Funds
The Eurekahedge Hedge Fund Index rose 2.35 per cent in January 2019, recording its strongest January performance since 2006 as fund managers recovered from the losses sustained during the last few months of 2018.
The index ended 2018 with its weakest yearly showing since the global financial crisis, as it slumped 4.16 per cent.
Despite the strong performance of the hedge fund industry, preliminary data for January revealed that investor redemptions stood at USD5.3 billion, in contrast to the USD22.1 billion performance-driven growth recorded. Total asset under management for the global hedge fund industry stood at USD2,309.2 billion as of January 2019.
Mackenzie Investments has launched three new liquid alternative funds designed to manage the negative impact of market volatility and improve portfolio stability.
The funds join the Mackenzie Multi-Strategy Absolute Return Fund to form a suite of alternative solutions that can be used to help clients solve investment challenges by amplifying returns, mitigating volatility and managing inflation risk over the long term.
“We can now take a modern approach to portfolio construction that will create opportunities for stronger, better-diversified portfolios and outcomes for our investors,” says Michael Schnitman, Senior Vice-President, Product at Mackenzie Investments. “By using liquid alternatives’ winning
Carillon Tower Advisers, a multi-boutique asset-management firm with USD64.6 billion in assets under management and advisement, is to acquire ClariVest Asset Management.
Effective April, ClariVest will become a wholly owned subsidiary of Carillon Tower’s affiliate, Eagle Asset Management. The move follows Eagle’s purchase of an initial 45 per cent stake in ClariVest in 2012.
“We deeply value the partnership we have built with ClariVest in recent years, and we look forward to achieving an even stronger connection between Carillon Tower’s distribution capabilities and ClariVest’s unique investment products,” says Cooper Abbott (pictured), President of Carillon Tower. “ClariVest’s distinctive approach and experienced
Fund administrator Apex Group (Apex) has acquired Beacon Fund Services (Bermuda) Ltd, Beacon Corporate Services Ltd and Beacon Management Ltd (Beacon). Apex is a portfolio company of Genstar Capital.
The acquisition of Beacon, a Bermuda-based fund administrator, adds USD10 billion in assets under administration (AUA) to the Apex Group’s portfolio.
Beacon was established in 1995 and delivers sophisticated service offerings to both offshore and domestic hedge funds and other international entities. Beacon’s addition to the Apex Group is another strong strategic and cultural fit given its independent business model and focus on delivering a personal approach customer service.
Beacon
Investors pulled a modest USD1.66 billion from the global hedge fund industry in January. However, strong hedge fund performance almost across the board in January offset those redemptions, lifting total industry assets to USD3.214 trillion, according to eVestment’s January 2019 Hedge Fund Asset Flows Report.
Multi-Strategy hedge funds saw a major turnaround in investor sentiment to start off the year, with investors adding USD4.34 billion to these funds in January. This is a major contrast to the -USD7.87 billion investors removed from Multi-Strategy funds in Q4 2018 and the -USD19.32 billion investors removed for full year 2018. It will be interesting
Hedge funds were up 0.4 per cent last week as measured by HFRX indices and are up 0.6 per cent so far in February, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
Lyxor writes: “CTAs, which faced new difficulties since the beginning of 2019, outperformed during the period under review (up 1.3 per cent between February 13 and 20) on the back of their long European fixed income positioning. The strategy is up 0.5 per cent month-to-date and stands behind L/S Equity and Merger Arbitrage. However, alternative measures of CTA performance suggest they have done better
Avelacom, a provider of global connectivity and IT solutions provider for the financial services industry, has selected Interxion as its data centre partner in Ireland.
As Dublin’s financial industry continues to thrive with the growth of fintech, banking and cryptocurrencies, Avelacom is launching its latest point of presence (PoP) in Dublin to meet the growing demand in the Irish market. This growth is driven by new cryptocurrency trading platforms based in Dublin, international financial services expanding their services in Ireland and Ireland’s growing economy. To support this expansion Avelacom is working with Interxion to extend its low latency network to
Axiom Alternative Investments, a French asset manager with USD1.3 billion assets under management and offices in London and Paris, has launched the Axiom Credit Opportunity Fund – a market neutral credit derivatives strategy fund, targeting double digit net returns.
Axiom Credit Opportunity targets an annual net return of 12 per cent in EUR and a Sharpe ratio greater than two. The fund’s non-market-directional strategy will be invested in credit derivatives, a USD8.5 trillion market (Source: BRI).
The fund’s strategy focuses on capturing value arising from two principal sources: the structural price anomalies within the credit derivatives market and the opportunities created by
Most Alternative UCITS funds were off to a very good start in January, according to the LuxHedge Global Alternative UCITS Index which posted a solid gain of +1.30 per cent to start the year, well recuperating December losses. Four out of five funds were able to post positive results for the month.
Nearly every strategy index showed a positive performance, with funds within Equity Hedge leading the pack: LuxHedge Equity Hedge UCITS Index +1.68 per cent. Long/Short UCITS advanced with +2.25 per cent, Equity Market Neutral UCITS with +0.58 per cent. Performance was strongest for US and AP strategies, mainly
Neuberger Berman is launching a UK-domiciled fund range, with the group’s first strategy a global long/short equity portfolio run by investor Steve Eisman and team.
The new fund range provides UK investors with the broadest accessibility to Neuberger Berman’s innovative investment thinking and differentiated propositions – across its diverse investment platform of equities, fixed income, alternatives and multi asset. Neuberger Berman’s new fund range will deliver solutions in response to the needs and challenges of the UK marketplace, with products often designed in partnership with clients.
Neuberger Berman manages considerable institutional assets in the UK – while about 10
