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April 2014 average daily volume (ADV) and total monthly volume in futures on the CBOE Volatility Index (VIX Index) and total exchange-wide at CFE were down slightly from year ago levels.
Average daily volume in VIX futures was 178,167 contracts during April, a four-per cent decrease from April 2013 and a three-per cent decrease from March. April total trading volume in VIX futures was 3.74 million contracts, an eight-per cent decrease from April 2013 and a three-per cent decrease from March. Year-to-date, VIX futures total volume of 16.12 million contracts and ADV of 196,565 contracts per day are both ahead
Schroders has confirmed the launch of a new externally-managed fund on its GAIA platform – Schroder Paulson Merger Arbitrge, subject to regulatory approval. The UCITS fund will be based on the fundamental merger arbitrage hedge fund run by well-known hedge fund manager John Paulson of Paulson & Co. A minimum 85 per cent overlap between the Schroder GAIA fund and the Paulson International Limited fund is expected.
The fund is benchmark unconstrained and will target an annualised return of 8-10 per cent net of fees, with expected volatility of 6-8 per cent. The Fund can invest globally in equity, equity
BATS Global Markets (BATS) has reported a 20.7% US equities market share in April, up from 10.9% a year ago.
BATS Options, meanwhile has reported 4.2% market share, up from 4.0% one year ago. Separately, BATS Options is the lead sponsor of the annual Options Industry Conference taking place in Austin, TX.
In Europe, BATS Chi-X Europe has reported overall market share of 21.4% with average daily notional value traded on the exchange up 11.8% versus March 2013. Over the course of the month EUR364bn of pan-European OTC trades were reported to BATS’ trade reporting facility, BXTR, setting a new
Just weeks before the launch of HedgeCoVest, its new liquid alternatives platform, HedgeCo has secured a new strategic investment from GEMS Kenmar-Olympia Group.
Over the past decade, HedgeCo has built a broad suite of services for hedge funds, including capital introduction, startup consulting, fund administration, and HedgeCoVest, a new platform for investors that replicates the portfolio and trading strategies of third party hedge fund managers directly into the investors' brokerage accounts.
"Our new partnership with GEMS Kenmar-Olympia Group is a testament to the growth of HedgeCo over the last decade and an endorsement of the technology behind HedgeCoVest," says Evan
Advise Technologies, a software solutions provider for investment managers, has hired Tom Cahill as the company’s new General Manager for Europe.
This announcement comes as Advise customers complete a second round of successful Alternative Investment Fund Managers Directive (AIFMD) Annex IV filings with European regulators.
As part of a continued commitment to Europe and growth in its European client base, Advise has expanded its European presence with local staff to provide the highest level of service to clients.
Bringing 20 years’ experience in the IT and software sectors, Cahill has grown and led European operations at a number of
Columbia Management has launched the Columbia Mortgage Opportunities Fund (CLMZX), an open-end fund which will invest across a full range of mortgage-related and other structured securities.
The fund is managed by Jason Callan, head of structured assets, and Tom Heuer, portfolio manager for structured assets.
The Columbia Mortgage Opportunities Fund offers investors a top-performing management team that has the flexibility to navigate a variety of interest rate, economic and market environments.
“Columbia Management is fortunate to have one of the industry’s leading mortgage-backed investment teams, led by Jason and Tom,” says Colin Lundgren, Head of US Fixed Income. “With this
Bloomberg reports that Andrew Bazarian, a former manager at SAC Capital Advisors LP, plans to start his own Pan-Asian hedge fund betting on rising and falling stocks, according to a person with knowledge of the matter.
Bazarian left SAC’s Hong Kong office in early March, according to licensing data posted on the website of the city’s Securities and Futures Commission. He was one of four responsible officers in the firm’s Hong Kong office at the time of his departure, according to the data.
The Stamford, Connecticut-based hedge-fund firm headed by billionaire Steven A. Cohen reached a record USD1.8 billion settlement over a US
Whitebox Advisors has launched the Tactical Income Fund providing individual investors and advisors access to its fixed income managers who apply an alternative investment philosophy often associated with hedge funds.
“We think investors have come to expect too little from their fixed income allocations. With the Whitebox Tactical Income Fund, we aim to show investors that more is possible,” says Andrew Redleaf, Founder and CEO of the USD3.7 billion asset management firm. “As we have for many years for our hedge fund clients, the team will dive deeply into the fixed income market in search of unique, idiosyncratic opportunities. What we
Institutional investors are turning to smart beta indexes for their investment utility, helping to achieve broader portfolio objectives such as risk reduction and return enhancement more than basic cost savings.
That’s according to a new survey from Russell Investments, which reveals that this is especially true among those managing more than USD10 billion (35% of those surveyed).
In Canada, almost all (95%) of institutions surveyed believe investment strategy is an appropriate application for smart beta, compared to 70% among non-Canadian responders. Furthermore, nearly a third (30%) of Canadian plans are currently evaluating smart beta strategies, compared to 11% of non-Canadian
Eze Castle Integration has expanded its Information Security Consulting Service to help firms satisfy the Securities and Exchange Commission (SEC) cybersecurity guidelines.
Eze Castle Integration’s experienced consultants will create Written Information Security Policies (WISP) for clients that address the administrative and technical safeguards a firm needs to withstand a cybersecurity incident and demonstrate preparedness.
Cybersecurity threats facing the financial industry are intensifying as is the focus of the SEC to ensure firms are prepared and have detailed information security policies in place. In an April 2014 Risk Alert, the SEC stated it will conduct cybersecurity-focused exams of more than
