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The sixth edition of the Hedgeweek Awards, presented on 27 February in London’s Mayfair and sponsored by Morgan Stanley, brought together the leading names in the global hedge funds industry to celebrate the achievements of the best performing managers and service providers in 2014.
The awards were determined by the votes of Hedgeweek’s subscribers, who include institutional investors, wealth managers, fund managers and other industry professionals at firms including fund administrators, prime brokers, custodians, law firms, custodians and advisers.
Best Macro Fund – Omni Macro Fund
Best Event Driven Merger Arbitrage Fund – Paulson & Co
Best Event Driven Distressed Fund – Foxhill Capital
The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished up 0.29% in March.
The Managed Futures strategy was the strongest performer, finishing up 4.28% in March, and remained the highest performer year-to-date, up 11.35%.
Two of the six sub indices recorded negative performance for the month with the Credit Suisse Event Driven Liquid Index and the Credit Suisse Merger Arbitrage Liquid Index finishing at -1.29% and -0.85% respectively.
CBOE Futures Exchange (CFE) has reported a month-on-month increase in March in average daily volume (ADV) and monthly total volume, both exchange-wide at CFE and for futures on the CBOE Volatility Index.
Both totals though, are down from level achieved a year ago.
March average daily volume in VIX futures was 167,591 contracts, an increase of one per cent from February 2015 and a decrease of nine percent from March 2014. Total volume in VIX futures for March was 3.7 million contracts, up 17 per cent from the previous month and down four per cent from a year ago.
JP Morgan Asset Management Global Real Assets (GRA) has launched Tactical Direct Investments (TDI), a dedicated cross-real assets group.
Under the leadership of Avik Mukhopadhyay, Head of Global Real Assets Tactical Direct Investments, the TDI team will help clients access new opportunities by leveraging the global investment capabilities of the USD82 billion in AUM GRA platform and GRA's long and successful track record of direct investing. GRA currently manages or advises more than USD17 billion of direct and co-investment transactions globally on behalf of clients.
"Institutional investors are increasingly seeking to complement their real asset fund holdings with direct investments.
Euronext has expanded its Spotlight options offering with options on GrandVision. The new products follow the company’s successful IPO on Euronext Amsterdam in February and are available for trading with immediate effect.
The contracts will have short-term maturities of one, two and three months.
In addition, Euronext intends to promote the existing Spotlight option class Altice SA to the standard options segment as of 1 May 2015. The lifetime of these contracts will therefore be extended to 12 months. On 1 May, the September 2015, December 2015 and March 2016 expiry months will be added. The extension to longer
ERI Scientific Beta, the smart beta index provider set up in 2013 by EDHEC-Risk Institute, has announced a new organisation for its Asia-Pacific activities.
Frédéric Ducoulombier becomes Business Development Director Asia ex-Japan and the Middle East. Ducoulombier is a member of the ERI Scientific Beta Executive Committee and Corporate Director of ERI Scientific Beta, the head office of which is located in Singapore.
Paul Hoff remains Business Development Director for Japan and is responsible for ERI Scientific Beta’s Tokyo office.
Ducoulombier is directly responsible for compliance, governance and transparency at ERI Scientific Beta. Frédéric Ducoulombier has spent much of his
Four out of six of Market Vectors Index Solutions (MVIS) investable Long/Short Equity Indices recorded negative performance in March.
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 Emerging Markets Long/Short Equity Index was the month’s biggest loser down 1.43 per cent followed by the Market Vectors North America Long/Short Equity Index (-0.54 per cent), the Market Vectors Asia (Developed) Long/Short Equity Index (-0.14 per cent) and the Market Vectors Global Event Long/Short Equity Index (-0.11 per cent).
The Market Vectors
ACE Limited and BlackRock have launched ABR Reinsurance, an innovative, independent reinsurance company.
Through unique long-term arrangements, ACE Group will be the sole source of reinsurance risks ceded to ABR Re, and BlackRock will be ABR Re’s exclusive investment management service provider. ABR Re will underwrite a portion of a broad selection of reinsurance treaties that ACE places with the traditional reinsurance market and will invest its assets in a diversified and dynamic alternative investment portfolio managed by BlackRock, the world’s largest investment manager.
ABR Reinsurance Capital Holdings Ltd., ABR Re’s parent company, has raised approximately $800 million of capital
To what extent have UCITS and AIFMD created market harmonisation and allowed cross-jurisdiction selling? Answers provided by Christopher Jehan of the Guernsey Investment Fund Association.
Question: How widespread is the ability of a fund in one jurisdiction to sell into another or do for example, non-EU managers struggle to access the European investor base?
Christopher Jehan: To take that in reverse I would say that yes, non-EU managers still struggle to access the European investor base. The advent of the Alternative Investment Fund Managers Directive (AIFMD) has certainly improved that for institutional investors but is still limited because the third
“Most people think that of the USD3tn we spend on healthcare in the US, USD1tn is wasted. If we succeeded in taking out that waste and were paid 20 per cent of the cost savings, it’s a USD200bn annual revenue opportunity for. It’s massive,” says Richard A Kimball, Jr, co-founder and CEO of HEXL, a healthcare technology business focused on designing beneficial programs to change the industry incentives and leverage tele-health, home healthcare, preventative care and chronic disease management.
The US healthcare system is dysfunctional and not delivering the value that our society needs. More than two times per
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