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Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished the fourth quarter up 0.71%, however, the overall performance for the year was down 2.52%, according to the Dow Jones Credit Suisse Hedge Fund Index 2011 Hedge Fund Market Review.
The industry also saw an estimated USD15 billion in inflows in 2011, bringing overall assets under management for the industry to approximately USD1.71 trillion. Assets have remained relatively stable, up 1% from 2010.
The Managed Futures and Fixed Income Arbitrage sectors experienced the largest asset inflows on a percentage basis in 2011, with inflows of 23%
- 26/01/2012
Kleinberg, Kaplan, Wolff & Cohen, P.C. today announced that Kelly E Zelezen and Euchung Ung have been named members of Kleinberg, Kaplan, Wolff & Cohen firm, effective 1 January, 2012.
“Kelly and Euchung are tremendous assets to our firm and our clients,” says Andy Chonoles, Kleinberg Kaplan’s managing partner. “Their dedication to the practice of law and to delivering exceptional results reflects the firm’s commitment to cultivating our attorneys’ talents to provide the highest-quality service to our clients.”
Kelly Zelezen joined the firm in 2006 and concentrates her practice on the asset management industry, where she advises managers of hedge
- 26/01/2012
- 26/01/2012
Northern Trust has enhanced its offering to Fund of Hedge Funds (FoHF) clients with a new reporting platform that provides clients with better, more flexible access to key data elements. This, the latest in a series of enhancements, is available to Northern Trust’s FoHF clients worldwide, through its Hedge Fund Monitor product.
The new Hedge Fund Monitor reporting enables clients to: extract the specific elements they need and schedule queries for key data; create customised, user defined reports to assist in meeting regulations e.g. AIFMD, Form PF; facilitate demands for transparency through an on demand flexible reporting tool; and produce
- 26/01/2012
The Financial Services Authority (FSA) has fined David Einhorn (pictured), owner of the prominent US hedge fund Greenlight Capital Inc (Greenlight), and his fund GBP7.2 million for engaging in market abuse in relation to an anticipated significant equity fundraising by Punch Taverns Plc (Punch) in June 2009.
On 9 June 2009, Einhorn was a party to a telephone conference in which it was disclosed to him by a corporate broker acting on behalf of Punch Taverns Plc that Punch was at an advanced stage of the process towards a significant equity fundraising. This was inside information and Einhorn should have
- 26/01/2012
Average pension fund allocations to hedge funds over next five to 10 years ‘will reach 15 to 20%’, says Agecroft’s Steinbrugge
Net inflows to hedge funds could reach USD100billion this year – potentially the highest since they peaked at USD194billion in 2007 – with US pension funds likely to be the largest contributors. That’s opinion of Don Steinbrugge (pictured), Managing Partner of Richmond Virginia-based Agecroft Partners, a leading a third party marketing firm that specialises in hedge funds.
At the start of the year, Steinbrugge made a number of predictions for what might happen in the industry in 2012. These
- 26/01/2012
Sandy McIntyre has been appointed to the position of chief executive officer at Sentry Investments. McIntyre, who joined the firm in 2000, will also continue in his current role as President.
John F Driscoll, Sentry’s Chairman and Director, says: "Sandy exemplifies all the qualities an excellent CEO should have – vision, leadership, talent and persistence. He has taken Sentry to new heights since he joined the company 12 years ago, including building our investment team to the point that it is recognised as one of the best in the industry. I have the utmost confidence that Sandy will lead us
- 26/01/2012
Over 40% of executives from buy-side firms across the US are not confident that the data they are receiving from disparate systems such as order management systems, accounting, performance and risk systems is consistent and of high quality, according to a new survey by SimCorp.
In addition, 67.4% of respondents believe that there is significant effort involved in reconciling data between disparate systems and sources. Approximately 22% of respondents indicated that it would take days to generate a report calculating their firm’s exposure/performance across all holdings, including derivatives (vs. minutes or hours). Nearly eight percent responded that this would take
- 26/01/2012
Following the sudden death of Andrew Dalton in April 2011, agreement has been reached, in principle, for the purchase of equity of Dalton Strategic Partners (DSP) from the Dalton family, by the executive partners of the firm.
As a result of the transaction, senior executives of DSP will control 51.5% of the equity of the firm while the Dalton Family will continue to retain a quarter of the firm’s equity. The agreement, for which Heads of Terms have been signed, is due to complete in February 2012 and will ensure that the firm remains independent and incentivises the executives to continue
- 25/01/2012
The start of this year looks very different to 2011 and 2010 even though the themes and stress points remain the same: Risk is cheaper, non government net issuance is negative, investor allocation to financials and growth related assets is low, another upturn in the global liquidity cycle is starting and Euro break up fears recently hit new highs, according to Graham Neilson, chief investment strategist, Cairn Capital…
Cairn has been taking a more positive tactical slant against a structurally bearish economic and deleveraging backdrop. A number of key catalysts for being more tactically positive fell into place during Q4
- 25/01/2012
Brian McMahon, Managing Director, Business Development Executive, has been appointed as BNY Mellon’s senior alternative industry facing executive in Luxembourg.
McMahon has particular expertise in private equity and real estate and is also being asked to develop business and relationships for EMEA in PE/RE. He previously held roles at Citi and State Street in investment services.
In addition, the company has promoted Valeria Anderson to Senior Salesperson, Vice President, in the company’s London Alternative Investment Services (AIS) business development team. She has 14 years of experience in financial services, six years of which with BNY Mellon, first in the
- 25/01/2012
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