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The USD492 billion (EUR368.2 billion) Europe-focused hedge fund industry produced a return of 2.1 per cent in the first half of 2014.
That is less than one-third of the 6.7 per cent returned by the benchmark STOXX Europe 600 Index.
And yet, during the period, the sector attracted an inflow of USD31.1 billion – almost the same amount as the US-focused hedge fund industry (USD31.4 billion) – which is nearly three times the size.
The latest edition of The Cerulli Edge – Europe Edition, looks at the reasons behind this underperformance, and suggests why active management will play a greater role than
Source, one of Europe’s leding providers of Exchange Traded Products (ETPs), has launched the Source JP Morgan Macro Hedge Dual Vega Target 4% TR UCITS ETF. The ETF aims to provide cost-effective exposure to volatility and is the third ETF in the JP Morgan Macro Hedge series.
Volatility is an attractive hedge in times of macro-economic stress but can be costly over the long term. J.P. Morgan’s Macro Hedge indices aim to capture spikes in volatility and, when markets are calmer, to generate a positive return.
The JP Morgan Macro Hedge Dual Vega Target 4% TR Index takes exposure to
Managed futures inched up 0.01 per cent in July, according to the Barclay CTA Index compiled by BarclayHedge.
Year to date, the index has gained 0.69 per cent.
“Market concerns that the Federal Reserve may raise US interest rates sooner than anticipated drove investors to sell risk assets,” says Sol Waksman, founder and president of BarclayHedge. “Equity prices declined, global bond yields fell, commodity prices were down, and the US dollar strengthened."
Three of Barclay’s CTA indices had gains in July, which were offset by losses in three other indices. The Agricultural Traders Index jumped 5.69 per cent,
JTC Group has opened a second representative office in the US, adding New York City to its presence in Miami.
The New York office will operate as part of JTC Group Americas, headed up by managing director of the North American region Emilio Miguel, and will serve as a hub for JTC’s growing network of intermediaries in the US and a further gateway to the fast-growing Latin American market.
JTC Group now offer its suite of private client, corporate, fund and real estate services through its representative offices in the top four global financial centres of New York, London,
The SS&C GlobeOp Forward Redemption Indicator for August 2014 measured 4.19 per cent, up from 3.15 per cent in July.
“Redemption notifications increased by about one per cent for the month, but remain moderate and in line with activity this time last year,” says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the GlobeOp
CIFC Corp has appointed Jeffrey S Serota to its board of directors.
Serota is a senior executive with significant principal investing and management experience.
Currently, he serves on the boards of directors of SandRidge Energy and Exco Resources and has served on the boards of over a dozen other public and private companies.
Serota was a senior partner and senior advisor for Ares Management until his retirement earlier in the year.
Bob Machinist, CIFC's chairman says: "We are delighted to have Mr. Serota join our board of directors. He brings years of relevant business and management experience
Redwood Asset Management, a Toronto-based investment fund manager focused on partnering with boutique investment managers to offer products to Canadians, has launched the Redwood Global Macro Class.
The fund will seek to generate superior risk-adjusted returns with lower volatility and low correlation to any other asset class.
AIP Asset Management, a Toronto-based alternative investment firm, has been selected to manage the Redwood Global Macro Class and continues its relationship which started with the Redwood Pension Class.
To the extent possible under NI 81-102, the fund will use a number of strategies not traditionally seen in global balanced mutual
Liquid Holdings Group has launched Liquid FIRM, a real-time solution that allows firms to actively monitor pre- and post-trade risks at all times across multiple accounts and strategies.
Designed for multi-manager allocation platforms, separately managed accounts (SMAs), clearing firms, prime brokers, family offices and proprietary trading shops, LiquidFIRM provides a macro look at total market exposure across all accounts in real-time, with the ability to drill into the results at the client, asset class, or issue level.
In addition to the solution’s detailed post-trade risk analyses and reporting, LiquidFIRM allows these same firms to observe the fund managers they
Highland Capital Management has launched a non-traded product line with a publicly-registered business development company (BDC) NexPoint Capital.
The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of USD1.5bn in capital for investing primarily in medium-sized businesses.
NexPoint Capital represents Highland’s initial non-traded product with the company announcing plans to introduce additional non-traded products later this year. The BDC will be distributed by Highland Capital Funds Distributor and will be led by Brad Ross, president of Highland Funds, and Brian Mitts, chief operating officer of NexPoint Advisors and head of business development
SuMi TRUST Global Asset Services, a provider of operational and administration support services to institutional asset managers, announced this week that it had completed the enhancement of its Asian business. This is in line with the organisation’s ambition to focus on three global hubs: London, New York and Tokyo.
SuMi TRUST has strengthened its operational and client service teams in all three centres with all asset servicing and client relationship activity for Japanese and Asian clients now being carried out from Tokyo, supported by the operational and administration centre in Dublin.
The Tokyo-based asset servicing team is composed of sales,
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