Funds
Emerging markets assets are expected to further weaken this month, as EM economies grapple with a rise in Covid-19 cases and an uncertain recovery in China, Man Group officials said on Tuesday.
Man observed how emerging market equities, currencies and local bonds have been down in the month of May for eight of the past ten years, and predicted the trend will continue this year.
In a market commentary, Man officials highlighted rising debt-to-GDP ratios since the before the coronavirus outbreak, coupled with a sustained downturn in economic activity as the virus continues to spread.
Emerging markets hedge fund managers
GoldenTree Loan Management (GLM) and its affiliated investment manager GoldenTree Asset Management (collectively GoldenTree), have cloed a USD503 million collateralised loan obligation (CLO) to be managed by GLM. With the closing of this CLO, GoldenTree Loan Management US CLO 7 (GLM US CLO 7), GoldenTree has issued 11 CLOs totalling USD6.5 billion under its GLM CLO strategy. Since its inception in January 2017, the GLM strategy was intended to be compliant with applicable Risk Retention regulations. While a US Court of Appeals ruling on 9 February, 2018 led to repeal of risk retention for open market CLOs, GLM CLOs are intended
Hedge funds trading cryptocurrencies doubled their assets under management last year – but returns remain volatile, with the ability to survive hinging heavily on performance, a new industry survey has found.
The ‘2020 Crypto Hedge Fund Report’, jointly published today by PwC and Elwood Asset Management, a digital assets-focused investment firm, surveyed more than 40 managers running active crypto hedge funds during Q1 2020.
The wide-ranging report – which explores both quantitative issues within the crypto hedge fund sector, including liquidity terms, trading of cryptocurrencies and performance, as well as qualitative themes, such as best practice with respect to custody
Fulcrum Asset Management, a London-based multi-asset fund manager, has withstood 2020’s economic shock and continued unpredictability with an all-weather absolute return approach to trading and cross-asset view of markets.
Hedge funds staged a fightback in April following a torrid first quarter for the industry, recording their biggest monthly gain since the 2008 global financial crisis, with strategies of various stripes successfully trading the recent stock market rebound and heightened oil market volatility.
New Hedge Fund Research data shows equity hedge, event driven, energy and basic materials, and activist-focused hedge fund strategies drove gains across the sector last month.
Looking ahead, the continuing volatility and uncertain macroeconomic backdrop now offers “dynamic opportunities” for hedge fund outperformance in 2020, HFR said.
The HFRI Fund Weighted Composite Index – a global equal-weighted
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 3.01 per cent in April, outperforming the 2.88 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.
“The markets recovered from a challenging March on the back of improved data surrounding the COVID-19 pandemic and continued economic support from the federal government,” says Jason Schwarz,
Brummer & Partners, a long-running Swedish multi-strategy hedge fund firm, saw its flagship Brummer Multi-Strategy vehicle up marginally in April, as solid gains across its long/short credit, systematic equity, relative value and macro strategies were offset by sharp losses in tech-focused long/short equity trades.
CTAs and trend-following hedge fund strategies maintained their recent impressive momentum, profiting from continued trends across commodities and bond markets, new Société Générale data for April shows.
The hedge fund industry recorded USD33 billion of redemptions in Q1 according to HFR, making it the highest figure since the second quarter of 2009, as investors de-risked their portfolios. But this redemption figure could arguably be even higher come 30 June, as the full impact of Covid-19 becomes clearer.
Macro hedge fund, Reminiscent Capital (Reminiscent), has launched a Cayman Fund to enable broader access to its Asia Macro Master Strategy (Strategy). The Strategy, which is employed to construct a highly liquid portfolio centred around rates, FX and equities, was launched in February 2019 and has previously only been available to Australian investors via an Australian Unit Trust.
The strategy finished Q1 2020 up 16.5 per cent before fees, navigating the recent market turmoil successfully and significantly outperforming the HFRI Macro Discretionary Thematic Index YTD and since inception.
The focus of the fund in investing only in liquid products and its
