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Just one of IndexIQ’s family of hedge fund replication and alternative beta indices recorded a positive return in March.
The IQ Hedge Emerging Markets Beta Index, with a return of 0.89 per cent, was the only one of the seven indices to finish the month in positive territory.
The other five all saw negative returns with the IQ Hedge Event-Driven Beta Index the worst performer at -1.17 per cent followed by the IQ Hedge Fixed Income Arbitrage Beta Index (-0.99 per cent) and the IQ Hedge Global Macro Beta Index (-0.87 per cent).
Designed as investable benchmarks that
March proved to be a challenging month with the majority of alternative UCITS strategies delivering negative returns. According to figures released by Geneva-based Alix Capital, provider of the UCITS Alternative Index Global which tracks more than 700 single-manager funds, the overall return was -0.33 per cent.
The only two strategies to finish in positive territory were Multi-Strategy and Fixed Income funds, returning 0.41 per cent and 0.10 per cent respectively. The worst performers were CTA and Event-Driven funds, returning -1.10 per cent and -0.59 per cent. On a year-to-date basis Long/Short Equity funds remain the top performer, up 1.50 per
The trustee for MF Global will begin making final distributions to satisfy its obligation of full restitution for USD1.212bn in losses sustained by customers when the company failed in 2011.
The consent order, entered on 8 November 2013 by Judge Victor Marrero of the US District Court for the Southern District of New York, required MF Global to begin making final restitution payments after obtaining permission from the bankruptcy court to remedy any shortfall with funds of the MF Global general estate.
Following an unsuccessful appeal by parties to related litigation, the bankruptcy court’s order allocating estate funds to
The barriers for investment created by the Alternative Investment Fund Managers Directive (AIFMD) are still preventing investors from reaching European funds, despite solutions becoming available, according to Aurum.
Kevin Gundle (pictured), chief executive of Aurum, says: “The regulatory developments we are witnessing today are creating one of the most challenging environments for investment managers and their investors that we have seen in the 20 years we have been investing in hedge funds. Since the AIFMD leapt onto the statute books in the Summer of last year it has created confusion and concern amongst virtually all groups either managing alternative investment funds (AIFs)
Napier Park has received a managed account allocation from an investment fund managed by Topwater Capital, a division of Leucadia Asset Management.
The allocation was made to Napier Park’s strategic credit strategy managed by Ram Putcha, who has more than 30 years of experience in leading credit strategies for large multi-strategy hedge funds and alternative asset management divisions prior to joining Napier Park.
Travis Taylor, who co-heads Topwater Capital with Bryan Borgia, says: “We are extremely pleased to have added the Napier Park strategic credit strategy to our portfolio. We have tremendous respect for Napier Park as an alternative
GoldMoney has separated its digital currency-focused arm, Netagio Limited, which it launched in December 2013, from the GoldMoney group.
Chief executive officer Geoff Turk says the decision to make Netagio a standalone company is down to the dynamic nature of the digital currency business.
“It is a rapidly evolving opportunity and we felt we could best take advantage of that by creating a small, nimble operation that can be focused on the unique nature of this new market, allowing GoldMoney to continue to concentrate on its established customer base and core business opportunities,” he says.
“Netagio has been
The Amber Equity Fund, a Luxembourg UCITS fund on the Alpha UCITS Platform, has grown assets under management to USD174m only six months after launch on 2 October 2013.
The Amber Equity Fund is managed by Giorgio Martorelli at Amber Capital Italia SGR, which is a Milan-based asset management company regulated by the Bank of Italy and part of the Amber Capital Group.
The Amber Capital Group is an investment firm founded in 2005 by Joseph Oughourlian with main offices in London and New York and a current firm AuM of about USD1.7bn.
Amber Capital Italia decided in
Investcorp has appointed Jonathan Joyce as head of operational risk for the firm’s New York-based hedge funds group.
Joyce has nearly 10 years of hedge fund operations experience and joins Investcorp from FRM Investments, a subsidiary of Man Group, where he most recently served as the deputy head of business risk.
In his new role with Investcorp, Joyce will be responsible for monitoring the hedge funds group's operational risk and performing operational due diligence on all current and prospective hedge fund investments. Joyce reports to Sunil G Nair, head of risk for the hedge funds group.
"Jonathan joins
Investcorp's US-based hedge fund business and Eyck Capital Management, a London-based investment manager led by Khing Oei, have formed a strategic relationship.
The tie-up will provide Eyck Capital acceleration capital while offering Investcorp and its investors access to a specialised event-driven and distressed credit strategy spanning the European opportunity set.
Founded in 2013, Eyck Capital is the latest asset manager backed by Investcorp, which has more than USD11bn in client and proprietary assets under management. Historically, Investcorp provides initial seed and acceleration capital ranging from USD50m to USD100m.
"We are pleased to announce this strategic relationship with Eyck,
Mitsubishi UFJ Fund Services is launching a suite of services for the administration of syndicated loan portfolios using the Wall Street Office (WSO) solution provided by Markit, a financial information services company.
The new solution will enable Mitsubishi UFJ Fund Services to service all trade and portfolio management activity, allowing asset managers to focus on their core role of selecting loans.
The services also eliminate the need for clients to maintain the considerable infrastructure and specialist team required to administer loan portfolios.
The demand for asset servicing solutions for syndicated loans has grown over the past year, as
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