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More foreign hedge funds are devoting resources to China, attracted by strong returns, the potential for growth and signs that the country will continue to develop its financial markets.
As reported by the Wall Street Journal, China-focused hedge funds managed USD12.9 billion in assets as of the end of September, exceeding levels before the global financial crisis, according to Eurekahedge, which tracks the industry. In the nine months ended Sept. 30, average returns from China-focused hedge funds eclipsed those in neighboring countries, with the exception of Japan.
Last month, China announced a basic plan for a newly established free-trade zone
Krusen Capital Management has appointed Jeffrey Volk as chief operating officer and David X Martin as senior risk advisor.
“We are fortunate to have such experienced financial services professionals join the firm as we embark on expanding our alternatives solutions platform while continuing our commitment to best practices,” says Charles Krusen, chief executive. “The need for alternative investments with their lower volatility is being driven by a combination of the baby boomers entering retirement, the continued increase in longevity, and the beginning of a secular bear market for fixed income. As members of the management committee, Jeff and David will
Cantor Fitzgerald Europe is further expanding its European structured credit desk with the appointment of Sheil Aggarwal as managing director.
Aggarwal will focus on asset-back securities, mortgage-backed securities and collateralized loan obligations (CLO), and will be based in London.
"Sheil brings to Cantor a deep understanding of the structured credit market and will substantially add to our existing resources and capabilities. His appointment underscores Cantor's continuing commitment to providing clients with world-class expertise in key local markets," says Shawn P Matthews, chief executive officer of Cantor Fitzgerald & Co. "As we continue to grow and expand our platform in
Neuberger Bremen has launched the Neuberger Berman Absolute Return Multi-Strategy Fund (ARMS), following the US regulated version of the same strategy launched in May 2012.
The multi-manager product targets positive absolute returns with low market exposure, through diversified allocations to proven hedge fund strategies. At the same time, it addresses the structural drawbacks of hedge fund investing through a client-friendly UCITS vehicle.
The structure offers investors key features such as daily dealing, no performance fees at any level, a capped total expense ratio, high levels of transparency and control of assets through the exclusive use of managed accounts.
With equity markets continuing their rally into Q3 2013, the demand for alternative UCITS strategies has continued, according to the Alceda Quarterly UCITS Review.
Tracking the Absolute Hedge Alternative UCITS Index, which encompasses 454 funds, assets under management reached a total of EUR154.4bn, an increase in AUM of 2.6 per cent on the previous quarter.
Following a challenging Q2 where the sector declined 0.53 per cent, alternative UCITS strategies rebounded in Q3 2013 advancing 1.09 per cent and an overall 3.12 per cent year to date.
With the growth in AUM, the sector also saw an increasing range
Misys has appointed Martin Häring as chief marketing officer. He joins the business from the cloud-based content and application delivery network provider Akamai, where he was vice president marketing and channels.
Häring’s role is to strengthen the Misys brand and augment the customer and partner marketing organisation. His remit includes aligning marketing operations more closely to the sales and services teams, ensuring it is able to support the business fully as Misys continues along its growth trajectory.
Frank Brienzi, president and chief sales officer, says: “Martin Häring joins Misys as the company enters a new phase of rapid growth. We
More and more traders are discovering the capital savings they can receive by trading Swap Spreads using a CME-cleared Interest Rate Swap and CME Treasury Futures – a popular example of this is the "Invoice Swap" or "Invoice Spread".
These swaps may eliminate a substantial portion of Dodd-Frank margin costs. To find out how to implement this trade and unlock potential savings, read our brief paper on how it works.
Amanda Rowland, partner and head of asset management regulation at PwC commenting on the announcements made at the 2013 FCA asset management conference that took place on 30 October…
No-one in the asset management industry should be surprised at the FCA's focus on the use of dealing commissions. But today the FCA has extended its work to include banks and brokers as well as buy-side firms. Given these institutions have been less involved in the debate on dealing commissions to date, this is likely to cause a stir amongst some firms.
On fund charges, the FCA may focus less on
The Commodity Futures Trading Commission (CFTC) has approved an order granting limited purpose swap dealer (SD) designations to Cargill Incorporated and an affiliate, Cargill Financial Services International.
This is the first time that limited purpose SD designations have been granted.
Limited purpose designations involve circumstances in which the Commission, by order, designates a person as an SD for one type, class or category of swap or activities without the person being considered an SD for other types, classes, categories or activities. The Commission’s authority to grant limited purpose SD designations derives from Section 1a(49)(B) of the Commodity Exchange Act (CEA),
US domiciled money market funds' (MMFs) assets under management (AUM) increased 4.3 per cent to USD667bn in Q3, despite political uncertainty over the US debt ceiling, says Moody's Investors Service in a new report.
Euro MMFs saw a modest 1.2 per cent increase in AUM after reaching their lowest level in 12 months in June, while Sterling MMFs experienced a 1.9 per cent drop in AUM.
Euro MMFs' exposure to European financial institutions remained stable, albeit with significant shifts in country allocation. US MMFs boosted their exposure to Swedish and French banks by 27 per cent and 16 per
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