Funds
Investors pulled USD20.7 billion from hedge funds last month – one of the largest drawdowns in years – but hedge funds saw a performance rebound in July, with aggregate performance hitting 1.89 per cent in July and 3.29 per cent year-to-date.
That’s according to the July 2016 eVestment Hedge Fund Performance Report. Of particular note, according to the report, was performance of event driven, activist and distressed funds, as well as funds focused on Brazil and China.
According to author Peter Laurelli (pictured), eVestment’s vice president and global head of research, in 2016 event driven funds have had more money
IP Trade, a provider of real-time communications and collaboration systems for trading floor environments and operations dispatch centres, is expanding its presence throughout Europe.
IP Trade is capitalising on recent growth across all business segments in the region, responding to industry consolidation and preparing for a major buying cycle as customers migrate from legacy platforms.
Jean-Francois Geys, chief executive of IP Trade, says: “We already have had significant customer wins in England, France, Ireland and Luxembourg, and with our increased focus in Europe, we expect 50 per cent revenue growth in the region in 2016. As a European company,
Intercontinental Exchange’s (ICE) Eris Euribor and GBP LIBOR interest rate futures reached a record monthly volume of 8,185 contracts in July, surpassing the previous monthly record of 1,719 contracts which was set in June 2016.
ICE Futures Europe launched Eris Euribor and GBP LIBOR interest rate futures contracts in June 2015. The ICE Eris GBP LIBOR future is the first Sterling denominated interest rate swap future to trade on-exchange and be centrally cleared. The contracts are based on the product design of the Eris Exchange’s US dollar-denominated standard and flex swap future contracts.
“We are pleased with the increasing levels of
The World Gold Council and the London Metal Exchange (LME), together with Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, OSTC and Societe Generale, are to introduce a suite of exchange-traded and centrally-cleared precious metals products.
The initiative has been driven by the need for greater market transparency, to support and aid ongoing regulatory change, provide additional robustness to the precious metals market, broaden market access, make trading more capital efficient and trade lifecycle management easier.
LMEprecious will be developed to accommodate the interests of the full range of market stakeholders and to reinforce the strengths of the London market.
Neuberger Berman has extended its high yield capabilities with the addition of a global high yield bond strategy.
The new Dublin-domiciled UCITS vehicle, the Neuberger Berman Global High Yield Bond Fund, will use the resources of the group’s USD37.6 billion high yield franchise – which spans the US, European and emerging market high yield sectors.
Patrick Flynn (pictured), an experienced portfolio manager on Neuberger Berman’s USD7.8 billion High Yield Bond Fund, will lead the new strategy – in collaboration with colleagues from the US high yield team and the managers behind the group’s European high yield bond strategy and
One of the biggest issues with risk when it comes to investing is that investors will invariably think about it in binary terms; what is the level of risk? Is it too high or too low? Of greater import, however, is understanding the composition of risk.
Given where the funds industry is today, as end investors’ return expectations increase they become increasingly limited in the type of risk that they can take. This has the unintended consequence of decreasing the efficiency of the overall portfolio as it becomes more and more concentrated in one type of risk.
The job of
Apex Fund Services has closed a USD40 million credit facility with global credit investment firm Highbridge Principal Strategies.
Peter Hughes (pictured), founder and chief executive officer, Apex Fund Services, says: “The completion of this investment further strengthens Apex’s ability to continue its expansion on a global scale. I am delighted that a well established investment firm recognises an opportunity in the business and has confidence investing in our brand and supporting us in our future development. This investment helps further solidify the Apex group’s position as one of the world’s leading independent fund administrator as we continue to increase our
Barclays Prime Services Strategic Consulting has just completed its latest report entitled ‘Against All Odds – Hedge Fund Industry Developments and Implications for Growth’.
The report finds that although hedge funds have produced considerable excess returns since 1993, such levels have by and large plateaued since 2011, which may be at least partially due to managers’ reducing their risk appetite.
However, survey respondents indicated that they believe the size of the industry and macro conditions are more likely the reasons for recent hedge fund underperformance. The study finds that the industry, across various strategies, has achieved a CAGR over
Hedge funds posted gains for the fifth consecutive month in July, the longest positive streak since 2013, driven by equity hedge and event-driven strategies, as equity and credit markets recovered Brexit losses.
The HFRI Fund Weighted Composite Index (FWC) advanced 1.7 per cent for the month, increasing the index value to 12,644.12 and bringing the YTD gain for the FWC to +3.0 per cent, according to HFR.
All four main strategy indices were positive for July as gold surged, equities extended their recovery, and bond yields declined on a combination of moderation in global growth forecasts, as well as
Societe Generale Prime Services reports that CTAs continued their good performance from June with all CTA indices posting positive returns in July.
The SG Trend index, measuring the performance of the largest ten trend-following based CTAs, was the best performing index for July but year to date still remains behind the CTA Index, which is a broader measure of the largest 20 CTAs, with a year to date return of 5.53 per cent.
Short term traders, despite posting the lowest monthly returns amongst the indices in July, are still leading performance year to date, with a year to date
