Managers
London Stock Exchange Group (LSEG), following satisfactory completion of all outstanding conditions, has completed its acquisition of Frank Russell Company (Russell).
As previously announced, the comprehensive review of Russell’s investment management business is making good progress and is on track to be completed early in 2015.
Xavier Rolet, Chief Executive of LSEG, says: "Today marks a significant step for the Group. Russell significantly enhances LSEG's presence in the US, the world's largest global financial services market, further expanding our global footprint and diversifying our customer and product base. We are delighted today to welcome Russell to the Group, and we
The November 2014 average daily transaction value on the Euronext cash order book stood at EUR6,544 million (+22.3% compared to November 2013), according to the exchange’s latest performance update.
The average daily volumes on equity index derivatives during the month were slightly up at 230,036 contracts (+3% compared with November 2013), while the activity on individual equity derivatives decreased by 11% to 238,784 contracts.
The activity on commodity derivatives continued to outperform in November with an average daily volume at 48,012 contracts traded, up 48% when compared to November 2013.
On the primary market, the EUR4.7 billion raised by Numericable
Kames Capital has launched two absolute return funds to complement its existing range – the Kames Equity Market Neutral Fund and the Kames Equity Market Neutral Plus Fund.
The firm now has four absolute return funds in its investment range.
The new funds will leverage Kames existing expertise in the absolute return space, by providing investors with a wider choice of strategies to complement the existing Kames UK Equity Absolute Return Fund.
The Kames Equity Market Neutral Fund will target a return of cash plus 4%, in all market conditions, over a 36 month rolling term. The fund
Six out seven of Index IQ’s proprietary family of hedge fund replication and alternative beta indexes recorded positive performance in November.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge benchmark indexes were originally introduced on March 30, 2007, and have been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.
THE IQ Hedge Market Neutral BetaI led the way with a return of 1.30%, followed by The IQ Hedge Long/Short Beta Index (1.13%), the IQ Hedge Event-Driven Beta
Trading volume for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE) totalled 85.57 million contracts in November.
Average daily volume (ADV) was 4.50 million contracts, a two-per cent decrease from November 2013 and a 36-per cent decrease from October 2014, the busiest month ever in CBOE Holdings' history.
ADV through November is up 11 per cent from the same period one year ago. With one month remaining in 2014, CBOE Holdings year-to-date volume has already matched 2011's record annual volume of 1.21 billion contracts.
CBOE's November volume
Canada’s derivatives markets are appealing to a broad range of domestic and international investors, with growing interest in using the country’s futures and options markets to generate income, make directional plays and manage risk exposures for fixed income and equity portfolios.
Although stagnant volatility and economic weakness in Canada’s natural resource and commodity sectors has caused trading in equity options to decline in recent years, Andy Nybo, a TABB principal, head of derivatives and author of new research, “Canadian Derivatives Markets: Co-Existing in the Shadow of a Giant,” says the reverse is true for their futures markets, benefiting from rising
All six of of Market Vectors Index Solutions’ investable Long/Short Equity Indices, reported positive performance in November.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Western Europe Long/Short Equity Index led the way with a return of 2.55% followed by the Market Vectors Global Long/Short Equity Index (1.08%), the Market Vectors Global Event Long/Short Equity Index (0.64%) and the
Market Vectors North America Long/Short Equity Index (0.56%).
The Market Vectors Emerging Markets Long/Short Equity Index produced a return of 0.24%,
Financial services software provider SS&C Technologies Holdings has acquired DST Global Solutions Ltd, a subsidiary of DST Systems, Inc, for USD95 million in cash.
DST Global’s products now owned by SS&C include industry-leading investment and fund accounting platform, HiPortfolio, and investment data management and analytics platform, Anova. SS&C financed a USD75 million portion of the purchase price by drawing down on its line of credit.
With more than 155 customers throughout the Americas, EMEA, and Asia-Pacific, the DST Global products complement SS&C’s existing portfolio of technology capabilities and service offerings. The acquisition further solidifies SS&C’s position as the leading
With interest rates and credit spreads near historic lows and equity valuation above historical averages, many people are concerned that the Federal Reserve, by artificially keeping rates low, has created a 2007 type asset bubble in the capital markets where many securities are priced to perfection.
What happens to the financial markets when the Fed begins to raise interest rates or there is some other economic shock to the financial system, and what impact will this have on the hedge fund industry? We recently saw a glimpse of this from mid-September to mid-October when we experienced a slight tremor in
NewSmith has launched the NewSmith European Fund, a UCITS long-short equity fund for UK and European investors.
The fund will be managed by Jean Maigrot, European Equity Investment Leader at NewSmith. Jean has 28 years’ experience of trading European equities, and was previously head of trading teams at Salomon Brothers (1992-1996), HVB (1998-2001) and ABN Amro (2002-2007). He joined NewSmith in 2007.
The fund’s investment strategy is equity long/short focusing on large cap European stocks. It will follow the same strategy as NewSmith’s offshore long/short equity fund which has a strong seven year track record, posting 29% net returns
