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Brummer & Partners, the Stockholm-based multi-strategy hedge fund firm, has seen its flagship vehicle advance further on the back of strong stock market gains in August, with equity, credit and fixed income funds all in positive territory.
The Brummer Multi-Strategy (BMS) fund – which invests in a range of single-strategy hedge funds – made 0.4 per cent last month in its USD and SEK classes, bringing its year-to-date return to 4.2 per cent.
The Brummer Multi-Strategy 2xL twice-levered version meanwhile rose 0.7 per cent in its SEK class and 0.8 per cent in its USD class in August, and is now
Hedge funds have lost almost USD560 million after several hefty short bets on a range of FTSE 100 stocks turned sour as equity markets yielded solid gains.
New data from London-based equity research firm Ortex Analytics shows almost three-quarters of total short losses in August came from big wagers against just five names: Ocado Group, InterContinental Hotels, International Consolidated Airlines Group, BHP and Pearson.
Together, they accounted for a bruising GBP310 million loss out of a total hit of GBP420 million to hedge fund short sellers last month.
As UK equities gained ground towards the end of the summer, hedge
New academic research by Plato Investment Management’s Head of Long Short Strategies, Dr David Allen, has highlighted the need for investors to move beyond the traditional “bell-shaped” normal distribution assumption that underpins much of industry practice.Dr Allen’s research paper, titled A comparison of non-Guassian VaR estimation and portfolio construction techniques, has recently been published in the Journal of Empirical Finance.
“It is widely accepted by academics that asset returns do not follow the well behaved bell-shaped normal distribution of economic textbooks, and that extreme returns occur much more frequently than one would expect,” says Allen. “For example, if stock returns
On 31 July, 2020, the Internal Revenue Service (IRS) released proposed regulations (the Proposed Regulations) relating to the scope and applicability of Internal Revenue Code Section 1061. This alert will provide an overview of the Proposed Regulations and how they may affect hedge, private equity and other investment funds.
Intertrust, a provider of tech-enabled fund and corporate solutions, has appointed Nick Maton as Luxembourg Country Head and Managing Director.Read the full story at Private Equity Wire…
Frankfurt-based asset manager First Private Investment Management has established a new multi-boutique network, FP Investment Partners which offers access to quant investing, infrastructure and alternatives/hedge fund investments.Read the full story at Institutional Asset Manager…
LEVERJ a decentralised cryptocurrency derivatives trading platform launched by Wall Street veterans from JP Morgan, Goldman Sachs, and Credit Suisse, has partnered with Brave New Coin (BNC) to create a scalable decentralised derivatives exchange.Read the full story at Institutional Asset Manager…
The Commodity Futures Trading Commission has approved an Amended Order of Registration for LedgerX to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organisation under the Commodity Exchange Act.Under the amended order, LedgerX is authorised to provide clearing services for fully-collateralised futures and options on futures in addition to the previously authorised swaps, and will no longer be limited to clearing digital currency products.
LedgerX, a Delaware limited liability company located in New York City, is also registered with the CFTC as a designated contract market and swap execution facility.
Horizon Software (Horizon), a SaaS provider of electronic trading solutions and algorithmic technology, has appointed Emmanuel Faure as Head of Sales APAC to support its rapid growth in the region. Faure brings exceptional experience and leadership, having worked as a Managing Director and Head of Business Development in the financial industry in Asia for over 20 years.
Growth in APAC has always been an important strategic goal for Horizon. Recent years have seen its reputation and client list across Asia grow and, looking to build on this success, Horizon wanted to bolster its local sales team, for which Emmanuel was
StakeHound is to launch the first tokens that allow access to DeFi while earning staking rewards, unlocking USD20 billion in liquidity for the Ethereum and Radix ecosystems. Incubated by Radix, the first layer-one protocol for DeFi, StakeHound will provide a seamless liquidity bridge into the rapidly growing DeFi ecosystems on both ledgers.
Until now, cryptocurrency users had to choose between earning staking rewards by staking their tokens, or retaining token liquidity by not staking, allowing them to participate in things like DeFi and token trading. StakeHound solves this by creating stake-backed, instantly transferable, and DeFi-ready tokens. All major Proof-of-Stake cryptocurrencies will
