Funds
Behringer Securities is to distribute the Insignia Macro Fund, a daily-liquidity, open-end mutual fund managed by Meritage Capital.
The Fund, launched in 2013, seeks long-term risk-adjusted returns by employing global macro-managed futures investment strategies. The Fund is unique from other liquid alternative macro offerings primarily because of its allocation to discretionary focused managers.
"Historically, global macro strategies have shown higher long-term returns with lower volatility than developed equity markets – and little correlation to stocks, bonds or other investments," says Alex Smith, CEO of Meritage Capital. "We are pleased that the Fund will be distributed on Behringer Securities' platform,
Holland Clearing House is to be renamed ICE Clear Netherlands, effective 27 July, 2015 following its acquisition by ICE in December 2014. ABN AMRO Clearing Bank holds a minority stake.
ICE Clear Netherlands is focused on providing a reliable service against transparent and predictable pricing, using robust risk management systems. The Dutch clearing house provides central counterparty clearing (CCP) services for a range of equity and index derivatives contracts listed on TOM (The Order Machine), a Multilateral Trading Facility (MTF) based in the Netherlands.
ICE operates seven clearing houses across North America, Europe and Asia to meet the requirements
Last week London ground to a halt. Tube drivers went on strike for 24 hours. Chaos ensued as city workers jumped on their bikes, hailed cabs or, worse, squeezed onto the next available bus to get to the office.
It is perhaps fitting, therefore, that just days before the strike Hedgeweek went to visit Murano Systems, a company who likes to think of itself as a matchmaker for hedge funds and institutional investors. Like London, the hedge fund industry, which now boasts anywhere up to 14,000 hedge funds, has bottlenecked into one almighty traffic jam.
Murano exists to help allocators
Beechbrook Capital, the specialist direct lender, is launching a new fund to support UK small and medium-sized businesses turning over between GBP5 million and GBP50 million.
The Beechbrook UK SME programme represents a significant addition to the private credit sector which has hitherto been dominated by debt funds competing to finance larger buyouts. Beechbrook is looking to raise between GBP100 million and GBP200 million with a first close planned for October 2015. The fund will target mainly senior secured loans in non-private equity backed UK companies.
The fund builds on the existing funds of Beechbrook, which invest in private
Data management platform provider Accudelta has launched a new regulatory reporting solution called ‘Runway to Regulation’, designed to help asset managers keep up with changing regulation requirements.
The new solution is part of a service upgrade which saw the MoneyMate platform formerly known as ‘Fund ProductMaster’ being rebranded as ‘Accudelta’. The upgrade also saw a reduction in deployment time and a revised pricing structure offering greater access to asset managers of all sizes.
The new ‘Runway to Regulation’ solution is a four step process which provides asset managers and their consultants with a platform for effective data management and
In an extract from the Preqin Quarterly Update: Real Estate, Q2 2015, we investigate private real estate funds currently seeking investor commitments, featuring the latest data.
The number and aggregate target capital of closed-end private real estate funds in market has remained relatively consistent during Q2, with 417 vehicles looking to raise USD149bn as of July 2015 (Fig 1). The majority of funds in market are focused primarily on North America (56 per cent), with the region also representing 58 per cent of the total targeted capital (Fig 2). The number of funds focused on regions outside North America,
Private equity fundraising is analyzed in this extract from the Preqin Quarterly Update: Private Equity, Q2 2015, featuring the latest data and breakdowns by fund strategy and geographic focus.
Following the typical drop-off in the number of funds closed from Q4 to Q1, Preqin’s Q2 2015 data shows a levelling off of vehicles reaching final close, with 243 funds closed during the quarter (Fig 1). However, there has been a continued dip in capital raised, with USD113bn secured by funds closed in Q2 2015, down from 241 funds securing USD129bn in Q1 2015.
In line with the trend observed
Managed futures traders lost 1.71 per cent in June according to the Barclay CTA Index compiled by BarclayHedge. The Index remains up 0.05 per cent year to date.
“Trend reversals in equities, energy, and the US Dollar resulted in losses for 72 percent of the funds that have reported a June return as of today,” says Sol Waksman, founder and president of BarclayHedge.
Seven of Barclay’s eight CTA indices had losses in June. The Diversified Traders Index dropped 2.48 per cent, Systematic Traders lost 2.07 per cent, Financial/Metals Traders were down 0.99 per cent, and Currency Traders gave up
The hedge fund industry has posted average returns of -0.75 per cent for June, the first month this year of negative performance. Despite this, the benchmark has still returned 4.50 per cent year-to-date.
Single-manager hedge funds were not the only fund structures which fared poorly in June; UCITS posted returns of -1.76 per cent, and CTAs made losses of – 2.66 per cent, their worst monthly performance since July 2008. The only leading strategy with positive performance for the month was relative value, which posted a return of 0.17 per cent. Relative value strategy funds have seen only two months
Hedge funds produced an aggregate return of -0.93 per cent in June, just over 100 basis points ahead of the S&P 500 which fell -1.94 per cent during the month. according to eVestment’s latest Hedge Fund Industry Performance Summary.
The industry’s Q2 2015 return of +0.65 per cent also outperformed the S&P (+0.28 per cent) and a balanced index of 60 per cent MSCI World/40 per cent Citi WGBI (-0.42 per cent).
June proved another difficult month for managed futures hedge funds. The strategy declined an additional -2.64 per cent during the month, the universe’s third consecutive monthly decline.
