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Saemor Capital has reported a strong start to 2014 for its Europe Alpha Fund with a return of 2.8 per cent in January, despite the volatility caused by a sell-off in emerging markets.
The fund was up 5.9 per cent in 2013 and is up 8.5 per cent on an annualised basis over the last three years.
According to Saemor, markets are currently in a consolidation phase, while European equities have re-rated 50 per cent in absolute P/E terms since mid 2012.
While investors may be awaiting an earnings recovery, dividend momentum is turning for the better which
Andrew Lowin, Technical Director of Consulting at Kinetic Partners, comments on the FCA’s decision to give UK AIFM’s a reprieve on capital requirements under the AIFMD…
The FCA has been working with the AIFM industry to better understand the impact of their Funds Under Management (FUM) definition. Unlike managers of traditional funds, the initial basis of establishing an AIF’s value, in terms of determining the minimum amount of Regulatory Capital the Manager must maintain on its own balance sheet, could have been as much as 25 times the AIF’s NAV and extremely volatile.
The reason for this is that,
Commodities increased in January due to supply worries in livestock and to weather fundamentals supporting the energy sector.
The Dow Jones-UBS Commodity Index Total Return performance was positive overall for the month, with nine out of 22 index constituents trading higher.
Livestock was the best performing sector, up 4.32 per cent, with both lean hogs and live cattle ending the month higher. The USDA's January livestock report revealed the number of cattle on feed at the start of the year was down 5.4 per cent compared to January 2013.
Energy ended the month 3.40 per cent higher, led
ETF flows are surging in credit, according to the latest Bank of America Merrill Lynch “Follow the Flow” global research report. So far this year, there has been USD4billion of inflows into investment grade credit compared to USD2.4billion for high-yield.
Investors seem to be reverting out of emerging market debt, with USD1.4billion of outflows recorded last week. The report notes that since last May, the cumulative outflow for EM debt funds has been almost USD44.5billion. Last week, high-grade funds attracted USD603million marking the eighth consecutive week of inflows. High-yield funds attracted USD291million last week. The report noted: “Credit flows were
Smart beta investing, efficient risk diversification, liability driven investment (LDI) strategies, infrastructure and fixed income investing are among the topics to be presented at the EDHEC-Risk Days Europe 2014.
The event will take place at The Mermaid Conference & Events Centre in Blackfriars, London on 25-26 March.
The conference will open with a roundtable involving leading industry representatives and regulators and will address the topic of index transparency and investor expectations. The session will include the presentation of a survey on the transparency and governance of international indices carried out by EDHEC-Risk Institute.
The conference will also feature
Societe Generale Securities Services (SGSS) has launched an Alternative Investment Fund Managers Directive (AIFMD) reporting package for asset managers and their funds.
It is designed to cater to the different needs of SGSS’s asset management clients, allowing them to concentrate on their core investment activities whilst ensuring they are fully compliant with AIFMD.
With transposition of AIFMD into law in EU member states currently underway, reporting requirements will be progressively reinforced throughout Europe. Asset managers will be required to provide regulators with detailed reports for their companies as well as for the funds they manage or promote. This involves
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for January 2014 measured 1.39 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index, meanwhile, advanced 0.94 per cent in February.
"Net flows were positive for the month, with subscriptions outpacing redemptions by two to one," says Bill Stone, chairman and chief executive officer, SS&C Technologies.
JTC Group’s funds arm has invested in an IT platform, FrontInvest, to bolster its capabilities in the funds sector.
The platform, provided by eFront, follows best practice processes and systems and helps to ensure that JTC Group can fulfil regulatory, financial and tax reporting requirements for its growing roster of fund clients.
JTC Group’s international funds team administers both closed- and open-ended funds established in Guernsey, Jersey and Luxembourg, as well as other non-domiciled fund structures in financial centres, such as the British Virgin Islands and the Cayman Islands.
Its expertise and scope has been enhanced by the
Investor capital continued to pour into the Asian hedge fund industry in late 2013 and early 2014, with record inflows and performance driving total investor capital to surpass the record level set in 2007, prior to the 2008 Financial Crisis.
Total capital invested in the Asian hedge fund industry grew to USD112.3 billion according to the latest HFR Asian Hedge Fund Industry Report. Asset growth for both 4Q and January 2014 was driven by investor allocations, as well as performance gains. Investors allocated USD4.2 billion of new capital to the region’s hedge funds in 4Q, the highest quarterly inflows since
Alternative investment and exchange traded fund specialist Lyxor Asset Management (Lyxor) has appointed Lionel Paquin (pictured) as chief executive officer (CEO) with immediate effect.
Paquin succeeds outgoing CEO Inès de Dinechin who will leave the Group.
As well as his new role as CEO, Paquin is also joining the Management Committee of Lyxor’s Global Banking & Investor Solutions division.
Paquin was previously the Head of Lyxor Managed Accounts Platform, a position he had held since 2011. He has also held the position of Chief Risk Officer and Head of Internal Control at the firm, and has been a member of Lyxor
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