Funds
Amidst the ‘fog of war’ surrounding Brexit, one rumour that keeps swirling around is that a number of hedge fund managers who ‘directly or indirectly bankrolled Boris Johnson’s leadership campaign’ in the summer and/or donated to the Leave campaign in 2016, are set to profit handsomely from the potential chaos of a no-deal Brexit. But as Tanzeel Akhtar asks, is this really a ‘hedge fund heist’ as some claim or just prudent portfolio positioning?
Crispin Odey, a London-based hedge fund manager and the founder of Odey Asset Management reportedly gave GBP870,000 to the Leave campaign and then made GBP220 million
Union Bancaire Privée (UBP) is launching a new a technology-focused long/short strategy on its alternative UCITS platform in partnership with New York-based alternative investment manager Shannon River Capital Management (Shannon River).
U Access (IRL) Shannon River UCITS is managed by Spencer Waxman’s (CIO and Founder) Shannon River. and will allocate capital opportunistically and dynamically across SMID cap, “mispriced growth” stocks in technology-related sectors. More specifically, the investment focus will be in areas where disruptive technological changes have occurred, including among others intellectual property, software, media, entertainment, equipment, connectivity and logistics.
The strategy will utilise a fundamental approach, while research
Hedge funds returned to the black in September, posting an industrywide monthly return of 0.32 per cent, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
By comparison, the S&P Total Return Index was up 1.87 per cent in September.
For the year-to-date through September, hedge funds returned 7.00 per cent. Over the same period, the S&P Total Return Index gained 20.96 per cent.
September’s gain was a welcome reprieve after a losing month in August (-0.96 per cent). Sector performance was mixed, gainers outnumbered those in the red by a 5:3 margin. Emerging market funds – excluding Eastern
Sycomore Asset Management (Sycomore AM) has broadened its range of SRI funds with the launch of SRI Next Generation, a fund with a focus on companies offering business models that are compatible with sustainable growth objectives.
Sycomore Next Generation aims to deliver steady returns with limited risk, while complying with sustainability development considerations. Sycomore Next Generation will allow Sycomore AM to focus on companies able to generate sustainable performances and meet their ESG-related guidelines.
As a balanced, wealth-management strategy, the fund’s allocation to equity (0-50 per cent) and bond (0-100 per cent) markets is managed opportunistically. The fund’s bond
By Beatrice Bedeschi – A month after the drone attacks on the Abqaiq and Khurais oil facilities, Saudi Arabia has surprised observers by being able to bring oil production capacity to nearly pre-attack levels, which has quickly stabilised oil prices after the spikes seen in the immediate aftermath of the incidents.
Nonetheless, in the long-term the country remains heavily exposed to potential further similar incidents, raising the issue of security of supply at key production assets, commentators told Hedgeweek.
On 14 September, a number of explosions were recorded at Saudi Arabia’s Khurais oil field and Abqaiq oil processing plants, owned
Specialist fixed income manager, BlueBay Asset Management (BlueBay), has launched a new actively managed emerging markets short duration bond fund, The BlueBay Emerging Market Aggregate Short Duration Bond Fund.
The UCITS fund, domiciled in Luxembourg, combines emerging market sovereign and corporate debt into one portfolio and consists of hard currency assets trading at a spread over US Treasuries. Managed as a single, high-conviction strategy, the fund seeks access to the broadest spectrum of short-dated emerging market credit across 58 countries and 13 industry sectors.
The portfolios managers are Jana Velebova, Polina Kurdyavko and Anthony Kettle who utilise expertise from
MUFG Investor Services, a global asset servicing arm of Mitsubishi UFJ Financial Group (MUFG), is to acquire select divisions of the fund administration business of Maitland, a privately owned global advisory, administration and family office firm.
Maitland personnel will join MUFG Investor Services offices in the Cayman Islands, Halifax, and Dublin.
When completed, the acquisition will add approximately USD20 billion in assets under administration (AUA) to MUFG Investor Services, bringing the total AUA to over USD600 billion and expanding the firm’s market share in major markets. The assets consist of hedge funds and private equity funds.
Additionally, new
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.14 per cent in September, underperforming the 0.45 per cent monthly return of the HFRX Global Hedge Fund Index.
The Wilshire Liquid Alternative Index family is a joint offering between Wilshire Funds Management, the global investment management business unit of Wilshire Associates, and Wilshire Analytics, creator of the Wilshire 5000 Total Market Index.
The Wilshire Liquid Alternative Equity Hedge Index returned 0.86 per cent and 0.57 per cent in September and the third quarter, respectively. The Index underperformed the
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for September 2019 measured -0.24 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 1.16 per cent in October.
“SS&C GlobeOp’s Capital Movement Index was -1.16 per cent for October 2019, indicating net outflows consistent with normal seasonal patterns. On a comparative basis, the -1.16 per cent reflects lower net outflows than the -1.37 per cent reported for the same period last year and, in fact, is the lowest net outflow for the month of October over the past five years,” says
In the three months to 30 September 2019, FUM at Man Group decreased 1 per cent to USD112.7 billion driven by net outflows of USD1.1 billion (comprising sales of USD6.6 billion and redemptions of USD7.7 billion) and negative FX and other movements of USD1.3 billion, partially offset by positive investment movement of USD0.7 billion.
Absolute return FUM increased by USD0.4 billion in the quarter. Flows were broadly flat, with inflows into AHL Institutional Solutions and AHL Alpha offset by outflows from Man GLG’s equity and credit strategies. Positive investment movement of USD0.6 billion was driven by positive performance at Man
