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Hedge funds lost 0.54 per cent in August, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index has a positive return of 5.22 per cent year to date.
“Uncertainty over the Fed’s tapering timeline and possible US military intervention in Syria were primary drivers of an August global equities sell-off,” says Sol Waksman, founder and president of BarclayHedge. “The MSCI World Index was down 2.1 per cent at month-end.”
Returns for hedge fund strategies were mixed in August, with ten of Barclay’s hedge fund indices losing ground while eight had gains.
The Emerging
The Credit Suisse Hedge Fund Index finished down 0.54 per cent for the month of August, with six of the 10 sub-strategies in negative territory.
Managed futures was the worst performer ending the month down 2.77 per cent, followed by equity market neutral (-1.72 per cent), and long/short equity (-1.11 per cent).
The four sub-strategies to record positive performance were convertible arbitrage (0.72 per cent), fixed income arbitrage (0.21 per cent), dedicated short bias (0.03 per cent), and multi strategy (0.08 per cent).
The following funds were dropped from the Credit Suisse Hedge Fund Index in August:
Omgeo’s Central Trade Manager (Omgeo CTM) community has grown by more than 17 per cent during 2013, with the addition of 220 investment management and broker/dealer clients worldwide.
Omgeo CTM is the firm’s strategic platform for the central matching of cross-border and domestic equity, fixed income, exchange-traded derivative (futures and options) and contract-for-difference transactions. Over 1,500 firms worldwide now use Omgeo CTM, including 655 investment managers and 866 broker/dealers. In total, Omgeo has over 6,500 clients in 52 countries using its services.
The growth in the Omgeo CTM community has come from an expansion across geographies and asset
S&P Capital IQ Real-Time Solutions has partnered with Arista Networks to provide its clients with advanced data transfer speeds and improved performance via the firm’s QuantLINK offering.
S&P Capital IQ Real-Time Solutions will leverage the latest network device generation – provided by Arista Networks – to bolster its QuantLINK product, thereby improving direct market access and providing ultimate results in market data and order routing.
Dave Watkins, managing director EMEA at Arista Networks, says: “New developments in technology within the algo-trading sector are ongoing and we are keen to collaborate with leading firms in order to supply an exceptional
BlueBay Asset Management, a manager of fixed income and alternative investments, has appointed Richard Blake as director, sales – alternatives with immediate effect.
Based in London, Blake will focus on building BlueBay’s alternative business.
Blake joins BlueBay from Moore Capital Management where he was head of investor relations Europe taking responsibility for the sales and IR effort in Europe and the Middle East for Moore’s two flagship global macro funds. Prior to this, he spent more than 12 years as a researcher and portfolio manager for fund of hedge fund groups including EIM and Comas (the hedge fund
Avoca Capital has launched a long-only convertible bond fund, Avoca Convertible Select Global, a UCITS compliant Luxembourg SICAV offering daily liquidity.
This follows Avoca’s move in November 2011 to further extend its product offering and partner with an experienced team of specialists in convertible bonds. This asset class is in increasing demand with investors attracted to the combination of debt protection with equity upside participation.
The new fund formally opens Avoca’s convertible bond offering, which was launched in April 2012 to manage partner capital, to a wider investor audience. The team has returned 16 per cent after fees
FIX Trading Community, the non-profit industry-driven financial trading standards body, has published updated guidelines for the electronic trading of bonds and swaps using the FIX messaging standard.
The guidelines have been designed to enable market participants to benefit from cost effective and efficient connectivity to the growing number of bond trading platforms, emerging swap execution facilities (SEFs) and upcoming organised trading facilities (OTFs) set to launch across the US and European markets.
As regulatory requirements, in the form of Dodd Frank, MiFID II and Basel III, seek to enhance transparency, reduce risk and increase capital requirements, a new
Apex Fund Services has marked its 10 year anniversary with the launch of its latest service, Apex Capital Introduction Services (Apex CIS).
Apex CIS will assist fund managers with raising new capital through the experience and investor relationships of Leah Cox, managing director of Apex CIS. Cox has spent over 15 years working in financial services and previously worked with Bear Stearns and Deutsche Bank.
This is the first time an independent fund administration company has provided a dedicated capital introductory service.
Apex CIS will prepare and advise Apex’s clients on the most effective way to raise
The SEC has charged the owner of a New York-based investment advisory firm with defrauding investors while grossly exaggerating the amount of assets under his management.
The SEC alleges that Fredrick D Scott of Brooklyn, New York, registered his firm ACI Capital Group as an investment adviser and then embarked on a series of fraudulent schemes targeting individual investors and small businesses.
Scott repeatedly touted ACI’s registration under the securities laws and falsely claimed the firm’s assets under management to be as high as USD3.7bn to bolster his credibility when offering too-good-to-be-true investment opportunities. As Scott solicited funds from
The US Commodity Futures Trading Commission has approved the applications of SwapEx, GFI Swaps Exchange and MarketAxess SEF Corporation for temporary registration as swap execution facilities (SEFs).
SwapEx is a Delaware limited liability company and is an indirect wholly-owned subsidiary of State Street Corporation, a Massachusetts corporation.
GFI is a Delaware limited liability company and is an indirect wholly-owned subsidiary of GFI Group, a Delaware corporation.
MarketAxess is a Delaware corporation and is a direct wholly-owned subsidiary of MarketAxess Holdings, a Delaware corporation.
A SEF is a category of CFTC registered entities created by the Dodd-Frank
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