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India-focused hedge funds could be poised for their best performance in five years, with strong returns and inflows, according to the latest data from Eurekahedge.
India-focused hedge funds continued to deliver market-beating returns in October 2014. While the BSE benchmark Sensex index mustered a 2.7 per cent gain last month, Indian hedge funds offered a superior 3.5 per cent return in October
Year-to-date, too, hedge fund returns trumped the Sensex’s performance. According to the data, Indian hedge fund returns in the January-October period stood at 36.4 per cent, even higher than the sterling 29.2 per cent rise in the
- 06/11/2014
Wednesday’s outage at the Singapore Exchange (SGX), which disrupted trading activity for several hours, was caused by a malfunction in the uninterruptible power supply (UPS) systems deployed at the SGX data centre.
Power is supplied to the data centre from two separate substations. These sources are in turn connected to individual UPS systems providing four layers of redundancy.
Resulting from a momentary fluctuation in power supply from the substations, the UPS systems switched to its internal power source. However, the internal power source in both UPS systems malfunctioned.
This malfunction affected the hardware providing market participants’ connectivity to
- 06/11/2014
Sky Road, a managed service provider for customisable trade processing and risk platforms, has integrated the Sky Road Motion Services Platform with Bloomberg B-PIPE, a normalised and consolidated real-time market data feed.
As a result of this integration, Sky Road’s clients can now use Bloomberg data with Sky Road's surveillance and portfolio management tools.
“Buy-side firms engaged in high-volume trading across a vast number of product types and exchanges need centralised solutions. The demand for better quality data and enterprise-wide consistency is strong,” says John Borse, founder and president of Sky Road. “Offering a new option like Bloomberg B-PIPE
- 06/11/2014
BlueBay Asset Management, a specialist manager of fixed income and alternative investments, has opened an office in Zurich, Switzerland.
The new office allows BlueBay to leverage and expand existing client and strategic relationships as well as highlight BlueBay’s full capabilities as a next-generation fixed income manager to the Swiss market.
The office will be headed by Roberto Valsecchi Oliva, partner, head of sales Southern Europe. David Keel, director, sales – Switzerland, will lead the Swiss orientated business development efforts out of the new Zurich office.
“Switzerland is an increasingly important strategic and client hub for BlueBay, and Zurich’s
- 06/11/2014
The European fixed income market continues its transformation as banks implement new and more focused strategies aimed at maximising profitability.
According to a new report, European Fixed-Income Dealers Narrow Coverage Scope, by Greenwich Associates, European dealers are shedding less profitable client relationships and are competing for the business of a relatively small group of preferred customers.
“European fixed-income dealers have said many times in the past that they do not want to be all things to all people,” says Greenwich Associates consultant Andrew Awad. “This time it’s true.”
This shift in dealer strategy is having a dramatic effect
- 06/11/2014
Global markets were volatile in October with equities, credit and bond yields broadly selling-off in the first half of the month before reversing course and rallying into month-end.
This volatility and choppiness proved challenging for many investors, including hedge funds, with most cutting their risk by mid-month and therefore not fully participating in the recovery.
Global macro hedge funds produced a positive month with returns of 0.6 per cent (as measured by the HFRX Macro/CTA index) and strong momentum going into November, while the broader hedge fund universe was down 1.3 per cent on the month (as measured by
- 06/11/2014
International derivatives market Eurex Exchange reached a number of trading records in the volatility derivatives segment in October.
The existing peak – set in March 2014 – was exceeded in October with a total of 1,494,829 contracts traded. The average daily volume was 64,993 contracts in October, an increase of 78 per cent compared with January to September 2014.


Turnover in VSTOXX futures was a major contributor to the new record; these traded almost one million contracts in October (997,946 contracts), representing an increase of 87 per cent compared with October 2013. VSTOXX options showed a similarly positive performance,
- 06/11/2014
BNY Mellon has been appointed trustee and portfolio administrator for Avoca CLO XII Limited, a EUR415 million collateralised loan obligation (CLO) launched by KKR.
BNY Mellon will also act as account bank, custodian, registrar and paying agent for the CLO.
Arranged by Credit Suisse, Avoca CLO XII Limited is the third European CLO 2.0 KKR has launched. BNY Mellon has been appointed as trustee and portfolio administrator on all three issues. CLO 2.0s are those issued from 2009 onwards, following the credit crisis, and have more conservative structures, such as shorter investment periods and lower leverage.
CLO issuance
- 06/11/2014
Singapore Exchange (SGX) saw positive growth in both securities and derivatives during October.
Securities average daily value was up eight per cent month-on-month, but lower seven per cent year-on-year. Total traded value in October increased four per cent month-on-month to SGD21.7 billion, as compared to September, despite fewer trading days in the month (21 days) versus September (22 days).
October saw three new listings on Mainboard and Catalist which raised about SGD85 million. In addition, a total of 56 bond listings raised more than SGD20 billion in October, compared with 48 listings raising SGD16.5 billion a year earlier. Outstanding bonds
- 06/11/2014
ConvergEx Group, a provider of global brokerage and trading-related services, has launched a service to help hedge funds and mutual fund companies manage liquid alternatives.
Liquid alternatives are investment products that feature an alternative strategy that has been packaged into a mutual fund, ETF or other exchange-traded product.
Developed in cooperation with Portfolioshop Inc, a software development and data management firm based in New York, the service provides daily reconciliation of complex data between the three parties that are required to support liquid alternatives: the trust bank, the prime broker and the fund administrator. This reconciliation helps to ensure
- 06/11/2014
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