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North American funds barely avoided dipping back into the red year-to-date in November, as the losses they suffered in October and November wiped most of the gains they made in 2018.
The Eurekahedge North American Hedge Fund Index ended November flat, as fund managers struggled to profit off the equity market recovery.
Long short equities hedge fund managers bore the brunt of the equity market movement in October, which left them down 3.64 per cent during the month.
The equity market selloff left around 80 per cent of the equity fund managers posting losses in October, and resulted in US$29.1
Commodity trader Lon Olen Friedrichsen (Friedrichsen) of Alton, Iowa is to pay USD2.1 million to settle a CFTC charges relating to a fraudulent scheme to illegally trade NYMEX West Texas Intermediate Light Sweet Crude Oil futures contracts on behalf of customers.
The court order requires Friedrichsen to pay USD591,570 in restitution and imposes a civil monetary penalty of USD1,500,000. The Order also permanently bans Friedrichsen from the markets the CFTC regulates and permanently enjoins him from future violations of the Commodity Exchange Act and CFTC Regulations, as charged.
The order resulted from a complaint the CFTC filed against Friedrichsen on 2
The State Street Global Investor Confidence Index decreased to 79.8 in December, down 2.8 points from November’s revised reading of 82.6.
Confidence among North American investors waned, with the North American ICI decreasing from 79.2 to 74.1. The European ICI had an up-tick of 2.1 points to 94.0 while the Asia ICI increased by 8.7 points to 110.6.
The Investor Confidence Index was developed by Kenneth Froot (pictured) and Paul O’Connell at State Street Associates, State Street Global Exchange’s research and advisory services business. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling patterns
The SS&C GlobeOp Forward Redemption Indicator for December 2018 measured 4.86 per cent, up from 3.96 per cent in November.
“SS&C GlobeOp’s Forward Redemption Indicator for December 2018 was 4.86 per cent, a year-over-year increase from the 4.18 per cent reported a year ago for December 2017,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “It is important to note with respect to this month’s indicator that December typically produces seasonally high redemptions.
“Additionally, we note the December 2018 reading of 4.86 per cent, while increased from the same period a year ago, is well below the
IronX has launched a new beta version of the IronX Exchange cryptocurrency exchange platform which aims to allow private and institutional investors to exchange traditional fiat, cryptocurrencies, forex, commodities, equities, and other tradable assets.
IronX has also launched its IRX token sale. All of those who pre-register and receive KYC approval for IronX Exchange Open will automatically earn 10.
IronX CEO Dimitris Hatzis says: “This is a milestone sale – not just for us, but for the crypto trading industry. After we received a full regulatory licence from the Estonian Financial Intelligence Unit, we now stand apart from many of
Matthias Warnig is to retire from his position as Chairman of the Board of Directors of aluminium producer UC RUSAL.
“I am confident that I can hand over to my successor a successfully developed company. My mission is completed,” says Warnig. “With the planned de-listing of the company from the OFAC’s SDN List, we stand in front of a new strategic development, also in the Board of Directors, therefore now is the optimal point in time for the chairmanship change”.
Warnig was appointed as a member of the Board of UC RUSAL Plc in June 2012 and has chaired the
iCapital Network has partnered with Rockefeller Capital Management (Rockefeller), an independent financial services firm offering global family office, asset management, and strategic advisory to ultra-net-worth families as well as institutional clients, to increase alternative investment options for the company’s investors.
As a part of the agreement, iCapital developed a customised technology platform for Rockefeller that provides access to private equity, hedge funds, real estate and private credit strategies in a seamless end-to-end process that includes subscriptions, administration, document management and reporting.
iCapital’s modular technology and service platform is purpose-built to provide a solution that is fully configurable, highly scalable, and
CQS has appointed former London Stock Exchange CEO Xavier Rolet as Chief Executive Officer. Sir Michael Hintze, CQS’ founder, will continue as CQS’ Senior Investment Officer and will become Group Executive Chairman. Rolet will begin as CEO on 14 January, 2019.
As CEO, Rolet (pictured) will lead the Firm’s next stage of growth, enabling Sir Michael to focus on investment management as SIO. Mr Rolet’s appointment will harness his management experience and leadership skills with Sir Michael’s investment acumen. Their complementary skillsets will enable CQS to more effectively meet client needs and grow.
Hintze says: “I am excited that Xavier
Euronext, the leading pan-European exchange, has approached the Board of Directors of Oslo Børs VPS Holding ASA to seek its support for a EUR625 million cash tender offer for all the outstanding shares of the Norwegian Stock Exchange and national CSD operator, headquartered in Oslo.
If its offer is accepted, Euronext, a pan-European group managing the national stock exchanges of five European countries, would be fully committed to support the development of Oslo Børs VPS and of the broader Norwegian financial ecosystem. Euronext strongly believes that Oslo Børs VPS` unique strategic and competitive positioning, including a global leading position in
November marked the global hedge fund industry’s third consecutive month of outflows, with investors pulling an additional USD6.68 billion from funds around the world, according to the November 2018 eVestment Hedge Fund Asset Flows Report.
Year to date (YTD) hedge fund outflows stand at -USD14.77 billion. Through November 59 per cent of hedge fund managers reported outflows for the year in what has been a tough 11 months for hedge fund performance.
Equity funds were a bright spot in the industry for November. Among hedge fund types, Equity funds pulled in an additional +USD3.45 billion in November and among
