Funds
Gottex Fund Management is gearing up to launch its first UCITS product under the popular RQFII program that gives global asset managers access to China’s equity markets. The fund is scheduled to launch in the first quarter of 2015 according to the firm’s latest trading statement. It will invest in China’s A-shares market and will be managed by the Gottex-VStone Asset Management office in Shanghai. Gottex moved to establish a joint venture with VStone last year.
The firm currently has USD8.71bn of client assets as at 30 September. On the same day it completed its merger with the EIM Group
Assets under management of Luxembourg domiciled funds reached EUR3,006.76 billion at the end of September 2014.
This represents a 14.97 per cent increase since the beginning of this year and is mainly due to net sales.
Marc Saluzzi, chairman of the Association of the Luxembourg Funds Industry (ALFI), says: “Assets under management have steadily increased since September 2013, and whilst with volatile markets assets under management actually may drop, it is encouraging both that investors have confidence in investment funds generally and that fund promoters continue to choose Luxembourg as a domicile.
“Luxembourg remains the most prominent international
Lombard Odier Investment Managers (LOIM) has built a long/short strategy across asset classes aimed at improving risk-adjusted returns with a low correlation to traditional investments.
LO Funds – Alternative Risk Premia, a long/short fund, is designed to help in today’s environment of declining markets and uncertain prospects, where investors find the search for returns increasingly hard. Investors also need liquidity and cost-efficiency from their portfolios and know that exposure to traditional asset classes may correlate just when they need to be diversified.
By applying an Alternative Risk Premia approach with the ability to go systematically long and short, LOIM
Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley have maintained their positions as the leading brokers of flow equity derivatives to North American institutional investors.
In Europe, where the flow equity derivatives field is more crowded, Deutsche Bank, Morgan Stanley and JP Morgan have established strong platforms across products.
Winning trading relationships with institutions in options, swaps, futures, ETFs, and other flow equity derivatives is critical to broker-dealer success. Investors use far fewer brokers in these products than in cash equities or fixed income. Institutions typically use only six or seven counterparties for equity derivatives trades and broker-dealer
Total assets in hedge funds decreased 1.5 per cent in September to USD3.012 trillion, according to the latest Hedge Fund Asset Flows report from eVestment.
Performance accounted for the majority of the USD46.7 billion decline, but investor redemptions outpaced new allocations causing an outflow of USD6.9 billion during the month.
Total industry assets declined in Q3 2014 for the first time since Q2 2012. Performance reduced AUM by USD30.3 billion, the equivalent of an asset-weighted return of -1.0 per cent. Flows were positive in the quarter as USD9.6 billion was added to the industry.
The most noticeable deviation
Hong Kong Exchanges and Clearing (HKEx) and China Merchants Group (CMG) have signed a memorandum of understanding (MOU) for a strategic alliance in product development and related services.
The signing ceremony was held in London in the presence of HKEx co-head of global markets Romnesh Lamba; LME chairman Sir Brian Bender; Dr Yu Liming, executive vice president of CMG; Charles Feng, general manager of the business development department of CMG; CMS chairman Gong Shaolin; and CMS CEO Wang Yan. Other senior representatives from HKEx Group and CMG companies also participated in the ceremony.
“This MOU is an important step
BH Macro Ltd, a Guernsey-registered, London-listed investment company which acts as a feeder fund for the Brevan Howard Master Fund, gained 4.5% in September, reversing poor performance in the first half of the year.
BH Macro Ltd has not had a down year to date (returning around 20% in 2007, 2008 and 2009), and has returned 134.25% since inception in 2007.
The fund has also out-performed the FTSE All-Share by 11.5% per year since launch, returning an average of 12.5% p/a. The FTSE All-share returned just 1% per year over same time period.
Preqin looks at the performance of hedge funds in Q3 2014 and in 2014 so far.
Please click here to download Preqin's Hedge Fund Performance Update: Q3 2014
Preqin provides the most up-to-date hedge fund performance benchmarks.
Click here to download Preqin's Hedge Fund Performance Benchmarks: Q3 2014
Despite a slight fall in fundraising in Q3 2014 compared to the previous quarter, the total capital raised in 2014 so far remains strong, with the USD63bn raised in the first three quarters of the year surpassing the USD56bn raised during the same period last year. However, the number of funds reaching a final close has declined from 166 to 121 over this time period, and almost two-thirds of capital raised by funds holding a close in Q3 came from just five firms, suggesting that capital is increasingly concentrated among fewer managers.
Please click here to download the Preqin Quarterly Update:
