Funds
Chicago Board Options Exchange (CBOE) has launched four new benchmark indexes in collaboration with Eurekahedge. Values for the new indexes will be available on CBOE's and Eurekahedge's websites beginning August 18.
The four new indexes, the first of their kind, were created to meet the demands of institutional hedge fund investors seeking benchmarks that measure the performance of distinct volatility-based strategies.
Hedge funds that invest in volatility-based strategies differ dramatically from one another and often have exposures on completely opposite ends of the volatility spectrum – some funds may be net long volatility, some net short and others neutral. CBOE
SS&C Technologies Holdings has acquired Citigroup's Alternative Investor Services business, which includes Hedge Fund Services and Private Equity Fund Services, for USD425 million, subject to certain adjustments.
"This acquisition is solidly in line with SS&C's strategy of combining organic growth with select, high quality acquisitions. Citi Alternative Investor Services clients can be assured of SS&C's commitment to continue to serve them with world class people, process and technology. We are excited about adding these talented employees and look forward to the ideas and passion they will bring to our organisation,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C
The business of asset management has grown exponentially more complex over the last decade. As system technology and data management improves, managers are devising ever-new investment strategies to find that elusive source of alpha.
Bank loan funds, direct lending funds, liquid alternatives, separately managed accounts that offer institutional investors sub-sets of a manager’s equity long/short strategy for example; all are bubbling away in a heady alchemical mix. This is putting an incredible strain on the operational model; one that no longer holds water compared to a decade again when the product universe was simple and managers operated free of regulation.
Convertible bonds were prominent among the 203 newly listed securities on the Channel Islands Securities Exchange (CISE) during the first half of 2015.
The number of new listings is up 14.7 per cent on the same time last year and takes the total number of listed securities on the CISE to 2226 at the end of June 2015.
Fiona Le Poidevin (pictured), Chief Executive Officer of the CISE, says: “It has been a strong start to the year for the CISE and it is especially encouraging that we have developed a new pipeline of business in convertible bonds.
Managed futures traders gained 0.87 per cent in July according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.48 per cent year to date.
“A rally in the value of the US Dollar sparked by the expectation of imminent Fed tightening, coupled with fears of China joining Japan and the Eurozone on the loosening bandwagon generated gains for CTAs," says Sol Waksman (pictured), founder and president of BarclayHedge.
“Short commodity positions also contributed sizeable gains as the S&P GSCI plunged 14.3 pe rcent fuelled by the rising US Dollar, slowing demand from China, and too much
Robert Zable is to become the lead portfolio manager of the Blackstone/GSO Senior Floating Rate Term Fund (NYSE: BSL), the Blackstone/GSO Long-Short Credit Income Fund (NYSE: BGX) and the Blackstone/GSO Strategic Credit Fund (NYSE: BGBeach Fund).
Zable will takeover following the retirement of the funds’ current lead portfolio manager, Lee Shaiman, on or before 30 September, 2015.
Zable is a Managing Director with GSO Capital Partners LP (GSO), the parent company of GSO/Blackstone Debt Funds Management LLC (GSO DFM), the Funds’ investment adviser, and serves as the Chairman of GSO DFM’s investment committee. Zable is also the senior portfolio manager
With its rich industrial heritage, large urban centres and sizeable working population, the Midwest region is a major contributor to US GDP. Preqin presents an overview of the private equity industry in this business hub, which you can download for free.
Read the full factsheet here, which contains key charts, tables and information on the private equity industry in the Midwest US.
Guernsey offers a flexible choice of business vehicles for structuring funds and associated management and special purpose vehicles. Appleby’s Kate Storey (pictured) takes a closer look at the options.
The types of investment vehicle most often encountered in Guernsey are closed ended or open ended companies and unit trusts and closed ended limited partnerships. Additionally, Guernsey recently introduced its form of limited liability partnership, which has already proved popular as a vehicle to house fund managers and general partners (including of non-Guernsey funds).
TYPES OF VEHICLE
1. Company
The Guernsey limited liability company provides investors with limited liability to the amount
Fundraising – Preqin’s Real Estate Online features in-depth information on 21
Global macro hedge funds appear to be maintaining a contrarian stance versus the market when it comes to positioning on government rates.
In recent weeks, managers have secured gains by taking long positions in the US and Europe thanks to a global decrease in both short- and long-term rates in fixed income markets. In the middle of July, US 10-year Treasuries were yielding 2.45 per cent, since when they have fallen to 2.16 per cent (at the time of writing). Lower yields arise when economies aren’t firing on all cylinders. Whilst the US economy has shown signs of improvement, the
