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The Credit Suisse Hedge Fund Index finished down 1.66 per cent for the month of June, with eight of the 10 sub-strategies in negative territory for the month.
The only two sub-strategies with positive returns were dedicated short bias (0.81 per cent) and equity market neutral (0.57 per cent).
The worst performers were managed futures (-5.42 per cent), emerging markets (-2.64 per cent) and global macro (-2.48 per cent).
The following funds were dropped from the Credit Suisse Hedge Fund Index in June: 5:15 Partners, Henderson European Absolute Return Fund and Tewksbury Investment Fund.
There were
Alternative investment firm Collins Capital has appointed Casey Wamsley as director.
Collins Capital helps advisers balance their clients’ traditional equities and fixed income exposure with diversified hedge fund portfolios that do not correlate with other asset classes.
In his role, Wamsley will focus on a number of initiatives, including educating clients on the benefits of alternative investments. Wamsley, who will focus on both the mutual fund and limited partnership sides of Collins Capital, will work very closely with Dorothy Weaver, the co-founder, chief executive officer and chief investment officer of the firm.
"Our goal is to build
Woodfield Fund Administration, an independent third-party fund administrator, has chosen Smonik RECON to support the portfolio reconciliation needs of its diverse group of investment management clients.
Woodfield’s selection of Smonik RECON comes as investment managers are increasingly broadening their investment strategies across regions and asset classes in pursuit of investment returns. To support more dynamic investment strategies, firms must be able to quickly and easily modify middle- and back-office processes to minimise risk and ensure operational efficiency in the new market environment.
Smonik RECON’s platform design enables Woodfield to quickly onboard new clients providing them with straight-through processing
Volumes in June jumped dramatically in the 10 most liquid names, according to broker Abel/Noser’s June liquidity analysis.
The top 10 names, in terms of average dollars traded per day, were almost identical for both months.
The only change being in May, SPD Gold (GLD) was the eighth most active issue trading USD1.6bn a day. GLD dropped to 11th place in June and was replaced by Pfizer (PFE) which traded USD2.3bn as the sixth most liquid name.
“The most interesting part of the study notes that the sum of the 10 most liquid names in June
Hedge fund advisory boutique Atrato Advisors has appointed Abigail Corcoran as managing director, head of business development.
Most recently, Corcoran was vice president of client development at Sandalwood Securities, the New Jersey-based multi-manager shop.
Previously, she was a relationship manager within Credit Suisse Private Bank.
Prior to joining Credit Suisse, Corcoran spent three years at advertising agency Ogilvy & Mather, developing brand strategy for the firm’s financial services clients.
"We are beyond thrilled to have Abby come aboard," says Atrato’s president Brian Reich. "Her leadership and knowledge of the family office and institutional investor community were
MarketAxess Holdings has filed an application on to become a swap execution facility (SEF) under the Commodity Futures Trading Commission’s (CFTC) Dodd-Frank Act.
MarketAxess specialises in electronic trading of credit instruments and was the first platform to offer electronic trading of credit default swaps (CDS) in 2005.
Over the past three years, since passage of the Dodd-Frank Act, MarketAxess has expanded its functionality to offer a comprehensive range of trading protocols including request for quote/market (RFQ/RFM), click-to-trade (CTT) and a central limit order book for CDS trading. The platform currently offers electronic trading solutions in CDS Indices, CDS Index
After 12 consecutive months of gains hedge funds lost 1.35 per cent in June, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index remains up 4.26 per cent year to date.
“A comment by Fed chairman Ben Bernanke that the Fed may begin to taper its asset purchases caused interest rates to skyrocket while prices for equities, commodities, and emerging market currencies plummeted,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 14 of Barclay’s 18 hedge fund strategies lost ground in June. The Barclay Emerging Markets Index dropped 3.97 per cent, Distressed Securities
Bernheim, Dreyfus & Co has launched Carmel Global Opportunities, a global macro UCITS IV compliant fund, which invests in multiple asset classes across the OECD universe.
Carmel Global Opportunities is managed by Bernheim, Dreyfus & Co’s team gathering over 70 years of experience in asset management and other complementary fields in finance such as M&A advisory, trading and risk management.
The fund aims to deliver steady long-term capital appreciation through diversification of investment style, alpha source and time horizon.
The fund deploys capital in an actively managed core fixed income allocation and a more dynamic pocket increasing the
Jersey Finance has welcomed the announcement from the Jersey Financial Services Commission (JFSC) that 25 bilateral agreements have been signed in respect of the Alternative Investment Fund Managers Directive (AIFMD), another key step in meeting the requirements of the Directive.
Jersey’s strategy, which is to offer flexibility within its funds regime to allow continued access to European markets, while also providing options for the rest of the world, remains on track. It is the intention of the Jersey funds industry to satisfy the criteria to comply with the AIFMD and remain attractive both for ongoing “business as usual” activity
UK-based Liquidity Finance is expanding its activities across the Atlantic with a new office opening in Stamford, Connecticut in the US.
Headed by ex-Knight Capital Group and UBS AG Dan Mullineaux (pictured), working alongside ex-head of EM trading at Goldman Sachs Robert McDonald, the expansion of Liquidity Finance to the US mirrors developments in the market, as clients are moving increasingly towards alternative sources of liquidity.
With its unique electronic order matching platform, developed in-house, Liquidity Finance has received good traction and market shares in Europe, and will now be expanding its focus to the US and Latin American client base.
Liquidity co-founder Faisal Mian says: “The US
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