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Hedge funds have successfully navigated recent choppy waters, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team with the Lyxor Global Hedge Fund Index slightly down at -0.4 per cent. Strategies with the highest market beta underperformed.
The long L/S Equity strategies underperformed, specifically EM and Asian strategies, hit by trade war tensions. On the other side of the spectrum, Market Neutral funds suffered moderately from a momentum reversal and their short sensitivity to low beta stocks.
Merger Arbitrage specialists outperformed. The strategy fits well with current market conditions on the back of their low sensitivity
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has launched its framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries.
This follows the successful completion of a public consultation on the introduction of a robust crypto asset regulatory framework by ADGM Financial Services Regulatory Authority (FSRA) on 28 May 2018.
The framework is designed to address the full range of risks associated with crypto asset activities, including risks relating to money laundering and financial crime, consumer protection, technology governance, custody and exchange operations. This new framework is one
DEx.top, a decentralised cryptocurrency exchange incubated by Bitmain and based in Switzerland, has launched successfully after completing a two-week trial period.
The platform has performed over 1,400 ETH in trading volume and signed around 10,000 new users. Three new collaborations have also been agreed that will see DEx.top offer mobile app trading.
The DEx.top development team is focusing in particular on improving batch sizes, increasing transaction speed and optimising the supervision alarm mechanism.
DEx.top says its represents a new generation of crypto trading platforms by utilising smart contracts to decentralise the trading process, making everything transparent. With no
GMEX Group, a provider of multi-asset exchange trading, post trade business solutions and technology, has taken a leading role in the initial consortium to launch the Mauritius International Derivatives and Commodities Exchange (MINDEX), through the GMEX Market Advancement Programme (GMEX MAP).
It is hoped that MINDEX will become a multi-commodity and derivatives exchange platform with full regulatory oversight by the Mauritius Financial Services Commission.
Following the opening of its regional headquarters in the Mauritius International Financial Centre (IFC) last year, GMEX has been working closely with the British High Commission Mauritius and Department for International Trade (DIT) Mauritius. The DIT
Quantitative hedge fund WPT believes there’s a ‘significant’ risk of a market correction in 2018 and is preparing for probable market turbulence.
While accelerating global growth, corporate tax reform and a business-friendly administration in the US have contributed to market gains, it’s not clear these factors justify current valuations, especially considering debt to GDP levels globally.
The best global economic growth in seven years has helped a multi-year bull rally in stocks. The current S&P 500 Index’s price to earnings ratio of about 25.07 (as at 22/6/18), also the S&P 500 price to sales ratio sits a significant premium at 2.24 compared with
Dutch gas transmission system owner and operator, Gasunie Transport Services, is to use pan-European gas trading platform PEGAS for the determination and provision of the Neutral Gas Price (NGP).
Gasunie Transport Services is pleased that after a temporary use of the day-a-day reference price of PEGAS, GTS and PEGAS found a future-proof solution for determining the neutral gas price. GTS will use the neutral gas price, among other things, for the settlement of off-line allocations and Linepack Flexibility Services for shippers. The price will be provided and published by an Exchange, according to European and Dutch regulations. The neutral gas
By Jonathan Law, Dillon Eustace Cayman
Why re-domicile? Regulation – From the regulatory perspective a move in jurisdiction can result in a lighter or more substantive regime of which the manager wants to take advantage. Additionally and from time to time changes in the regulatory landscape or failure of jurisdictions to adopt and implement international regulatory changes have created issues for managers.
Operations – Operational considerations may include key service providers to the fund requesting or requiring the domicile of the fund to be moved for regulatory alignment or other reasons.
Cost – Whilst often not the sole driver for a decision to re-domicile it
Guernsey makes no excuses for wanting to attract fund managers to the island and evolve into more than simply an alternative funds jurisdiction. It is, according to Andrew Carey (pictured), Head of Locate Guernsey, an explicit position as opposed to a ‘nice to have’ position.
“We are working closely with the Guernsey Investment Funds Association to increase the number of fund managers on the island. The size of the manager community is already quite significant, it’s one of the best performing financial sectors, but there’s always room for more managers and for those that choose to come here, they will find
Jersey has a population of around 100,000 people, of whom approximately 12,000 work in the finance industry. This is an island jurisdiction with financial fund services at the heart of its economy. As such, it is able to draw upon a deep pool of talent, including graduates from UK universities as well as resident professionals with years of experience.
“We have a good talent pool here and a very buoyant financial funds industry. Talent isn’t an issue. That said, if you can’t find specific talent you are allowed to bring someone to the island. If it’s a specific role you
By Ivan Grech (pictured), FinanceMalta – Malta is, in many ways, an attractive place to do business. This applies to business in general of course, but is particularly the case for financial businesses. This includes funds, be they retail collective investment schemes, alternative investment funds or any of a wide variety of hedge funds falling under the wide umbrella of a “professional investor fund” or PIF.
There are myriad reasons for this attractiveness, starting from the regulatory and legal environment within which financial businesses and funds operate in Malta. While clearly important, these are dealt with at length in many other places,
