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The equity and bond market selloff that took place recently took its toll on some hedge fund strategies. Due to their long fixed income stance established during 2014, CTAs sharply underperformed Macro managers during the market rout. Meanwhile, macro managers that had built up short positions on European rates in April proved overall resilient. Some macro managers were up 2 per cent last week while others, who were most exposed to European equities were down 1 per cent. In the CTA space, losses were broad based and reached high single digits in some cases.
- 13/05/2015
FolioMetrix is to merge with American Independence Financial Services, LLC (AIF) to create a new company, RiskX Investments, LLC, offering an array of risk-intelligent investment solutions.
The transaction is expected to close in September 2015. Terms of the deal have not been disclosed.
RiskX Investments will manage, post-merger, approximately USD1.1 billion in funds and separately managed accounts, comprised of the American Independence Funds (single-manager sub-advised funds and separately managed accounts) and the FolioMetrix Rx Fund Series (multi-strategy tactical mutual funds).
American Independence Funds offer exposure to select sub-advisors of equity, fixed income, international, and risked-managed portfolios. The AIF management team
- 13/05/2015
Duet Group, a USD5.5 billion global alternative asset manager, has appointed Ulrik Fugmann and Edward Lees has senior managing directors and Co-Chief Investment Officers of Duet Natural Resources.
Fugmann and Lees, the founders of North Shore Partners, are integrating their strategy and business into Duet, adding to the group's strong commodities and emerging market franchise.
Philippe Laraison, CIO of the Duet Commodities Fund and Partner of Duet Group, says: "On behalf of Duet Group, we are excited to announce the integration of North Shore Partners. The timing for natural resources equity investments is optimal. The synergies on research and
- 13/05/2015
Northern Trust Hedge Fund Services has called on the hedge fund industry to leverage technology and adopt clearer industry standards in data management to help close a gap in transparency expectations between fund managers and investors.
The recommendation follows a key finding from a 2014 survey of hedge fund managers and investors fielded by Northern Trust Hedge Fund Services, a leading provider of administration and middle-office services for hedge funds. The survey revealed that 55 percent of investors favor more transparency from their hedge fund managers while 98 percent of managers think investors are satisfied with the level of transparency
- 13/05/2015
Tullett Prebon Alternative Investments (TPAI) has developed and launched a screen-based matching engine called TP-AIME (Tullett Prebon Alternative Investments Matching Engine) to better facilitate transactions in alternative investments.
In addition to functioning as a price discovery and matching engine, the screen also facilitates auctions in hedge fund, private equity and real estate fund interests.
Secondary transactions in fund interests tend to be opaque. However, TPAI believes technological innovation will, in time, lead to a more robust marketplace. With thatgoal in mind, TP-AIME has been developed to increase transparency, simplify the arranging of transactions and make trade-settlement more efficient.
- 12/05/2015
International Capital Flows, a report commissioned by the States of Guernsey and supported by Guernsey Finance, has analysed the economic benefits provided to the UK and Europe by the Guernsey funds market.
The majority of the inward investment is deployed into long-term tangible assets, including private equity, infrastructure and commercial property. All of these asset classes can provide economic and social benefits to the UK.
The report estimates that European investment managers earn GBP1.8bn of fees from managing Guernsey funds, of which GBP1.1bn is earned by those in the UK. UK investors, such as pension funds, also benefit from using
- 12/05/2015
RBC Global Asset Management (RBC GAM) has added the RBC Funds (Lux) – Emerging Markets Value Equity Fund, RBC Funds (Lux) – Emerging Markets Small Cap Equity Fund and RBC Funds (Lux) – European Equity Focus Fund to its Luxembourg-domiciled SICAV range, RBC Funds (Lux).
The new sub-funds are sub-advised by RBC Global Asset Management (UK) Limited and are managed by the asset manager’s London-based investment teams.
RBC Funds (Lux) – Emerging Markets Value Equity Fund; managed by Laurence Bensafi, Deputy Head Emerging Market Equities & Senior Portfolio Manager. The sub-fund will provide investors exposure to a diversified portfolio
- 12/05/2015
- 12/05/2015
The RWC Global Growth Absolute Alpha fund has renamed the RWC Global Innovation Absolute Alpha fund in order to better describe the opportunity set. There is no change to the fund’s focus or investment process.
Fund manager, Priya Kodeeswaran, believes the way absolute return funds generate alpha is more important than which market they do it in as their net exposure to that market is generally fairly low. The team looks to outperform by investing in the part of the market where the risk/reward is highest irrespective of location. Kodeeswaran feels strongly that the optimal hunting ground is found
- 12/05/2015
Innovative technology is all around us, and hedge funds might well question its value as a differentiator in today’s highly competitive market. But that does not mean there is nothing to be gained from keeping pace with change – to the contrary, rather than relying on new developments to make themselves stand out from the crowd, funds could instead use them to develop and refine their infrastructure, thereby adding real value to the investment process.
In this white paper, Gordon Russell, Global Head of Risk at Broadridge Investment Management Solutions argues that the chances of survival in this new environment
- 12/05/2015
- 12/05/2015
Following the end of the Exchange Council’s term of office of three years, the trading participants of the European Energy Exchange (EEX) elected a new Exchange Council in accordance with the applicable schedule on 7 May 2015.
The Exchange Council represents the interest of the trading participants and is involved in all essential decisions of the exchange. It has in total 24 members and, for example, approves the rules and regulations of the exchange and changes to it. The participants vote in different election categories in order to adequately represent the different interests on the Exchange Council. The election was
- 12/05/2015
- 12/05/2015
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