Latest News
Astmax Asset Management, an asset management firm based in Tokyo, and Gottex Fund Management Sarl have agreed mutual sub-advisory services to provide institutional and other Japanese clients with hedge fund and multi-asset investment solutions.
The parties will offer Japanese clients relevant investment products and services including advanced customised hedge fund investment solutions, active liquid multi-asset products, hedge fund advisory services, managed accounts and specific products for Japanese institutional investors.
Astmax and Gottex believe there is a growing need in the Japanese institutional market for advanced customised hedge fund and multi-asset investment products, as these investors are becoming increasingly apprehensive
Hedge funds took in a net USD817m (0.04 per cent of assets) in March, building on an inflow of USD11.4bn in February.
The results are based on data from 3,409 funds, according to TrimTabs and BarclayHedge.
“The hedge fund industry continues to struggle with performance relative to the S&P 500,” says Sol Waksman, president and founder of BarclayHedge. “The industry delivered a return of 1.1 per cent in March, less than one-third of the S&P 500’s 3.6 per cent rise. Although hedge funds delivered positive returns in 10 of the past 12 months, they trailed the S&P 500
Investors increased allocations to Asian hedge funds in 1Q13 as stimulus measures; quantitative easing and increased bond purchases by the Bank of Japan drove gains across both equities and the HFRX Japan Index.
Total Asia-focused hedge fund capital increased by +7.6 per cent in 1Q13 to nearly USD95 billion, reaching the highest level since Asian hedge fund capital peaked in 2007, according to the latest HFR Asian Hedge Fund Industry Report. Investors allocated over USD1.3 billion in net new capital to Asian hedge funds in 1Q13, the largest quarterly inflow since 3Q11, as the total number of Asian hedge funds
Commodities were lower in April as economic data out of China and Europe supported expectations of continued dampened economic growth.
Nelson Louie, global head of commodities in Credit Suisse’s asset management business, says: "Commodities decreased in April on the back of less than encouraging GDP reports out of the US, China and Europe. Credit spreads of periphery government debt have narrowed dramatically, likely in reaction to incredibly expansionary central bank policies worldwide. The most striking recent examples being Japan’s commitment to even higher levels of quantitative easing than in the US, relative to the size of the economy, and recent reports
Effective 12 April 2013, T2 Advisers (T2A) ceased serving as the investment adviser to GLI Finance Limited (formerly called Greenwich Loan Income Fund Limited) as a result of GLIF’s internalization of its management and a mutual agreement to terminate its management agreement with T2A.
T2A remains the collateral manager for T2 Income Fund CLO I Ltd (in which GLIF owns the equity tranche) and has had recent discussions with GLIF regarding other corporate debt and structured finance collaborations.
The board of the Channel Islands Stock Exchange (CISX) has appointed Stephen Lansdown as non-executive director.
Lansdown (pictured) was co-founder and former chairman of Hargreaves Lansdown, from which he stepped down in November 2012. He is also a majority shareholder of Bristol City Football Club and Bristol Rugby Club.
A fellow of the Institute of Chartered Accountants in England and Wales and a fellow of the Chartered Institute for Securities and Investment, Lansdown was presented with Honorary Degrees from Bristol University (Doctor of Laws) and the University of the West of England (Doctor of Business Administration) in 2012.
GFI Group has agreed to acquire certain assets of Phoenix Partners Group, an independent inter-dealer broker operating mainly in the international credit and equity markets.
As part of the transaction, GFI will be taking on approximately 32 brokers (divided between New York and London offices) and additional operational and management staff.
Headquartered in New York with an additional office in London, Phoenix Partners Group provides a range of intermediary services to a largely institutional, financial client base, in credit and equities. In credit, Phoenix follows a hybrid business model, combining voice broking with electronic execution.
Colin Heffron
The Lyxor Hedge Fund Index was up 0.8 per cent in April, bringing year-to-date performance to +3.2 per cent.
Twelve Lyxor Strategy Indices out of 14 ended the month in positive territory, led by the Lyxor L/S Equity Market Neutral Index (+3.9 per cent), the Lyxor CTA Long Term Index (+3.0 per cent) and the Lyxor Merger Arbitrage Index (+1.5 per cent).
Risk assets mostly rallied in April after a modest sell off in the beginning of the month and most hedge fund strategies generated positive returns for the month. Economic data continues to paint a picture of
San Francisco-based fund administrator Conifer Fund Services is to open a fund administration office in Halifax, Nova Scotia, as part of its strategy to grow in North America.
Halifax was selected over competing locations based on Nova Scotia’s nearshore advantages including cost, proximity to clients, and access to skilled talent.
“We chose Halifax for our strategic growth plan,” says Jack McDonald, president and chief executive of The Conifer Group. “Halifax will become our key centre for hedge fund administration because it has a highly educated and skilled labour force, low staff turnover, and a high quality of life.”
Investors increased allocations to Asian hedge funds in 1Q13 as stimulus measures, quantitative easing and increased bond purchases by the Bank of Japan drove gains across both Japanese equities and the HFRX Japan Index.
Total Asia-focused hedge fund capital increased by 7.6 per cent in 1Q13 to nearly USD95bn (JPY9.4trn), reaching the highest level since Asian hedge fund capital peaked in 2007, according to the latest HFR Asian Hedge Fund Industry Report, published by HFR.
Investors allocated over USD1.3bn in net new capital to Asian hedge funds in 1Q13, the largest quarterly inflow since 3Q11, as the total number
Special Reports
FeatureD
- Insight
