Funds
Hedge funds posted their fifth consecutive month of gains this year, up 0.31 per cent during the month of May, according to the latest Index Flash Update from EurekaHedge. On a year-to-date basis, managers gained 3.25 per cent while underlying markets are up 7.45 per cent.
Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) were up 1.09 per cent over the same period. Equity markets performed well this month with strength led by developed markets. Encouraging macroeconomic data from Europe and Japan buoyed economic recovery sentiments with growth in manufacturing activity adding to much optimism. On
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for May 2017 measured -0.13 per cent. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 1.24 per cent in June.
“SS&C GlobeOp’s Capital Movement Index for June 2017 rose 1.24 per cent, a strong improvement in net flows from the -0.07 per cent reported a year ago for June 2016,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “This very favourable result reflects a marked increase in capital inflows, as well as better asset retention. If this increased rate of capital
The Open Protocol (OP) Insurance Working Group has published the final version of the Open Protocol Template and Manual for Insurance Funds, following a public consultation launched in November 2016.
The OP Template for Insurance Funds will facilitate better risk disclosure about insurance risk exposures. It captures data on the most important areas of insurance risk and facilitates aggregation and comprehensive monitoring of these risk exposures. Because of the uncorrelated nature of most insurance risks, the Insurance Template adds another dimension of risk information about a portfolio, rather than adding to existing risk data dimensions.
Tony Rettino, Founding Principal and
Fenics Market Data, BGC’s Market Data division, has agreed to a distribution partnership with OTC energy brokerage Amerex Brokers (Amerex), whereby Fenics Market Data will provide Amerex energy-focused market data products to its customer base.
The Amerex market data service offers comprehensive daily indicative price reports covering the North American gas, power, and environmental markets. Amerex Brokers LLC is a wholly-owned subsidiary of GFI Group Inc. (NYSE: GFIG), a leading inter-dealer broker specialising in over-the-counter derivatives products and related securities.
Fenics Market Data’s Global Head of Sales Elliott Hann (pictured), says: “Fenics is delighted to further expand our suite
Hedge fund performance was mixed across strategies in May, according to the latest date released by Lyxor, with Event Driven funds extending their winning streak, while Macro strategies underperformed on the back of long positions on the USD and hard commodities.
The other hedge fund strategies delivered positive returns.
Merger Arbitrage managers outperformed Special Situations in May. A number of M&A deal positions paid off as spreads narrowed. That included investments on NXP Semiconductors, Straight Path Communication and Syngenta to name a few. On the Special Situations side, the strong earnings season bolstered returns for several core positions such as
THL Credit Advisors has closed on a total of USD511 million in commitments to its third direct lending fund.
Strong institutional investor demand from both existing and new investors enabled THL Credit Direct Lending Fund III and affiliated vehicles to exceed its target, driven primarily by the firm’s differentiated platform, and its origination and structuring capabilities in the lower middle market.
Founded in 2007, and with approximately USD10 billion of assets under management, THL Credit takes a proactive, disciplined, and creative approach to investment sourcing, underwriting and portfolio management. The firm’s lower middle market direct origination platform offers multiple
Systematic alternative investment manager Devet Capital Investments has announced that assets under management have reached USD100 million, having risen from USD29 million in April 2016. “This is an important milestone for us, particularly as our asset growth has been fully organic without any involvement of seeders or accelerators,” says Irene Perdomo, co-founder, Devet Capital Investments.
The flagship program, Devet Capital Absolute Return Strategy, utilises systematic, market-neutral strategies on commodities’ futures. The strategy searches for statistically-defined anomalies in the shape of commodity curves that recur over time, seeking to produce consistent returns across different market regimes.
“We attribute our rapid asset
Singapore Diamond Investment Exchange (SDiX), the world’s first commodity exchange for physically settled diamonds, has raised USD10 million in Series B+ financing.
The round, which closed on June, was led by existing investors Vertex Ventures and SDiX Chairman Alain Vandenborre (pictured). New investors in this round include Simon Murray, Chairman and founder of SMC and GEMS and former Group Managing Director of Hutchison Whampoa; and Richard Ji, co-founder and Chief Investment Officer of All-Stars Investment and former Asia-Pacific Head of Internet/media investment research at Morgan Stanley.
The new investment will support the continued execution of SDiX’s strategy to create
The Exchange Council of the European Energy Exchange (EEX) has held a meeting in Leipzig to determine how the Phelix Future for the market area Germany/Austria should be determined after the common German-Austrian price zone split.
The meeting was chaired by Dr Michael Redanz, Managing Director of EWE Trading.
The Exchange has approved that the Phelix-DE/ATIndex will be calculated as a weighted average of the hourly day-ahead prices for Germany and Austria determined by EPEX SPOT. The weighting ratio of Germany to Austria shall be set at 9:1. “
This proportion takes into account the ratio of the
Hedge funds posted the seventh consecutive month of gains in May, with contributions from Currency and Technology exposures, according to data released today by HFR.
The HFRI Fund Weighted Composite Index (FWC) gained 0.5 per cent for the month, bringing YTD performance to +3.5 per cent, and extending the record Index Value to 13,406. The HFRI FWC has now advanced in 14 of the trailing 15 months.
HFRI gains were led by Event-Driven (ED) strategies, as the HFRI Event-Driven (Total) Index advanced 0.6 percent, the 11th consecutive monthly gain, bringing YTD performance to +3.9 per cent. ED sub-strategy performance
