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The market rebound since 23 March has fuelled strategies with a higher market beta such as Special Situations (+3.8 per cent) and Directional L/S (+1.7 per cent), according to the latest Weekly Brief from Lyxor’s Cross Asset Research team. The former has nonetheless cut its market beta during the selloff and thus lagged the recovery in risk assets.
Market Neutral L/S is the only strategy in negative territory month-to-date (-0.9 per cent), a strategy on which we maintain an Underweight stance. CTAs also underperformed (+0.7 per cent) but considering their resiliency during the turmoil in February and March, it remains the
Please find below comments from Truss Edge and 2912 Advisors on the outsourcing challenges and solutions facing hedge funds during the current Covid-19 lockdown. Should you wish to speak to either Truss Edge or 2912 Advisors in New York, please contact Stuart Fieldhouse using the details below.
Law firm Morrison & Foerster has hired Leonora M Shalet as a partner at the firm’s New York office, in its global Private Funds Group.
Shalet is an accomplished funds lawyer who counsels investment funds in connection with their structuring, formation, and ongoing operational needs, as well as on general securities law matters, and regulatory and compliance issues. She is the tenth lawyer to join the New York office as partner since the start of 2019, and the second addition to the Corporate Department since the start of the month, following the arrival of Mitchell S Presser.
Shalet brings to
SS&C Technologies Holdings has launched Advent TransPort, a solution for customising custodial data for the company’s hedge fund and investment manager clients.The latest addition to Advent Data Solutions enables clients to apply custom rules and logic to standard custodial data files before loading into accounting platforms. TransPort streamlines operations by giving users the power to customise their ACD files and filter out any unwanted data. Firms are then able to focus on their unique data requirements and easily add new values. The service is deployed in the cloud, with SS&C Advent handling data normalisation for more than 800 data sources.
Legal firm Sidley Austin has hired Nathan Greene and Jay Baris as partners in its Investment Funds group in New York. Greene and Baris joined Sidley from Shearman & Sterling, where they were both partners in the Investment Funds practice.
“Sidley has a longstanding track record representing registered investment companies and their constituents in fund formation, board representation and related operational and regulatory matters,” says William D Kerr, global leader of Sidley’s Investment Funds practice and member of the firm’s executive committee. “Our registered fund practice is an important component of our broad private funds practice, which distinguishes our practice
Apex Group, a global financial services provider, and Triple Point Liquidity (Triple Point), a New York City based financial technology startup, have partnered to deliver an enhanced Transfer Agency platform to clients.Apex delivers a single-source solution to asset managers, capital markets and private clients via 40-plus offices and 3,500 employees worldwide. The partnership with Triple Point further enhances this offering through the integration of its innovative registrar and transfer agency platform to better manage their liquidity through one integrated best-in-class platform.
The partnership will enable Apex clients to leverage secondary market experts and experience through Hedgebay Securities (Hedgebay), a FINRA
Doug King, CEO and CIO of RCMA Capital’s long-running Merchant Commodity Fund, has described Covid-19 as an “out-and-out demand shock” to oil markets that cannot be solved or cured by governments and central banks.
The recent crash in commodities markets hints at longer-term lower prices as the sector grapples with lower industrial demand for energy and a looming consumer-led recession, the veteran oil and commodities specialist added.
The Merchant Commodity Fund – which trades commodity derivative markets by combining a fundamental supply-and-demand analysis with real-world cash price information – has surged during recent oil volatility. It gained 31 per cent
Scorable has launched a second product to enhance the scope and accuracy of its credit risk analysis, helping fixed-income managers make better investment decisions. The company’s innovative artificial intelligence (AI) solution enables asset managers to monitor corporate bonds and credit spreads and to anticipate rating changes before they occur or markets price them in.
With Covid-19 and the oil price collapse causing massive turmoil in financial markets, careful risk management is more important than ever. More than $92 billion of corporate debt fell to high yield from investment grade in March, and an end to the downward spiral is not in
Digital asset trading platform Bitfinex has launched Bitfinex Pulse, a platform to enable users to exchange ideas, interact with each other and feel the pulse of the exchange’s growing community.
Exabel, an AI platform for fundamental asset managers, has won one of five places for fintechs on Engine, the Investment Association’s innovation hub designed to bring new tech to its investment management member firms.
After three years in pilot development, the firm has launched commercially and has secured a range of European clients, including Iguana Investments, an equity long/short fund, that integrates fundamental and quantitative investment analysis.
Exabel’s ‘quantamental’ technology enables discretionary managers to complement their fundamental strategies with more data-driven techniques, from simple augmentation of existing screening and optimisation of portfolios (often still on Excel), through to powerful AI
