smallest increase returning 0.29 per cent.
“By investing in the potential sellers and proven buyers, the Fund is uniquely positioned to fully take advantage of the bank merger trend in the US,” wrote FJ Capital Management LLC in its May 2014 investor newsletter. Regulation in the US is propelling M&A activity in the small-cap bank sector and represents a good opportunity for investors wishing to diversify their long/short equity allocation. And as Martin Friedman, co-founder (along with Andrew Jose) of FJ Capital Management tells Hedgeweek:   “There are 7,000 banks in the US, most of which are very small in size (under USD1bn in assets). Consolidation
BATS Chi-X Europe has added several new customers to BXTR, the exchange’s suite of on- and off-exchange trade reporting services. The service, which covers more than 11,800 reportable securities, has captured significant market share since its launch in November 2013, with an average EUR14.7bn reported each day.   The new BXTR participants include Deutsche Bank, Instinet, KCG and Liquidnet.   These firms join the initial customers who joined the BXTR service when it launched six months ago – Bank of America Merrill Lynch, Citigroup, Credit Suisse, JPMorgan, Morgan Stanley and UBS.   Mark Hemsley, chief executive of BATS Chi-X Europe,
To say that regulation is a challenge for hedge fund managers to get their heads around is an understatement. Law firms and regulatory consultancies have never been so busy as they meticulously guide their clients through the murky waters of Dodd-Frank and European Market Infrastructure Regulation (EMIR), the Alternative Investment Fund Managers Directive (AIFMD) in Europe, not to mention the Foreign Account Tax Compliance Act (FATCA). For a European hedge fund start-up, the AIFMD is the first piece of regulation to address. In addition, rules set by the Commodities & Futures Trading Commission (CFTC) in the United States under Dodd-Frank,
Markit has launched a new service for electronic trade confirmation and exercise management for the FX options market, while will be deployed by MarkitSERV, its trade processing service for the OTC derivatives industry. Barclays, Citi, HSBC, J.P. Morgan, Morgan Stanley, Nomura, RBS, UBS and major buyside institutions, including Citadel’s Global Fixed Income Fund, are working with Markit to design the new service that will provide electronic legal trade confirmation and an electronic system to manage the exercise processes for FX options.    This post trade solution will help participants reduce operational risk and become more efficient in their management of
All but one of Market Vectors Index Solutions’ (MVIS) six investable long/short equity indices recorded positive performance in June. The MV North America Long/Short Equity Index led the way with a return of 1.99 per cent for the month.   This was followed by MV Global Long/Short Equity Index (1.39 per cent), MV Asia (Developed) Long/Short Equity Index (1.04 per cent), MV Global Event Long/Short Equity Index (0.96 per cent), and MV Emerging Markets Long/Short Equity Index (0.08 per cent).   The MV Western Europe Long/Short Equity Index was the only index to finish the month in negative territory with
Edward Stileman, Fund Manager of the Waverton Asia Pacific Fund assesses Narendra Modi’s first month as Prime Minister of India… It will not be easy for Narendra Modi to rapidly turn around the Indian economy.  For the time being, it is right for the RBI to maintain a more hawkish tone – at least until there is concrete evidence of genuine supply-side reform. This will take time but Modi has the mandate to make it happen. He has started well by rationalising his cabinet and raising rail fares in the first few weeks of his term. Over the next couple

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