Funds
Hedge funds focused on emerging market economies remain in solid form, with India-focused managers powering ahead in the run-up to year-end.
India-focused funds are set be the “big performance winners” in 2021, eVestment said on Wednesday, despite losing more than 2 per cent in November.
Overall, emerging market strategies are up 5.27 per cent since the start of the year, with hedge funds trading India (whose returns stand at 40 per cent YTD) as well as Russia (up 11.52 per cent, despite a near-6 per cent November loss) driving performance.
On the flipside, Brazil-focused managers have tumbled almost 20
London platform Falcon Investment Management is planning to launch a fund of crypto hedge funds with the goal of raising USD250 million for the new product over the next year.
Due to debut in January, the Cayman-domiciled Falcon Fund of Funds will initially invest in five crypto-focused hedge fund teams that sit within Falcon’s platform and are subject to the firm’s risk and compliance controls.
The five separate teams manage arbitrage, market neutral, volatility, directional, and DeFi focused crypto strategies. The fund will charge one and 15, with monthly liquidity. There in an investment minimum of USD100,000.
The plan is
French systematic equity hedge fund Quantology Capital Management has launched a novel computer-based strategy which trades in the metaverse.
Alternative investment firm Angelo Gordon has appointed Allison Binns, former Executive Director for Global Sustainability Research at Morgan Stanley, as Head of Environmental, Social & Governance (ESG) and Sustainable Investing Strategies.
In this new role, Binns will lead and drive a best-in-class, strategic approach to ESG integration and opportunity across Angelo Gordon’s global platform. Binns will report to Josh Baumgarten and Adam Schwartz, Angelo Gordon’s co-Chief Executive Officers.
Spot Intraday markets operated by EPEX SPOT were up 17 per cent y-o-y in November to 11.1 TWh with Nordic markets reporting a new high to 428.9 GWh (previous record in July 2020: 346.5 GWh).
Both Swiss and Greek Power Futures reported triple-digit growth to 1.7 TWh and 1.4 TWh respectively, while Austrian Power Futures hit a new record with 6.2 TWh traded (previous record in December 2019: 4.6 TWh).
Japanese Power Derivatives achieved a volume of 554.1 GWh (+269 per cent), while US Power Derivatives recorded 247.3 TWh, increasing by 142 per cent compared to the same period last year.
CTAs’ run of positive performance over the last 12 months came to an abrupt end in November, as news of the Omicron Covid-19 variant hit markets at the end of the month, according to the latest figures from Society Generale.
The flagship SG CTA Index was down -3.79 per cent in November but is still strongly positive so far this year at 5.71 per cent. Likewise, the SG Trend Index lost -4.71 per cent for the month, but still stands up 8.59 per cent year-to-date, with one month still to go.
All of the individual CTA constituents of both indices
Maso Capital, an event driven and convertible arbitrage-focused hedge fund based in Hong Kong, was established in 2012 by Manoj Jain and Sohit Khurana, who previously managed money for Och-Ziff’s Asia-focused strategies.
Third Eye Asset Management Inc (TEAM), an affiliate of Toronto-based alternative capital firm Third Eye Capital (TEC), has held the initial closing of the TEC Credit Income Fund with approximately USD201 million of subscriptions of preferred units.
TEC and its employees have invested a total of USD29 million, including USD23 million in common shares, which provides first loss protection for investors and the pre-funding of an income reserve. The Income Fund is targeting a total raise of USD500 million, which may be increased due to investor demand.
The Income Fund was formed to transition the Third Eye Capital Alternative Credit
CME Group’s SOFR futures contracts have reached a new open interest record, surpassing 1.6 million contracts on 30 November, a 137 per cent increase in open interest year to date and more than 60 per cent growth since mid-September.
November’s SOFR average daily volume increased to 304,314 contracts per day, up over 250 per cent year on year.
Additionally, CME cleared SOFR swaps notional volume reached a fourth consecutive monthly record in November, surpassing USD124 billion in cleared notional. Notably, SOFR-indexed swaps accounted for a record 32 per cent of CME Group’s USD swap trades in November, up from 5 per cent in July.
MFA supportive of DOL’s efforts to remove barriers to plan fiduciaries’ ability to consider ESG factors
MFA supportive of DOL’s efforts to remove barriers to plan fiduciaries’ ability to consider ESG factors