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Institutional fund managers have undertaken a dramatic shift to direct hedge fund investing following the global financial crisis, according to a new survey from Citi Prime Finance.
The survey, “Global Pensions and Sovereign Wealth Funds Investment in Hedge Funds: The Growth and Impact of Direct Investing”, is based on in-depth qualitative interviews with nearly 60 major investors representing USD1.65 trillion in assets under management as well as hedge fund managers representing USD186 billion in assets under management, reveals that pensions and sovereign wealth funds have not only been increasing their hedge fund investment programs but are taking a more
- 28/06/2011
Eurex Clearing is to launch a central counterparty (CCP) service for the securities lending market based on Eurex Clearing’s proven systems and industry leading risk management standards. The new service will cover European markets for loans in equities, ETFs and fixed income securities. The phased roll-out will commence in November 2011, the full scope will be available in the course of 2012.
The new CCP service for securities lending has been designed in close cooperation with key market participants. A core element of the concept is a specific member license for lending participants that enables beneficial owners to participate as
- 28/06/2011
After only 12 weeks in operations, GIM High Opportunity Forex Fund, has returned 24.29% YTD in 2011. The fund has reached new high watermarks every single month since inception in April 2011.
The fund is a trend following, chart pattern recognition, High Frequency Spot Forex Fund aiming at risk adjusted absolute returns.
“The GIM High Opportunity Forex Fund boasts low correlations to other asset classes and potential profit opportunities resulting from market inefficiencies and macroeconomic trends,” says Astron Susilovic, managing director of Global Investment Management. “Additionally, the currency asset class exhibits low levels of volatility and high liquidity relative to
- 28/06/2011
UBS has announced the appointment of John Dyment as Global Head of Hedge Fund Distribution, based in New York.
Dyment will be responsible for the management and development of UBS’s strategically important hedge fund franchise, with global functional responsibility for sales, capital introduction and business consultancy services to the hedge fund community within Global Prime Services and have responsibility for coordinating all hedge fund sales activities across the Investment Bank’s FICC and Equity Divisions.
He joins UBS from Shumway Capital Partners, which at its peak was a USD9 billion multi-asset hedge fund based in Greenwich, CT. Prior to Shumway, where
- 27/06/2011
While Chinese inflation is still rising and the recent drought in central China may cause food prices to increase again, we do not expect inflation to reach excessive levels.
The latest positive PMI data (in May) indicated that investors’ concerns for Chinese economy were exaggerated, as underlying economic numbers, although slowing, remain relatively robust. We expect Chinese companies to report good earnings in the upcoming interim reporting season, which should support share prices.
China’s market is demonstrating attractive valuations, with expected earnings growth of 17%. The fund will continue to focus on companies with domestically focused operations, less policy
- 27/06/2011
Hedgebay, a pioneer of the secondary hedge fund market, has appointed leading hedge fund industry figure Lindsey Clavel to lead the firm’s European operations.
As Managing Director for Europe, Clavel will be responsible for determining the strategic direction and growth of the Hedgebay business. While her principal focus will centre on the firm’s European business, Lindsey will also have responsibility for Hedgebay’s operations in MENA and Australasia.
Since joining the firm six years ago, Clavel has played a central role in the rapid growth of the firm’s business. Last June, Clavel was appointed to lead Hedgebay’s business development in
- 27/06/2011
JP Morgan Worldwide Securities Services was recently recognised as the ‘Best Hedge Fund Administrator’ at the Hedgeweek USA Awards. The awards, presented at New York’s Gansevoort Hotel on June 16th, were based on an extensive reader survey that evaluated the top hedge fund performers and service providers during 2010.
The Hedgeweek USA Awards for excellence among hedge fund managers and service providers recognise the US industry’s best performers and their ability to demonstrate consistency, transparency and depth of expertise against the backdrop of new investment climate. The winners were decided by the votes of Hedgeweek’s nearly 20,000 US-based subscribers, who
- 27/06/2011
BNP Paribas Securities Services (BNP Paribas) has launched the first UCITS IV-compliant, master-feeder fund solution. Designed to help asset managers reach more end investors and achieve efficiencies, the solution also introduces the concept of a cost-free feeder – a new paradigm in fund distribution. 


Commenting on the launch, Margaret Harwood-Jones, Head of client segments – asset managers & alternative investments, BNP Paribas Securities Services, says: “With UCITS IV imminent, we’re delighted to be first to market with this solution for master-feeder funds. Supporting any combination of masters and feeders, we offer an end-to-end service accessible from most of Europe.”


Uniquely,
- 27/06/2011
EDHEC-Risk Institute is delighted to announce that Professor Frank J Fabozzi (pictured), academic and author and editor of over 100 reference textbooks in finance, will be joining EDHEC-Risk Institute on August 1, 2011.
Professor Fabozzi will be joining EDHEC-Risk Institute as part of its North American strategy and will be working on the development of EDHEC-Risk Institute North America with Professor Lionel Martellini, Scientific Director of EDHEC-Risk Institute, who will be in charge of North American development for the Institute from the beginning of the 2011/2012 academic year. Professor Fabozzi will also supervise dissertations of candidates to the EDHEC-Risk Institute
- 27/06/2011
Irving H Picard, the Trustee for the liquidation of Bernard L Madoff Investment Securities LLC (BLMIS), has filed an amended complaint in the United States District Court for the Southern District of New York against JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC and J.P. Morgan Securities Ltd. (collectively JPMC).
The amended complaint, based on expanded allegations, includes a jury demand and now seeks life-to-date damages. It states that the Trustee seeks to recover a minimum of USD19 billion in damages — up from USD5.4 billion in damages previously sought — in addition to approximately USD1
- 27/06/2011
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