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All seven of IndexIQ’s investable hedge fund replication and alternative beta indices recorded positive returns July.
The IQ Hedge Long/Short Beta Index led the way with return of 2.99 per cent followed by the IQ Hedge Event-Driven Beta Index (2.89 per cent), the IQ Hedge Global Macro Beta Index (2.04 per cent) and the IQ Hedge Composite Beta Index (2.04 per cent).
The IQ Hedge Emerging Markets Beta Index was the worst performer recording 0.90 per cent while the IQ Hedge Fixed Income Arbitrage Beta Index and the IQ Hedge Market Neutral Beta Index, returned 1.32 per cent
July was a strong month for equities with both the MSCI World index and the S&P 500 index up over five per cent for the month in US dollar terms, according to GAM’s latest hedge fund performance update.
Investment grade and high yield credit in the US and Europe rallied with notably large investor flows into US high yield. The US dollar reversed with the DXY index showing the dollar down 2.0 per cent against the index basket of currencies for the month.
Hedge fund performance for July was in aggregate positive but delivered a mixed bag of
The Commodity Futures Trading Commission has notified the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) of the results of a rule enforcement review completed by the Commission’s division of market oversight.
The review covered the target period from 1 November 2010 to 31 October 2011. The division assessed the exchanges’ compliance with Core Principles 4 and 5, pre- and post-Dodd–Frank Act, relating to the exchanges’ market surveillance programme. The division’s findings and recommendations were limited to CME and CBOT and their respective products, and did not address the market surveillance programme at any other CME
Man Group has reported funds under management (FUM) at 30 June 2013 of USD52.0bn (31 December 2012: USD57.0bn), reflecting sales of USD6.5bn, redemptions of -USD11.5bn, investment movement of USD2.5bn, FX translation effects of -USD2.4bn and other movements of -USD0.1bn.
The group saw mixed performance in the six months to 30 June 2013, with AHL Diversified Programme down 3.2 per cent; GLG Multi-Strategy up 5.1 per cent; FRM Diversified II strategy up 3.1 per cent; and Japan CoreAlpha strategy up 41.4 per cent.
Adjusted profit before tax (PBT) totalled USD134m, comprising adjusted net management fee PBT of USD64m and
Heptagon Capital has achieved a Gold fund rating from S&P Capita IQ Fund Research for its Ireland-domiciled Yacktman US Equity Fund (based on a US mutual fund). London-based Heptagon Capital is an independent investment firm with over USD7.2billion in AuM and acts as the fund’s promoter.
Within the S&P Capital IQ US mainstream equities peer group of over 700 funds, the product is one of only 27 out of 55 graded funds to achieve a Gold grading.
Since the fund launched in December 2010 through to the end of May 2013, it has produced a top-quartile cumulative ranking in
Michelle Carroll (pictured), Partner of the Financial Services Group at BDO, comments on the IMA issuing a public consultation on fund charges…
We welcome the proposed changes by the Investment Management Association (IMA) to the disclosure of investment fund charges and believe this will lead to greater transparency and investors confidence.
However, this will lead to greater costs for investment managers in collating this data and with a new SORP predicted around the same time, is this the right moment to implement the new SORP and add more burden to investment managers with the current accounting and regulatory changes?
According to Singapore-based hedge fund research and fund advisory firm GFIA, medium sized Asia (ex-Japan) long-short equity funds – those that manage USD250 million to USD750 million – perform the best.
According to GFIA’s July “Insight” report in 2008, USD450 million to USD750 million was the sweet spot for long-short equity managers. In 2006, those figures were USD150 million to USD300 million. And in 2004—a period when market capacity was more limited—the best performers had assets under management of USD50 million to USD100 million.
The report also quantifies the degree of shrinkage of the Asian hedge fund industry over the past
The SEC ruling of 10 July 10 2013 lifting the ban on general solicitation and advertising of private placements ushered in a new era of communication opportunities and challenges for hedge fund managers.
This rule dramatically expands the marketing flexibility for managers of private funds, enabling far more opportunistic public relations initiatives and media dissemination of messages while also providing for insight on content, encompassing product, personnel, strategy, performance, fund commentary etc.
Holly Singer (pictured), President, HS Marketing LLC outlines the following guidelines for start-up, emerging and established managers seeking to benefit from this newfound free speech while
Grosvenor Capital Management, one of the world’s largest discretionary allocators to hedge funds, is to acquire the Customized Fund Investment Group (CFIG), a private equity, infrastructure and real estate investment management company, from Credit Suisse Group.
CFIG is one of the largest providers of customised private equity solutions globally with approximately USD18bn of assets under management and 11 offices around the world.
Following the completion of the transaction, CFIG will be renamed the GCM Customized Fund Investment Group. Terms of the transaction were not disclosed.
"This transaction makes each firm a more valuable partner for existing
The Depository Trust & Clearing Corporation (DTCC) is making several executive management appointments, effective 1 September, designed to strengthen the company’s leadership team.
“DTCC’s clients and key stakeholders are increasingly looking to us to develop and provide solutions that will help them effectively navigate the current economic and regulatory environment,” says Michael Bodson (pictured), president and chief executive officer, DTCC. “Through the guidance, dedication and solid expertise of the highly-talented individuals that make up our leadership team, DTCC is committed to meeting the needs of our clients in a rapidly evolving and dynamic market place.”
Ellen Fine Levine
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