Managers
Investors redeemed a net USD20.70 billion from hedge funds in June, bringing second quarter net flows to negative USD10.68 billion and first half net flows to negative USD27.95 billion, according to eVestment’s latest Hedge Fund Industry Asset Flows Report.
The redemptions saw global hedge fund assets drop below USD3 trillion again to USD2.99 trillion.
June redemptions were the largest June since eVestment began tracking monthly flows in 2009. Q2 outflows were not near historic, but were the industry’s third straight quarter of redemptions, which has not occurred since Q2 2009 (last of four quarters of redemptions). The first half
Nasdaq Nordic is planning to make changes to the Alternative Investment Funds market on Nasdaq Copenhagen.
The changes include renaming the current market segment OMX CPH Other Collective Investments and adding two new instrument subtypes, AIF and Capital Associations.
In addition, Turnover Lists Foreign funds – indicativeNAV and Other Collective Investment Schemes will be renamed. Related List population Other Collective Inv.DKK will also be renamed and an additional List Population created.
The AIF changes are planned for INET and GCF production as of 5 September 2016 and testing will be available in INET Test (NTF) and GCF
Man Group, the largest listed hedge fund group in the world, has published interim results to end June 2016 that show that funds under management are down from the end December figure of USD78.7 billion to USD76.4 billion.
Net inflows in the second half were USD1.0 billion, compared with the same period in 2015’s which saw net outflows of USD2.6 billion. Gross sales were USD9.8 billion against the 2015 figure of USD10.5 billion, while redemptions were down, sitting at USD8.8 billion, against a figure of USD13.1 billion in the first half of 2015.
The adjusted profit before tax was
Aquila Capital is to launch an alternative beta strategy in cooperation with Alpha Centauri, bringing the Hamburg-based specialist investment boutique, which offers liquid alternative risk premia and equity factor strategies, to Aquila's Associated Manager Group platform.
The new alternative beta strategy is a liquid alternative to traditional bond investments for institutional investors and offers market neutral access to alternative risk premia across several asset classes such as equities, fixed income, interest rates and FX. The firm writes that Alpha Centauri will apply a disciplined research process to identify hundreds of the most attractive risk factors while maintaining strong diversification.
Three Hills Capital Partners (THCP) has held the final closing of its second fund with total committed assets of around EUR200 million, in excess of the initial target of EUR150 million.
The new fund, named Three Hills Decalia after the fundraising partnership with Geneva-based asset manager Decalia, has completed its fundraising less than two years after the final closing of the first fund, which is now fully invested. As a result, THCP holds circa EUR400 million of assets under management.
The strategy of THCP is currently based on providing subordinated private debt and senior equity solutions across European mid-market
Economic uncertainty following the UK vote to leave the EU has created potential opportunities for hedge fund managers and, as a result, many more funds have launched focused on the region, according to Preqin’s Q2 update on the hedge fund industry.
Europe-focused hedge funds saw a large increase in the proportion of overall fund launches, rising from 1 per cent of funds launched in Q1 to 16 per cent of those incepted in Q2.
At the same time, UCITS-compliant funds accounted for 18 per cent of overall fund inceptions through Q2, the highest quarterly proportion tracked by Preqin since
This month marks the five-year anniversary of the three successful GAM Star Credit Opportunities funds (EUR, USD and GDP) managed by Atlanticomnium SA in Geneva.
The funds have delivered strong performance in spite of many challenges during the period, including eurozone crises in various iterations, Russia’s slowdown, worries over the Chinese economy, as well as the latest political turmoil from the UK’s Brexit vote. Investors have enjoyed a total return of 53 per cent in the EUR fund, 60 per cent in the GBP fund and 44 per cent in the USD fund since launch.
The funds have delivered what
Incline Investment Management (IIM) is marking the fourth anniversary of its proprietary investment program, the Systematic Hybrid Strategy, which has outperformed its benchmark, the HFRX Macro: Systematic Diversified CTA Index by close to 25 per cent since its launch in July 2012.
The strategy’s objective is to provide non-correlated diversification with equity-like volatility. IIM says a classic case of the ‘crisis alpha’ it offers was apparent the day after the Brexit vote on 23 June when the Strategy was up 9.5 per cent. The Systematic Hybrid Strategy was up 9.45 per cent in June.
In response to demand for non-correlated
HTG Capital Partners is to acquire the introducing broker, money management and proprietary trading businesses of Kottke Associates.
The transaction is expected to close in the third quarter, subject to the completion of certain closing conditions.
Chris Hehmeyer, manager and CEO of HTG, says: “HTG is very excited to partner with the Kottke team. Neal and his partners are giants in our industry, and I am honoured to now be in business with someone I have known for over 30 years. HTG will now provide its expertise, technology and high level of service to the Kottke prop traders, customers
Operations technology startup Predictive has acquired 2338 Technologies, an early-stage, privately-backed startup developing machine learning technologies.
The purchase price has not been disclosed.
2338’s technology will now power PredictiveOps, a SaaS application that is aiming to transform language in hedge fund documents and regulatory filings into useable data for operations planning and automation.
As part of the transaction, 2338’s founder and CEO Carl P Evans III has agreed to join Predictive as co-founder, chief product officer, and corporate counsel. Evans brings over 15 years of software, hardware, robotics, machine learning development, and technology management experience to Predictive.
