Funds
Performance challenges in the global hedge fund industry continued in October, according to the latest eVestment hedge fund performance data, with the industry’s aggregate performance of -3.10 per cent for the month dragging year-to-date (YTD) performance into the red at -2.55 per cent.
October was the second lowest month in performance since September 2011.
eVestment says: “The search for bright spots in the industry was difficult in October as almost every hedge fund primary market and primary strategy was in the red for the month, although many are still in positive territory YTD. October’s fund performance and resulting impact
The Eurekahedge Hedge Fund Index slumped 2.19 per cent in the volatile month of October, bringing year-to-date returns down to -2.08 per cent. The MSCI AC World Index (Local) declined 7.33 per cent in what turned out to be the worst month for both the hedge fund industry and the global equity market since 2011.
North American hedge fund managers lost 2.25 per cent over the month as underlying equity markets slumped despite robust economic fundamentals and the strong third quarter corporate earnings season in the US.
Over in Asia, concerns over slowing economic growth and the Fed’s
QMA, the quantitative equity and global multi-asset solutions manager of PGIM, has acquired Wadhwani Asset Management (WAM), a London-based quantitative macro-focused investment management firm.
Upon closing, WAM, which runs quantitative macro hedge funds and risk premia strategies, will become part of the QMA business.
Subject to all regulatory approvals, the deal is expected to close in the first quarter of 2019. Upon completion, the existing WAM investment platform will operate independently of QMA’s investment platform, with WAM founder Dr Sushil Wadhwani continuing to serve as its chief investment officer. The acquisition will bolster QMA’s global build-out efforts, and QMA
International Solutions Network (ISN), a San Francisco-based consulting company with offices in London and New York City, has joined the Investment Association’s (IA) Velocity FinTech Accelerator as a Consulting Company Partner.
ISN a capital markets and FinTech consulting company and developer of integrated capital markets platforms and solutions, will work to support the wider FinTech community on new data sets, new indices, pre-trade discovery, trading, risk and analytics solutions.
The teams at ISN and Velocity will explore new opportunities and provide valuable insights on market development, both in the UK and internationally, for the benefit of the sector.
RSRCHXchange, a research marketplace and aggregator, has launched a new ESG (Environmental, Social and Governance) initiative with dedicated functionality on its RSRCHX platform focusing on specialist ESG research.
RSRCHXchange says that with concerns around responsible investing becoming increasingly prevalent, ESG research has seen a large rise in popularity, helping investors ensure they are able to direct their funds into sustainable opportunities which take the long-term picture into account.
With issues such as climate change and company management recently being brought into stark focus, many are turning to ESG research to ensure their portfolios continue to comply and attract a
The selloff in October was difficult to navigate for hedge funds, but there were substantial divergences across strategies, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
Lyxor writes: “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 underperform value and low beta stocks. Within Event-Driven, Special Situations strategies were particularly hurt but Merger Arbitrage managers were highly resilient.
“On a positive note, L/S Credit, Merger Arbitrage and Market Neutral L/S strategies were highly resilient thanks to
Mid-year figures from Jersey’s regulator show that the Jersey Private Fund structure (JPF), launched last year, is continuing to show strong appeal across alternative asset classes.
According to statistics collated by the Jersey Financial Services Commission (JFSC), 130 JPFs had been established by 30 June this year holding combined total assets under management (AUM) of GBP19.4 billion.
The figures also show that around half of the AUM figure (48 per cent) is attributed to infrastructure, debt and credit funds, whilst hedge funds account for almost a third (29 per cent). Private equity and venture capital funds make up 16
An affiliate of LibreMax Capital (LibreMax), an asset management firm specialising in structured credit, is to acquire Trimaran Advisors, a US-based investment manager with expertise in managing collateralised loan obligations (CLOs), from KCAP Financial (KCAP).
Trimaran currently manages six CLOs with approximately USD3 billion of assets under management. Following the close of the transaction, Trimaran’s Chief Investment Officer and head of its CLO platform, Dominick Mazzitelli, will continue to lead the business, supported by the existing management team.
“Trimaran is a well-respected CLO manager with a seasoned team of investment professionals, whose strategy complements our deep structured credit expertise,”
The Carlyle Group (NASDAQ: CG) has made a strategic investment in alternative investments platform iCapital Network.
Abacus Group, a provider of hosted IT solutions and application hosting for alternative investment firms, has completed the acquisition of Hedgepoint Solutions, a boutique IT consulting firm based in New York City.
“Abacus Group has been doing some amazing things in the hosted IT space, growing not just throughout the US but also internationally into the European market. I’m excited for us to integrate with such an innovative company,” says Vick Manocha, Managing Director of Hedgepoint Solutions.
Founded in 2001, Hedgepoint Solutions has provided a wide array of technology services to businesses across various industries and sectors, with a
