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The Dow Jones Credit Suisse Hedge Fund Index finished up 0.42 per cent in May with six of the 10 sub strategies recording positive returns.
Event driven led the way with a return of 2.27 per cent followed by convertible arbitrage (1.30 per cent) and long/short equity (1.19 per cent).
Managed futures was the worst performer for the month by some margin with a return of -4.98 per cent, while the other sub strategies in negative territory for the month were dedicated short bias (-1.51 per cent), emerging markets (-0.20 per cent) and global macro (-0.05 per cent).
Lyxor Asset Management has launched the Lyxor/Tiedemann Arbitrage Strategy Fund, a new UCITS-compliant vehicle designed to give access to a pure merger arbitrage strategy in partnership with the hedge fund firm TIG Advisors.
The fund will benefit from TIG’s merger arbitrage expertise supported by large deal experience, strong focus on research and high market convictions.
The fund’s investment strategy is to play arbitrage deals from both a long and a short perspective by investing in securities that are subject to special events in North America, Europe, Australia, South America and Asia. The investment team focuses on 0-30 day events
LGT Capital Partnershas been awarded a GBP100 million multi-alternatives mandate from Kingfisher Pension Scheme. The mandate is focused exclusively on alternative investments and includes hedge funds, commodities, insurance-linked securities, property, private equity and other alternative asset classes.
Roberto Paganoni, CEO of LGT Capital Partners, says: "We are delighted to be able to work with Kingfisher Pension Scheme on this mandate, which will provide their pension fund with an actively managed portfolio with nine alternative asset classes and access to best-in-class external managers. This segregated mandate gives Kingfisher Pension Scheme the flexibility to change the risk/return profile of their return-seeking assets
Third Eye Capital Management has launched the Third Eye Capital Alternative Credit Trust (the ACT Fund), an open-ended unincorporated investment trust established under the laws of the Province of Ontario.
The ACT Fund will be managed by Third Eye Capital with the principal investment objective to achieve superior risk-adjusted returns with minimal volatility and low correlation to most other asset classes through direct investments in private secured loans of primarily Canadian companies.
Third Eye Capital currently sub-advises the Third Eye Capital Credit Opportunities Fund in Luxembourg and the Sprott Private Credit Trust in Canada. Similar to these portfolios,
The proportion of UK-based investment professionals who believe that developed market equities are overvalued has doubled in the last 12 months, according to the CFA UK Valuations Index.
The most recent publication of the CFA Society of the UK’s quarterly survey shows that 47 per cent of respondents rate developed market equities as either overvalued or very overvalued, compared to 26 per cent in Q2 2012. At the same time the proportion of investors viewing the asset class as undervalued or very undervalued as fallen from 39 per cent in Q2 2012 to 22 per cent in Q2 2013.
Omgeo has appointed Jeannie Shanahan as its new managing director of governance, risk management and compliance (GRC).
In this role, Shanahan will focus on developing and implementing risk-based compliance programmes that support Omgeo’s ongoing commitment to providing services that reduce operational and counterparty risk and promote regulatory compliance.
Shanahan will lead Omgeo’s legal and regulatory compliance initiatives to ensure all Omgeo services promote compliance with anti-money laundering/OFAC mandates, insider trading, records retention and anti-bribery/corruption laws and regulation. She will additionally drive the organisation’s SSAE 16 compliance through control testing and reporting, validating the strength and effectiveness of Omgeo’s
Asset managers and investment specialists taking part in a Camradata roundtable believe that environmental, social and governance (ESG) analysis will be fully integrated into investment management by the end of the current decade.
While there were differences of opinion on what the mainstream would look like, there was broad acknowledgement that, currently, not enough time was given to ESG evaluation with many themes of sustainability taking decades to become meaningful.
Roundtable participants suggested that ESG metrics should not only be used for risk analysis but also be deployed to better identify investment opportunities. No longer should responsible investors
Sapient Global Markets has expanded its European footprint with the opening of a new office in Frankfurt, Germany.
The office will provide business and technology consulting for capital and commodity markets clients across the German speaking landscape in Europe.
Sapient Global Markets has tapped Robert Binder as managing director to help lead capital and commodity markets programmes and expansion in German speaking markets encompassing Germany, Austria and Switzerland.
“Sapient Global Markets strives to provide its global customer base with support wherever they conduct business,” says Chip Register, head of Sapient Global Markets. “Our continued investment in resources
Hedge funds took in a net USD430m (0.02 per cent of assets) in April, building on an inflow of USD817m in March, according to BarclayHedge and TrimTabs.
The results are based on data from 3,393 funds.
The industry delivered a return of 0.6 per cent in April, one-third of the S&P 500’s 1.8 per cent rise. The trend was similar over the past 12 months, when hedge funds earned 8.1 per cent and the S&P 500 rose 14.3 per cent.
The TrimTabs/BarclayHedge Hedge Fund Flow Report noted that stock-picking hedge fund managers performed well, just as they
Law firm Dechert’s financial services group has launched a web page that brings together a selection of resources designed to address issues concerning the EU Alternative Investment Fund Managers Directive (AIFMD).
Dechert believes that AIFMD represents the most significant EU regulation of the alternative investment funds industry in recent times, which will impact a wide range of asset managers, not just traditional hedge and private equity managers, whether they are based in the EU or outside.
Dechert’s new AIFM resources include the AIFM Matric, which explains marketing, management and implementation for EU and non-EU AIFMs and the AIFMD Marketing
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