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Hedge funds focused on investments in Emerging Markets posted steep performance declines over the previous three months as regional equity and currency markets fell dramatically, driven in part by the devaluation of the Chinese Yuan by the Chinese Central Bank.
The HFRI Emerging Markets Index fell -4.5 per cent in August, extending the three month performance drawdown to – 9.2 per cent, according to the latest HFR Emerging Markets Hedge Fund Industry Report, released today by HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry. Total hedge fund capital invested in Emerging
The hedge fund industry produced an aggregate return of -2.19 per cent in August, dropping YTD returns into negative territory, -0.95 per cent, according to eVestment’s latest Hedge Fund Performance report.
All major market exposure produced negative returns during the month, however most outperformed asset class benchmarks.
Origination & financing strategies, hedge funds that act as lenders (varieties of ABL) or loan originators, produced an aggregate decline in August, but outperformed all other major strategies not only during the month, but year-to-date as well. Gains and losses for the group were distributed evenly across the universe, however those posting
Arthur J Gallagher has enhanced its liability and crime insurance solution for investment managers IMI Pro to provide its broadest cover yet.
The Gallagher-designed policy, backed by ‘A+’ rated capacity, responds to the needs of managers and funds by covering personal liability, civil liability and crime in one comprehensive package exclusive to Gallagher clients.
Notable enhancements include:
Full limit mitigation cover — insureds can take mitigating action immediately, without obtaining insurers’ prior consent, to the full limit of the policy. This will cover payments made and costs incurred in seeking to avoid claims that would be covered under
The London Metal Exchange (LME) has received independent confirmation that the LBMA Platinum and LBMA Palladium Prices it administers comply with the Principles for Financial Benchmarks published by the International Organization of Securities Commissions (IOSCO).
The LME engaged Ernst & Young LLP earlier this year to examine the exchange’s price-discovery process for the platinum group metals. After a comprehensive review, Ernst & Young has issued its opinion affirming the suitability of the LME’s governance process and the effectiveness of its controls, as of 30 June 2015.
“The LME fully supports regulatory efforts to promote transparency, systemic stability and better
Touchstone Investments has launched the Touchstone Credit Opportunities Fund in an effort to take advantage of market inefficiencies and relative value opportunities in the global fixed-income market. Ares Capital Management II will sub-advise the Fund.
"We are thrilled to include this dynamic portfolio in our fund family and to have the deeply experienced Ares Management team managing the Fund," says Steven M Graziano (pictured), President of Touchstone Investments. "As market conditions continue to evolve, we see significant opportunities in the credit markets with many securities poised to benefit from capital appreciation and income generation."
Touchstone incorporates a sub-advisor model
LME Clear, the clearing house for the London Metal Exchange (LME) market, has received approval from the Bank of England to accept LME metals warrants as collateral, making it the first clearing house ever to be able to offer this facility.
An LME warrant is a document of possession issued by warehouses for metal held on the owner’s behalf. This latest initiative from LME Clear will allow market participants to post this proof of ownership as collateral as part of the clearing process, giving the LME market a new source of protection against risk.
“LME Clear’s ability to take warrants
The Lyxor Hedge Fund Index was down -2.7% in August. One out of 12 Lyxor Indices ended the month in positive territory. The Lyxor Convertible Arbitrage Index (+3.3%), the Lyxor L/S Equity Variable Bias Index (-0.7%), and the Lyxor L/S Equity Market Neutral Index (-1.1%) were the best performers.
The deflation and growth scares, which built up over the summer, accelerated following the CNY devaluation. They morphed into a vicious cycle in the last week of August. With volatility reaching 55 and equities plunging by the hour, Monday 24 will from now on count among the major stress episodes used as
SS&C Technologies Holdings has unveiled its Evare Data Services Portal, a managed service for financial data acquisition, normalisation, transformation and delivery, serving as a data transformation hub for over 500 financial services firms globally.
The new real-time web-based portal redefines how financial services firms securely and efficiently monitor their data flows. To help operations teams holistically manage their client's external reconciliation, performance and accounting processes, the Evare Data Services portal offers users direct access to wide array of data such as: daily data transmissions; letters of authorisation; account reconciliation reports; and other client-specific service information. With improved visibility into their
Aegon Asset Management has appointed Kirk Buese as Chief Investment Officer of its US investment management operation, Aegon USA Investment Management (AUIM), effective 7 September.
Aegon Asset Management, the global asset management division of Netherlands-based Aegon Group, comprises asset managers in the United States, United Kingdom, China and continental Europe. AUIM is a registered investment adviser with the US Securities and Exchange Commission.
As CIO of AUIM, Buese will focus on leading its public and private fixed income, asset allocation, derivatives and hedging investment teams, and further developing its investment capabilities.
Buese has more than 25 years' experience
Chiron Investment Management, a boutique, actively-managed investment management firm led by Chief Investment Officer Ryan Caldwell (pictured)and Chief Executive Officer Enrico Gaglioti, has bolstered its executive and investment teams with the addition of five seasoned professionals.
Kristen A Richards and Shailendra P Panchal have joined the firm’s executive team. Richards will assume the role of Chief Compliance Officer and Managing Director and Panchal will become the firm’s Chief Risk Officer.
Joining Chiron’s investment management team as portfolio managers are Brian Cho, CFA and Grant Sarris, CFA. Cho will be the Head of Quantitative Research and Mr. Sarris will focus
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