Funds
The hedge fund industry produced an aggregate return of -2.19 per cent in August, dropping YTD returns into negative territory, -0.95 per cent, according to eVestment’s latest Hedge Fund Performance report.
All major market exposure produced negative returns during the month, however most outperformed asset class benchmarks.
Origination & financing strategies, hedge funds that act as lenders (varieties of ABL) or loan originators, produced an aggregate decline in August, but outperformed all other major strategies not only during the month, but year-to-date as well. Gains and losses for the group were distributed evenly across the universe, however those posting
The London Metal Exchange (LME) has received independent confirmation that the LBMA Platinum and LBMA Palladium Prices it administers comply with the Principles for Financial Benchmarks published by the International Organization of Securities Commissions (IOSCO).
The LME engaged Ernst & Young LLP earlier this year to examine the exchange’s price-discovery process for the platinum group metals. After a comprehensive review, Ernst & Young has issued its opinion affirming the suitability of the LME’s governance process and the effectiveness of its controls, as of 30 June 2015.
“The LME fully supports regulatory efforts to promote transparency, systemic stability and better
Touchstone Investments has launched the Touchstone Credit Opportunities Fund in an effort to take advantage of market inefficiencies and relative value opportunities in the global fixed-income market. Ares Capital Management II will sub-advise the Fund.
"We are thrilled to include this dynamic portfolio in our fund family and to have the deeply experienced Ares Management team managing the Fund," says Steven M Graziano (pictured), President of Touchstone Investments. "As market conditions continue to evolve, we see significant opportunities in the credit markets with many securities poised to benefit from capital appreciation and income generation."
Touchstone incorporates a sub-advisor model
The Lyxor Hedge Fund Index was down -2.7% in August. One out of 12 Lyxor Indices ended the month in positive territory. The Lyxor Convertible Arbitrage Index (+3.3%), the Lyxor L/S Equity Variable Bias Index (-0.7%), and the Lyxor L/S Equity Market Neutral Index (-1.1%) were the best performers.
The deflation and growth scares, which built up over the summer, accelerated following the CNY devaluation. They morphed into a vicious cycle in the last week of August. With volatility reaching 55 and equities plunging by the hour, Monday 24 will from now on count among the major stress episodes used as
361 Capital, a boutique asset manager offering institutional-quality alternative mutual funds, has held the soft close of the 361 Capital Managed Futures Strategy Fund.
The fund, which employs a distinct counter-trend approach in the pursuit of attractive risk-adjusted returns that exhibit low correlations to traditional stock and bond investments, will be closed to new investors beginning 30 September, 2015.
"Since our founding in 2001, we've endeavoured to be excellent stewards of our clients' capital," says Tom Florence (pictured), President and Chief Executive Officer of 361 Capital. "With that in mind, we've put forth great effort into measuring the capacity
Total hedge fund assets increased 0.35 per cent in July 2015, bringing the industry’s total assets under management to USD3.133 trillion, according to eVestment’s latest Hedge Fund Asset Flows report.
Investors withdrew an estimated USD5.0 billion from the industry in July, while performance increased AUM by an estimated USD16.1 billion.
With July’s USD5.0 billion outflow, investors have added an estimated USD64.3 billion into hedge funds in 2015 through July. This compares to USD102.1 billion through July of 2014, however investors redeemed nearly USD14 billion in the final five months last year.
Redemptions from event driven strategies in July
Environmental Financial Products (EFP) and CBOE Holdings are to launch the American Financial Exchange (AFX), an electronic marketplace for small and mid-sized banks to lend and borrow short-term funds.
EFP is a prominent, successful exchange incubator headed by Dr Richard Sandor, universally recognised as the "father of financial futures." CBOE is the creator of the listed options market and numerous other market and product innovations, including securities index options and the CBOE Volatility Index (VIX Index).
AFX was designed to bring the benefits of exchange trading, including standardisation, transparency and a rules-based process, to interbank lending, while substantially reducing transaction
McQuilling has formed a strategic alliance between McQ Holdings and JonesTrading Capital Markets Group. This relationship will provide a broad capital markets platform to the transportation industry.
Headquartered in New York, both McQ Holdings and JonesTrading will utilise their collective global reach of over 30 combined offices to provide capital solutions including: Public market traditional equity and debt transactions, At The Market Issuance programs (ATM’s), and structured transactions. The Group will also focus on providing select Private transactions and Private Equity blocks.
John Schmidt (pictured), President and CEO of McQuilling Partners, says: “Capital markets exposure has been a long-term
BATS Options has announced the BATS Options Advisory Board, comprised of options industry thought leaders designed to advise the BATS Options leadership team on key industry issues.
The BATS Options Advisory Board, which will meet on a quarterly basis, consists of the following members:
• Kurt Eckert, Wolverine
• Sean Flynn, Interactive Brokers Group
• Todd Hohman, Goldman Sachs
• Mike Juneman, Citadel Securities
• Todd Lard, Charles Schwab
• Joseph Sellitto, Global Execution Brokers, LP
• Jonathan Werts, BofA Merrill Lynch
• Slade Winchester, Citi
“As BATS Options grows and expands its footprint, it’s critical to bring
All six of the indices in IndexIQ’s proprietary family of hedge fund replication and alternative beta indexes recorded negative performance in August.
The month’s biggest loser was the IQ Hedge Long/Short Index which was down 3.95 per cent, followed by the IQ Hedge Event Driven Index (-1.98 per cent), the IQ Hedge Global Macro Index (-1.95 per cent) and the IQ Hedge Multi-Strategy Index (-1.50 per cent).
The IQ Merger Arbitrage Index recorded the smallest loss for the month at -0.17 per cent per cent, while the The IQ Hedge Market Neutral Index was down -0.58%.
Designed as
