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Three Lyxor strategy indices out of 13 ended the month of August in positive territory, led by the L/S Credit Arbitrage Index (+0.51 per cent), the Convertible Bonds Arbitrage Index (+0.26 per cent) and the Event Driven – Merger Arbitrage Index (+0.04 per cent).
The Lyxor Hedge Fund Index posted a negative performance of -1.13 per cent in August (+2.02 per cent YTD).
Hedge funds lost ground in August but many alternative strategies held up well despite increased volatility across asset classes. Risk premium increased notably as investors debated the size and pace of the Fed’s tapering, considered
Patrick Moonen (pictured), Senior Strategist Multi Asset at ING Investment Management (ING IM), on European equities…
It’s not clear whether a consistent positive relation exists between the average temperature on European beaches and market performance, but since the start of the summer global investors seem to look with a different eye to the European equity market. Although we must not get carried away – as one swallow does not make a spring – we think investors did rightfully become more positive on Europe.
For a starter, Europe emerged from recession in the second quarter. The improvement was broad-based with both
Global Markets Exchange Group (GMEX) is to launch an interest rate swap (IRS) futures contract on its London Derivatives Exchange (LDX) segment.
GMEX’s new product, called a Constant Maturity Future (CMF), has been designed to address the complications for hedging interest rates that have been associated with the standard quarterly (March, June, Sept, Dec) expiring futures contracts. This is a timely launch as the industry continues to adapt to meet the G20-led market reforms to reduce systemic risk by pushing some privately negotiated derivatives onto electronic trading venues and through central counterparty (CCP) clearing houses.
As a key market targeted
Eurex Clearing has welcomed KAS Bank NV, based in Amsterdam, Netherlands, as another member of EurexOTC Clear for Interest Rate Swaps (IRS).
With this new user, the number of clearing members on EurexOTC Clear increases to 16.
The Dutch bank aims to execute self-clearing transactions in a first step. The admission of KAS Bank NV further increases the attractiveness and distribution of the EurexOTC Clear IRS service to Dutch buy-side firms.
EurexOTC Clear for Interest Rate Swaps was launched on 13 November 2012. Eurex Clearing offers fully integrated clearing and collateralization of OTC transactions and listed derivatives
Murano’s Chromic Reverse Solicitation Process (Chromic RSP) enables investors and fund managers to comply with the AIFMD reverse solicitation conditions.
Chromic is an important tool to assist in the documentation process.
Chromic enables investors to receive information directly from fund managers using the service provider’s infrastructure when carrying out searches. In this process, a service provider sends an email to the investor detailing the characteristics of a fund or funds that are potentially suitable. This email contains a button which, when clicked, will generate an email that is sent on behalf of the investor (i.e. from the investor’s
Darren Walker has been named a partner at Finisterre Capital, the USD1.6bn long/short emerging market total return specialist.
Walker was previously managing director at JP Morgan Chase, where he managed an emerging markets portfolio with an emphasis on sovereign debt, local rates and foreign exchange. He left JP Morgan Chase in March 2012 and joined Finisterre in June last year, as a portfolio manager on the Global Opportunity Fund.
Prior to joining JP Morgan Chase in 2010, Walker was a managing director at Credit Suisse, where he was employed from 2000. At Credit Suisse, he started in
Sapient Global Markets has launched a cloud-hosted version of its Compliance Management and Reporting System (CMRS).
CMRS allows firms to collate vast amounts of data from disparate systems, apply reporting eligibility logic, translate it into the destination message format, and deliver it directly to swap data repositories (SDRs) such as The Depository Trust & Clearing Corporation (DTCC).
Sapient Global Markets will offer CMRS as a cloud-based solution that enables firms to quickly build, deploy and manage applications across a global network of data centres. CMRS directly addresses OTC swaps data reporting requirements from regulations including the Dodd-Frank’s Title
The UCITS Alternative Index Global lost -0.40 per cent in August to leave it up 1.34 per cent on a year-to-date basis. By comparison the average hedge fund has returned 4.63 per cent (through July) according to Hedge Fund Research.
In many respects August was a sea of red in terms of strategy performance. Only two of 11 UAI strategies made gains, and even these were minimal: +0.63 per cent for UAI Commodities (still down -1.34 per cent YTD) and UAI Event-Driven, up +0.09 per cent (up +1.84 per cent YTD). The worst performing index was UAI CTA, down -1.42
Clients of electronic trading technology provider InfoReach can now access two of the most popular tools in the global trading community directly from InfoReach trading platforms.
New integration with the “R” programming language and a new interface for Bloomberg data fields eliminate the need for traders to toggle between software programmes to view the information they need.
The open-source “R” programming language is emerging as the dominant cutting-edge software for quantitative finance and optimisation. Designed expressly to analyse and display large amounts of data, R is now the most popular data analysis and visualisation system with more than
Ignis’ Absolute Return Government Bond Fund has seen strong performance in recent weeks following further positive signs for the global economy.
US and UK economic data has continued to be strong, particularly in the UK, where the composite PMI data is running at the highest levels since the series began in 1988. Negative concerns over Japan, China and Europe have also abated following a period of positive data.
The improving global growth outlook has prompted bond yields to rise, leading to hawkish statements from both Federal Reserve chairman Ben Bernanke and new Bank of England governor Mark Carney. This
