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The Lyxor Hedge Fund Index was down 0.9 per cent in March, while first quarter performance remains slightly positive, up 0.5 per cent.
Most strategies were down apart from credit players, up 1.1 per cent, and Global Macro funds, up 0.6 per cent.
This month was particularly difficult to navigate with three main headwinds – Ukraine, China and the FOMC – having separate regional impact and global cross-asset implications.
After a bright start, most managers got hit by swings in risk aversion. Market timers were generally the hardest hit, whereas credit players, deep fundamental stock pickers, as well
Pau Morilla-Giner (pictured), Chief Investment Officer at London & Capital comments on whether the path for an interest rate rise has now been set…
When the US Federal Reserve (Fed) issued its latest statement (19.03.14), markets were less than supportive. As a result, stocks fell, the US dollar strengthened and yields rose, consistent with the market bracing for slightly higher interest rates.
What got our attention was the fact that the Federal Open Markets Committee’s (FOMC) consensus for 2015 is changing. Consensus expectations for interest rates at the end of 2015 are now 1.13%. Fed funds rate has been between zero
ML Capital, investment manager to the MontLake UCITS Platform, has launched the North MaxQ Macro UCITS Fund.
North Asset Management, a London based independent alternative asset manager, has managed the North MaxQ Macro investment strategy for more than 10 years.
The mandate is discretionary global macro, targeting a through cycle absolute return in excess of 10 per cent with 65 per cent of the risk typically allocated to countries within the European time zones. This strategy has been successful in the last few years, with fund returns of 25.2 per cent in 2011, 15.5 per cent in 2012 and
Cyber security lab I Think Security Ltd has launched LOQ, a secure information technology that keeps proprietary information and communications secure for asset managers and their high net worth clients.
“It’s our most advanced security solution yet, with outstanding features and benefits,” says Dr Cédric Jeannot, founder and CEO of I Think Security Ltd. “We’re giving asset managers a competitive advantage, while reducing risk exposure and simplifying compliance, all in one easy-to-use package.”
Information can be stored in public clouds or hosted on private clouds (behind a firewall) for companies to maintain greater ownership and to leverage cloud infrastructure.
Omada Capita has launched a stock-based lending service, which allows clients to secure loans against the broadest range of listed shares and on flexible market terms.
The launch follows a trial of the service with selected clients over the past five months, with some GBP35m of loans disbursed backed by some GBP55m of share collateral.
The service is now being officially launched and will include bonds as well as equities and be rolled out to a much wider potential client base.
Omada is looking to significantly increase the scale of its stock-based lending service, with a new business
Aventicum Capital Management has launched its second investment business, Aventicum Alternative Equities, as the group expands its presence into Europe.
Aventicum Capital Management is a multi-boutique investment management business based in Qatar and Switzerland.
Aventicum provides investors with a range of investment strategies that seek to create long-term value in a fundamentally changing investment landscape.
Based in Geneva, Switzerland, Aventicum Alternative Equities will initially focus on offering investors an absolute return approach to European markets.
It will be the second investment management business to be established under the Aventicum banner, and the first in Europe. In July 2013,
Global Prime Partners (GPP) has appointed Deutsche Bank to provide execution, clearing and custody services for its client base of emerging managers, family offices, professional traders and boutique broker dealers.
Following on from other custodial and clearing firm appointments, the most recent being BNY Mellon in November 2013, GPP provides a round-the-clock settlement solution.
Julian Parker, CEO at GPP, says: “We are excited to be partnering with another top-rated institution and are already enjoying the operational benefits that Deutsche Bank is providing. We continuously see smaller managers and broker dealers having difficulties gaining access to large, reputable institutions, but
Alternative mutual funds, also referred to as liquid alternatives or hedged mutual funds, are becoming a lot more popular with private fund managers. This has largely been driven by the requirement for hedge fund managers to register as investment advisers with the SEC. Prior to this, unregistered managers were not allowed to manage assets on behalf of US mutual funds. Now they can.
Last summer Fidelity’s Portfolio Advisory Service invested USD1bn in the Blackstone Alternative Multi-Manager Fund, in addition to joining forces with Arden Asset Management to introduce a multi-manager alternative fund. This is a big opportunity for fund of hedge fund
Michael Zimmerman's hedge fund Prentice Capital believes up to 80 per cent of consumers will embrace mCommerce in 2014, and it anticipates significant increases in the amount of money shoppers spend online via mobile.
This view is supported by research published in a report from mobile ad network InMobi which states that 83 per cent of surveyed respondents plan to use mobile commerce in the next 12 months with a further 48 per cent of respondents using mobile to influence their purchasing decisions.
Michael Zimmerman's Prentice Capital, a hedge fund that invests heavily in consumer retail stocks with strong
International Management Services (IMS) has promoted Geoff Ruddick to head of funds.
Ruddick (pictured) has also been appointed to the company’s board of directors.
Ruddick joined IMS back in 2006 as part of the senior management team and since then has contributed significantly to the success of IMS Funds Services, a division of IMS, which is one of the longest standing independent premier fiduciary service providers in the Cayman Islands.
Managing director and legal counsel for IMS, Gary Butler, says: “Geoff has gained a thorough and intimate knowledge and understanding of the organisation, its capabilities and unique competitive advantages
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