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North Carolina hedge fund manager James Alexander Shepherd has agreed to plead guilty to charges that he defrauded investors of approximately USD6m.
According to filed court documents and court proceedings, beginning in 2006 and through the spring of 2013, Shepherd defrauded over 100 investors in Union County and elsewhere of approximately USD6m.
Court documents indicate that Shepherd perpetrated the fraud by promising his victims returns on their investments in funds Shepherd owned and controlled, including The Shepherd Major Play Option Fund and the Shepherd’s Model Hedge Fund.
In addition, Shepherd had some individual investors that invested their
The Newedge Trend Index fell 3.65 per cent in May, relinquishing some of the gains from March and April.
The Newedge Short-Term Trading Index finished slightly positive, extending a run of performance not seen since 2008.
The Newedge Trend Index, which is equally weighted, calculates the daily rate of return for a pool of the largest 10 trend following based CTAs that are willing to provide daily returns and are open to new investment.
The Newedge Short-Term Traders Index is designed to track the daily performance of a portfolio of the largest ten short-term, diversified CTAs who
Hedge funds gained 1.06 per cent in May, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index is up 5.87 per cent year to date.
“While improving consumer confidence and higher prices for US homes stoked concerns of Fed tapering, equity markets rallied even as interest rates moved higher,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 16 of Barclay’s 18 hedge fund strategies had positive returns in May. The Barclay Healthcare & Biotechnology Index jumped 3.11 per cent, Equity Long Bias gained 2.64 per cent, the Distressed Securities Index rose 2.42 per
Abacus Group has launched FlexDrive, a file-hosting service that allows hedge funds and private equity firms to securely share and transfer files with other users and other devices.
FlexDrive provides on-demand cloud storage and sharing as well as instant file synchronisation, giving users access to their files no matter what computer or device they are using.
Hedge fund and private equity fund managers can now easily exchange and collaborate on files via desktop computer, mobile device or tablet. The FlexDrive server is located in the Abacus Group private cloud, where users get all of the inherent benefits of
The international derivatives market Eurex Exchange will introduce the second tranche of derivatives on global MSCI indices on 1 July.
Futures and options based on the MSCI World, MSCI Europe, MSCI AC Asia Pacific ex-Japan and futures on the MSCI Frontier Markets have been available since 11 March. Around 20,000 contracts have been traded in these products since market launch.
Effective 1 July, futures and options will be offered based on the following regional indices: MSCI Emerging Markets, the leading index for this segment, and the regional sub-indices MSCI EM EMEA, MSCI EM Latin America and MSCI EM
Celoxica, a provider of ultra-low latency market data, order entry and pre-trade risk solutions, has hired Diane Saucier to head its business development in the US.
Saucier (pictured) has spent over 20 years in key roles including 10 years at Trading Technologies International helping to grow their business across futures, options and derivatives markets and building strategic relationships with the major exchanges.
She is a founding board member and vice president of WILD (Women in Listed Derivatives), an organisation which promotes the advancement of women in the derivatives industry, and also serves on the board of directors and
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,
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