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Hedge funds declined in August as global equity markets experienced sharp losses led by uncertainty over Chinese growth, falling oil prices and the timing of US Federal Reserve interest rate increases, according to data released by HFR.
The HFRI Fund Weighted Composite Index® (FWC) fell -1.87 per cent for the month to an NAV of 12443.31, paring the YTD performance for the FWC to a gain of +0.2 per cent. The August decline for the FWC was the worst monthly performance since May 2012. Following several years in which the HFRI trailed strong equity market gains, the FWC has outperformed
- 09/09/2015
Euronext has expanded its Spotlight options offering with new options on Flow Traders NV (FLW), a technology-enabled liquidity provider that specialises in exchange traded products (ETPs).
The options follow the company’s successful IPO on Euronext Amsterdam in July this year and are available for trading as from 14 September.
In addition, Euronext promoted the existing Spotlight option classes Euronav (option trading symbol: EUN) and BE Semiconductor Industries (option trading symbol: BES) to the standard options segment which means that the lifetime of these contracts will be further extended. The extension to longer maturities follows the lively trading in these
- 09/09/2015
Sigma Analysis & Management (Sigma), a specialist in advising institutional investors on managed account solutions, hedge fund portfolio construction and research, and risk analytics, has appointed Megan Vesely, JD as General Counsel.
Vesely joins Sigma at its Toronto office to provide legal counsel on a variety of business and regulatory issues including cross-border matters and corporate development in the financial services industry.
“I am thrilled to join Sigma at a time of increased global regulation and change in the investment industry,” says Vesely. “Through its innovative model for hedge fund investing, Sigma is well positioned to lead investors
- 09/09/2015
Forex Capital Markets (FXCM) is to pay USD843,000 to settle CFTC charges that it failed to diligently supervise its officers’, employees’, and agents’ handling of accounts held at FXCM in the name of a fraudulent foreign currency exchange pool, Revelation Forex Fund (RFF).
RFF was operated by Kevin G White (White) and two entities he controlled (the White Entities).
The CFTC sued White and the White Entities on 9 July, 2013, for their fraudulent scheme and subsequently entered into a Consent Order for permanent injunction against them. In a related criminal action, White was sentenced to over eight years of
- 09/09/2015
Monument Group, an independent alternative investment fund placement agent, has hired three professionals to join Managing Director Niklas K Amundsson (pictured) in the firm’s Hong Kong office.
The new additions to the Monument team are Albert Jun, Director, Sabrina Meng, Senior Associate and Kris Ho, Operations Manager.
The Hong Kong team will be based at Monument Group’s new permanent offices in Two Exchange Square, the hub of the local private equity community.
Amundsson joined Monument Group in January 2015 as a Managing Director to help the firm expand its Asia footprint. Before joining Monument Group, Niklas spent over
- 09/09/2015
Prytania Investment Advisors has appointed Shaun Curry (pictured) as Head of Business Development (ex-US) with effect from 3 September 2015.
Prior to joining Prytania, Curry was a Senior Business Development Executive at Stenham Asset Management and a Director of Marketing at Gottex Fund Management. Prior to his work on the buy-side, Shaun worked in sales and trading at Credit Suisse First Boston and research and sales at Merrill Lynch International.
At Prytania, Curry will be responsible for institutional Business Development across the globe with the exception of the United States. His extensive relationships and experience working with institutional investors
- 09/09/2015
The LuxHedge Global UCITS Index fell by 1.64 per cent during August, one of the worst monthly performances experienced in years. This strong decline reflects the catastrophic trend exhibited by the global markets.
The equity markets massively suffered with -9.10 per cent in Europe, -6.02 per cent in the United States (US), -9.01 per cent in Emerging Countries and -6.55 per cent for the MSCI World Index.
“Under these circumstances, we gave a careful look at the long/short equity strategies, assessing if the managers could float in these very troubled waters,” says the LuxHedge Research Team. “The answer is
- 09/09/2015
BP Capital Fund Advisors (BP Capital TwinLine) has selected Ultimus Fund Solutions’s Advisor Solutions Group to provide a full suite of middle-office services for the firm’s institutional BP Capital TwinLine Separately Managed Accounts.
By leveraging Ultimus’ depth of operational knowledge and industry-leading technology, the BP Capital TwinLine team will be able to focus on its core business functions while diversifying its product offering. BP Capital TwinLine is the latest firm to join the growing middle office outsourcing trend, as advisors look to gain efficiencies and access expertise without tying up critical internal resources or licensing and operating expensive technologies.
- 09/09/2015
Bloomberg STP Solutions and Traiana have developed a straight-through processing infrastructure to further streamline the workflow of foreign exchange (FX) options. The solution integrates Traiana's Harmony messaging network with Bloomberg's trade processing tools.
"As the FX market reaches greater levels of automation, FX options, with their complex instrument structures and numerous post-execution events, continue to involve manual processes which present operational risks and challenges to market participants," says Ben Macdonald (pictured), Bloomberg's Global Head of Product. "We believe that providing a decentralised solution to both buy and sell side participants offers them the flexibility needed for broad market coverage and
- 08/09/2015
BCS Global Markets (BCS), the international arm of BCS Financial Group, has appointed Adam Wood to the position of Director in the Prime Brokerage Sales team in London.
In his role, Wood will work to maintain and establish strong relationships with high frequency traders, proprietary trading firms specialising in arbitrage and major hedge funds across accounts in the United Kingdom, Continental Europe and United States.
Prior to joining BCS, Wood worked as a relationship manager at ABN AMRO Clearing Bank, where he was responsible for business development and sales with buy-side and proprietary trading firms across global accounts. Prior
- 08/09/2015
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