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London-based Nevsky Capital is closing its USD1.5 billion hedge fund, citing the rise of algo trading and bear market fears as reasons for the closure. The Nevsky fund is expected to liquidate its portfolio and move into cash by the end of this month.
In a statement to investors CIO Martin Taylor (pictured) says: “After 15 years of managing the Nevsky fund, we have come regretfully to the conclusion that the current algorithmically driven market environment is one which is increasingly incompatible with our fundamental, research orientated, investment process.”
Taylor adds: “The bear market in emerging market equities, which began
Alternative Investment Management, (AIM), a privately-owned investment management firm has appointed Ryan Quinn as managing director, focusing on portfolio management and researching hedge fund and private equity managers and investments.
Quinn is also a member of the firm’s Investment Committee.
“We are excited to have a professional of Ryan’s caliber join our growing investment team,” says AIM Partner Jonathan Harris. “Ryan’s experience in various facets of financial services – including portfolio management and investment manager selection – will be beneficial to our investment and due diligence process. I am also confident that Ryan will make immediate and positive contributions
Akram & Associates, Certified Public Accountants, have established a presence in New York City with the opening of a new office at 347 Fifth Avenue.
Mergermarket Group has acquired Creditflux, a provider of intelligence, analysis, data and events covering CLO and credit fund pricing, investments, trading and returns.
The acquisition accelerates the global expansion of Mergermarket Group’s extensive real-time fixed income intelligence and data provision.
The company’s Debtwire and Xtract Research products already deliver insight and analytics on corporate high yield, distressed and restructuring situations.
“We are very excited to fortify the growth story of our global fixed income division with the acquisition of Creditflux, a highly regarded and trusted source of CLO and credit fund intelligence and data,” says Hamilton Matthews, (pictured)
This year remained macro driven, dominated both by monetary policies and the shifts in deflation scares, themselves function of the stance regarding the Chinese transition and oil prices. Four phases paced markets and hedge funds trends:
Elian has strengthened its fund services team in Guernsey with two new appointments and a senior promotion.
Kees Jager has joined Elian as an associate director and will lead the local Fund Services team. Working closely with Jager, Leasa Callaway has been promoted to manager and Sally Ann Brehaut has joined the firm as an assistant manager – compliance.
“Elian is building a reputation as a progressive and exciting firm, with a very bright future,” says Tom Amy, managing director of Elian in Guernsey. “We are always looking to strengthen our teams, to further enhance the service we offer
Martin Currie has now received the necessary approvals to complete the purchase of the business assets and investment management team of PK Investment Management, the London based long/short Japan Equity boutique.
Led by Paul Kirkby, the team now includes Martin Currie incumbent manager, Claire Marwick. Overall assets under management for the enlarged team are USD425 million.
Kirkby has also been appointed as lead manager of the Legg Mason Japan Absolute Alpha Fund the Luxembourg domiciled UCITS fund.
Andy Sowerby, Head of Sales and Marketing at Martin Currie, says: “This is an exciting milestone in the development of our
Consolidated trading volume for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE), totalled 1.2 billion contracts in 2015, a decrease of 11 per cent from the record 1.3 billion contracts in 2014.
Average daily volume (ADV) was 4.7 million contracts on the year, a decrease of 11 per cent from the record 5.3 million contracts per day in 2014.
Several trading records were set at CBOE and CFE during the year. Index options trading at CBOE reached a new all-time high for a third consecutive year,
Balter Liquid Alternatives has launched the Balter European L/S Small Cap Fund (BESMX) and the Balter Event-Driven Fund (BEVIX), both conversions of existing hedge funds into a mutual fund wrapper.
The Balter European L/S Small Cap Fund is sub-advised by SW Mitchell Capital, a USD2 billion European equity specialist based in London, UK. The Fund has an 8+ year record with an annualised return of 10.6 per cent. Portfolio Manager Jamie Carter uses a bottom up fundamental security selection process. The Fund's investment objective is to generate absolute returns for investors, primarily by investing both long and short in Small
Affiliated Managers Group (AMG) has completed its investment in Systematica Investments. In addition, AMG has also recently completed investments in Ivory Investment Management (Ivory) and Abax Investments (Abax).
Systematica, led by Leda Braga, is an technology-driven firm focused on the application of science and technology to the investment process and focuses on managed futures and systematic trading management. Systematica became an independent organisation in January 2015 following its separation from BlueCrest and now offers a number of distinctive strategies, including trend-following and quantitative equity investing in both traditional hedge fund vehicles as well as liquid alternatives.
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