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Emerging Markets hedge funds extended industry-leading performance through October, with not only Chinese- but also Russia-focused hedge funds driving performance gains, as reported in the HFR Asian Hedge Fund Industry Report and the HFR Emerging Markets Hedge Fund Industry Report from HFR.
Continuing many of the themes which have driven performance gains throughout 2019, Emerging Markets hedge funds continued to position for and trade through trade tariff tensions, the falling Chinese Renminbi, growing protests in Hong Kong, and interest rate cuts by the US Federal Reserve.
EM hedge fund performance was led by the HFRI EM: China Index, which narrowly
Wellington Management, a USD1.1 trillion global asset manager, has chosen Artivest’s open-architecture digital platform to help provide financial advisors and qualified high-net-worth investors access to its alternative strategies.
“At Wellington, we are dedicated to using our specialised investment management expertise and skillset to help our clients surpass their goals,” says Chris Kirk, CFA, President of Wellington Alternative Investments. “We’re looking forward to partnering with Artivest to expand the current distribution of our alternatives strategies to a broader group of qualified high-net-worth investors and the advisors who serve them.”
Wellington is the latest investment manager to expand how it currently provides
Itarle, a provider of high-performance, best execution services, algorithmic execution and analytics services to trading venues, has appointed James Thorpe as Regional Manager of its Chicago office to further boost its presence across North America.
Thorpe joins Itarle from Clear Capital Group, a proprietary trading group (PTG) in Chicago where he served as CEO. Prior to that, he was CEO of Mercury Derivatives, part of The Hertshten Group, where he managed the company’s day-to-day expansion across China before managing the global trading group with over 250 million Futures contracts traded annually.
“James’ extensive knowledge in short term interest rates (STIR)
Nearly 45 per cent of hedge fund saw inflows in October but overall outflows continued for eighth consecutive month.
The balancing act of asset inflows and outflows worked against the hedge fund industry again in October, with investors redeeming USD6.20 billion from the industry, according to the just-released October 2019 eVestment Hedge Fund Asset Flows Report.
While 45 per cent of funds did experience inflows last month, the overall asset outflows in October marked the eighth consecutive month of outflows for the industry. The last time the industry experienced this many consecutive months of outflows began in Q3 2008 and
The SS&C GlobeOp Forward Redemption Indicator for November 2019 measured 4.81 per cent, up from 3.76 per cent in October.
“SS&C GlobeOp’s Forward Redemption Indicator was 4.81 per cent for November 2019, an increase compared to the 3.96 per cent reported for the same period a year ago,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “November typically experiences above-average redemption notices, and this month’s result is in line with long-term averages.”
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,
Irish Funds has announced total net assets stand at a record EUR2.925 trillion, according to latest data to end September from the Central Bank of Ireland (CBI).
Irish Funds says continuing strong flows highlight the ongoing importance of access to EU domiciled funds for UK and global investors. With assets in both UCITS and AIFs up 20 per cent to EUR2.19 trillion and EUR735 billion respectively, there is broad use of regulated funds by both institutional and retail investors.
Net sales into Irish Funds also more than doubled over the first nine months of 2019 to EUR202 billion, up
Tradeweb Markets, an operator of electronic marketplaces for rates, credit, equities and money markets, has launched portfolio trading for European Credit bonds, just ten months after successfully introducing the functionality for US Credit bonds.
So far, Tradeweb has seen portfolio trading activity exceed USD29 billion, with single trades as large as USD1 billion in notional value. Currently, Tradeweb facilitates portfolio trading for European, US Investment Grade, US High Yield, and Emerging Markets bonds.
“Our portfolio trading functionality showcases Tradeweb’s unique ability to connect innovative technology with deep pools of liquidity to create greater efficiency for our clients,” says Enrico
The hedge fund industry’s redemption trend continued in September as a fourth straight month of net outflows saw monthly redemptions increasing to USD14.7 billion.
September’s redemptions represented 0.5 per cent of hedge fund industry assets and were up from August’s USD11.3 billion in net outflows, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions.
Coupled with a USD9.1 billion trading profit in September, hedge fund industry assets stood at more than USD3.05 trillion at the end of the month.
September’s redemptions reflected investors’ response to a summer of equity and bond market volatility and
CGS-CIMB Securities (CGS-CIMB) has launched a new full-service prime services platform designed to service the rapidly growing smaller funds sector, including hedge funds, family offices, proprietary traders, asset managers and broker dealers.
It extends CGS-CIMB’s prime services to smaller funds of up to USD50 million and provides them with services that are normally reserved for bigger funds. Drawing on the resources of CGS-CIMB’s global brokerage business, the service offers access to Asia’s growing markets with products including equities, fixed income, securities financing, exchange-listed futures, stock borrowing and lending, as well as custody, clearing and settlement solutions.
Flexible account structures
Broadridge Financial Solutions has acquired ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets.
Broadridge’s SaaS technology currently powers more than 550 hedge funds, traditional asset managers and fund administrators with a complete front-to-back, multi-asset class solution that simplifies and improves firm trading and operations. As private markets continue to grow and present opportunities for asset managers to find alpha and differentiate themselves, the addition of ClearStructure’s private debt capabilities will create a differentiated solution in the market and enable Broadridge to serve new clients.
“ClearStructure’s component services enhance our existing multi-asset class,
