Funds
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for May 2020 measured 3.17 per cent.Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.33 per cent in June.
“SS&C GlobeOp’s Capital Movement Index for June 2020 of 0.33 per cent indicates positive net flows into funds. On a comparative basis, the 0.33%% represents somewhat higher year-over-year net flows versus the 0.20%% reported a year ago,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Monthly net flows have been positive since February 2020 and are running ahead of the comparable period 2019 net flows for both the
Rhenman & Partners Asset Management, a Stockholm-based sector-specialist hedge fund firm, says 2020 is poised to be “a good year” for its flagship healthcare strategy, after it posted a double-digit return for the second month in a row.
Stock markets carried April’s momentum into May and hedge funds were among the beneficiaries posting a 2.71 per cent monthly return, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 4.76 per cent in May.
Year-to-date, the hedge fund industry is down 4.67 per cent through May. The S&P 500 Total Return Index is down 4.97 per cent over the same period.
All sectors but two tracked by the Barclay Hedge Fund Indices were in positive territory in May. The exceptions were the Merger Arbitrage
LexShares, a specialist in commercial litigation finance, has launched LexShares Marketplace Fund II (LMFII). With a USD100 million target fund size, LMFII will invest in litigation-related assets offered on the LexShares platform. LMFII opens on the heels of the company’s 100th legal claim investment, making LexShares one of the most active litigation funding firms in the world.
The firm closed LexShares Marketplace Fund I in January 2018, which was fully subscribed for USD25 million. Prior to this public launch, LMFII received commitments in excess of USD30 million, which includes two cornerstone institutional investors. LMFII is now accepting commitments from both institutional
The current market uncertainty and value discrepancy offers the biggest opportunity in volatility-based trading in a generation, according to Jerry Haworth (pictured), the chief investment officer of London-based 36 South Capital Advisors, who is preparing a new fund to capitalise on further volatility shocks up ahead.
Managed futures strategies slipped deeper into the red over the past week, having already started to give back many of their early strong 2020 gains last month – but short-term trend followers appear to have weathered the recent reversal, according to Société Générale data.
Société Générale’s main SG CTA index has lost 2.52 per cent so far in June, having earlier dropped almost 1 per cent in May. The index, which tracks the daily performance of a select pool of large managed futures strategies, has now fallen 3.76 per cent year-to-date.
Meanwhile, the SG Trend Index, which measures the net daily
Athanase is to acquire 70 percdent of the shares in Catella Fondförvaltning (CFF) for cash consideration of SEK126-154 million, depending on CFF’s development up to the transaction date.The consideration corresponds to the consolidated enterprise value of CFF and the effect on profit or loss is estimated at between -SEK13 and +SEK15 million, depending on CFF’s development until the transaction date. In view of the transaction, consolidated deferred tax assets have been reassessed, resulting in an impairment of approximately SEK70 million. Consequently, the aggregated loss after tax for the Catella Group for this is expected to amount to -SEK55 million to
Alternative asset Manager Balbec Capital (Balbec) has held the final close of InSolve Global Credit Fund IV, with total commitments of approximately USD1.2 billion, exceeding the Fund’s USD1 billion target and making it Balbec’s largest fund to date. The fund received significant backing from current Balbec clients and welcomed a number of new global institutional investors.
Consistent with the successful approach of Balbec’s predecessor vehicles, the Fund will seek to identify and capitalise on investment opportunities with a focus on a subset of non-performing loans where the borrower or assets are subject to an insolvency proceeding, restructuring, liquidation, or other
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 1.54 per cent in May, outperforming the 1.44 per cent monthly return of the HFRX Global Hedge Fund Index. The Wilshire Liquid Alternative Index family aims to deliver precise market measures for the performance of diversified liquid alternative investment strategies implemented through mutual fund structures, backed by a proprietary classification methodology.
“Markets continued to rally in May as optimism surrounding the development of a COVID-19 vaccine and the steady re-opening of the economy encouraged investors,” says Jason Schwarz, Chief Operating
Activist hedge funds and certain other special situations strategies are still holding off from piling into longer-term buy-and-hold stocks amid the continued market uncertainty, instead choosing to trade opportunistically around cyclical names recovering from their coronavirus battering.
Managers running special situations funds have made hay in the recent recovery in cyclical names, but “have not shown the same appetite for bargains than in previous sell-offs,” Lyxor Asset Management strategists said this week.
Traditionally, event driven and activist funds tend to underperform in risk-off markets due to their long structural beta, but typically rebound quicker by eschewing short-term volatility patterns.
They
