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The Lyxor Hedge Fund Index was down -0.3% in December (YTD -0.2%). 3 out of 12 Lyxor Indices ended the month in positive territory, led by the Lyxor CTA Long Term Index (+3.5%), the Lyxor L/S Equity Variable Bias Index (+1.2%), the Lyxor Merger Arbitrage Index (+0.2%).
Slower and disparate global recovery. The end of 2013 optimism was tempered in Q1. EU recovery failed to gain traction under deflationary pressures. The Japanese momentum was cut short by its consumption tax. The pulse in China peaked during the summer. EM growth continued to moderate overall, with substantial country divergences. The US
Company culture is the most important factor cited in avoiding regulatory problems, according to Kinetic Partners’ survey of almost 300 financial services professionals.
More than half (53%) of financial services senior executives said culture was the most important factor to get right in order to avoid regulatory problems. Ensuring governance is a priority amongst board members – selected by 30% of c-suite respondents – was the second-most cited.
According to Kinetic Partners’ 2015 Global Regulatory Outlook (GRO) report, fewer than one in ten (9%) of senior managers polled put their faith in risk monitoring and compliance as the key
Aggregate hedge fund performance was -0.15% in December, the industry’s fourth monthly decline in the second half of 2014, according to vestments latest monthly hedge fund performance report.
The drop brought Q4 performance to a virtually flat level, 0.03%. For the full year 2014, hedge funds returned an aggregate of +2.48%.
With their best quarterly return since Q4 2010 (six months prior to the first stage of the European sovereign crisis), managed futures strategies ended 2014 as the best performing major hedge fund strategy, returning +8.63% in 2014. The last year managed futures produced industry leading performance was 2008.
Hedge
JPES Partners, a marketing and communications consultancy specialising in the asset management sector, has appointed Toby Mitchenall and Krupa Parmar to its team.
Mitchenall joins as a Client Director from BackBay Communications, where he was responsible for establishing and growing the company’s London office. He has over 10 years’ experience in financial services communications, both in an agency role and as a journalist, and has advised clients on all aspects of strategic communications, content, branding and crisis management. Toby is a former editor of Private Equity International magazine and therefore brings a detailed understanding of the issues facing the private
The CFTC has secured a court order requiring two commodity pool operators and their principal Michael J Siegel to pay restitution of USD104,684.47, disgorgement of USD86,503.36, and a civil monetary of USD259,510.08 over the misappropriation of funds.
The commodity Pool operators – TOTE Fund and MJS Capital Management – are also jointly and severally required to pay disgorgement of USD105,185.89 and a civil monetary penalty of USD315,557.67. The court order further imposes permanent trading and registration bans against all Defendants.
The order finds that Defendants violated the Commodity Exchange Act by misappropriating funds totalling approximately USD191,689 from Monarch Futures
The value of assets under custody held on behalf of customers registered an increase of 5 per cent to EUR12.5 trillion in December 2014 (compared to EUR 12.0 trillion in December 2013).
Securities held under custody in Clearstream’s international business as international central securities depository (ICSD) increased by 7 per cent from EUR 6.3 trillion in December 2013 to EUR 6.7 trillion in December 2014 – while securities held under custody in the German central securities depository (CSD) increased by 2 per cent from EUR 5.7 trillion in December 2013 to EUR 5.8 trillion in December 2014.
For 2014, yearly
London Business School and investment management firm AQR have launched the AQR Institute of Asset Management, which is looking to advance research and best practices in the global asset management community.
AQR’s 10-year commitment makes the firm one of the School’s most significant corporate partners.
The aim of the AQR Institute is to fund and generate research in asset management, equipping individuals and organisations with the insights and tools they need to preserve and generate long-term wealth. Through its research, teaching, and outreach activities, the AQR Institute will recognise exemplary scholars in the field with annual grants and awards, will
The Chicago Board Options Exchange (CBOE) has begun disseminating values for three new CBOE volatility indexes using the prices of CME Dollar/Euro, Dollar/British Pound and Dollar/Japanese Yen futures options.
The CBOE/CME FX Euro Volatility Index (EUVIX), the CBOE/CME FX British Pound Volatility Index (tBPVIX) and the CBOE/CME FX Yen Volatility Index (JYVIX) are the first benchmarks to track the volatility of foreign exchange (FX) futures options. The underlying options are the most liquid FX options traded at the CME, and in 2014, accounted for a combined 80 per cent of the over 15 million total currency options traded at CME.
The Currency Exchange (TCX) has selected Quantifi for pricing and risk management of counterparty credit risk in emerging market currency and interest rate derivatives.
TCX acts as a market-maker in currencies and maturities not covered by commercial banks or other providers, notably where there are no offshore markets, no long-term hedging, or, in extreme cases, no markets at all. TCX decided to select Quantifi as it offered a complete solution that could be rapidly implemented to deliver more comprehensive, accurate and transparent pricing and portfolio risk management.
“We chose Quantifi for their superior analytics,” says Philip Buyskes, Vice President at
Voting for the 6th edition of the Hedgeweek Global Awards has now closed. The Awards will be presented at a lunch ceremony to be held in London and the winners will be announced in due course.
​The annual Hedgeweek Global Awards recognise excellence among hedge fund managers and service providers around the world.
Uniquely, our awards are based on a 'peer review system' whereby our readers – including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, prime brokers, custodians and advisers – are invited to elect a 'best in class' in a series of categories via an
