Managers
Macro hedge funds and, more specifically, CTA strategies employing quantitative, trend-following strategies, posted strong gains in November as oil prices plummeted, according to HFR.
The HFRI Macro Index gained +2.6 per cent in November, powered by a gain of +4.6 per cent for the HFRI Macro: Systematic Diversified/CTA Index; both the Macro and CTA Index gains were the strongest since December 2010. The HFRI Fund Weighted Composite Index gained +1.2 per cent for the month, reversing a two-month decline for the broad-based Index, bringing year-to-date (YTD) performance through November to +3.7 per cent. All four main strategy areas tracked by
Concept Capital’s Jack Seibald (pictured) discusses the risks of ’40 Act liquid alternatives, the potential mismatch between managers and investors, fund investor alienation, and why prime brokers might raise their costs to support the ‘short’ side of these funds.
HW: The rise of the ’40 Act alternative mutual fund has attracted a lot of headlines this year as assets climb north of USD300bn. How do you feel about this?
JS: I’ve been in this business a long time. Every time I see everyone running towards a new product I get concerned. The last big product evolution was ETFs. There’s an
Jersey’s strengths as a centre for wealth management, company listings and fund servicing were showcased to over 500 stakeholders in key Asian markets last month, through Jersey Finance’s inaugural Asia Roadshow.
Between 17 and 26 November, Jersey Finance hosted a range of breakfast and lunch events in Hong Kong, Kuala Lumpur, Singapore and finally the United Arab Emirates, featuring a range of guest speakers who discussed trends in the private client, funds, and capital market spaces; including regulation, transparency, and how Jersey expertise and structures are increasingly being employed in an Asian context.
This inaugural Roadshow series builds on
Natixis Global Asset Management has launched the ASG Global Macro Fund (GMFAX), an alternatives mutual fund managed by AlphaSimplex Group, LLC (ASG).
The fund pursues an absolute-return oriented, long/short strategy that employs a dynamic risk-managed approach to invest across a range of global markets.
Investors and financial advisors are clamoring for accessible, liquid ways to invest in alternative strategies,” says David Giunta, president and chief executive officer, at Natixis Global Asset Management – US Distribution. “The ASG Global Macro Fund provides a solution by offering tools and techniques more widely available in hedge funds in a ’40 Act structure. It
Japan Exchange Group (JPX) and Singapore Exchange (SGX) are to enter a Letter of Intent (LOI) to collaborate in the joint development and promotion of the markets on both exchanges.
This cooperation further deepens the long-standing relationship and strategic partnership between JPX and SGX. Under the LOI, JPX and SGX will jointly explore and collaborate in areas such as:-
• Examining the possibility of developing new derivatives products based on TOPIX;
• Collaborating the development of commodities markets on both exchanges;
• Enhancing international connectivity via co-location data centres in each market; and
• Facilitating greater understanding of both markets
Eurekahedge has launched a new index, the Eurekahedge 50, created in partnership with Markov Processes International, which tracks the world top 50 hedge funds in terms of consistently attractive risk-adjusted returns.
The index was created to meet the demands of institutional hedge fund investors seeking a more selective benchmark reflective of diversified institutional quality hedge fund portfolios. The Eurekahedge 50 tracks the returns of the top hedge funds based on longevity, assets under management (AUM) and quality of risk-adjusted returns, taking into account stability and consistency. Boasting attractive performance coupled with a low downside deviation, the Eurekahedge 50 contains household
Commodities trading house Gunvor Group Ltd has agreed a USD1,090,000,000 revolving credit facility in favour of Gunvor International BV and Gunvor SA .
The facility will replace the maturing tranche of the Borrower’s Revolving Credit Facility dated 6 December 2013 and be used to finance general corporate and working capital requirements. The facility was oversubscribed, having launched at USD900 million, and complements the existing USD305 million Facility that matures in 2016.
“We’re pleased to have the continuing support of our banking partners, as well as the participation of new banks,” says Jacques Erni, Gunvor Group CFO. “Gunvor continues to grow
Demand for smart beta indices across Europe is growing, according to research conducted for ETF provider Invesco PowerShares.
Existing smart beta users confirmed that, by 2017 the percentage of assets invested into smart beta products is expected to be 18%, double the allocation at the beginning of 2014. At a country level, respondents based in Germany, Italy and Switzerland expect at least a 100% increase in allocations, with respondents based in the UK, which leads the four markets in terms of current allocations, expecting an increase of just under 70% from 15% at the beginning of 2014 to 25% by
Deutsche Börse Market Data + Services has launched “Eurex IOC Liquidity Indicator for Options,” an analytics product that provides insight into the liquidity of the most widely traded options available on Eurex Exchange.
“Eurex IOC Liquidity Indicator is our first analytics product for options contracts. Because the new indicator is based on order information that is not publicly available, it gives market participants a deeper view of liquidity for Eurex Exchange’s most popular options,” says Georg Gross, Head of Information, Market Data + Services, Deutsche Börse.
The Eurex IOC Liquidity Indicator for Options is calculated for more than 70
Euronextss commodities franchise achieved record daily volumes in milling wheat futures with 88,194 contracts traded and, simultaneously, record daily volumes in milling wheat options with 45,949 contracts traded on 2 December 2014.
On the same day a new total daily volume record for Euronext commodity derivatives was also reached, with 146,222 contracts traded.
Milling wheat futures volume represented over 4.4 million tons on 2 December 2014. The previous record was set on 28 September 2012 with 81,231 contracts / 4.06 million tons traded.
The Euronext milling wheat futures contract has become continental Europe’s most liquid cleared benchmark for
