Funds
LCH.Clearnet is now offering inflation swap clearing through its SwapClear service allowing market participants trading UK, European, and US inflation-linked products to benefit from the efficiencies and enhanced risk management associated with central clearing.
Trading in inflation-linked swaps is popular among asset managers and pension funds looking to guard against rises in inflation and interest rates. Firms opting to clear inflation swaps through SwapClear are able to offset their margin requirements with correlating interest rate derivatives cleared at LCH.Clearnet.
Nathan Ondyak, Head of Products and Markets, SwapClear, LCH.Clearnet, says: “After thorough risk reviews and testing, we are proud to
Hedge funds continue to climb higher, with the Lyxor HFI up 3.5% ytd (up to 24 March). The asset class was supported this week by L/S Equity, and in particular Asian managers that have done particularly well. Their successful stock-picking captured the buoyant market environment on the long book without losing much on the short book. Over the recent months, we have been advocating the benefits of Asian L/S managers for diversification purposes and continue to do so.
Man GLG, the discretionary investment management business of Man Group has launched a new UCITS compliant fund, Man GLG European Mid-Cap Equity Alternative fund.
The Fund will be domiciled in Ireland and managed by GLG Partners LP. The portfolio manager is Moni Sternbach, who joined Man GLG from Cheyne Capital in January 2015. It will seek to provide attractive risk-adjusted returns through both long and short investments primarily in European securities with a market capitalisation of EUR500m to EUR10bn.
Moni Sternbach, a mid-cap specialist, joined Man GLG after almost three years as lead manager of the Cheyne European Mid
Although the MSCI World index declined 1.8 per cent in March, the real story was about equity dispersion, currencies and central bank policy, according to Anthony Lawler, portfolio manager at GAM.
In equities, dispersion of returns by geography continued in March, with equities rallying in China, Europe and Japan while selling off in the US.
In currencies, the US dollar continued its climb though the month, with the Dollar index (DXY) up over 3 per cent for the month and now up 9 per cent year-to-date. These equity and currency moves were largely explained by the differing paths of
The capacity conundrum continues to be one of debate and it has become increasingly apparent that it is not solved simply by the provision of an arbitrary headline number or cap. Geoff Ruddick (pictured) takes a look at the key things to consider when assessing the capacity of an independent director…
There has been an extraordinary focus on ‘numbers’ and ‘caps’ in the last few years in reference to a director’s ‘capacity’ to fulfill his or her fiduciary duties. In many respects, an arbitrary number or cap has become analogous, and arguably in some cases the sole identifying factor, of determining
March 2015 volume at CME Group averaged 13.7 million contracts per day, down three per cent from March 2014. Total volume for March 2015 was 302 million contracts, of which 88 per cent was traded electronically.
Options volume in March averaged 2.6 million contracts per day, up two per cent versus March 2014, with electronic options growing 12 per cent over the same period.
CME Group interest rate volume averaged 6.5 million contracts per day in March 2015, down eight per cent compared with March 2014. Eurodollar futures volume averaged 2.6 million contracts per day, down six per cent from
Neuberger Berman has launched the Neuberger Berman Multi-Asset Income Fund, which seeks to provide current income and capital appreciation by investing across a diverse range of global, income-producing asset classes.
The fund, managed by Neuberger Berman's experienced Multi-Asset Class investment team, will provide exposure to US investment grade and high yield debt, international fixed income and emerging markets debt, US and international equities, MLPs and REITs. The Fund's investment team employs a distinct asset allocation and risk management approach and leverages the firm's security selection expertise. The Fund will be managed to a 60% Barclays US Aggregate Bond Index /
The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished up 0.29% in March.
The Managed Futures strategy was the strongest performer, finishing up 4.28% in March, and remained the highest performer year-to-date, up 11.35%.
Two of the six sub indices recorded negative performance for the month with the Credit Suisse Event Driven Liquid Index and the Credit Suisse Merger Arbitrage Liquid Index finishing at -1.29% and -0.85% respectively.
CBOE Futures Exchange (CFE) has reported a month-on-month increase in March in average daily volume (ADV) and monthly total volume, both exchange-wide at CFE and for futures on the CBOE Volatility Index.
Both totals though, are down from level achieved a year ago.
March average daily volume in VIX futures was 167,591 contracts, an increase of one per cent from February 2015 and a decrease of nine percent from March 2014. Total volume in VIX futures for March was 3.7 million contracts, up 17 per cent from the previous month and down four per cent from a year ago.
JP Morgan Asset Management Global Real Assets (GRA) has launched Tactical Direct Investments (TDI), a dedicated cross-real assets group.
Under the leadership of Avik Mukhopadhyay, Head of Global Real Assets Tactical Direct Investments, the TDI team will help clients access new opportunities by leveraging the global investment capabilities of the USD82 billion in AUM GRA platform and GRA's long and successful track record of direct investing. GRA currently manages or advises more than USD17 billion of direct and co-investment transactions globally on behalf of clients.
"Institutional investors are increasingly seeking to complement their real asset fund holdings with direct investments.
