Funds
The Lyxor Hedge Fund Index was down 1.07 per cent in April, with seven out of 10 Lyxor indices in positive territory, according to the firm's latest Alternative Investment Industry Barometer.
Bottom-up strategies outperformed, supported by the improvement of the alpha backdrop.
On the negative side, macro strategies suffered ahead the French elections.
“Lower near-term political risk and persisting signs of recovery lead us to be overweight on European stocks and banks. Stock pickers should also benefit from the improvement of the alpha backdrop as investors re-focus on the European recovery and companies’ fundamentals. Overall, we continue to favour
PineBridge Investments, a global multi-asset class asset manager, has launched the PineBridge European Secured Credit Fund, co-managed by portfolio managers Julie Bothamley and Evangeline Lim and global head of credit and fixed income Steven Oh.
The investment objective of the fund is to provide investors with income returns and capital preservation from a diversified portfolio of European sub-investment grade debt obligations issued by corporations in various industries and geographical regions.
The fund will seek to achieve these returns from investing in primarily senior secured obligations.
“Senior secured debt, particularly, bank loans, carry a higher recovery rate and rank
Independent fund research company Fitz Partners gives an insight into the calculations of funds’ performance fees and their choice of benchmarks in the latest edition of its Performance Fee Benchmarking Report and Database.
Hugues Gillibert (pictured), chief executive officer of Fitz Partners, says: “In light of growing discussions on how asset managers should be charging for ‘value’ and the alignment of investors and fund managers’ interests through the possible development of performance related fees, a deep understanding of performance fee structures is critical. Our latest Performance Fee Benchmarking report and database, offers the means to easily compare and analyse different performance
A strategic data agreement between Thomson Reuters and S&P Global is aiming to deliver the industry’s most comprehensive transcript data service to financial services professionals.
Under the agreement, S&P Global Market Intelligence (a division of S&P Global) will become a major provider of transcript coverage on both public and private companies including complete coverage of companies in the S&P 500 and other leading stock market indices to users of Thomson Reuters desktops platforms including Eikon, Thomson One and Thomson Reuters feeds.
S&P Global Market Intelligence is a provider of multi asset class research and data, and Thomson Reuters Financial
Apex Fund Services has agreed a recapitalisation deal with middle-market private equity firm Genstar Capital and is also to acquire Equinoxe Alternative Investment Services.
Headquartered in Bermuda, Apex was founded in 2003 by Peter Hughes (pictured) and today provides back office, middle office, regulatory reporting and other administrative services to a global customer base of asset managers across all asset classes.
With the addition of Equinoxe, Apex will increase its suite of middle office solutions and will administer close to USD80 billion in assets.
With enhanced capabilities, global reach and capital support from Genstar, Apex has a goal
The performance of hedge funds, as measured by the Lyxor Hedge Fund index, was flat last week, according to the latest weekly brief from Lyxor cross asset research team.
It was essentially hampered by the negative performance of global macro managers, who had maintained short positions on the EUR vs USD and long positions on commodities (energy and metals).
As a result of adverse market movements compared to their positioning, the Lyxor Global Macro index was down 0.5 per cent last week. The remaining hedge fund strategies were in positive territory, led by CTAs (+0.7 per cent).
Lyxor
Hedge funds posted their fourth consecutive month of gains this year, up 0.54 per cent during the month of April, while underlying markets as represented by the MSCI AC World Index (Local) were up 1.17 per cent over the same period.
That’s according to EurekaHedge’s latest Index Flash Update which says that the Macron vs Le Pen run-up to the French presidential election provided some relief for the markets especially for European equities as expectations for a Macron victory in the second round seemed likely.
In the Eurozone and elsewhere in the world, economic data for Q1 2017 was
Fixed income impact investing manager Community Capital Management’s (CCM) flagship CRA Qualified Investment Fund has exceeded USD2 billion in assets.
"We are excited and proud to share with our clients and industry partners that the CRA Qualified Investment Fund has reached another important milestone, surpassing USD2 billion in assets," says David Sand, chief investment strategist of CCM. "Reaching this level is a testament to the increasing demand for impact investments and the many investors specifically looking for fixed income impact investments."
CCM manages USD2.4 billion in assets – including the CRA Qualified Investment Fund, the CCM Alternative Income Fund
LoCorr Funds has reduced the management fees for the LoCorr Macro Strategies Fund, formerly the Managed Futures Strategy Fund, as the fund surpasses USD1 billion in net assets.
The new fee structure will reduce the management fee from 1.85 per cent to 1.75 per cent for all Macro Strategies Fund share classes, reduce the expense cap for all share classes and eliminate the short-term redemption fee for the fund.
LoCorr Macro Strategies Fund has achieved a Five-Star Overall Morningstar Rating among 97 Managed Futures Funds based on the three- and five-year risk adjusted return for the period ending 3/31/2017.
Independent fund and corporate services provider the Aztec Group has established two Jersey Private Funds (JPFs), the first funds to be formed since the regime’s inception on 18 April 2017.
Introduced last month by the Jersey Financial Services Commission, the new JPF product has been designed to rationalise and consolidate Jersey’s private fund regimes for funds offered to up to 50 professional investors.
The Aztec Group worked closely with law firm Mourant Ozannes to establish the first new fund structures approved under the new regime. The first, a private equity fund, required a closed-ended limited partnership managed by its
