Funds
On average, Alternative UCITS funds suffered during October’s market correction with almost every strategy index showing a negative performance, according to LuxHedge’s latest market overview.
The LuxHedge Global Alternative UCITS Index posted a loss of -1.67 per cent, bringing YTD down to -3.08 per cent, the worst drawdown since early 2016. Only one out of five index constituents has been able to post positive results since the beginning of 2018.
LuxHedge says: “Many Equity Hedge strategies suffered from a net positive beta in October with the LuxHedge Equity Long/Short UCITS index declining 2.90 per cent (-3.71 per cent YTD).
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 1.29 per cent loss in October. Year to date, the Index is down 2.87 per cent.
“Although many traders were able to profit from the US dollar’s strength against most of the major currencies, the profits were offset by losses in the equity, interest rate, and commodity sectors,” says Sol Waksman, founder and president of BarclayHedge. “Seventy per cent of CTA funds posted losses in October.”
Six of Barclay’s Managed Futures indices lost ground in October, while three had gains.
Cryptocurrency Traders gave up 3.62
The sell-off in October was difficult to navigate for hedge funds, but there were substantial divergences across strategies, according to Lyxor’s latest Hedge Fund Brief.
Lyxor’s Philippe Ferreira (pictured), says: “L/S Equity and Event-Driven strategies underperformed due to their elevated market beta. L/S Equity strategies also suffered due to the rotation in risk factors which saw growth/ momentum stocks underperforming value and low beta stocks. Within Event-Driven, Special Situations strategies were especially hurt but Merger Arbitrage was resilient.”
“On a positive note, L/S Credit, Merger Arbitrage and Market Neutral L/S strategies were highly resilient thanks to their cautious positioning
Oxane Partners, a technology-driven solutions provider to the alternative investments industry, has signed long term engagements with four New York based firms in the last six months, strengthening its foothold in the US market.
The new clientele, all credit-focussed investment firms with interests in real estate, specialty finance and alternative lending would be leveraging Oxane’s portfolio management, reporting and analytics solutions.
The common theme, across the newly added clients, was the challenge in managing the growing volume of unstructured data and to consolidate, standardise, process and analyse it for efficient portfolio management. The firms were saddled with increasing complexity
Hedge Funds gave up 3.06 per cent in October according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 6.84 per cent decrease in the S&P 500 Total Return Index. Year to date, the Barclay Hedge Fund Index is down 1.90 per cent, while the S&P has gained 3.01 per cent.
“Slowing growth, rising interest rates and trade wars contributed to the largest monthly decline in the S&P 500 since September 2011,” says Sol Waksman, founder and president of BarclayHedge. “US equity markets lost approximately USD2 trillion in value during the month.”
Overall, 16 of Barclay’s 17
FundRock Management Company (FundRock) has completed the acquisition of SEB Fund Services (SEB FS) from Skandinaviska Enskilda Banken AB (publ) (SEB).
The deal was first announced on 22 May and has concluded following regulatory approval from the Commission de Surveillance du Secteur Financier (CSSF).
SEB FS is offering third party management company services to Nordic asset managers with Luxembourg-based investment funds. The business in its entirety, including some 20 employees, is as of today transferred to FundRock.
“This move is part of our five year plan and provides a strong foundation to reach our goal of becoming
International capital markets software firm genesis has completed a Series A financing round, securing a total of USD3 million from Illuminate Financial, a UK-based capital markets venture capital firm, and Tribeca Angels, a New York venture group.
genesis was founded in 2015 by Stephen Murphy and James Harrison, who have held senior roles at leading investment banks and capital markets software vendors around the world. Confident that the industry needed a different approach to innovation, genesis has dedicated the past four years to building a microservices technology framework designed specifically for the world of capital markets. This technical framework helps
SwissOne Capital, an asset management company specialising in crypto, is to launch what it says is the market’s first tokenised and fully-regulated index fund.
Crypto as an asset class continues to edge towards maturity, and each regulatory win advances that evolution. While other crypto funds exist, SwissOne Capital’s fund will be the first to offer the liquid utility of tokenisation with the safeguards of regulatory recognition. They will be licensed by FINMA for Swiss distribution.
According to a PwC global blockchain survey, regulatory uncertainty stands as the number one barrier to entry in the crypto market, with lack
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned -2.07 per cent in October, largely underperforming the 1.04 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 Incorporated, and Wilshire Analytics, creator of the Wilshire 5000 Total Market Index.
“October was a volatile month as markets processed the potential impacts of rising interest rates, as well as the ongoing presence of global geopolitical
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for October 2018 measured -3.07 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.64 per cent in November.
“SS&C GlobeOp’s Capital Movement Index rose 0.64 per cent for November, an increase from the 0.23 per cent gain for the same period a year ago,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “The increase in net flows this past month indicates investors are confident in hedge fund managers’ ability to generate favourable risk-adjusted returns in a period of
