Funds
Managed futures were unable to maintain momentum in May as the battering equity markets and oil prices took from trade wars and tariffs contributed to CTA funds dropping 0.19 per cent, according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions.
For the year-to-date, CTA funds remained in positive territory through the end of May, up 2.27 per cent.
Gainers and losers were evenly split in May among the eight CTA sectors tracked in the Barclay CTA indices, though all remained in the black for the year.
“While rallies in energy and equity markets propelled managed
The gross return of the SS&C GlobeOp Hedge Fund Performance Index May 2019 measured -0.92 per cent. Hedge fund flows meanwhile, as measured by the SS&C GlobeOp Capital Movement Index advanced 0.19 per cent in June.
“SS&C GlobeOp’s Capital Movement Index showed a gain of 0.19 per cent for June of 2019, reflecting positive net inflows. On a year-over-year basis, this gain was lower than the 0.48 per cent increase reported for the same period a year ago for June 2018, but was well within the range of normal variation,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “Overall,
Global trade disputes and oil price downturns took a toll on hedge funds in May, bringing an end to the industry’s four-month run of positive returns. For the month, the hedge fund industry was down 1.47 per cent, 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 down 6.35 per cent for the month. Year-to-date through the end of May, hedge funds returned 5.23 per cent, while the S&P was up 10.59 per cent on the year.
“Hopeful signs from US-China trade talks vanished in
Crestbridge has established a branch of its Luxembourg Management Company (ManCo) in London as the business seeks to cement ties between the UK and Luxembourg and secure new opportunities post-Brexit.
The move comes after Crestbridge received formal regulatory approval to establish a branch of its EU-based ManCo, the ‘Crestbridge Management Company SA’, in London.
Operating out of Crestbridge’s existing London office in Mayfair, the branch is intended to act as a convenient point of contact for London fund managers making use of or exploring the potential offered by an EU ManCo as part of their European market access strategy.
Overall hedge fund industry returns turned negative in May after a four-month string of positive results to start off the year, according to the just-released May 2019 eVestment hedge fund performance data.
Aggregate industry performance stood at -1.55 per cent in May, with year-to-date (YTD) performance positive at +4.77 per cent.
Equities created much of the pain for the industry during May. Among primary markets, Equity strategies fell sharply in May, coming in at -2.61 per cent. YTD returns are still positive at +6.05 per cent. Among primary strategies, Event Driven – Activist hedge funds and Long/Short Equity funds
Tishman Speyer has agreed a lease with Capital Fund Management for space at Smithson Plaza, a refurbished estate at 23-27 St James’s Street, previously known as ‘The Economist Plaza’.
Founded in 1991, Capital Fund Management (CFM) is an alternative investment manager and a pioneer in applying quantitative and systematic trading strategies to capital markets across the globe.
Designed by renowned architects Peter and Alison Smithson and completed in 1964, Smithson Plaza comprises three mixed-use buildings (Tower Building, Bank Building and Residential Building) totalling approx. 81,000 sq ft arranged around an elegant central plaza.
Following the acquisition of the estate in
StatPro Group, an AIM-listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has acquired the environmental, social and governance (ESG) research and index business unit (ECPI) from ECPI Group for EUR2.9 million (GBP2.6 million) in cash.
ECPI provides ESG indices and benchmarks and related services including constructing client specific benchmarks. It carries out ESG research and produces ratings on an active universe of approximately 3,500 companies (total universe of 4,500+) globally and uses these ratings to qualify companies for inclusion into a series of ESG investable indices, or to provide portfolio screening services.
The
The Eurekahedge Hedge Fund Index slumped 0.63 per cent in May as hedge fund managers struggled to generate returns during the risk-off month.
The Trump administration’s decision to raise tariffs on USD200 billion of Chinese imports signalled the escalation of the trade conflict between the US and China, leading to retaliatory tariffs from the other side. The worsening global economic outlook pushed global equities into the red for the month, as indicated by the 6.12 per cent decline posted by the MSCI ACWI (Local).
On the other hand, the US 10-year treasury yield dipped to its lowest point in almost
The Marlborough Group has strengthened its international proposition with the launch of a new risk-graded range of UCITS funds of funds domiciled in Ireland.
The four funds – Marlborough Defensive, Marlborough Cautious, Marlborough Balanced and Marlborough Adventurous – have been launched in response to investor demand.
They will invest across a range of key asset classes, with underlying funds selected primarily from Marlborough’s award-winning UK-registered range. Maximum equity exposure will range from 20 per cent for Marlborough Cautious to 100 per cent for Marlborough Adventurous.
The portfolios will be managed by the Marlborough Investment Management team, who are based in
Barnes & Noble is to be acquired by funds advised by Elliott Advisors (UK) Limited (Elliott) for USD6.50 per share in an all-cash transaction valued at approximately USD683 million, including the assumption of debt.
Elliott’s acquisition of Barnes & Noble, the largest retail bookseller in the United States, follows its June 2018 acquisition of Waterstones, the largest retail bookseller in the United Kingdom. James Daunt, CEO of Waterstones, will assume also the role of CEO of Barnes & Noble following the completion of the transaction and will be based in New York.
The USD6.50 per share purchase price represents a
