Managers
Interview with Steven Bulko, CIO, 1798 Fundamental Strategies, Lombard Odier Investment Managers…
Equity markets are close to or at their historic highs. How do you see the big picture for equity investors?
While developed economies have been recovering since the 2008 – 2009 global recession, the pace of that recovery has been varied. The US economy has improved but growth in Europe and Japan has stagnated, leading to a divergence in monetary policy – the Fed is progressively moving out of its accommodative monetary policy while the ECB and BOJ are embracing new strategies involving Quantitative Easing to provide stimulus.
Over the last few years the S&P 500 Index has gained approximately 65 per cent, while the Nikkei 225 has gained 113 per cent. The impact of quantitative easing has led to unparalleled growth in equity markets, to such an extent that hedge funds have largely lagged behind.
“In our opinion it’s not just “raw” underperformance but a combination of underperformance and fees. This is leading investors to ask, “Why do I pay so much to receive so little?” says Nicolas Rousselet (pictured), Managing Director and Head of Hedge Funds at Unigestion.
Put simply, today’s low rate environment has created
Interview from Lugano, Switzerland’s third financial centre, with Gian Luigi Trucco, Swiss Association of Asset Managers…
With revised CISA in place and the introduction of the Swiss legal representative, how do you assess the current climate in the Swiss funds industry?
For the different actors, including the smaller ones, the implementation of the new rules and the establishment of a Swiss legal representative, in case of distribution, has turned out to be a relatively easy and fairly tolerable cost. Particularly if compared to heavier burdens and expenses that other rules and accomplishments, both domestic and international, imply for them, at a time
The Board of Directors of Canadian Derivatives Clearing Corporation (CDCC) has approved the membership application of BBS Securities Inc. BBS will participate on CDCC under broker ID #028.
"Our new CDCC membership marks another achievement to the professional status of BBS Securities Inc. This will open new business opportunities by allowing us to improve and expand our full-range brokerage services in the Canadian market. Our services comprise of deep understanding of the online trading business and our clients' needs. We provide cost efficient services and an outstanding trade experience to our clients. We can accomplish this because we have developed
Halcyon Liquid Strategies UCITS Management and Guggenheim Partners (Guggenheim) have launched the GFS Halcyon Liquid Opportunities Fund, an opportunistic catalyst-driven UCITS fund domiciled in Ireland.
Launched on the Guggenheim Fund Solutions platform, the Fund will utilise Halcyon’s investment expertise to identify public equities where there may be structural market inefficiencies or opportunities for asymmetric returns, and will employ strategies including long/short, relative value, liquid credit, and other strategies.
The Fund will offer weekly liquidity and will launch with more than USD40 million in capital. It will leverage the existing idea generation and investment expertise across Halcyon, an alternative investment firm
The financial and industrials sectors saw the largest amount of hedge fund buying activity in Q4 2014, with Industrials always being a net buy throughout the calendar year.
That’s according to S&P Capital IQ's latest Quarterly Hedge Fund Tracker, a review of 3F filings by pure play hedge funds during the fourth quarter of 2014, and the only aggregate analysis of hedge fund stock ownership of its kind to spotlight hedge fund trend-investments in specific stocks and sectors.
“Our 2014 full year results offer some groundbreaking perspective on the trends hedge fund managers see unfolding in financials, industrials,
The SS&C GlobeOp Forward Redemption Indicator for February 2015 measured 3.64%, up from 2.49% in January.
“Redemption requests increased for the month of February, but remain consistent with historical averages,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp's assets under administration
Quantmetrics Capital Management is to join Lyxor Asset Management’s AIFM managed account platform enabling Lyxor to launch its first AIFMD-compliant strategy on the platform.
Quantmetrics’ investment strategy will be a short-term CTA program invested in all asset classes that seeks to combine behavioural insights with quantitative analysis to capture alpha. It aims to exploit small and temporary price discrepancies in financial markets in the US, Europe and Asia by pursuing a short-term systematic trading of futures and spot FX positions.
Based in London, Quantmetrics was founded in 2003 by Dr Mushtaq Shah and James Fowler who have worked together
Fifth Street Asset Management has closed the Fifth Street Senior Loan Fund I (FS SLF I), a USD309.5 million collateralised loan obligation (CLO).
FS SLF I represents FSAM's initial CLO under management and its pricing was the first for a debut manager in 2015.
FS SLF I is primarily invested in middle market senior secured loans sourced and originated through the Fifth Street platform. The vehicle has a four-year reinvestment period. FSAM sold securities rated from Aaa through Ba3 and retained some of the equity interests and Class F notes. Wells Fargo Securities, LLC served as the Placement Agent.
BGC Partners and GFI Group have entered into a tender offer support agreement in which GFI's board of directors unanimously agreed to support BGC's tender offer for all of the outstanding shares of GFI common stock at USD6.10 per share in cash.
As part of the agreement, BGC shall designate six out of eight directors of the expanded GFI Board. Pursuant to this agreement, BGC has extended the deadline to February 26, 2015, in order to give all stockholders the opportunity to tender in this final extension. BGC exceeded its 45% requirement with nearly 48% of shares tendered, and because
