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Hedge funds gained 2.11% in September, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 7.30% year to date.
"The Fed's decision to delay tapering surprised investors and drove equity prices higher through mid-month," says Sol Waksman (pictured), founder and president of BarclayHedge. "Fears over the possible failure of US budget and debt ceiling negotiations gained momentum and equity markets sold off in the second half of September, but equities remained profitable on the month as measured by a gain of 5.0 percent for the MSCI World Index."
All but one of Barclay's 18 hedge
Trium Capital has welcomed QLO Capital to its multi-manager platform, Trium Multi-manager Alliance (TMA) – an alliance of quantitative and systematic style early stage hedge fund managers.
Managers that join TMA will be teaming up a range of like-minded outstanding hedge fund managers, sharing offices and central control function resources with each other, thus benefiting from significant economies of scale. TMA is structured so that early-stage managers meet the operational due diligence requirements required by institutional investors on day one.
QLO Capital is a global macro investment strategy that uses a systematic multi-strategy approach to investments, trading liquid futures across
Intermediate Capital Group's (ICG) Dagmar Kent-Kershaw has joined the list of confirmed speakers at the Debt Forum event in London on 13 November.
Kent-Kershaw joined ICG in 2008 and is Head of Credit Fund Management. She joined ICG from Prudential M&G where she worked for the previous seven years as Head of Structured Products, having originally founded that business. She was previously responsible for Prudential M&G’s debt private placement business.
Kent-Kershaw has extensive experience of the sub-investment grade credit and structured finance markets and has over 20 years experience in fixed income markets, also at Scotiabank and Natwest. SHe has a degree
Babson Capital Management has appointed Ricardo Adrogue and Brigitte Posch to lead the firm’s new Emerging Market Debt investment team.
Adrogue joins Babson Capital from Cabezon Investment Group, where he was a Member and Emerging Market Fixed Income portfolio manager. Prior to joining Cabezon, he was lead portfolio manager for several emerging market debt strategies at Wellington Asset Management. Posch joins Babson Capital from PIMCO, where she was Executive Vice President and Head of Emerging Market Corporates.
Adrogue, based in Boston, will head the team and oversee portfolio management activities for sovereign and local currency strategies. Posch, based in London,
Hedge funds ended the quarter in positive territory although returns differed significantly by strategy, according to Swiss alternative investment company Altin.
Equity related strategies such as Equity Long/Short, Event Driven and Equity Market Neutral (which was the best performing strategy) performed particularly well. A stock picking approach supported by a strong dispersion of returns between good and bad companies and more generally a positive, albeit volatile equity market, all contributed to deliver strong alpha.
Convertible Bond strategies also performed very well, just shy of the performance of Equity Market Neutral, thanks to an overall supportive credit and equity market environment,
Investcorp’s New York-based Hedge Fund group has appointed industry veteran, Lionel Erdely, as the firm’s Head of Hedge Funds and Chief Investment Officer.
Erdely will join Investcorp from Lyxor Asset Management, a subsidiary of Societe Generale Group with approximately USD100 billion of assets under management, where he has served as Chief Investment Officer since 2004 and CEO of Lyxor Inc since 2009. During his 11 year tenure at Lyxor he was instrumental in expanding the firm’s alternative investment business globally and growing its roster of large US-based institutional investors. Erdely served as Chairman of the firm’s Investment Committee for alternative
SuMi TRUST has appointed Hiroki Moritani and Shin Sawada as directors of the international sales team based in London.
Prior to joining the London office, Moritani (pictured) was in charge of global fiduciary business development and client services for global investors at the firm’s head office in Tokyo. He started his career at SuMi TRUST in 1996, where he has since held various positions including client portfolio management, product management, sales & marketing for institutional investors and global securities administration business. He holds an MBA from Duke University and a bachelor’s degree in Economics from Keio University in Japan.
Sawada
Northern Trust has expanded its depositary services across multiple fund types, asset classes, fund locations and investment strategies to support fund managers implementing the AIFMD.
With five new senior positions created across Europe, Northern Trust will be able to offer depositary services in the United Kingdom and The Netherlands, in addition to its existing services in Ireland, Luxembourg and the Channel Islands.
“We are pleased to expand our depositary services capabilities to all our fund manager clients across Europe,” says Toby Glaysher, head of Global Fund Services. “Our AIFMD pan-European depositary capabilities are designed to provide the best in class
Finisterre Capital, the long/short emerging market total return specialist, has launched a stand-alone, UCITS compliant fund in response to client demand stemming from Solvency II requirements.
The UCITS-compliant Finisterre Emerging Market Debt Fund launched with USD55m of seed capital and deploys a similar long/short approach to that operated across Finisterre’s existing strategies. The fund has an unconstrained mandate, and will invest in a blend of global emerging market sovereign and corporate credits, local fixed income instruments, local and hard currencies and other debt securities. The fund seeks to generate high single digit returns over the cycle and offers bi-weekly
City Financial Investment Company Limited is to launch an Asian macro fund scheduled for the first quarter of 2014, which will be managed by Geoffrey Barker.
The launch is a joint venture with City Financial Investment Company (Hong Kong) Limited from its offices at 8 Queen’s Road Central in Hong Kong.
Geoffrey was previously Director of Ballingal Investment Advisors (BIA) for more than seven years, where he set up and ran the firm’s BIA Pacific Macro Fund. During this period the BIA Pacific Macro Fund had an average annualised return of approximately 14.1% gross, 10.4% net (versus the MSCI World
