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MIK Fund Solutions has opened a Boston office seed with three staff currently. The move follows a recent initiative in Asia that saw the opening of an office in Shanghai.
The Boston office opens up a completely new talent pool for recruiting and hiring for MIK’s global development team. Overall, it will support the firm’s 24×7 global delivery model for software development and client support.
Over 60 multi-billion dollar hedge funds, fund of funds, and private equity funds rely on MIK for sophisticated software solutions for real-time PNL, Data Warehousing, Performance/Attribution, Compliance, Treasury Management, Security Master/Price Management, and Broker Relationship
The hedge fund industry took in USD7.2 billion (0.3% of assets) in February, the strongest inflow in the past six months and a turnabout from January’s outflow of USD11.2 billion (0.5% of assets), according to BarclayHedge and TrimTabs.
“The redemptions of USD4.1 billion in the first two months of this year stand in dramatic contrast to the inflow of USD31.6 billion in the same period last year,” says Sol Waksman, president and founder of BarclayHedge. “In the past 12 months, hedge funds added USD39.2 billion, down 57% from USD91.4 billion in the previous twelve-month span.”
Hedge fund industry assets edged
LCH.Clearnet is now offering inflation swap clearing through its SwapClear service allowing market participants trading UK, European, and US inflation-linked products to benefit from the efficiencies and enhanced risk management associated with central clearing.
Trading in inflation-linked swaps is popular among asset managers and pension funds looking to guard against rises in inflation and interest rates. Firms opting to clear inflation swaps through SwapClear are able to offset their margin requirements with correlating interest rate derivatives cleared at LCH.Clearnet.
Nathan Ondyak, Head of Products and Markets, SwapClear, LCH.Clearnet, says: “After thorough risk reviews and testing, we are proud to
Hedge funds continue to climb higher, with the Lyxor HFI up 3.5% ytd (up to 24 March). The asset class was supported this week by L/S Equity, and in particular Asian managers that have done particularly well. Their successful stock-picking captured the buoyant market environment on the long book without losing much on the short book. Over the recent months, we have been advocating the benefits of Asian L/S managers for diversification purposes and continue to do so.
Man GLG, the discretionary investment management business of Man Group has launched a new UCITS compliant fund, Man GLG European Mid-Cap Equity Alternative fund.
The Fund will be domiciled in Ireland and managed by GLG Partners LP. The portfolio manager is Moni Sternbach, who joined Man GLG from Cheyne Capital in January 2015. It will seek to provide attractive risk-adjusted returns through both long and short investments primarily in European securities with a market capitalisation of EUR500m to EUR10bn.
Moni Sternbach, a mid-cap specialist, joined Man GLG after almost three years as lead manager of the Cheyne European Mid
Indus Valley Partners (IVP), a provider of alternative asset management solutions, has made IVP Treasury 3.5 available on the cloud, allowing hedge fund managers to track, control and optimise their financing needs across counterparties including Prime Brokers and Custodian banks.
“Hedge funds are moving from a Multi-Prime model of 6-8 PBs to an Opti-Prime model of 2-3 key PB relationships,” says Bijesh Amin, co-founder and managing director at Indus Valley Partners. “This is in response to Prime Brokers scrutinizing their hedge funds clients and in some cases asking funds to move their business away if they are not sufficiently profitable. By using our
Although the MSCI World index declined 1.8 per cent in March, the real story was about equity dispersion, currencies and central bank policy, according to Anthony Lawler, portfolio manager at GAM.
In equities, dispersion of returns by geography continued in March, with equities rallying in China, Europe and Japan while selling off in the US.
In currencies, the US dollar continued its climb though the month, with the Dollar index (DXY) up over 3 per cent for the month and now up 9 per cent year-to-date. These equity and currency moves were largely explained by the differing paths of
Wavelength Capital Management, a provider of liquid alternative investments and portfolio solutions, has appointed Mark Landis as Co-Managing Partner, effective immediately.
Landis joins Wavelength from Societe Generale where he was most recently Head of Fixed Income and Currencies for the Americas. Before joining Societe Generale in 2011, Landis was a member of one of the Tiger Management "cub" firms, Touradji Capital. Prior to that, he spent 14 years at Credit Suisse where he rose to the position of Global Co-Head of Fixed Income Sales and Research and was a member of the firm's Operating Committee.
"Mark has a track record
Despite their continued uncertainty over the outlook for global economic improvement in 2015, fund managers remain optimistic about investments in equities and alternative assets over the long term.
However, managers continue to express concern over returns from government bonds, according to the Global Survey of Investment and Economic Expectations conducted by Towers Watson. The survey also found that respondents expect currencies to become a more important factor in returns and inflation to rise over the long term.
The survey showed that managers’ ongoing uncertainty over the world economy is having an effect on how they view portfolio positioning over the
The capacity conundrum continues to be one of debate and it has become increasingly apparent that it is not solved simply by the provision of an arbitrary headline number or cap. Geoff Ruddick (pictured) takes a look at the key things to consider when assessing the capacity of an independent director…
There has been an extraordinary focus on ‘numbers’ and ‘caps’ in the last few years in reference to a director’s ‘capacity’ to fulfill his or her fiduciary duties. In many respects, an arbitrary number or cap has become analogous, and arguably in some cases the sole identifying factor, of determining
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