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S&P Dow Jones Indices has launched the S&P GSCI Roll Weight Select, which aims to reduce the negative impact of contango by modifying the weights of the commodities according to the relative change in the realised roll yield for each commodity in the index.
The index is designed to maintain maximum liquidity by including only the most liquid front month contracts and only the 14 most liquid commodities representing each sector, according to the rules of the S&P GSCI Equal Weight Select.
The change in realised roll yield is a new index measure that is used to weight
Independent fund administration company Apex Fund Services has appointed Gordon Shaw as chief operating officer of the Apex Group.
Shaw (pictured) was previously global head of banking and custody within the Credit Suisse alternative funds business. Prior to this, he was group chief operating officer at Fortis Prime Fund Solutions where he had responsibility for over USD100bn of assets under administration. Whilst at Fortis, Shaw worked in a number of senior positions in multiple locations in the Americas, Europe and Asia.
One of Shaw’s global responsibilities will be to increase the use of Apex’s technology based services including
The hedge fund industry is the most competitive industry in the world, where portfolio managers are constantly struggling to identify inefficiencies in the capital markets and quickly take advantage of them before their competitors.
The most extreme example of this is high frequency traders, whose offices are usually strategically located near exchanges, because every millisecond matters. It is an industry based on survival of the fittest, where managers who do not succeed at generating strong returns or evolving their firm with changing market dynamics cease to exist. This has especially been the case within the hedge fund of fund
Global Prime Partners (GPP), a prime brokerage boutique which specialises in supporting emerging managers, has expanded its client service capabilities in the Asian markets with the hire of investment industry veteran Rupert Street who joins the firm with immediate effect.
Street will lead GPP’s growing business and client support services throughout the Asian markets region based out of Hong Kong.
He has more than two decades of financial markets and investment experience in the Asian region which includes managing his own hedge fund, running a family office, and acting in an advisory capacity to a number of Hong
Moscow Exchange has launched the next stage of T+2 implementation on its Securities Market by extending the list of eligible shares from 15 to 50 names.
All sovereign bonds (OFZs) issues have been available for T+2 since 25 March 2013. Parallel trading with T+0 settlement will be available for all T+2 eligible securities until 30 August 2013. All other shares traded on the Moscow Exchange will migrate to T+2 on 2 September, when T+0 settlement for all shares, Russian depositary receipts (RDRs) and OFZs will end.
Furthermore, the exchange offers new opportunities to Securities Market members:
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Hedge funds posted the first monthly decline for 2013 in June, ending a streak of seven consecutive months of gains, the longest run of positive performance seen by the industry since 2011, according to data released by HFR.
The HFRI Fund Weighted Composite Index declined 1.3 per cent for the month, only the second decline in the trailing 13 months.
All four main HFRI Strategy Indices posted losses for June, with declines led by macro and equity hedge strategies. The HFRI Macro Index posted a decline of 1.5 per cent with negative contributions from trend following strategies, fixed income,
The IndexIQ IQ Alpha Hedge Strategy Fund, a no-load, open-end mutual fund, marked its five-year anniversary on 30 June 2013.
At its introduction, the IndexIQ fund was the first open-end hedge fund replication mutual fund in the market. Total assets in US alternative mutual funds and exchange-traded funds (ETFs) are now approximately USD550bn, according to a recent report from SEI.
“Since we launched the IQ Alpha Hedge Strategy Fund, both retail and institutional investors and their advisors have come to embrace ‘liquid alternatives’ as an asset class, recognising that these funds can bring diversification, liquidity, and other desirable
Omgeo and Eze Software Group are launching a high-performance interface to fully automate futures and options matching between the Eze OMS and Omgeo Central Trade Manager (Omgeo CTM), a central matching solution for domestic and cross-border exchange-traded derivatives (ETDs), equities and fixed-income transactions.
This new interface has been developed using Omgeo CTM’s native XML messaging format and greatly improves both the speed and capacity with which trades and trade statuses can be delivered between the two systems.
The Eze OMS is a global multi-asset class order management system that streamlines the investment cycle from idea generation through settlement.
A partnership of industry leaders in the investment consultancy and alternative asset sectors has launched an independent investment platform for investors and hedge fund managers, geared toward the investment markets of 2013 and beyond.
ClearVest offers a total portfolio solution with an intelligent interface between a diversified offering of alternative managers, research, institutional quality infrastructure, and leading edge technology.
The ClearVest founders bring a combination of experience and expertise in fund administration, fiduciary oversight, technology and research to the investment platform. HedgeACT, an alternative asset management platform founded by Michael E. Griffin, will provide the technology backbone for
Alternative Investment Group, an alternative investment management firm that invests in fundamentally-oriented hedge funds, has named managing directors Joel Gantcher and Samuel Sussman as partners at the firm, effective immediately.
Gantcher (pictured) and Sussman joined the firm in January 2012 and will continue to serve on the firm’s investment committee.
Gantcher is head of manager research and oversees manager research, sourcing and due diligence efforts.
Sussman is head of investment strategy and directs the firm’s top-down research and leads the sourcing and monitoring of event-driven, credit and distressed managers.
"I congratulate Joel and Sam on becoming
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