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Point72 Asset Management (Point72), the family office managing the assets of its founder, Steven A Cohen (pictured), and eligible employees, has named Joshua Varsano to lead its Human Resources (HR) group.
Varsano will be responsible for managing all of Point72’s HR operations, including: compensation and benefits; Investment Services talent acquisition; the talent management and promotion processes; and the Firm’s HR Generalist team.
“Josh has a strong record of leading innovative transformation across recruiting, leadership, and overall talent management organisations. His expertise and experience are assets as we continue to transform the human capital platform and culture of Point72 in
The hedge fund industry produced an aggregate return of -0.77 per cent in December. The decline was the industry’s fifth negative month in the second half of 2015 and eighth of the year, according to eVestment’s latest Hedge Fund Performance report.
Aggregate industry returns were negative in 2015 for only the third time on record at -2.01 per cent.
Despite overall industry returns being negative in 2015, the distribution of returns across funds was nearly even in terms of the availability of positive vs. negative annual performance (49 per cent positive, 51 per cent negative). The average positive return
The US Commodity Futures Trading Commission (CFTC) has issued an order granting Eurex Clearing AG (Eurex Clearing) registration as a derivatives clearing organisation (DCO) under the Commodity Exchange Act (CEA).
Under the order, Eurex Clearing will be authorised to provide clearing services for swaps for US clearing members as well as their customers under Section 5b of the CEA. The registration will become effective after Eurex Clearing meets CFTC’s “straight-through processing” requirements. Eurex Clearing requested that CFTC issue a conditional registration, as it preferred to comply with those requirements in the future, at the same time as it complies with
All six of Market Vectors Index Solutions (MVIS) investable Long/Short Equity Indices recorded negative performance in January.
Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Global Long/Short Equity Index was the month’s biggest loser down 4.84 per cent, closely followed by the Market Vectors Western Europe Long/Short Equity Index (-4.34 per cent) and the Market Vectors Asia (Developed) Long/Short Equity Index (-3.36 per cent).
The Market Vectors Global Event Long/Short Equity Index, Market Vectors North America Long/Short Equity
Preqin’s 2016 Global Hedge Fund Report finds that 2015 was another challenging year for the industry, during which the Preqin All-Strategies Hedge Fund benchmark recorded gains of 2.02 per cent, compared with 4.65 per cent in 2014.
Despite this, total industry AUM increased by USD178 billion to reach USD3.2 trillion as of November. Thirty-seven percent of surveyed fund managers said that they have seen an increase in institutional capital in 2015, and 59 per cent reported that their total AUM had increased. Overall the industry saw net inflows of USD71.5 billion, but this gain occurred entirely in H1, as H2
The Chicago Board Options Exchange plans to list S&P 500 Index (SPX) Wednesday-expiring Weeklys options beginning 23 February, 2016.
CBOE's new SPX Wednesday-expiring Weeklys options, or "Wednesday Weeklys," will generally have the same characteristics as CBOE's Friday-expiring SPX Weeklys options, with the exception of their listing and expiration dates. Wednesday Weeklys will typically be listed on Tuesdays and expire on the Wednesday of the following week.
SPX options continue to be the most actively traded US index option and, in 2015, set a new annual volume record of 236.5 million contracts, with average daily volume (ADV) of 938,620 contracts,
For many start-up fund managers, the prospect of setting up a hedge fund in today's regulatory climate can feel like swimming upstream. That is why the turnkey solution offered by fund administrators, which allows managers to work with one service provider to get all aspects of their fund up and running, is still so appealing.
"We are able to offer a one-stop-shop solution and take care of everything when it comes to setting up a fund," says David Payne (pictured), Director of Circle Partners BVI, an independent BVI-licensed global fund administrator, and Business Development Manager of AMS Financial Group, an
Despite being a relatively new entrant to the BVI, global law firm Mourant Ozannes is fielding its fair share of enquiries in relation to fund formation. The firm established its BVI office with Corporate, Finance and Litigation practices in 2012, followed 18 months later by its investment funds practice.
Rachael McDonald (pictured), Managing Partner, Mourant Ozannes (BVI) believes that the recent introduction of the approved and incubator funds will prove to be a great addition to the BVI's funds armoury: "We're seeing our fair share of enquiries and new instructions with respect to these funds. Both products are being well
Since the BVI introduced the Approved Manager regime at the end of 2012 demand has been encouraging, but it has taken time to build. Currently, there are 101 Approved Investment Managers licensed in the BVI, based on figures published by the Islands' financial regulator, the BVI Financial Services Commission (as of 30 September 2015).
That the BVI now has a set of funds – the Incubator Fund and Approved Fund – to complement this lighter touch regulated fund manager regime augurs well for the future. But like the Approved Manager, it will take time for fund numbers to pick up.
ATU Fund Administrators (BVI) Limited was the first fund administrator to receive a license from the Financial Services Commission in the BVI on 30th December, 1997. By the early 2000s it had grown to become the largest fund administrator on the islands.
The firm grew steadily until the financial crisis struck in 2008 and in the aftermath, it was decided that the company, which was part of a joint venture with Liechtenstein-based VP Bank and Allgemeines Treuunternehmen (ATU), would be acquired by ATU in full. During the same period, its sister company, ATU General Trust (BVI) Limited, was experiencing very
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