Managers
The Eurekahedge December report on hedge funds reveals that over November 2016 hedge funds were up 3.53 per cent for the year, posting better performance compared to a modest 1.73 per cent gain over the last year.
The asset base for the industry contracted USD10.4 billion in 2016, on the back of steep redemption pressure with net outflows totalling USD28.2 billion for the year, Eurekahedge writes.
Almost 13 per cent of billion dollar hedge funds posted double-digit gains in 2016, compared to 8 per cent in 2015. Among the sub-billion dollar hedge funds, almost 20 per cent returned double-digit performance
Azabu Value Partners (Cayman) has launched the Azabu Value Master Fund, a Japan-focused fundamental equity long/short strategy under the umbrella of Rogers Investment Advisors.
The fund is managed by June-Yon Kim and Oleg Zuravljov, former Fidelity Japan colleagues with nearly four decades of combined experience in Japanese equities.
Michael O’Flynn, head of business development and a long time financial markets veteran, serves as managing director of Azabu Value Partners (Cayman), the general partner of the fund.
The fund employs a fundamental bottom-up strategy, investing in Japanese larger capitalisation stocks. The strategy is enhanced by a derivative overlay and
Fortress Investment Group is to acquire a significant portion of a EUR17.7 billion portfolio of non-performing Italian loans from UniCredit.
At closing, the UniCredit transaction will represent the largest ever non-performing loan (NPL) transaction in Europe.
Fortress began investing in Italian loans and loan servicing in 2000, with its investment in Italfondiario, which was subsequently transformed from a mortgage bank into a specialised loan management company.
Fortress’s other major transactions include its acquisition in 2005 of EUR13 billion in NPLs from Intesa banking group, and in 2015 the acquisition of specialised servicer UniCredit Credit Management Bank (renamed doBank).
Perhaps it is apt that Protégé Partners, LLC is located above the world-renowned Museum of Modern Art in New York given that its modus operandi is to find the best and most creative talents in the hedge fund industry.
Some seed investors look for portfolio managers with proven skills in investing, not running businesses or dealing with clients.
"We want them to do all three. We want them to be great portfolio managers/analysts, great at running a business, great at dealing with clients: we want the whole package. We are looking for Renaissance men and women who are multi-talented," says Jeffrey
Global Advisors Investment Fund (GABI) has been admitted to the Official List of the Channel Islands Securities Exchange (CISE), becoming the first regulated bitcoin fund to be listed on any exchange globally.
The CISE has approved the admission to listing of all of the redeemable participating no par value shares of the open ended fund, which is managed by Global Advisors (Jersey) Limited.
GABI was launched in 2014 as the world’s first regulated bitcoin fund when it received certification as an Expert Fund from the Jersey Financial Services Commission.
Its listing on the CISE means that it joins
SS&C Technologies, a provider of financial services software and software-enabled services, has acquired Conifer Financial Services, an independent asset services firm, for an aggregate purchase price of USD88.5 million.
Senior management of Conifer will continue to lead the business.
Conifer has 200 clients worldwide representing USD110 billion of combined assets under administration (AUA). Headquartered in San Francisco and with offices in New York, Singapore and Nova Scotia, Conifer services pensions, endowments, foundations, family offices, RIAs, traditional asset managers, private equity and hedge funds.
The acquisition strengthens SS&C's market position on the West Coast and provides a wider array
Man Group is marking the 25th anniversary of Man FRM, a global alternatives investment specialist with USD12.8 billion of funds under management.
FRM was founded in 1991 in London as a hedge fund research consultancy and in 1997 launched its first client partnership solution and its flagship commingled portfolio product.
In 1998 the firm expanded into managed accounts to better serve clients and the firm’s own investment needs. In 2000 it was behind the development of the MSCI hedge fund indices in collaboration with Morgan Stanley.
In 2012, FRM was acquired by Man Group and combined with the
Och-Ziff Capital Management Group has closed its first European collateralised loan obligation (CLO) transaction, OZLME, totalling approximately EUR413 million.
The CLO, arranged by Bank of America Merrill Lynch, will be managed through Och-Ziff's affiliate, Och-Ziff Europe Loan Management, and will invest predominantly in broadly syndicated senior secured loans.
"We are very pleased to announce the closing of our first European CLO," says Adeel Shafiqullah, managing director and senior portfolio manager of institutional credit strategies in Europe. "We have a deep, experienced team of credit investment professionals in Europe with significant and broad expertise investing and managing CLO portfolios. This
Societe Generale Prime Services has made three changes to its flagship SG CTA Index for 2017 – one new constituent and two strategy rotations – following its annual CTA indices review.
Tom Wrobel, director of alternative investments consulting at Societe Generale Prime Services, says: “We welcome GSA Capital Partners to both the SG CTA Index and SG Trend Index, whilst Graham Capital Management and MAN Investments have both substituted constituent programs, reflecting changes in the evolving CTA asset landscape. Whilst the turnover in index constituents is low, the industry is growing, and the asset cut-off for inclusion in all index
Hedge fund managers have become more upbeat about the Brexit result in the intervening five months, according to a new report published by Preqin.
Preqin surveyed 276 hedge fund managers and 108 investors in November 2016 to see how their views on Brexit have changed since the referendum result. The report – Impact of Brexit on Hedge Funds – combines the results of that survey and comprehensive data taken from Preqin's online services.
As the majority of fund managers believed the UK would vote to remain in the UK (71 per cent), it is unsurprising that a large proportion were caught out by the
