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Investors pulled USD16.43 billion from the hedge funds in June, bringing year-to-date (YTD) outflows to -USD44.61 billion, according to the June 2019 eVestment Hedge Fund Asset Flows report. Overall industry AUM stood at USD3.273 trillion in June.
For the month of June, 57 per cent of reporting managers had net redemptions, and the month capped off the fifth consecutive quarter of industry redemptions. However, that also means that in June 43 per cent of managers had inflows or were flat. For hedge funds managers, this highlights the importance of having a compelling marketing and investor relations message that highlights performance,
TriOptima, an infrastructure service that aims to lower costs and mitigates risk in OTC derivatives markets, has completed the first cleared inflation swap compression run at LCH SwapClear.
The compression run was completed on 19 July with Euro cleared inflation swaps being compressed through the triReduce service. TriOptima will go live with Sterling and US Dollar cleared inflation swaps compression in LCH SwapClear imminently.
In order to manage capital pressures, clients for the first time can ‘co-mingle’ cleared inflation swaps with vanilla swaps by leveraging the new triReduce low touch compression service. Launched in late 2018, low touch compression was
Liontrust’s has appointed, subject to regulatory approval, Mandy Donald as an Independent Non-executive Director on the firm’s board, effective 1 August 2019. Donald will also become Chairman of the Audit & Risk Committee on 20 September 2019.
Donald has board experience in both complex organisations and early stage environments, and brings a background of strategic planning and operational management to the company. A chartered accountant by training, she spent 18 years with EY before steering her focus towards the growth of new companies, serving on the boards of a diverse range of start-up businesses. Mandy is a Trustee of The
The private debt market is forecast to reach USD1.4 trillion in the next five years. How it evolves will, to some extent, depend on technology innovation, as fund managers look to develop new ways to analyse and value assets, automate processes, and construct customised products to satisfy LPs. In this podcast, Ross Ellis and Chad Longenecker from the SEI Investment Manager Services division, Hank D’Allesandro of Morgan Stanley Credit Partners and Cecile Mayer-Levi of Tikehau Investment Management discuss the role of technology in private debt markets and what future disruption might look like.
Total hedge fund assets increased to USD3.245 trillion in the second quarter of the year, narrowly eclipsing the previous record level of USD3.244 trillion in Q3 2018, according to the latest HFR Global Hedge Fund Industry Report.
Led by a strong Q1 recovery from the defensive outperformance in Q4 2018, the HFRI Fund Weighted Composite Index gained +7.44 per cent in the first half of 2019, the strongest 1H gain since 2009. Like many US equity market indices, the 2019 performance increases the HFRI to a record index value of 14,391.
Total hedge fund assets increased by USD63.7 billion in Q2 on strong performance-based gains, following the USD78.8 billion increase in Q1 and bringing the YTD capital growth to USD142.5 billion through June. Investor
The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Swapnil Rege, a former portfolio manager for a Connecticut-based hedge fund registered as a commodity pool operator (CPO), for fraudulently mis-marking swap valuations to artificially inflate the profits of his employer’s trading book in order to obtain an increased performance bonus.
The Order requires Rege to pay a USD100,000 civil monetary penalty, as well as to disgorge the USD600,000 performance bonus he received (plus pre-judgment interest in the amount of USD49,170.84). It also bans Rege from trading on or subject to the rules of any CFTC-registered
Man GLG, the discretionary investment management business of Man Group, has appointed Patrick Kenney and Santiago Pardo as portfolio managers within its credit business.
Based in London, they will focus on global (non-US) stressed, distressed and opportunistic credit, and report into Simon Finch, CIO of Credit at Man GLG.
Kenney has more than 19 years of experience investing in credit markets. He was Head of International Credit Opportunities and Managing Director at DE Shaw & Co. for nearly ten years from 2003 to 2012, where he built and managed a multi-billion dollar international fundamental credit investing business. Patrick joins
Inflexion Private Equity is to acquire Estera, a global provider of funds, corporate and trust services from Bridgepoint. Following completion of the investment, Estera will be merged with Inflexion’s existing portfolio company Ocorian, forming a global corporate service and fund administration leader of significant scale.
The combined business will operate from 18 key global jurisdictions, including Bermuda, Cayman, Guernsey, Ireland, Jersey, Luxembourg and Mauritius. The businesses will have over 1,250 professionals globally, serving over 8,000 clients across the corporate service, fund administration and private client sector. Together, Ocorian and Estera, will provide a complete range of services to clients with
FundRock Partners Ltd (FP), the ACD business of FundRock Group, has appointed Michael Vareika and Eric Personne as Independent Non-Executive Directors to its Board of Directors, subject to the FCA approval.
FundRock’s Board regularly evaluates its composition to ensure it includes the appropriate skills, experience and perspective necessary to drive growth.
Vareika has over 14 years of experience as an independent director, occupying board positions for leading institutions from across the world, for a large variety of fund and company structures. Vareika, who is a Harvard Business School and INSEAD alumnus and holds a Master in Law from University
Avelacom, a global connectivity and IT infrastructure provider for the financial services industry, has added Gemini Trust Company, a digital asset exchange and custodian, to its list of cryptocurrency exchange tech vendors in Equinix’s NY5 data centre.
The partnership will support both firms’ clients by providing increased connectivity options to Gemini.
With this new partnership Avelacom’s clients, including those who are already Gemini clients, can connect directly to the exchange’s infrastructure to access market data and order routing via FIX protocol – the global standard for professional traders and institutions in crypto markets.
All Gemini clients will also benefit from
