Funds
Fundraising for private infrastructure funds has remained strong in 2014 to date, with the 14 funds closing on an aggregate USD8.5bn in Q3 2014 bringing the total raised throughout the year to USD27bn, a small increase on the USD23bn raised over the same period last year. However, capital is further concentrated among a smaller selection of managers, with the number of funds to close falling. Just 28 funds have closed in the first three quarters of this year, compared to 41 in the same period in 2013.
Please click here to download the Preqin Quarterly Update: Infrastructure, Q3 2014
The third quarter of 2014 saw 199 private equity funds reach a final close, raising USD80bn in aggregate capital, representing 21% fewer vehicles and a significant 44% decrease in capital commitments compared to the previous quarter. However, the relatively low number of funds means that the average fund size of USD402m is particularly high. Investors seem to be more inclined to commit capital to the larger, more established private equity fund managers, and these statistics serve as evidence of continuation of the trend seen in the fundraising market last year.
Please click here to download the Preqin Quarterly Update: Private Equity,
Hedge funds experienced outflows in September for the first month since December 2013, according to the eVestment September and Q3 2014 Hedge Fund Asset Flows Report.
Performance losses caused the industry’s first quarterly asset reduction in Q3 since Q2 2012.
Redemptions in September were likely the result of losses in July. The impact of September’s losses may become evident in the next two to three months.
The most noticeable deviation from recent trends in September came in the form of investor redemptions from equity-focused strategies. The universe last experience outflows in June 2013.
Event driven funds, which
Carey Olsen's financial and corporate and investment funds work in the Channel Islands, the Cayman Islands and the British Virgin Islands has been recognised in the 2015 International Financial Law Review 1000 (IFLR1000) guide.
The new results come just after the firm gained tier 1 rankings across all of its Channel Island practice areas in The UK Legal 500.
The IFLR1000 is a guide to the world’s leading financial law firms and is based on independent research which includes interviews with the featured firms, client and competitor feedback and market analysis from the past 12 months.
For the
Gottex Fund Management is on track to launch its first UCITS RQFII China product during the first quarter of 2015, according to the group’s latest trading statement for the quarter ended 30 September 2014.
The product will invest in onshore China A-shares and be managed by the Gottex-VStone office in Shanghai. The company also expects to launch liquid alternatives risk premia products and investment solutions during the next six months.
Gottex launched an Asian hedge fund seeding fund in August with USD310 million of committed capital by the group’s partner HS Group in Hong Kong.
Client assets at
Andy Brunner, investment strategist at Morningstar OBSR, says US equities area facing a number of challenges…
The US is leading a modest rebound in the global economy which most commentators expect to continue through next year. Despite this, a period of higher volatility seems likely as US equities face a number of challenges, not least being they are fairly fully valued, and have avoided a correction for several years.
Another key challenge now facing the US equity market is the end of QE, with investors rightly concerned about the Fed’s campaign to normalise interest rates and the consequent impact on
International investors can now access Franklin Templeton’s first multi-manager, multi-strategy Luxembourg-registered SICAV fund focused on alternative investment strategies.
The Franklin K2 Alternative Strategies Fund SICAV, which was soft-launched a month ago, will follow the same strategy as the US-registered Franklin K2 Alternative Strategies Funds.
Building upon Franklin Templeton’s acquisition of hedge fund solutions provider K2 Advisors in 2012, the fund provides access to a diversified portfolio of alternative investment strategies managed by institutional-quality hedge fund managers. It seeks to provide investors with lower correlations to traditional asset classes, reduced portfolio volatility and attractive risk-adjusted returns, while offering daily liquidity.
Hang Seng Indexes Company and Markit have launched the Hang Seng Markit iBoxx Offshore RMB Bond Index family (HSM iBoxx).
The bond index series will track the performance of offshore renminbi (RMB) sovereign and corporate debt using an enhanced methodology for the treatment of unrated bonds alongside comprehensive breakdowns by bond tenor and rating.
The HSM iBoxx is built on the iBoxx principles of transparency, independence, open access and multi-sourced pricing. The methodology reflects specific characteristics of the offshore RMB bond market based on feedback from more than 15 asset managers and banks. Key features of the index family
Hong Kong-based asset manager Value Partners announced this week that it was launching its first Renminbi Qualified Foreign Institutional Investor (RQFII) product – Value Partners China A-Share Select Fund.
Authorised by Hong Kong’s Securities and Futures Commission for public offering, the fund, which launched on 16 October, offers investors a direct and broad exposure to the Mainland’s stock market.
Value Partners was granted its first batch of RQFII quota of RMB800 million in October 2013, which will be applied to the fund. In April 2014, it obtained a new round of quota of RMB500 million.
With the upcoming
The third quarter of 2014 was the best quarter for Commodity Trading Advisor (CTA) funds since Q4 2010, according to Preqin, and CTAs have now delivered six months of positive gains for the first time since 2008/09.
Preqin’s Q3 2014 Hedge Fund Quarterly Update report reveals that CTA returns of 5.52% in Q3 on top of 1.60% in Q2 have sent the benchmark to 2014 year-to-date returns of 7.13%.
The recent strong performance posted by CTAs though contrasts with poor performance delivered by long/short and event driven hedge funds, mirroring trends seen in Q2 2012 and Q3 2011.
According to the report,
