Managers
Robert J Klein (pictured) has joined CIFC Corp as Senior Portfolio Manager and Managing Director, Structured Products, and will lead the firm’s structured products portfolios.
In his new role, Klein reports to Co-Presidents Oliver Wriedt and Steve Vaccaro and will also join the firm’s Operating Committee.
“Robert brings a wealth of experience to CIFC and further strengthens our structured products platform,” says Steve Vaccaro, Chief Investment Officer of CIFC. “We have worked closely with him for many years and are very pleased to have him on our team.”
Klein joins from Prospect Capital Management, where he was the lead
Hedge funds saw the largest total capital decline since the Financial Crisis of 2008 in the third quarter, as global financial market volatility surged on uncertainty over US interest rates, China and M&A transactions.
Estimated hedge fund capital declined by USD95 billion across all strategy areas to end the quarter at USD2.87 trillion, as new investor capital inflows only partially offset performance-based declines, according to the latest HFR Global Hedge Fund Industry Report. The quarterly asset decline is the first since Q2 2012 and the largest since Q4 2008.
The HFRI Fund Weighted Composite Index (HFRI) fell -3.9 per cent in 3Q15, extending a four-month drawdown of -5.1 per cent and bringing HFRI performance to -1.5 per cent YTD
Man Group is marking the 20th anniversary of Man GLG, the group’s discretionary fund manager and one of the most established names in the global hedge fund industry.
GLG, which has played a role in the development and advancement of the hedge fund industry over the past two decades, was founded in 1995 as a division of Lehman Brothers. The firm became an independent business at the turn of the millennium, and listed on the New York Stock Exchange in 2007. When it was acquired by Man Group in 2010, GLG expanded its global footprint and gained a robust risk
Hedge funds were down 1.43 per cent in September, the fourth consecutive monthly loss, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is down 1.21 per cent year to date.
“Investor uncertainty fueled by weak growth numbers in the US and China, along with the Fed’s reluctance to raise US interest rates, triggered a global selloff in equities, commodities, and high yield bonds,” says Sol Waksman (pictured), founder and president of BarclayHedge.
All but one of Barclay’s 18 hedge fund indices lost ground in September. The Healthcare & Biotechnology Index dropped 5.90 per cent, adding to its
What has changed since the end-of-August market debacle?
Jersey is successfully leveraging its appeal as a leading alternative funds domicile to attract innovative technology and software businesses that support the European asset manager community.
TORA, a technology and financial services company focusing on the investment management space, is the latest company to relocate to Jersey this summer and underlines Jersey’s position as a centre for both financial and digital services.
Having been founded in 2004, TORA has grown a strong international institutional client base and is now establishing a presence in Jersey in order to build out its European business. The new business in Jersey will be
CME Group is to launch Ultra 10-Year US Treasury Note futures and options for early in the first quarter of 2016. The new contracts will be listed with, and subject to, the rules and regulations of the CBOT, pending certification of contract terms and conditions with the CFTC and completion of all applicable regulatory review periods.
The new Ultra 10-Year US Treasury Note futures will allow for delivery of original issue 10-year US Treasury notes with remaining terms to maturity at delivery of at least 9 years 5 months and not more than 10 years. By comparison, the existing 10-Year US Treasury
All six of IndexIQ’s IQ Hedge investable hedge fund replication indexes recorded negative performance in September.
The month’s biggest loser was the IQ Hedge Long/Short Index with a return of -2.10 per cent followed by the IQ Merger Arbitrage Index (-2.04 per cent), the IQ Hedge Event Driven Index (-1.20 per cent), the IQ Hedge Global Macro Index (-1.20 per cent), the IQ Hedge Multi-Strategy Index
(-0.86 per cent) and the IQ Hedge Global Macro Index (-0.36 per cent).
The month’s best performer was the IQ Hedge Market Neutral Index which saw a drop of -0.19 per cent.
Managed Funds Association (MFA) President and CEO Richard H Baker has released a statement regarding the US Securities and Exchange Commission’s comprehensive report on private fund reporting detailed in Form PF.
Baker says: “MFA Members welcome the release of this data, which provides even more transparency into our globally-regulated industry.
“Alternative investment managers play an active role in the more regulated, more transparent capital markets brought about by the Dodd-Frank Act. MFA Members embraced many of these changes and continue to advocate for globally-consistent regulations that foster fair and efficient markets for all investors. Increased reporting requirements were part of
The Preqin All-Strategies Hedge Fund benchmark returned -1.44 per cent in September, marking another difficult month for hedge funds as relative value funds were the only top-level strategy to see positive performance.
This is the fourth consecutive month of negative returns for hedge funds, the longest negative period since Jun – Nov 2008. Overall returns for 2015 YTD now stand at only 0.18 per cent, with the year on course to have the lowest returns since 2011.
However, with the S&P 500 currently returning -3.14 per cent for the year so far, hedge funds are still outperforming public markets.
