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By James Williams, Managing Editor, Hedgeweek – January proved to be a sluggish start for hedge funds. According to the Preqin All-Strategies Hedge Fund Benchmark, the average hedge fund returned 0.07 per cent although unlike James Bond, this was hardly likely to set investors’ hearts racing.
One strategy that stood out above all others was managed futures. The average CTA returned 3.10 per cent. That’s a respectable 14.72 per cent return over a 12-month period. By comparison, the average hedge fund, through January, had only returned 4.21 per cent. Macro strategies (0.84 per cent) and discretionary funds (0.48 per cent) fared
The world's emerging high-net-worth investors are raising the investment knowledge threshold and want their wealth managers to provide them with more guidance and information to help in making informed investment decisions.
That’s according to a global study released today by SEI (NASDAQ: SEIC), Scorpio Partnership, and NPG Wealth Management. The study, "The Art and Science of Relationship Management," uncovered an opportunity for today's wealth managers to serve as investment navigators, using knowledge as a competitive advantage. The 3,113 respondents polled for the survey have an average net worth today of USD2.7 million and represent the up-and-coming demographic that will make
RiverPark Advisors has launched the RiverPark Focused Value Fund (Institutional: RFVIX; retail: RFVFX), a high conviction strategy to be managed by former hedge fund manager David Berkowitz.
Berkowitz is also joining RiverPark as the firm’s new co-chief investment officer. He is seeding the new fund with USD10 million of his own money, with other RiverPark principals investing an additional USD2 million.
“For some time we have wanted to add an equity value fund to the RiverPark fund family. We were just waiting to find the right manager,” says Morty Schaja, co- founder and chief executive officer at RiverPark. “David is
CME Group has announced the first trades of its new Physically Delivered Cocoa futures contract (contract code CCP), which were launched yesterday on its European exchange, CME Europe.
A total of 240 contracts traded through four delivery months out to March 2016, with most trades taking place in the new-crop December 2015 and March 2016 contracts.
"After 18 months of working with the industry, we believe we have launched cocoa contracts that address many of the unmet needs identified by commercial market participants," says Jeffry Kuijpers, Executive Director, Agricultural Products, CME Group. "CME Group has a long tradition of offering
S&P Dow Jones Indices (S&P DJI), has launched two new indices – S&P GSCI Gold Inverse and S&P GSCI Silver Inverse – designed to provide the inverse returns of the S&P GSCI Gold and the S&P GSCI Silver indices respectively, which represent a short position in their respective underlying indices.
The S&P GSCI is the first major investible commodity index. It includes 24 commodity futures on physical commodities across five sectors: energy, agriculture, livestock, industrial metals and precious metals.
“After the record drop in precious metals in 2013 which has yet to see a rebound, many investors are looking for ways
Global asset management group Gottex Fund Management Holdings is on target to achieve operational profit by the end of 2015, according to the company’s annual results statement for 2014.
Gotten says that synergies from the merger with EIM Group (EIM) are now expected to exceed USD20 million and to be fully implemented by June 2015. As a result the group is targeting to be operationally profitable by Q4 2015.
The later than planned completion of the merger was due to regulatory delays which held up implementation of substantial synergies. Together with lower average fee rates, this contributed to an adjusted
The Securities and Exchange Commission has charged an investment adviser and her New York-based firms accused of hiding the poor performance of loan assets in three collateralised loan obligation (CLO) funds they manage.
The SEC’s Enforcement Division alleges that Lynn Tilton and her Patriarch Partners firms have breached their fiduciary duties and defrauded clients by failing to value assets using the methodology described to investors in offering documents for the CLO funds, which have portfolios comprised of loans to distressed companies. Instead, nearly all valuations of loan assets have been reported to investors as unchanged from the time they were
Global valuation and corporate finance advisor Duff & Phelps has promoted eight new managing directors.
“These eight professionals personify Duff & Phelps’ commitment to best-in-class expertise and superior client service,” says Noah Gottdiener, CEO of Duff & Phelps. “I welcome the diversity of skill they bring to our already talented team of managing directors and wish them ongoing success at our firm.”
Ann Gittleman is based in New York and is part of the Disputes and Investigations practice, having joined the firm with the recent Kinetic Partners acquisition. Gittleman acts as a consulting and testifying expert to her clients in
EBS, ICAP’s industry leading electronic FX business, is preparing to launch a new global liquidity platform, EBS Select, to complement the company’s existing multi-product offering.
EBS Market, the flagship platform, is a central limit order book with pre-screened bi-lateral credit limits and allows customers to match natural interest with other participants and leave resting orders in the market. EBS Direct, which launched in November 2013, is a fully disclosed and relationship-based platform that allows Liquidity Providers (LPs) to stream tailored prices direct to Liquidity Consumers (LCs).
With the introduction of EBS Select, customers will now have the option of trading
RWC has launched the RWC Nissay Japan Focus Fund, a sub-fund of its Luxembourg SICAV, operating as a long-only Japan equity fund focused on bottom-up stock picking and constructive engagement with its investee companies.
The fund has day one investors totalling approximately USD40 million, and has a significant pipeline.
The fund will further expand RWC’s joint venture with Tokyo-based Nissay Asset Management (NAM) and will closely replicate an existing Japanese fund that is an AIF and was launched in 2005. That fund recently marked its 10-year anniversary and has generated exceptional performance of 34 per cent over the TOPIX
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