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The Credit Suisse Hedge Fund Index finished up 1.06% for the month of February with six of the ten sub-strategies recording positive returns.
Event Driven led the way with a return of 2.25% followed by Long/short equity (1.99%), Convertible Arbitrage (0.95%) and Fixed Income Arbitrage (0.74%). The other two sub-strategies to end the month in positive territory were Multi-Strategy and Global Macro, up 0.72% and 0.42% respectively.
The month’s worst performer was Dedicated Short Bias with a return of -5.74% for the month, while Equity Market Neutral (-1/90%), Managed Futures (-1.15%) and Emerging Markets (-0.04%) also saw negative returns.
LMAX Exchange has launched LMAX Prime, a prime of prime service to provide retail brokers, hedge funds and asset managers with credit intermediation and bespoke liquidity arrangements with access to multiple venues.
LMAX Exchange will leverage its prime broker relationships, whilst also giving clients access to trading on ‘no last look’ liquidity from LMAX Exchange as well as on other execution venues.
Gareth Bowles, Head of LMAX Prime Sales, says: “There has never been more demand for the flexibility and cost advantages of prime of prime services than in the current environment. As major prime broker banks are either
The best performing ERI Scientific smart factor index in February was the SciBeta Developed High Volatility Diversified Multi-Strategy index, with a relative return of 0.99% compared to the broad cap-weighted index.
The SciBeta Developed Low Volatility Diversified Multi-Strategy index posted the lowest relative return (-1.79%). Performance for smart factor indices exposed to risk factors known to be well rewarded over long periods remains strong with annual performance in excess of broad cap-weighted indices ranging from 1.41% to 2.63% since inception for the Developed universe.
Scientific Beta Multi-Beta Multi-Strategy (MBMS) indices associate an effective choice of weighting scheme, in terms of
Market headlines were focused on the greenback last week, and how its current strength could impact the Fed’s future path of monetary policy. The dollar has been on a surge for some time now, underpinned by robust US economic data, but this was particularly prevalent following strong non-farm payroll numbers, published last Friday.
Managed account programs are largely resistant to fee compression, according to new research from Cerulli Associates
"Within the managed accounts practice at Cerulli, the questions most frequently asked by our clients relate to fees," explains Tom O'Shea, associate director at Cerulli. "Since 2008, there has been very little price change in the explicit fees that consumers pay for subadvisory separate accounts, mutual fund accounts, rep-as-portfolio-manager, and rep-as-advisor accounts. The explicit costs of all programs with the exception of unified managed accounts (UMAs) varied only three to six basis points between 2008 and 2014."
"In contrast, the explicit fee for
Asia Pacific Stock Exchange (APX) has gone live with its new trading platform powered by Nasdaq's X-stream Trading technology, as well as Genium FIX to power its APeX trading platform.
The upgrade will strengthen the exchange's technological performance using the most widely-deployed trading technology on the market.
"Nasdaq's X-stream Trading technology has the state-of-the-art capability, robustness and scalability to provide the right trading platform for our growth market as we expand our presence throughout Asia from our Australian base," says David Lawrence APX Chief Operating Officer. "Its deployment is another sign of our commitment to building an industry-leading and groundbreaking,
BATS Global Markets (BATS) has completed its acquisition of Hotspot FX, an institutional foreign exchange (FX) market, from KCG Holdings.
The transaction was announced January 28th and received Hart-Scott-Rodino clearance from the US Department of Justice on 18 February. Hotspot will continue to be led by Bill Goodbody, Jr, who has managed the entity since 2008. He and the rest of the New York-area Hotspot team will be based in the BATS office in lower Manhattan.
BATS CEO Joe Ratterman, says: “Today is a major milestone for BATS as we expand into a truly global asset class, a market whose
ALTIN AG’s share buyback through a put options programme launched on 27 February has been very successful with 3,741,610 put options out of the 3,823,867 (97.85%) having been exercised.
This corresponds to the repurchase of 374’161 shares, or 9.78% of the share capital, very near the target level of 10% set by the Board of Directors. The repurchased shares will be cancelled after approval at the Annual General Meeting on 11 May 2015 and the capital will thus be reduced by 9.78%.
The share buyback has proven very effective in reducing the discount and the difference between the NAV
Hedge funds based in the Asia-Pacific region employ women in 11 per cent of C-level positions, higher than managers in North America and Europe, according to research by Preqin.
By comparison, North America employs 10.9 per cent, while Europe-based managers have the worst representation of women in senior roles, with only 6.6% held by females. Looking at specific countries, Hong Kong has the best display of gender equality; almost 13% of senior roles at single-manager firms are held by women, and 28% at fund of hedge fund managers.
The figures though, highlight that more needs to be done. Single-manager hedge
Montreux Capital Management has boosted the team behind its Commodity Trading Fund with the addition of experienced geologist and small cap mining entrepreneur Dr Steven Newbery.
Newbery, who is joining as an advisor to the fund, has more than 25 years’ experience in the discovery of base and precious metals. He has been responsible for the establishment, capital raising and market listing of a number of mining companies and has acquired significant industry experience at an executive level in volatile market environments.
Newbery is the founder of the Dubai-based MLI Group of companies, while he also resides on and acts
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