Managers
Despite hedge funds returning 7.40 per cent over 2016, investors continued to withdraw capital over the year, with the industry seeing overall net asset outflows totalling USD110 billion in 2016.
Preqin’s latest research finds that the rate of redemptions accelerated through the year, from net outflows of USD14 billion in Q1 to USD43 billion in Q4 2016. Every leading hedge fund strategy recorded net outflows for the year: by contrast, CTAs recorded annual net inflows of USD26 billion despite lacklustre performance. Although there have been widespread redemptions across the industry, there is a clear link between past performance and recent
Heptagon Capital has launched three new UCITS funds for US-based managers via it’s USD2 billion Irish UCITS fund company. This takes to 11 the total number of strategies now available to UCITS fund investors.
December manager launches resulted in a raise of USD145 million for the Emerging Market Equity strategy managed by Driehaus Capital Management in Chicago. In addition, USD25 million was raised for the Driehaus US Micro Cap Equity strategy, which has outperformed in 18 of its 20 years of existence, and whose composite is the top-performing US equity strategy of any style in the eVestment All US Equity
Australia-based litigation funder IMF Bentham, on behalf of its US affiliate Bentham IMF, has launched a USD200 million vehicle expressly to back its growing US portfolio.
This is the parent company’s first formal investment vehicle and will be used exclusively to finance its US cases and investments. Bentham’s unnamed partner, affiliated with a prominent hedge fund, is committing USD150 million while IMF Bentham will commit up to USD50 million.
Since launching US operations in 2011, Bentham has made 45 separate investments in American litigation matters, concluding 14 of those with an average internal rate of return of 83 per cent
Dyal Capital Partners (Dyal), a division of Neuberger Berman Group, has closed Dyal Capital Partners III (PE), its third fund, with approximately USD5.3 billion of committed capital.
Dyal increased the target fund size by over USD2.0 billion during the marketing period, as investment opportunities increased and investor interest in the strategy was strong. The fund was heavily oversubscribed at the final close.
Aggregate commitments across all Dyal funds now total more than USD8.7 billion from 160 unique global investors, solidifying Dyal's position as the leading provider of minority equity capital to well-established private equity and hedge fund management companies. Dyal
Semper Capital Management’s Semper MBS Total Return Fund (the Fund) has reached USD700 Million AUM less than four months after reaching USD500 million AUM in October 2016.
In August 2016, the Fund crossed its 3-year mark and received a 5-Star Overall Morningstar Rating (out of 235 non-traditional bond funds as of January 31, 2017). The institutional share class (SEMMX) and the investor share class (SEMPX) each received a 5-Star Overall Morningstar Rating.
"From a fundamental standpoint, the sector's credit underpinnings continue to strengthen," explains Greg Parsons (pictured), CEO and Investment Committee Chair of Semper Capital. "We continue to remain confident in the market's ability
One of the most potentially intriguing panel discussions at this year’s Amsterdam Investor Forum could be “The fund industry in a post Brexit world”, a topic that is sure to ignite the flames of opinion.
Sitting on that panel will be Jack Inglis (pictured), CEO of AIMA (Alternative Investment Management Association). As Inglis points out, this is a topic that is likely to run and run. Indeed, since the Brexit decision was confirmed last June it already feels like we’ve had a lifetime’s worth of press commentary over the last six months.
There is, says Inglis, still a limited amount
Preqin’s All-Strategies Hedge Fund benchmark recorded gains of 1.40 per cent in January 2017, the highest January performance recorded since 2013 (+2.59 per cent).
This also represents the highest performance month for the industry since April 2016, as funds built on gains of 1.07 per cent seen in December.
All leading hedge fund strategies posted positive performance for the month, with equities strategies (+1.82 per cent) and event driven strategies (+1.70 per cent) funds leading the way. January’s positive returns put 12-month performance for the industry at 11.75 per cent, and funds have only recorded two months of losses out
Strong gains across Event-Driven, Relative Value Arbitrage and Macro strategies saw Asian hedge funds top the performance of volatile Asian equity markets in both Q4 and FY 2016, according to HFR’s latest Hedge Fund Industry Report.
At the same time, total hedge fund capital invested in Asian hedge funds was steady to conclude 2016, posting a narrow quarterly decline of USD1.4 billion to end the year at USD110.4 billion USD (RMB, JPY) For FY 2016, total capital invested in the Asian hedge fund industry fell by USD8.6 billion, though the majority of the decline occurred in the volatile 1Q16, when
Building on its indexing and liquid alternative asset management business in the United States, New York-based ABR Dynamic Funds, LLC has launched its first Irish-domiciled UCITS V fund.
The fund, which seeks US equities participation in a bull market and significant, positive absolute returns in a crisis, is being distributed by OpenFunds, which is also acting as Swiss legal representative for the fund. The fully-systematic fund will seek returns similar to ABR's first index, the ABR Dynamic Blend Equity and Volatility Index (ABRVXX).
ABR's founder and CEO, Taylor Lukof, plans to grow Assets Under Management (AUM) in an expanding segment
A survey by The European Repo and Collateral Council of the International Capital Market Association (ICMA) calculating the amount of repo business outstanding on 7 December 2016 from the returns of 65 offices of 62 financial groups, sets the baseline figure for market size at EUR5,656 billion.
Using a consistent sample of banks that have contributed to the last the surveys, the market shows 0.8 per cent year on year growth and 2.4 per cent growth from the June 2016 survey. The size of the repo market remains static, with some seasonal fluctuations. Negligible real growth in the repo market,
