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Just one of the Market Vectors Index Solutions (MVIS) six investable long/short equity indices – the MV Asia (Developed) Long/Short Equity Index – produced a positive return in July.
The MV Asia (Developed) Long/Short Equity Index rose by 1.33 per cent.
The MV Western Europe Long/Short Equity Index and the MV North America Long/Short Equity Index were the worst performers with returns of -1.71 per cent and -1.51 per cent respectively.
Each index is constructed using transparent, liquid ETFs to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
A US District Court judge has ordered former Citigroup director John Aaron Brooks to pay a civil penalty of USD500,000 to settle CFTC charges that he defrauding Citigroup by mismarking and inflating the value of his position in ethanol futures in the company’s proprietary account.
Brooks currently resides in Houston, Texas.
The order also permanently bans Brooks from registering with the CFTC; bans him for seven years from trading any CFTC-regulated products for or on behalf of others; and bans him for five years from trading, or having others trade, CFTC-regulated ethanol products on his behalf. The order further
The Credit Suisse Liquid Alternative Beta (LAB) Index was down 1.28 per cent in July, with four of the six sub-strategies finishing the month in negative territory.
The Managed Futures strategy was the strongest performer for the month, finishing up 0.23 per cent in July.
Although the Long/Short Equity strategy posted negative performance in July (-0.50 per cent), it is highest performing strategy year-to-date (+3.23 per cent.
Man Group has closed the acquisition of Pine Grove Asset Management, a US-based fund of hedge fund manager specialising in the management of credit-focused hedge fund portfolios.
Pine Grove has approximately USD1.0 billion of assets under management.
The close of the transaction further enhances Man Group’s presence in the US and adds to Man Group’s fund of hedge funds business, FRM. Pine Grove will also reinforce FRM’s efforts to offer clients a wide variety of investment opportunities including SEC-registered US 40 Act funds and complementary fund of hedge fund products.
Pine Grove is a credit-focused fund of hedge
Software AG and Adaptive Consulting have formed a strategic partnership combing Adaptive’s front office applications expertise with Software AG's streaming analytics, complex event processing (CEP), in-memory data management and universal messaging solutions.
Matt Barrett, director of Adaptive Consulting says: "Formalising our relationship by becoming a partner made a lot of sense for us. Adaptive's consultants have worked with Software AG's Universal Messaging product for a number of years and found it to be one of the most reliable, performant and feature-rich messaging products available on the market. We are now really looking forward to working with Software AG's product teams
Valu-Trac Investment Management has launched the VT WoodHill Foundation Absolute Return Fund, a UCITS-compliant UK large-cap equity OEIC authorised by the Financial Conduct Authority (FCA).
WoodHill Asset Management acts as an introducer appointed representative to Valu-Trac for work exclusively in connection with the VT WoodHill Fund. WoodHill’s Paul Wood is one of two founding partners at WoodHill and worked previously at Sloane Robinson and Everest Capital.
The fund owns a portfolio of high quality UK large capitalisation equities that are selected for strong fundamentals, including a low level of borrowings, earnings growth and value creation. When appropriate the fund
The CBOE Futures Exchange saw record trading volume in CBOE Volatility Index (VIX index) futures during non-US trading hours, with an estimated 68,033 contracts changing hands.
This record surpasses the previous record in non-US trading hours of 59,505 contracts set on 10 July.
In July, volume in VIX futures outside of regular US trading hours averaged more than 19,000 contracts per day, accounting for 9.9 per cent of CFE’s total daily volume.
The trading week for VIX futures at CFE now begins each Sunday at 5:00 pm CT and ends each Friday at 3:15 pm CT. Monday through
Funds advised by Pamplona Capital Management have sold a large holding of mortgage backed securities that forms part of a securitisation structure backed by approximately 2,000 UK mortgages with a total value of approximately GBP285 million.
Pamplona sold the securities for over GBP85 million in a competitive process to funds advised by Davidson Kempner, a major US institutional investor.
The mortgages are spread across the UK, with more than 40 per cent being in London or the South East, and are loans against both owner-occupied and buy-to-let properties.
Pamplona acquired the underlying mortgages in 2010, having bought them
Cees Vermaas, chief executive of Euronext Amsterdam and member of the managing board of Euronext, has resigned and will step down from his position immediately.
His replacement will be announced once Euronext has received approval from the regulators.
Jos Dijsselhof, chief operating officer of Euronext, based in Amsterdam, will be acting CEO of Euronext Amsterdam to ensure the smooth running of the business, until such time as the replacement is announced.
The CBOE Futures Exchange saw new single-day volume records for total trading volume exchange-wide at CFE and for futures on the CBOE Volatility Index on 1 August.
Total volume at CFE was an estimated 530,794 contracts traded, which surpassed the previous high of 452,139 contracts traded on 15 April 2013.
For VIX futures, an estimated 527,803 contracts traded, including an estimated record of 68,033 contracts during non-US trading hours. The record trading in VIX futures eclipsed the previous record of 449,955 contracts, also set on 15 April 2013.
Exchange-wide ADV during July was 197,368 contracts, a 46 per
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