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After months of gentle simmering, America's jobs market is back on the boil in a clear sign the US economy has cranked up the gas, says Marcus Bullus, trading director at MB Capital…
In the frantic minutes that followed the release of May's surprisingly strong jobs numbers, both the dollar and Treasury bonds were the big winners as the prospect of a September interest rate hike suddenly loomed larger.
But equities balked at the thought of the increasingly imminent removal of the economy's low interest rate crutch.
It's still an open question whether the US economy will stumble
The Enterprise Data Management Council (EDM Council) has received approval for Financial Industry Building Ontology (FIBO) Foundations as the first of thirty data content standards for the financial industry.
FIBO is an open standard for defining the business terms and relationships associated with financial instruments, pricing concepts and financial processes. These “common language” standards are used to align the way financial institutions describe complex financial instruments and financial processes so that industry participants and regulators can harmonise reporting, validate data quality, aggregate transactions and analyse risks across the global financial system.
According to David Newman, Chair of the
Hedge funds posted gains for the fourth consecutive month in May, led by Equity Hedge strategies, with significant contributions from Technology, Healthcare and Fundamental Value exposures, according to the latest data from HFR.
The HFRI Fund Weighted Composite (FWC) Index® advanced +0.7 per cent for the month, bringing YTD gains for the HFRI FWC through May to +3.9 per cent, leading both the S&P 500 and Dow Jones Industrial Average, while the HFRI Fund of Funds Index climbed +1.1 per cent for May and +4.0 per cent YTD.
Hedge fund strategy performance was led by the HFRI Equity Hedge Index,
Natixis has acted as Financial Advisor, Rating Advisor, Mandated Lead Arranger and Co-Hedge Coordinator for the EUR1.4 billion senior debt refinancing of French virtual power plant Exeltium.
The operation was achieved through an innovative financing structure, combining two pari passu tranches :
• a Bank Tranche of EUR1 billion;
• a tailored Institutional Tranche of EUR435 million, secured by Exeltium and bringing together 9 institutional investors.
This refinancing, effective upon drawdown as of 4 June 2015, offers Exeltium a 15-year tenor in line with the project’s duration.
Acting as Financial Advisor, Natixis assisted Exeltium in designing an innovative
Demands and nuances of Annex IV reporting across Europe could lead to a steady adoption of an outsourcing model among PERE fund managers.
Private equity and real estate (PERE) fund managers are having to adjust quickly to life under the AIFMD, specifically in relation to Annex IV transparency reporting. The majority of managers will have gone through their first iteration at the end of January 2015, and depending on the size of assets under management, AIFMs face the prospect of filing on a semi-annual or quarterly basis; this drops to annually if the manager is considered de minimis by running
Cybersecurity issues have existed as long as the internet. What seems to have changed in the last 18 months is not only that the nature of the breaches has become more sophisticated, but also the fact that hedge funds have become a much bigger target.
For fund-of-hedge-fund (FoHF) managers, whose value-add to investors is identifying the best talent to invest with, the issue of cybersecurity and data protection has taken on far greater importance. They have to be fully satisfied that a manager’s IT network is secure, and that best practices are being adopted as far as possible.
“The cybersecurity
The majority of advisors intend to continue recommending alternative investments over the next year, yet believe the asset class has underperformed since the economic crisis, according to a new survey from Pershing.
The study, Help or Hype: Advisor Perceptions of Alternative Investments, which was released at Pershing's INSITE 2015 conference, is based on a recent survey of 1,200 advisors conducted by Pershing in conjunction with Beacon Strategies LLC, along with interviews with advisors, broker-dealer firms, registered investment advisors (RIAs) and alternative investment managers.
"Alternative investments continue to interest all investors, from ultra-high-net-worth and high-net-worth investors to the mass affluent," says
May proved a choppy month across asset classes with investor attention focused on issues such as US growth concerns and the Greek solvency question.
The US Dollar index was up 2.4 per cent, US Treasuries and German Bunds were down, equities were positive in the US and Japan, while Europe and the emerging markets were mixed with the latter suffering the negative impact from the strong US dollar.
Against a choppy market backdrop, hedge funds were broadly positive in May as reflected by the HFRX Global Hedge Fund index up 0.3 per cent. At the strategy level, three of
Balter Liquid Alternatives, a subsidiary of Balter Capital Management, has launched the Balter Discretionary Global Macro Fund, which is sub-advised by Willowbridge Associates Inc.
The co-Portfolio Managers, Phil Yang and Frank Marrapodi, utilise Willowbridge's wPraxis Trading Approach (1X Leverage) strategy and the fund's objective is to seek to generate positive absolute returns in most market conditions, irrespective of the performance of broad market indices. As a result, the performance of the fund may not be correlated with the performance of broad equity or fixed income markets.
The Balter Discretionary Global Macro Fund follows the Balter Liquid Alternatives' initial '40
Lyxor Asset Management has partnered with Corsair Capital Management to launch the Lyxor/Corsair Capital Fund a new UCITS-compliant US long/short equity strategy, and the first fund with daily liquidity within Lyxor’s Alternative UCITS offering.
The fund seeks to capture the performance of US equities with less risk, by preserving capital in down markets and using no leverage. It invests with a long bias focused primarily on US mid-capitalisation companies going through strategic and/or structural change, as those companies often have little analyst coverage and a complicated financial story. It is this information gap between market consensus and Corsair’s proprietary research
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