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The Lyxor Hedge Fund Index was up slightly (+0.3 per cent) in December, with four out of eight Lyxor indices recording positive results.
CTAs finished on strong gains due to high diversification within portfolios. Long allocations to energy, DM equities and their stance on USD (short JPY, long EM FX) provided them with tailwinds.
L/S Equity Neutral managers lagged due to sector rotation and their sensitivity to momentum stocks.
Long materials and energy positions boosted the L/S Equity Variable bias funds in December.
Merger Arbitrage outperformed their peers, fuelled by tightening of M&A deal spreads including Time
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for December 2017 measured 0.84 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 1.35 per cent in January.
“SS&C GlobeOp’s Capital Movement Index for January 2018 showed net flows of -1.35 per cent, which should be viewed as a very strong result considering January typically produces significant net outflows for hedge funds,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “In fact, on a year-over-year basis, the -1.35 per cent for January 2018 represents a sharp improvement from the -3.30 per cent reported
Societe Generale Prime Services has launched a new SG Multi Alternative Risk Premia Index, a performance benchmark for alternative risk premia managers who employ investment programs diversified across multiple asset classes and multiple risk premia factors.
The new Multi Alternative Risk Premia Index is the fifth daily index designed and calculated by Societe Generale. The Prime Services daily indices are an industry leading suite of performance benchmarks, based on the largest, most representative programs in their respective strategies. The indices calculate the daily rate of return for an equally weighted group of managers that are open to new investment and
SS&C Technologies Holdings is to acquire DST Systems, a provider of proprietary technology-based information processing and servicing solutions.
Under the terms of the agreement, SS&C will purchase DST in an all-cash transaction for USD84 per share plus assumption of debt, equating to an enterprise value of approximately USD5.4 billion.
DST is a global provider of specialised technology, strategic advisory and business operations outsourcing to the financial services and healthcare industries. DST provides solutions through a unique blend of industry knowledge and experience, technological expertise and service excellence to clients across asset management, brokerage, retirement and healthcare. Headquartered in Kansas
PineBridge Investments, a private, global asset manager, has appointed Michael Karpik as Chief Operating Officer (COO).
Karpik, who will be based in PineBridge’s New York City headquarters and will report to CEO Gregory Ehret, will be directly responsible for the firm’s global operations, finance, compliance, risk management, product management, funds, and technology functions.
“Mike’s skill set and experience are a great fit for PineBridge,” says Ehret. “As we continue to grow and evolve as a firm, we are focused on having a strong and scalable operational infrastructure that keeps pace with our progress, anticipates our clients’ needs, and addresses
Northern Trust Corporation has reached an agreement with Citadel to bring Omnium technology development in-house – including a team of key development professionals as well as software development rights for its Omnium technology platform.
The agreement gives Northern Trust greater control over technological enhancements. Additionally, the transaction enables deeper collaboration between Northern Trust’s operations professionals and the team of developers to provide innovative solutions for alternative fund managers, asset managers, institutional investors and family offices worldwide.
Northern Trust acquired Citadel’s hedge fund administration business (Omnium®) in 2011 and licensed their middle and back office investment technology. That business, now
Cohen & Company has opened a new office in downtown Chicago, Illinois and announced several significant management-level hires.
The firm recently announced it had merged with Arthur Bell CPAs to create the premier, full service accounting and consulting practice supporting asset managers with the best talent, technical expertise and client service approach. This announcement illustrates Cohen & Company’s follow-through on that strategy.
As a leading US financial marketplace, Chicago is home to many of Cohen & Company’s existing clients. The new office is led by Vince Curttright, an audit partner formerly with a large, national firm. Vince brings over
Gemini saw a surge in hedge and alternative fund clients during 2017, and expects this strong momentum to continue into 2018.
David Young (pictured), President of Gemini’s hedge funds and alternatives business lines, says: “We have a track record of responding rapidly when managers need to get to market with unique strategies, instruments, and specialised wrappers. Our team-based consultative approach enables us to support new investment structures, instruments, accounting methods, portfolio affects, and asset types.”
To support this continued growth and expansion, Gemini recently promoted Skyler Steinke to Senior Vice President of Business Development for Hedge/Alternatives.
Steinke says:
Fenimore Asset Management (FAM) has selected Ultimus Fund Solutions to provide services for its three mutual funds, with USD1.6 billion in net assets.
FAM, a Cobleskill, New York based firm, converted the servicing of their funds to Ultimus after performing the functions internally since the inception of the funds in 1987.
FAM hired Ultimus to provide fund administration, fund accounting and financial reporting services for the FAM Funds which include: FAM Value Fund, FAM Equity-Income Fund, and the FAM Small Cap Fund. Ultimus has also been hired by FAM Funds to provide Chief Compliance Officer services to these three
Thomson Reuters has successfully gone live with its key MiFID II services, helping the financial services industry meet the new regulatory requirements.
The new services are part of Thomson Reuters’ commitment to providing a comprehensive suite of solutions to assist the financial services industry with ensuring ongoing compliance with MiFID II requirements.
Services with major updates since 3 January include: updated MiFID II compliant data already available to clients from 57 global exchanges, and eight new MiFID II trading and reporting venues, including Tradeweb’s Approved Publication Arrangement (APA) and MTS BondVision’s Multilateral Trading Facility (MTF); an enhanced Multilateral Trading
