Funds
Six out seven of Index IQ’s proprietary family of hedge fund replication and alternative beta indexes recorded positive performance in November.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge benchmark indexes were originally introduced on March 30, 2007, and have been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.
THE IQ Hedge Market Neutral BetaI led the way with a return of 1.30%, followed by The IQ Hedge Long/Short Beta Index (1.13%), the IQ Hedge Event-Driven Beta
Trading volume for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE) totalled 85.57 million contracts in November.
Average daily volume (ADV) was 4.50 million contracts, a two-per cent decrease from November 2013 and a 36-per cent decrease from October 2014, the busiest month ever in CBOE Holdings' history.
ADV through November is up 11 per cent from the same period one year ago. With one month remaining in 2014, CBOE Holdings year-to-date volume has already matched 2011's record annual volume of 1.21 billion contracts.
CBOE's November volume
Canada’s derivatives markets are appealing to a broad range of domestic and international investors, with growing interest in using the country’s futures and options markets to generate income, make directional plays and manage risk exposures for fixed income and equity portfolios.
Although stagnant volatility and economic weakness in Canada’s natural resource and commodity sectors has caused trading in equity options to decline in recent years, Andy Nybo, a TABB principal, head of derivatives and author of new research, “Canadian Derivatives Markets: Co-Existing in the Shadow of a Giant,” says the reverse is true for their futures markets, benefiting from rising
All six of of Market Vectors Index Solutions’ investable Long/Short Equity Indices, reported positive performance in November.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Western Europe Long/Short Equity Index led the way with a return of 2.55% followed by the Market Vectors Global Long/Short Equity Index (1.08%), the Market Vectors Global Event Long/Short Equity Index (0.64%) and the
Market Vectors North America Long/Short Equity Index (0.56%).
The Market Vectors Emerging Markets Long/Short Equity Index produced a return of 0.24%,
Financial services software provider SS&C Technologies Holdings has acquired DST Global Solutions Ltd, a subsidiary of DST Systems, Inc, for USD95 million in cash.
DST Global’s products now owned by SS&C include industry-leading investment and fund accounting platform, HiPortfolio, and investment data management and analytics platform, Anova. SS&C financed a USD75 million portion of the purchase price by drawing down on its line of credit.
With more than 155 customers throughout the Americas, EMEA, and Asia-Pacific, the DST Global products complement SS&C’s existing portfolio of technology capabilities and service offerings. The acquisition further solidifies SS&C’s position as the leading
With interest rates and credit spreads near historic lows and equity valuation above historical averages, many people are concerned that the Federal Reserve, by artificially keeping rates low, has created a 2007 type asset bubble in the capital markets where many securities are priced to perfection.
What happens to the financial markets when the Fed begins to raise interest rates or there is some other economic shock to the financial system, and what impact will this have on the hedge fund industry? We recently saw a glimpse of this from mid-September to mid-October when we experienced a slight tremor in
NewSmith has launched the NewSmith European Fund, a UCITS long-short equity fund for UK and European investors.
The fund will be managed by Jean Maigrot, European Equity Investment Leader at NewSmith. Jean has 28 years’ experience of trading European equities, and was previously head of trading teams at Salomon Brothers (1992-1996), HVB (1998-2001) and ABN Amro (2002-2007). He joined NewSmith in 2007.
The fund’s investment strategy is equity long/short focusing on large cap European stocks. It will follow the same strategy as NewSmith’s offshore long/short equity fund which has a strong seven year track record, posting 29% net returns
An exemption which will enable Jersey-regulated fund managers to be appointed in relation to managed accounts has now been introduced.
According to law firm Ogier, this will enable hedge fund managers that are already regulated under the Financial Services (Jersey) Law (FS Law) in Jersey to carry out fund services business (FSB) to also service qualifying segregated managed accounts (QSMAs) without the need to seek additional regulation for the conduct of investment business under the FS Law.
This responds to a continuing growth in the number of Jersey-based hedge fund managers. As well as simplifying the regulatory position this
Euronext is to launch a dairy derivatives complex in spring 2015, covering the three key dairy products currently traded in Europe and internationally: butter; skimmed milk powder; and whey powder.
The full suite of futures and options will allow the European dairy community to hedge its exposure to price fluctuations in this volatile market, just as the milk quotas expire in the European market. This launch is subject to relevant regulatory review.
The European market is the world leader in dairy production and the second largest exporter of dairy products worldwide. On 31 March 2015, milk quotas, originally initiated
The London Metal Exchange (LME) has approved China Merchants Securities (UK) Limited (CMS) for category 2, associate broker clearing membership.
CMS has also been approved as a member of LME Clear, the LME’s new clearing house.
“We welcome CMS to the LME and look forward to extending our user base further in the Asia region,” says Garry Jones, chief executive of the LME.
“LME Clear is delighted to approve CMS as a new member as we further strengthen our presence in the global clearing space,” says Trevor Spanner, LME Clear chief executive.
CMS is the LME’s third Chinese-owned clearing member.
